Dear people,

I would be very interested in your opinion.

The main component of my portfolio should be the $VWRL (+0.24%) with 60% and as satellites 30-35% $ASML (-0.84%)
$NOVO B (-21.14%)
$ALV (+1.63%)
$MSFT (+0.85%)
$GOOGL (+1.41%)
$PEP (+1.93%) then one share in the industrial sector e.g. $SIE (+0.89%) and one in the energy sector.

The last 5-10% will be in $BTC (+0.02%) why only $BTC (+0.02%) ? because I don't know anything about crypto and don't feel like informing myself, but I would like to have a small position.

I would be interested to know if you think I have too large an EU share or too few China shares, as I don't want to add an emerging market ETF.

Do you have other industrial stocks and energy stocks that aim for growth and pay a dividend? They don't have to be big, but a little would be nice.

MfG Flow

Coca Cola $KO (+1.89%)

In a half-year characterized by geopolitical tensions, consumer restraint and currency fluctuations, Coca-Cola delivers solid results.

Coca Cola $KO (+1.89%) is the smallest single stock in my portfolio, but I intend to expand it as a dividend stock and anchor in the long term.

In this article you will find everything you need to know as an amateur investor. The basis is the current Earnings Release [1] and the Earnings Call [2].

Market reaction despite good figures currently rather negative, perhaps more was expected, especially after the good figures from Pepsi $PEP (+1.93%) last week with a reaction of +7%.

First to understand:

GAAP vs. non-GAA

Coca-Cola publishes two types of financial figures:

GAAP (reported): According to US accounting standards including special effects.

• 
  Example Q2 2025: Reported sales are USD 12.64 billion, influenced by the sale of bottling plants (refranchising) and negative currency effects.

non-GAAP (adjusted): Without distorting one-off effects, meaningful for investors

• Organic sales growth of +7% is a realistic view of the operating business

Financial overview Q2 2025

Sales (reported/GAAP): USD 12.64 bn (+2 %)

• Including currency effects and structural changes such as the sale of bottling plants
• This is the "official" turnover according to accounting (GAAP)

Organic sales growth (non-GAAP): +7 %

• Adjusted for currency effects & structural changes
• Shows how strongly the core business is really growing - without distortions

EPS (earnings per share, reported/GAAP): 0.78 USD (+1 %)

• Earnings per share including all special and one-off effects

Adjusted EPS (non-GAAP): 0.74 USD (±0 %)

• Shows the operating earnings per share, excluding one-off effects, important for the sustainable assessment

Sales volume (unit case volume): +1 %

• Coca-Cola has sold more beverages, which shows that there is also real demand
• One "unit case" corresponds to about 24 small bottles, measured by volume sold, not revenue

Price-mix growth: +6 %

• Sales growth also came from price increases and a higher proportion of more expensive products
• Example: More zero sugar or premium variants such as Coca-Cola Orange Cream

💼 Focus on operating profitability

Operating profit (reported/GAAP): +5 %

• Despite inflation, taxes and currency effects, Coca-Cola was able to generate more operating profit
• Reason: good price management, product mix & cost discipline

Operating margin (reported): 30,6 %

• For every dollar of sales, 30.6 cents remain as operating profit
• A very strong figure, typical for asset-light companies like Coca-Cola

Adjusted operating margin (non-GAAP): 32,6 %

• Previous year: 32,8 %
• Despite slight decline, Coca-Cola remains highly profitable, important benchmark for investors

In a nutshell:

Coca-Cola delivers in Q2 2025:

• Stable sales growth despite difficult conditions
• high profitability with over 30% operating margin
• Real volume growth plus price strength
• still little susceptible to economic fluctuations

📦 What is "unit case volume"?

Coca-Cola measures sales volume in "unit cases":

One "case" equals 24 8-ounce servings.

• This metric shows how much was sold in real terms, regardless of price.

CEO James Quincey

"We grew volume and value share during the quarter despite continued macroeconomic pressure."

