NEWS

Coca-Cola HBC Cyprus: Positive impact on the country's economy and employment – 0.3% impact on GDP and employment

Nicosia, 10.07.2025 – The significant impact of Coca-Cola HBC Cyprus on the Cypriot economy and society is confirmed by EY Cyprus Advisory Services Ltd's study on the Company's Social and Economic Footprint for 2024, which was presented at an event with suppliers and customers of the company and institutional bodies.

The study examines the contribution of Coca-Cola HBC Cyprus to the economy and employment and as it is depicted, the company's production model creates, together with its customers, suppliers, people and thousands of businesses, a resilient, flexible and sustainable value chain that leaves a positive impact on the country.

According to the findings of the report, the total contribution of the value chain it generates in Cyprus for 2024 is reflected as follows:

On the economy:

  1. €77.9 million the impact on  the country's Gross Domestic Product (GDP) (0.3% of GDP).
  2. For every €1 of Coca-Cola value added in Cyprus, a total of €3.3 is generated in the Cypriot economy.

For employment:

  1. For every 1 direct job at Coca-Cola HBC Cyprus, another 5 are created in the Cypriot economy.
  2. It supports 1365 total jobs (0.3% of total employment in the country)

The company represents 41% of the turnover and  employs 21% of the industry's employees in the beverage industry. In addition, it cooperates with over 750 local suppliers, supporting local production and trade, and produces in its 3 factories in Cyprus over 60% of the products it distributes.

SvetoslavAtanasov2

I am proud of our long course in Cyprus for over 7 decades, having a productive activity with a significant positive footprint for the country. We have established a relationship of trust, which creates value that remains in Cyprus. We thank our people, our partners, customers and suppliers, but also the Cypriot consumers for their trust. Together we support the economy and employment, having a positive impact and opening horizons for a better future.

SVETOSLAV ATANASOV GENERAL MANAGER OF COCA-COLA HBC FOR GREECE AND CYPRUS
GeorgePriftakis

We are a Cypriot company, a member of the Coca-Cola HBC Group and a strategic partner of The Coca-Cola Company. We are a company focused on development with a production and commercial model deeply rooted in the country. Together with local suppliers, partners, thousands of businesses and our people, we create a value chain with a significant footprint.   A value chain that has demonstrated remarkable resilience. The value we create together stays in Cyprus and this is exactly what EY Cyprus' study reflects.

GEORGE PRIFTAKIS SALES DIRECTOR CY

I warmly congratulate you on today's event and your contribution to the great collective effort for an even stronger economy. I have no doubt that Coca-Cola HBC Cyprus will continue to respond successfully and consistently, as it has done repeatedly to date, creating a strong example to be emulated for the entire production sector of our country.

GIANNIS PANAGIOTOU MINISTER FOR LABOUR AND SOCIAL SECURITY ON BEHALF OF THE PRESIDENT OF THE REPUBLIC
George Priftakis, Sales Director CY, Filokypros Roussounidis, General Secretary of the CCCI, Yiannis Panagiotou, Minister of Labour and Social Insurance, Svetoslav Atanasov, General Manager of Coca-Cola HBC Greece & Cyprus, Dimitris Vakis, First Vice-President of OEB George Priftakis, Sales Director CY, Filokypros Roussounidis, General Secretary of the CCCI, Yiannis Panagiotou, Minister of Labour and Social Insurance, Svetoslav Atanasov, General Manager of Coca-Cola HBC Greece & Cyprus, Dimitris Vakis, First Vice-President of OEB George Priftakis, Sales Director CY, Filokypros Roussounidis, General Secretary of the CCCI, Yiannis Panagiotou, Minister of Labour and Social Insurance, Svetoslav Atanasov, General Manager of Coca-Cola HBC Greece & Cyprus, Dimitris Vakis, First Vice-President of OEB

The study was prepared by EY Cyprus Advisory Services Ltd based on financial data for 2024, by Coca-Cola HBC Cyprus. The Social and Economic Footprint Report of Coca-Cola HBC Cyprus is available here.