Coke Is It

The Coca-Cola Co.’s profit rose 18 percent in 2009, benefiting from growth in markets outside of North America and Europe.

The Atlanta-based beverage giant posted net income of $6.82 billion and earnings of $2.93 a share, compared with net income of $5.81 billion and earnings of $2.49 a share in 2008.

Annual revenue was down 3 percent to $31 billion.

Unit case volume—a key growth measure in the beverage industry—rose 3 percent in 2009. This was led by 7 percent growth in the Pacific, 6 percent growth in Latin America, and 4 percent growth in Eurasia and Africa. However, unit case volume declined 2 percent in North America and 1 percent in Europe.

“We ended this year on a high note, delivering global volume and value share gains, comparable currency-neutral revenue growth, improved productivity, and increased cash flows,” said Muhtar Kent, Coca-Cola chairman and CEO. “In a year marked by unprecedented economic uncertainty, our foundation—leading brands, unmatched global footprint, great bottling partners, and a solid financial position—proved that we have the right ingredients for growth, even under challenging economic conditions.”

In the fourth quarter, Coca-Cola had net income of $1.54 billion and earnings of 66 cents a share, compared with net income of $995 million and earnings of 43 cents a share in the fourth quarter of 2008.

Fourth-quarter revenue was up 5 percent to $7.51 billion.