The economic impact of the Coca-Cola System in Bulgaria for 2023 is stated in an added value of nearly one billion BGN

At a special event, in front of representatives of the business, non-governmental sector and the media, The Coca-Cola System in Bulgaria presented its socio-economic impact for the past year.

Sasa Markovic, the general manager of Coca-Cola HBC Bulgaria welcomed the guests. "As the largest producer of soft drinks in the country, we are aware of our responsibility not only to our nearly 40,000 customers and partners, but also to society, the environment and future generations. The achieved results motivate us to aim higher, namely to achieve net zero emissions by 2040, and to collect and recycle 100% of the packaging we put on the market by 2030. Our aspirations and expectations towards us are even more ambitious after, with its overall business performance, our team in Bulgaria won the biggest award among all 29 markets, part of Coca-Cola HBC - the "Andrew David" Cup. "The secret ingredient in the recipe for all our successes has always been the team. The Coca-Cola system in Bulgaria employs 3,270 people in our factories and offices. We are proud of the innovations we implemented in Coca-Cola HBC Bulgaria to continuously improve how we do things, for example our "Oxygen" initiative not only saved over 24,000 hours of work for colleagues, but also improved the engagement of our team and customer satisfaction.”

The economic impact of the Coca-Cola System in Bulgaria for 2023 is expressed in added value of over BGN 994 million along the entire value chain. Its total contribution equals 0.5% of the country's gross domestic product, and every BGN 1 spent on Coca-Cola drinks leads to BGN 0.75 in revenue for Bulgaria. The system also strengthens its support for the Bulgarian economy through the purchase of goods and services for BGN 222 million from local suppliers.

"Coca-Cola has been present in Bulgaria for almost 60 years and today we are glad that we are a local business with a significant role in the country’s economy. For Coca-Cola Bulgaria plays an important role - 5 companies from our System are active here. Coca-Cola Bulgaria is responsible for the marketing strategies of the existing portfolio and the development of new and innovative products. One of our top 5 global bottling partners is represented in the country - Coca-Cola HBC, along with its two business and IT shared services centers. Coca-Cola Europacific Partners are also presented with their shared service center. This unique advantage, combined with our leadership position in the industry in Bulgaria, comes with a responsibility to create value for the Bulgarian society. Our goal is to refresh the world and make a difference. We focus on loved brands, done sustainably, for a better shared future," said Bosko Popeskov, executive director of Coca-Cola Bulgaria.

The analysis also shows that the companies of the Coca-Cola System in Bulgaria have directly generated revenues in the amount of over 234 million BGN. At the same time, they paid BGN 50 million in direct taxes and contributed to more than BGN 371 million in indirect taxes, of which BGN 221 million in the form of VAT. The amount is equal to nearly 1% of Bulgaria's tax revenues, as well as to about 2/3 of state spending on culture*, or to the amount needed to finance the annual educational expenses of nearly 170,000 students in primary school and preschool**.

Details of the socio-economic impact of the Coca-Cola System in Bulgaria for 2023 can be found here.

* Government spending on cultural services in 2021 (latest reported) : €310 million (Eurostat);

** Based on government spending on pre-primary and primary education and pupils enrolled at those levels in 2021 (€ 570 million spent and 453,403 pupils respectively, Eurostat)