Coca-Cola HBC, the Greek stock with the highest capitalisation, is staring at massive losses after The Coca-Cola Company decides to suspend operations in Russia.
That is not only because it risks losing some 20% of its sales volume and operating profits, but also because the group has significant production activity in Russia, with 10 factories, from Moscow to Vladivostok and from Saint Petersburg to Novosibirsk.
It is no coincidence the Greek group did not clarify in a statement on Wednesday whether it would suspend its operating units or not: “Following the recent statement by The Coca-Cola Company, according to which it is suspending its activity in Russia, we are cooperating closely for its implementation respecting its decision in full, and assessing carefully the best possible options for our employees, clients and suppliers in Russia,” read the CCHBC statement.
