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Coca Cola Icecek Sanayi's (COCAL) CEO Burak Basarir on Q4 2017 Results - Earnings Call Transcript

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Coca Cola Icecek Sanayi AS ADR (OTC:COCAL) Q4 2017 Earnings Conference Call February 28, 2018 8:00 AM ET


Yesim Tohma - Investor Relations Manager

Burak Basarir - Chief Executive Officer

Michael Coombs - Chief Financial Officer


Cemal Demirtas - Ata Invest

Mark Smith - CRA Capital

Charlie Higgs - Redburn

Yesim Tohma

Good morning, and good afternoon ladies and gentleman. Welcome to our 2017 full year results webcast. Today our CEO, Mr. Burak Basarir, will briefly talk about our operations and then our CFO, Mr. Michael Coombs, will share with you the financial review. Following the presentation of guidance by our CEO, we will start the Q&A session.

Before we begin, please kind with the advised our cautionary statement. This conference call may contain forward-looking management comments, including projections. And these should be considered in conjunction with our cautionary language contained in the earnings release. And the copy of the release and financials are available on our Web site.

Now, let me turn the call over to Mr. Basarir.

Burak Basarir

Thank you, [Yesim]. Good morning, and good afternoon everyone. And thank you for joining our call today and thanks for taking the time. We’re pleased to deliver our 2017 guidance with accelerating quality growth and efficiency. In 2017, we achieved the highest net saving EBIT and EBITDA growth of the past five years.

Our full year results demonstrate accelerated momentum in volume, net revenue, EBITDA compared to previous years. This growth performance was also reflected in our profitability. Our continuous focus on revenue growth initiatives coupled with increased emphasis on efficiency enabled us to deliver 7 basis points expansion in EBITDA margin. Furthermore, it generated a record high free cash flow in 2017 supported by higher cash from operating activities and lower capital expenditures.

Yesterday, we announced that

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