Please copy and visit
"https://integrated2021.cci.com.tr"
address in one of the following
browsers.

CHAIRMAN’S MESSAGE

Dear Stakeholders,

When we published our Integrated Annual Report for the first time last year, it also meant the start of a new era in Turkish FMCG industry. Combining our financial and non-financial performance with our business plan, the report has allowed us to both communicate our success, and share our vision for the future. Today, I am proud to announce our second Integrated Annual Report to share the value we created for all our stakeholders throughout 2021.

This report, at the same time, serves as a proof to reflect the true values of Coca-Cola İçecek. Taking its strength from teamwork and passion, the ultimate result of our work is revealed in this report, in line with the principles of accuracy and accountability. Our sustainability strategy is centered around the concept of “creating value” and it is the core of every step we take towards our vision of “becoming the best FMCG company”.
AN OVERVIEW OF CCI
Chairman’s Message
While we communicate our success and areas of improvement to each group of stakeholders in our value chain, we also disclose every step we take in full transparency as we continue to grow as a business through our environmental policy and sustainability reports, which were first published in 2002 and 2009, respectively. In all our industries and brands, we strive to create value for our stakeholders in every business activity and our ultimate goal is to extend our culture and values, the very core of our existence, into the future.
2021 saw major events such as different variants of the Covid-19, vaccination programs, challenges in the global supply chain, increased costs of energy and commodity, logistic issues, a global trend of inflation and the recovery of economic growth. Despite this challenging environment, CCI managed to achieve considerable financial and operational success in 2021. Along with such progress came historical milestones, such as addition of Uzbekistan to our operational geography to extend our reach to 11 countries and 430 million people. After acquiring the majority shares of Coca-Cola Bottlers Uzbekistan during its privatization journey, we claimed full ownership by purchasing the remaining minority shares from The Coca-Cola Company. We were very quick to start with the integration process and have come a long way so far. This acquisition has both empowered our position in the specific geography and proved our successful collaboration with The Coca-Cola Company. As an important bottler as well as an integral partner of the Coca-Cola ecosystem, we will only reinforce the foundation of our strong collaboration in the future.
2022 has also started strong, thanks to our robust financial structure and the reassuring evaluation made for our company by international associations. In January, we issued the first sustainability-linked bond of the beverage industry in EMEA region. While the risk appetite towards developing countries shrank, we issued bond worth 500 million US dollars with a 7-year term of maturity at an interest rate of 4.75% as a part of our borrowing initiative. This allowed us to finalize Turkey’s largest sustainability-linked bond issuance with a cost 300 basis points lower than the government’s reference borrowing rate for foreign markets. Issuance of these bonds also demonstrated the strong alignment between our financial strategy and focus areas of sustainability.

As we close a challenging year, we proudly look back and see the success coming in the form of collective efforts and unity. Even though this difficult course has meant a transformation in our business plans, we managed to spend a successful year thanks to our highly disciplined financial management, profitable operations and sustainability-oriented business strategy. I expect 2022 to offer new and effective solutions for sustainable growth, especially with innovative technologies and R&D initiatives coming into play. Our biggest wish for the new year is, of course, to see the wheels of economy starting to re-function even more strongly, and to achieve a state of stability and predictability in our country.
It is essential that we all raise awareness of the requirements the future is holding for us and focus on strategies that create value and benefits. The key here is to produce and to stay productive to step into the future with confidence, achieve stability in everything we do and sustain growth. I would like to take this opportunity to thank our employees for their passion and commitment. What made these achievements possible was also the contributions we received from our business partners, customers, dealers and distributors, as well as the support from our stakeholders. As our esteemed stakeholders, I would like to thank you all for your belief and support in CCI, and I hope you will enjoy reading our second Integrated Annual Report.
Best regards,

Tuncay ÖZİLHAN
Chairman