The fact that volume is up by 1% is a solid sign in an environment of subdued consumption. Consumers drink Coca-Cola products despite inflation and reluctance to buy

EXCURSE:

In recent years, Coca-Cola has sold many of its own bottling plants to independent partner companies, a process known as "refranchising".

Why?

• Coca-Cola wants to concentrate more on brand management, formulation and marketing, not on expensive production and logistics.
• The bottlers take over production, packaging and distribution, while Coca-Cola collects license fees and sells concentrates.

What does this mean for the figures?

• When Coca-Cola sells a bottling plant, its sales are removed from the balance sheet, which can cause reported sales to fall, even if the business is doing well.
• Organic sales are therefore adjusted to show how the core business is really developing.

🌍 Regions

EMEA = Europe, Middle East & Africa

• -1 % sales

Burdened by the strong US dollar, weak consumer sentiment in parts of Europe & unstable markets in Africa.

"We faced softness across certain African markets and some Western European countries."

... in case you were also wondering why exactly these regions (Europe, Middle East & Africa) are grouped together?

Operational management at Coca-Cola is based on regions with comparable logistics markets, not a geographical coincidence.

North America

• ±0 % volume, but operating margin +3 %

Stable market, but:

James Quincey:

"Consumer sentiment weakened as the quarter progressed, especially among Hispanic consumers."

Latin America

• +3% volume, strong price mix

Brazil & Mexico drive growth, even with difficult inflation.

James Quincey:

"We successfully executed pricing strategies in Brazil, with resilient consumer demand."

Asia-Pacific

• +1 % volume, India as highlight

In India, 350,000 points of sale were added: kiosks, supermarkets, restaurants, etc.

James Quincey:

"We added 350,000 outlets and increased household penetration significantly."

Classification:

These "outlets" are e.g. kiosks, restaurants, supermarkets.

The number is large, but India is a huge market, the growth means: more availability and visibility of the brand in the everyday life of consumers.

Household penetration means that more households are regularly consuming Coca-Cola products.

🥛 What actually is fairlife...

• fairlife is a US dairy subsidiary with a focus on high-protein dairy products
• Coca-Cola took over the brand completely in 2024
• According to Call, the brand is developing well, but growth is currently slowing down slightly as capacity is being expanded

John Murphy (CFO):

"fairlife continues to deliver strong performance. We expect growth to moderate ahead of new capacity coming online."

Meaning:

• fairlife can become a strong source of cash in the medium term, comparable to Monster Energy, but in the "better-for-you" segment.

"We're seeing strong traction with our better-for-you offerings that tap into the energy category, combining functionality with wellness"

Product highlights: what's going well, what's not so much

Coca-Cola has long been more than just a red can. The Group sells over 200 brands in more than 200 countries, including

• classic soft drinks (Coca-Cola, Sprite, Fanta)
• Water & sports drinks (e.g. Smartwater, Powerade)
• Coffee & tea (Costa, Fuze Tea, Ayataka)
• Dairy products & plant-based alternatives (fairlife, AdeS)
• Alcoholic drinks (Topo Chico Hard Seltzer, Jack Daniel's & Coca-Cola Mix)

What went particularly well in Q2?

Coca-Cola Zero Sugar

• Continued growth driver worldwide
• Particularly strong in North America, India and Japan
• Positioned as a healthier counterpart to classic Coke

James Quincey:

"Coke Zero Sugar continued to grow globally and win market share."

Fanta & Sprite

• Fanta with strong growth thanks to new campaigns
• Sprite with comeback in China (after declines in the previous year)

Ayataka (green tea)

• Particularly popular in Japan & South Korea
• Strong volume growth in Q2

fairlife (protein milk)

• Continued very good development - however, growth temporarily slowed due to production bottlenecks
• Target: expansion of production capacity by 2026

Simply Pop (new prebiotic soda)

• Market launch in the USA in February 2025

CFO John Murphy:

"Simply Pop is off to a strong start in key retail channels."

