The rivalry between the two iconic soft drinks manufacturers Coca-Cola $KO (+1,08 %)

and PepsiCo $PEP (+0,03 %)

has been going on for decades. Of course, it's not just about who has the tastier drinks in their portfolio, especially the best cola, but also about whose share has delivered the better performance.

Here, the point currently goes very clearly to Coca-Cola, a stock that has long been held in high esteem by investor legend Warren Buffett: the share currently offers the better performance at all time levels. Only in comparison with 30 years ago does PepsiCo have the edge over Coca-Cola (+916%) with a total return of 1,023%, taking into account ups and downs.

The underperformance is mainly due to a weak share price development in the past quarters. In the last year alone, PepsiCo has lost a quarter of its value (taking the dividend into account). The reasons for this are a dip in growth, falling margins and, from the perspective of at least some investors, a dilution of the product portfolio: PepsiCo has recently sought to strengthen itself primarily through investments and acquisitions, including Celsius and Poppi, while arch-rival Coca-Cola has continued to focus on its core markets. The recent rise in yields on US government bonds has created additional headwinds: the company's dividend has come into competition with the high interest rate on bonds.

In view of the two-year downturn, the dividend yield now stands at 4.4%, while the company's valuation has fallen well below the historical average. This has attracted both dividend hunters and value-oriented investors who believe there is a chance of a turnaround. Although at first glance the chart does not invite investors to buy the share, there are glimmers of hope that could provide an anti-cyclical entry opportunity.

PepsiCo chart signals

Overarching downward trend:

After reaching an all-time high of USD 196.88, PepsiCo shares are trading in a multi-year downtrend.

Trend acceleration: The stock has broken out of its downtrend channel to the downside and has recently accelerated its slide.

Series of sell signals: The technical weakness of the share is pronounced and at the same time there is a so-called death cross in the moving average.

Anti-cyclical entry opportunity: The support at USD 130 and the first bullish divergences are now raising hopes of a trend reversal.#cola

Hello Getquins,

As always, I'm starting my summer a little early with a vacation. This time it's not Asia but surprisingly :-) the USA.

As it's my first vacation in this country (otherwise only on business) I'm taking advantage of other opportunities, not just the company and hotel.

$ROST (+1,21 %) The shares of the company are very strong here and were not known to me as a share, the turnover, profit and share price in the past are very lucrative.

My investment $PEP (+0,03 %) I hardly see here except for sweets like Lay Chips but $KO (+1,08 %) is the leading beverage here.

I have $TSLA (-2,92 %) and am surprised at the company empire, the South African is doing (almost) everything right. His company Space X (now also rockets), the Boring Company opposite and batteries under construction for houses, companies and cities are a large portfolio.

They build like mad here, whether streets $CAT (-0,65 %)

$DE (+0,86 %) or entire residential areas with several hundred houses.

The integration of South Americans has been properly implemented here, you can see them working in construction, with the cleaning crew or as handymen in the trades. Whether this will work in Europe with state support is questionable, but it's a different topic.

Almost 90% of people here have $AAPL (+0,57 %) iphone, $F (+2,12 %) pickups or $GM (+2,61 %) a few European ones can also be seen here $VOW (-0,41 %)
$BMW (+0,24 %)

The bar culture, restaurants and dinners are very popular.

$BOM

Of course there is a huge $WMT (+1,92 %) and next to it the $CVS (+2,64 %)

Best regards and hope you had Easter or soon Whitsun vacation.

So long

Smudo

Good morning to the community.

I would also like to introduce my portfolio and share my thoughts and goals.

First of all, a bit about myself and how I got into trading:

I am 39 years old and have actually NEVER been interested in the stock market/shares. Through a lucky coincidence in the gambling sector, I suddenly had a 5-figure sum in my account. I then went on a kind of overnight interest rate shopping spree. At some point, however, there were no more offers that appealed to me and I ended up with TR call money. At first I didn't want to invest any money in shares or ETFs, but then I decided to take a look. That was in August 2024, when I caught the bug quicker than I would have liked and, thanks to a good friend, I was able to quickly gather some information and recognize the benefits of investing.

I've been invested ever since.

Now to the structure and goals of my portfolio:

The main focus is on an ACWI IMI in order to build up a certain amount of capital through compound interest. I am expecting an investment horizon of 20 - 25 years. The aim is to have built up a certain amount of capital by then so that I can make withdrawals later in and around retirement age and enjoy a good life in retirement without having to worry. The ACWI was the first major building block for diversification. However, I am honest and I was tempted to buy a portfolio with various individual shares. These are mainly dividend-oriented. Most of the positions pay stable dividends and have moderate growth. I deliberately chose many defensive stocks such as $MUV2 (+1,13 %)
$ALV (+0,45 %) or $JNJ (+1,86 %) in my portfolio so as not to be too speculative. Classics like $KO (+1,08 %)
$MCD (+0,68 %)
$PG (+1,21 %) round off the whole thing. I wanted to achieve an inflow of at least €100 per month over the entire year. Currently it's around €2150 for the whole year. I enjoy having a continuous inflow of dividends that I can reinvest freely. I really wanted to take this positive aspect of the investment with me. Accordingly, I also have very strong dividend payers in my portfolio, although they can be quite volatile and operate in a difficult market environment, e.g. $SHEL (+0,05 %)
$PETR4 (-1,36 %) or $MO (+1,95 %) . In December, I invested in shares of $HOT (-1,88 %) and $HEI (-1,57 %) with the idea that these companies could possibly benefit from the reconstruction of war zones. (I know that's perhaps not the nicest thought and I'm not a friend of wars either, but you have to ignore that when it comes to profits) and the shares of both have done really well for me. That's why I'm also invested in 2 defense ETFs. Another ETF I have in my portfolio is a "tech/software" ETF, AI & Big Data. Individual stocks were too risky for me here and I preferred to take a broadly diversified approach. I also recently added the Germany All Cap to my portfolio, as I think that Germany will be on the rise again in the future. As a small stock with the hope of a real cracker for the future, I have $DEFI (+5,32 %) in the portfolio. Let's see what happens. I'm currently running a savings plan of around 200 euros a month, as I don't have the funds to pump huge amounts of fresh money into my portfolio due to a house loan.

