The FINANCIAL -- The Coca-cola Company reports solid fourth quarter 2009 operating results, with unit case volume increasing 5 percent, successfully cycling 4 percent growth in the prior year quarter.

For the full year, unit case volume increased 3 percent, in line with our long-term volume target. Internationally, we achieved broad-based unit case volume growth of 6 percent in the fourth quarter, cycling 6 percent growth in the prior year quarter.

“In the quarter, unit case volume increased strongly in key emerging markets (China +29 percent, India +20 percent), developing markets (Brazil +8 percent, Mexico +4 percent) and developed markets (France +12 percent, Germany +3 percent). Further, in the 118 countries with per capita consumption of Company products less than 150 eight-ounce servings per year, we achieved 12 percent unit case volume growth in the quarter,” The Coca-cola Company informs.

We gained volume and value share globally in nonalcoholic ready-to-drink (NARTD) beverages for the tenth consecutive quarter with share gains across most key categories. For the year, we gained volume and value share in total NARTD beverages as well as in both the sparkling and still beverage categories. The combined power of the global "Open Happiness" campaign and the strength of holiday programs drove growth in brand Coca-cola . Brand Coca-cola unit case volume grew a solid 4 percent in the quarter, with strong growth across global markets, including 22 percent in India, 13 percent in China, 12 percent in France, 5 percent in Mexico and 4 percent in Germany. Total sparkling beverage unit case volume increased 3 percent in the quarter, with international sparkling beverage unit case volume increasing 5 percent, cycling 4 percent growth in the prior year quarter. Total still beverage unit case volume increased 9 percent in the quarter, led by growth across the portfolio, including juices and fruit stills, teas and water brands. Still beverage unit case volume increased 14 percent internationally and was even in North America.

"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, Chairman and Chief Executive Officer, The Coca-cola Company.

"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. Early last year we committed to align our Company and our system to emerge from this global crisis stronger. Our performance results for the year underscore that we are doing just that. Now, with our 2020 Vision as our roadmap, we look forward to entering our next decade of growth as we work closely together with our bottling partners to usher in a new era of winning for the Coca-cola system."

Financial Highlights

• Fourth quarter 2009 reported net revenues increased 5 percent and were impacted by six fewer selling days, which offset the impact of five additional selling days in first quarter 2009 results. Excluding the impact of six fewer selling days, we estimate that fourth quarter currency neutral net revenues would have been in line with our long-term target. Reported net revenues for the full year decreased 3 percent. Excluding structural changes, full year net revenues increased 4 percent on a comparable currency neutral basis.

• Fourth quarter 2009 reported operating income increased 4 percent, and comparable currency neutral operating income was even. Excluding the impact of six fewer selling days, we estimate that fourth quarter comparable currency neutral operating income would have been ahead of our long-term target. Reported operating income for the full year decreased 3 percent. Comparable currency neutral full year operating income increased 7 percent, in line with our long-term growth target. This was driven by a continued strong focus on cost management and the leveraging of productivity initiatives.

• Cash from operations for the full year increased 8 percent to $8.2 billion, and we repurchased $1.5 billion of our stock for the full year.

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