Topo Chico (mineral water & hard seltzer)

• Remains a niche growth driver, especially among younger consumers

James Quincey:

"Topo Chico continues to resonate with the next generation of consumers."

Innovation & Marketing: Coca-Cola 2025

• "Studio X": internal digital agency that rolls out customized campaigns globally at lightning speed
• "Share a Coke" 2025 is back - with a focus on Gen Z, digital experiences & personalization
• Connected packaging: QR codes on bottles link to exclusive content & competitions
• "Hecho en México" campaign in Latin America: aims to strengthen trust and locality

⚠️ Risks and challenges and how Coca-Cola is responding

1 . Consumer sentiment remains fragile

• The call explicitly refers to reluctance to buy in North America
• Particularly affected: Hispanic consumers and lower-income groups

2 . Currency pressure

• The strong dollar depresses profits from emerging markets
• EMEA, Africa & Latin America particularly affected

A strong US dollar makes international sales in local currency less valuable when converted back into USD.

John Murphy:

"Currency headwinds could impact EPS by up to 6 percentage points in 2025."

🇲🇽 Example1 Coca-Cola in Mexico brings in pesos, but when the dollar is strong, less profit remains in USD

3 . Commodity costs & wages

• Commodity prices (sugar, aluminum, plastic) rise slightly again
• Labor costs rise, especially in North America and Western Europe

No direct pressure on margins at present, but Coca-Cola remains vigilant

4 . fairlife growth delay

• Production capacities must be expanded in order to serve new markets
• Until then: slower growth before a new push comes

Concluding quotes from the earnings call

CEO James Quincey

"We delivered volume growth and organic revenue growth at the high end of our long-term algorithm."

• In Q2 2025, Coca-Cola achieved exactly the targets it had set itself for the long term, despite headwinds (e.g. weak economy, currency effects).
• "Long-term algorithm" refers to the growth targets set internally: around 5-6% organic sales growth, 7-9% profit growth (non-GAAP) per year.

"Our system is adapting quickly and creating enduring value even in volatile markets."

• The strength of the Coca-Cola system (group + independent bottlers) is emphasized here. Coca-Cola can also react quickly to inflation, wars or geopolitical uncertainty, e.g. through price adjustments, local campaigns or product innovations.

Quincey's message to investors: "Don't worry our system is crisis-tested and robust.

CFO John Murphy:

"Comparable EPS was flat year-over-year despite currency headwinds and a higher effective tax rate."

• Adjusted earnings per share (comparable EPS) did not fall, although currency effects (strong dollar) reduced profits abroad
• The tax rate (i.e. the percentage that Coca-Cola has to pay to the tax authorities) has increased
• This should show: "Even with headwinds, we deliver stable results."

"We're confident in our 2025 guidance and continue to execute our all-weather strategy."

• The famous "all-weather strategy" stands for Coca-Cola's ability to deliver predictable and stable results even in stormy and rainy weather (economic crises, etc.).
• "Guidance" refers to the outlook for the current year, here the CFO says: "We are sticking to our targets, no correction necessary.

✅ Conclusion: Coca-Cola... boring, but profitable

Coca-Cola does not deliver any growth fantasy, but no nasty surprises either.

In a globally fluctuating environment, the Group remains reliable, profitable and broadly positioned.

• The dividend is secure.
• The brand power is intact.
• Pricing is working (6% price-mix growth!).
• Sales continue to grow in emerging markets.

My assessment:

📊 Coca-Cola remains a robust basic investment for dividend investors.

Not spectacular, but that is precisely what makes it attractive in uncertain times.

Comment Wallstreet Online

"The US bank JPMorgan has left its rating for Coca-Cola at "Overweight" with a target price of 77 US dollars. The quarterly result topped expectations thanks to a solid margin, wrote Andrea Teixeira on Tuesday. The stable growth and the currency-related increased forecast should be sufficient for further outperformance of the shares"

_____

Thanks for reading! 🤝

_____

Sources:

[1] https://investors.coca-colacompany.com/_assets/_d2d15570a4df8e28627ac187d47e62d2/cocacolacompany/db/880/11064/earnings_release/Coca-Cola+2025+Q2+Earnings+Release_Full+Release_7.22.25.pdf

[2] https://web.quartr.com/link/companies/4595/events/339526/transcript?targetTime=0.0

• 
  
  $PEP (+1.93%)
  reported a net profit of 1.26 billion US dollars for the second quarter on Thursday.

