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19 06 2018
The Coca-Cola System contributes over half a billion levs to the Bulgarian economy
- The total contribution of the Coca-Cola System in Bulgaria is 0.6% of the country's GDP.
- The Coca-Cola System maintains a total of 19,800 jobs or 0.7% of the labour market in Bulgaria.
- Every 1 lev spent on drinks from the Coca-Cola portfolio results in BGN 0.64 in revenue for Bulgaria.
- The Coca-Cola System in Bulgaria has paid direct and indirect taxes amounting to BGN 236 million for 2017. The amount equals 1.2% of Bulgaria's tax revenues and also the annual costs for the education of 87,700 pupils.
The city of Sofia, 12th June 2018 – The Coca-Cola System contributes over half a billion levs to the Bulgarian economy. This is indicated by the report on the socio-economic impact of the Coca-Cola System in Bulgaria for 2017, which is issued for the third consecutive year.
„The overall impact of the Coca-Cola System on the Bulgarian economy increased by 9% between 2015 and 2017. The total contribution of the System to the Bulgaria's Gross Domestic Product for 2017 is 0.6%, which is derived from the wages, profits and taxes generated throughout its value chain. Traditionally, Coca-Cola works with Bulgarian suppliers, the value of the goods and services purchased by them for the last year being over BGN 105 million. Another interesting fact is that every 1 lev spent on Coca-Cola drinks results in BGN 0.64 in revenue for Bulgaria”, Teodora Nenova, Senior Consultant at Stewart Redkwin, said.
The report also looks at the impact of the Coca-Cola System on the labour market. Those employed in the manufacturing companies and company offices in 2017 are 2,300 people. At the same time, the System maintains another 17,500 additional jobs in the chain - from raw material and ingredient producers to people selling Coca-Cola drinks at restaurants and stores. A total of 19,800 employees or 0,7% of the labour market are related to the activities of Coca-Cola in Bulgaria. Thus, for each single job in the Coca-Cola System another 7 jobs in the Bulgarian economy are maintained.
„Coca-Cola is a long-term and responsible partner of the Bulgarian state for a sustainable growth of our economy. For the third consecutive year, we are doing this analysis for the impact of the Coca-Cola System, which reflects our continued commitment and responsibility to the Bulgarian society as a whole. Only for 2017 the Coca-Cola System in Bulgaria has paid direct and indirect taxes amounting to BGN 236 million. The amount equals the annual costs for the education of 87,700 pupils*.” Svetoslav Atanasov, Executive Director of Coca-Cola HBC Bulgaria, said.
„Besides the purely economic and social impact on the Bulgarian economy, for all these years during which Coca-Cola is present on the Bulgarian market, we have been supporting and promoting the Bulgarian national traits and the Bulgarian traditions. Bulgaria is the first country in the world where Coca-Cola is written in Cyrillic. Another strong footprint that our country has left on the Coca-Cola’s history is the limited collection of six design bottles that were dressed in the embroidery patterns characteristic of the six Bulgarian ethnographic regions. We are striving also to respond to the changing tastes and needs of the Bulgarian society. We are therefore extending our portfolio to products of non-carbonated beverages, with less sugar content, and we have always been leaders in imposing the responsible rules in the labelling", Eliza Grancharova, CEO of Coca-Cola Bulgaria, added.
The assessment of the socio-economic impact of the Coca-Cola System has been made on the basis of an established economic model, implemented by Stewart Redkwin strategic consultancy company. The authors of the report are Prof. Ethan B. Capstein and Teodora Nenova, Senior Consultant at Stewart Redkwin.
The Coca-Cola Company
The Coca-Cola Company (NYSE: KO) is the largest beverage company in the world, offering more than 500 brands in over 200 countries. 19 of our brands, valued at $ 21 billion, are available in reduced or low sugar or sugar free versions to make it easier for people around the world to control the intake of sugar. We at Coca-Cola are serious about our intentions to positively influence the world.
It starts with reducing sugar in our beverages and supplying new and different drinks to people around the world. This also means that we work in the long run to reduce our footprint on the environment, providing opportunities for a beneficial career to our employees and creating new opportunities for the economy wherever we work. Together with our bottler partners we have provided work for over 700,000 people all over the world. For more information please visit our global online magazine Coca-Cola Journey at www.coca-colacompany.com or our local publication at www.coca-cola.bg and follow the Coca-Cola company in Twitter, Instagram, Facebook and LinkedIn.
About Coca-Cola Hellenic Bottling Company
The Coca-Cola HBC (Coca-Cola Hellenic Bottling Company) is a bottling partner of the Coca-Cola Company. It sells over 2 billion bottle crates a year. The Coca-Cola HBC is one of the biggest bottlers of the Coca-Cola products. The company operates in 28 countries, offers 136 brands in its diverse portfolio, has 56 plants and 264 warehouses and distribution centres. The Coca-Cola HBC sells the world's most famous soft drink – the Coca-Cola, along with the sugar free Coca-Cola, Sprite and Fanta, also with the permission of the Coca-Cola Company. The non-carbonated beverages - water, juices, cold tea and energy drinks - represent 31% of the Company's sales volume. The diverse portfolio means that the Coca-Cola HBC is a strong partner of its customers and it delivers a high degree of consumer choice. The Coca-Cola HBC integrates sustainable development and corporate responsibility into every part of its business with a view to creating long-term value for stakeholders. In 2017, the Dow Jones Business Sustainability Index nominated the Coca-Cola HBC as the Europe’s and world’s leading beverage producer for the fourth consecutive year. The Company’s head office is in Zug, Switzerland. The Company's shares are listed primarily on the London Stock Exchange and secondarily – on the Athens Stock Exchange.
For more information visit https://coca-colahellenic.com
About the Coca-Cola System in Bulgaria
The Coca-Cola Bulgaria is the resident subsidiary of The Coca-Cola Company and is responsible for the marketing, for the development of new soft drinks and for the syrups and concentrates in the drinks bearing the Coca-Cola trade mark. The Coca-Cola Hellenic Bottling Company (Coca-Cola HBC) purchases the concentrates and syrups for the beverage production under a franchise agreement with The Coca-Cola Company. The Coca-Cola HBC is also responsible for selling the products, dealing with customers and suppliers, realising promotions and distributing the products. Today it has 2 production and 7 distribution centres in our country.
For further information:
Manager External Affairs
Regulatory and public affairs manager
0894 727 175
* According to Eurostat figures, the annual cost per pupil in Bulgaria is 1 376.20 €.