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THE COCA-COLA COMPANY REPORTS
FOURTH QUARTER AND FULL YEAR 2016 RESULTS
Strong Price/Mix and Solid Performance in Developed Markets
Flagship North America Market Continues to Outperform the Industry
Net Revenues Declined 6% for the Quarter and 5% for the Full Year, which Included a Combined
Unfavorable Impact from Foreign Currency and Structural Changes of 12% and 9%, Respectively
Organic Revenues (Non-GAAP) Grew 6% for the Quarter and 3% for the Full Year
Price/Mix Grew 6% for the Quarter and 3% for the Full Year
Operating Margin Expanded More than 90 Basis Points for the Full Year and Comparable Currency
Neutral Operating Margin (Non-GAAP) Expanded Nearly 140 Basis Points
Fourth Quarter EPS of $0.13 and Comparable EPS (Non-GAAP) of $0.37
Company Provides 2017 Financial Outlook
ATLANTA, Feb. 9, 2017 –
The Coca-Cola Company today reported fourth quarter and full year 2016 operating results. Muhtar Kent, Chairman and Chief Executive Officer of The Coca-Cola Company, said, "We are pleased to report that we ended 2016 with fourth quarter top- and bottom-line growth within our expectations. Strong price/mix stemming from our continued focus on driving revenue and solid performance in our developed markets helped offset persistent macroeconomic pressures in our emerging and developing markets. Our flagship market of North America grew net revenues 8% for the quarter and 4% for the year, outperforming total retail value growth for both the North America nonalcoholic ready-to-drink beverage industry and U.S. consumer packaged goods companies."

"In addition to delivering our profit target for the full year, I am encouraged by the strategic actions taken during 2016 to strengthen our global bottling system. In the fourth quarter, we reached a definitive agreement to refranchise all Company-owned bottling operations in China, and we took important steps to further the evolution of Coca-Cola Beverages Africa. During the year, we successfully completed the creation of Coca-Cola European Partners, and we supported the ongoing transformation of the franchise bottling system in Japan. And last, we remain on track to complete the refranchising of Company-owned bottling operations in the United States by the end of 2017. In total, half of our global system revenue has been in motion through our recent actions to strengthen the system. The progress demonstrated by these actions is foundational in positioning our system for prosperity long into the future."

"We also recently made an important decision about the future leadership of The Coca-Cola Company with the announcement that James Quincey will become our next CEO, effective May 1. Having worked closely with James for many years, I know that his knowledge and experience make him the ideal candidate to lead our Company and bottling system into the future. I am partnering with James to ensure a smooth CEO transition and look forward to providing continued support as Chairman of the Board of Directors."



The following information was filed by Coca Cola Co (KO) on Thursday, February 9, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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