• The company, based in Purchase, New York, reported a profit of 92 US cents per share per share. Adjusted for one-off gains and costs the profit amounted to 2.12 US dollars per share.

• The results exceeded Wall Street expectations. The average estimate of nine analystsanalysts, compiled by Zacks Investment Research were surveyed was 2.03 US dollars per share.

• The food and beverage company generated revenues of turnover of 22.73 billion US dollarswhich also exceeded forecasts. Seven analystspolled by Zacks had predicted 22.39 billion US dollars expected.

• Youtube channel for stock analysis: www.youtube.com/@Verstehdieaktie

As the earnings season starts again, here is a summary of the most important figures next week.

$JPM (+0.3%)
$C (-0.38%)
$WFC (-0.99%)
$BLK (+0.63%)
$JNJ (+1.59%)
$GS (+0.83%)
$BAC (+0.07%)
$AA (-0.36%)
$ASML (-0.84%)
$PLD (+1.33%)
$UAL (-0.46%)
$KMI (+1.52%)
$PEP (+1.93%)
$ABT (+0.96%)
$Netflix
$TSM (+0%)
$USB (+0.21%)
$IBKR (+0.37%)
$AXP (+0.21%)
$MMM (+0.29%)

Hello everyone,

I wanted to introduce my current depot...I'm 34 years old, married and earn my living as a train driver.

I myself only started actively investing at the beginning of 2024before that I had little to no basic knowledge - so to be honest I'm pretty naive started. 😅

In the meantime, I've gone deeper, read a lot, analyzed, improved - and built up a long-term plan.

🔍 My goal:

A robust, stable portfolio with a focus on:

• long-term wealth accumulation
• regular passive income through dividends
• a small admixture for future themes (Bitcoin)

This is what my portfolio currently looks like:

🧱 ETF as a foundation

• $IWDA (+0.27%)
  iShares Core MSCI World (ACC) - 100 €/month

➡️ The MSCI World forms the broad basis and is intended for long-term asset accumulation.

🏢 REITs & real estate dividends - for monthly cash flow

• $O (+0.94%)
  Realty Income - 50 €/month
• $STAG (+1.6%)
  STAG Industrial - 25 €/month
• $VICI (+1.48%)
  VICI Properties - 50 €/month

➡️ My focus here is on monthly and stable dividendsespecially from Realty Income.

💸 Dividend stocks (consumer goods & energy)

• $MBG (-0.85%) Mercedes Benz Group - 50 €/month
• $PEP (+1.93%)
  PepsiCo - 50 €/month
• $KO (+1.89%)
  Coca-Cola - 50€/month
• $CVX (+0.53%)
  Chevron (new) - 50 €/month
• $EUHD (+0.65%) Invesco EURO STOXX High Dividend Low Volatility UCITS ETF Dist - €100/month

➡️ I would like to build up a reliable long-term dividend cushion here - defensive brands such as KO/PEP have "peaceful sleep quality" for me.

₿ $BTC (+0.02%)
Bitcoin

• Savings plan: €50/month

➡️ This is my "future addition" - deliberately kept small, but built up regularly.

💰 Liquidity

• Overnight money account reduced to ~€5,000 (nest egg)
• Previously a car purchase (~€28,000) and caravan purchase (~€21,000) were made

📆 My strategy:

• Follow through with savings plans consistently
• Reinvest dividends
• No more panic selling, just learn & observe

💭 Conclusion:

I know I didn't start not started with perfect conditionsbut I try to learn from mistakes and build solidly in the long term.

My portfolio is still being built up, but it already feels quite coherent: broad-based, cash flow-oriented and with a view to the future.

#crypto
#etfs
#dividends
#portfoliofeedback #newbie

Can I also ask a beginner's question (as a safeguard)?

I bought 14 $PEP (+1.93%) all with a buy in of € 144 some time ago. As you know, the share then fell sharply (currently -20.43%), so it should be quite a long time before I am at least back to zero.

My loss pot is still pretty empty (I ended up here in June with a total of + 1.7%), so is there any point in selling everything now at €115 and then buying in again with the low buy in, would I then regularly top up again?

Thanks and best regards

First the new transaction.

$PEP (+1.93%) 2 further shares.

$COLO B (+0.57%) increased by 4 shares and also $KNIN (-0.52%) into the portfolio. In return $HLAG (+1.44%) out soon.

On the actual topic: After I reached my first $SOFI (+12.31%) my first 100% + share, the first 200% share was also reached today with Sofi🎉. Robinhood was close to the 200%, but didn't crack it. Considering that the euro/US dollar exchange rate is now clearly somewhere else, it's considerable either way.

Hello everyone and have a nice Sunday. I would like to hear your opinion, hard-hitting and honest, on my current portfolio.

I would like to emphasize up front that I have only been investing money since the beginning of 2023. My journey started directly with the tough crypto market. But good thing... As a result, I am very much in the plus with BTC and some altcoins... and very much in the minus with others... that's life 😁

I got into the stock market and my ETF savings plan in May 2024.

Since then, I've been investing in these 3 ETFs every month:

1) $IWDA (+0.27%) 50% - currently + 6.1%

2) $EIMI (+0.64%) 30% - currently + 6.6%

3) $RBOT (+0.43%) 20% - currently + 8.6%

Also bought some individual stocks such as $MSTR (-1.89%) , $COIN (-2.1%) , $PLTR (-0.47%) , $RIOT (-5.69%) and many more. I am also strongly up on the majority of them.

I monitor the markets on a daily basis and am increasingly looking for opportunities to pick up good and interesting ETFs or, in some cases, individual stocks (focus on dividends)

I have now made the following adjustments or added stocks (ETFs) in recent months:

4) $JEPQ (+0.96%)

5) $JEGP (+0.97%)

6) $TDIV (+0.64%)

I have included the two from jpmorgan as distributing etfs to generate additional cash flow. Getting money every month is just a good feeling and I thought I'd rather do it with these etfs than look for additional individual stocks.

The $TDIV (+0.64%) I have read a lot here and then decided to include it because it is doing really well and looks very interesting 🔥😎

So I now own 6 Etf's and sometimes I have the feeling it would be better to only have 2-3. But I find the 3 new distributing etfs really appealing due to the monthly or quarterly cash flow.

Individual stocks with a focus on dividends and which I have bought heavily in the last few months are :

1) $PEP (+1.93%)

2) $O (+0.94%)

3) $MAIN (-0.96%)

4) $RIO (+0.97%)

And brand new since last week

5) $ALV (+1.63%)

I would like to say goodbye to the following values in the near future:

$STAG (+1.6%)

$JNJ (+1.59%)

$TXN (+1.73%)

So there would be 11 stocks or securities in my long-term portfolio that I would like to save monthly or via DCA over the next 20-30 years.

I'm still new to the world of investing. Just under 2.5 years is nothing I would say. I would therefore be grateful for any tips on what I should possibly change or improve.

The dividends from the individual shares and ETFs always go into the $IWDA (+0.27%) because I want to increase its share, which alone should make up at least 50% I would say!

Unfortunately, I currently only have €350 to invest each month. But I currently have almost 100k in the markets. Most of it is in cryptos... but at the end of the year everything will be completely liquidated and then I'll have some cash to invest again!

Now it's your turn.

Thanks in advance.

Best regards

Chris 👋🤝😎

... and the day before $PEP (+1.93%) topped up 😄 It seems to me that we've seen the low point there. But I thought that before too 😅