With this in mind, I would be grateful for any tips, suggestions and perhaps also positive words. If you have any questions, please let me know.

Kind regards

Dear Getquin Community,

As I would like to complete my portfolio with a maximum of 3 additional individual stocks in order to be represented in almost every sector, I need your support.

I am missing consumer staples, industrials and basic materials.

I would like to focus on growth with an ok dividend increase.

Do you know any good consumer stocks with good growth potential? $PEP (+0,03 %)
$KO (+1,08 %)
$ULVR (+0,74 %)
$PG (+1,21 %) The consumer stocks are good, but I don't feel there is much growth potential.

If possible, affordable shares as I can only buy whole shares. No $LOTB (+1,78 %)

industry I can't choose between $CAT (-0,65 %)
$SIE (+0,35 %) or something regional like $STR (-0,64 %) decide.

Basic materials: I'm absolutely not in there.

I would have looked at $LIN (+0,91 %)
$APD (+2,19 %)
$RIO (-1,52 %) although I see little upside potential in the latter.

Please let me know your opinion on this, or perhaps you have already had good or bad experiences.

MfG Flo

TL;DR like to roast my deposit, appreciate all opinions!

I always find the many posts here and reading various biographies very interesting, so I've wanted to say a few words for a while now.

Tried early, but started late

I am now 32 and unfortunately started investing seriously far too late, studied far too long, and with the larger salaries finally built up as much as possible and tried to catch up as quickly as possible. "Unfortunately" means for the most part the past calendar year, which is why I put a large part of my money into shares at already high prices and then had very little cash left in the crash to add to it. Fully invested, in other words. During the crash, I mainly reallocated and continued to fully invest what was left over from my monthly salaries.

Yet back in 2011, at the age of 18, I had a share called Facebook and a Starbucks share in my portfolio without much of a clue. I just wanted to know what my mother was actually doing with her shares and how it worked, and with FB and Starbucks I simply chose two companies that "everyone" uses/needs anyway. The idea wasn't that stupid, it worked, and after a short time I was happy about the small profit in absolute terms, sold the shares at DiBa despite the high fees at the time and simply forgot about shares for years - wealth accumulation, a word that wasn't in my vocabulary, the money I had was simply turned upside down as a young adult. Well, young me, just leave the shares lying around or, even better, take a closer look at them and carry on, it "might" have been worth it...

Of priorities and wrong horses

The years went by without any shares, but with lots of fast food and partying, but at least things have changed. At some point, I started to think about the future and wealth accumulation, first taking an interest in interest rates, and then the logical next step was dividends and shares. Unfortunately, it started rather haphazardly. As a student, I started investing small amounts, and of course betting on the wrong horses. Speculative lithium shares were particularly bad in this phase, unfortunately these were large sums even by my standards, from my grandfather's estate. That was bad. However, crypto was a very good horse, more precisely $BTC (-0,19 %) and $ETH (-1,32 %) which (as a computer scientist) I became interested in early on and exited several times with high profits, also thanks to domestic mining. It's just stupid that back then, in the last decade, I would never have imagined how cryptos would develop. If I had, I would have simply left it all, or at least part of it. You learn and you're always smarter afterwards anyway.

Fully invested - excessive, unhealthy, or simply good housekeeping?

So now I'm 32 - and proud of a portfolio that I think I've built up to a good size in a relatively short time. Which has given me other ideas for some time now. I'm still a long way from reaching my goal, but I have to get back on the "invest 100%" path, which has been completely contrary to my past for a long time now, and strangely enough, I'm finding it difficult to do so - something to reflect on. There are too many (supposed?) opportunities every day. So I simply could not $UNH (+1,54 %) after a long period of observation yesterday and of course the savings plans had to run today too. I think I've always been good at budgeting, or let's put it this way, at least good at getting by with the money available to me in a perfectly timed way, but "indulging", not just in company shares, may become a little more prominent again. I don't go without noticeably in everyday life, I need very little, which I don't think is a bad quality to begin with. But I have changed a lot in the area of "consumption" compared to the past. I think it would be good to find a healthy balance. In my opinion, just as you don't just live to work, but work to live, the same applies to saving/investing. I actually read a post here on gq today that described exactly that and I could relate to it very well. So, reflection and taking your foot off the gas is allowed - no, it's a must! I am familiar with frugalists, but I never wanted to be one. I'd be interested to know if anyone else here feels the same way, or did?

Wrong decisions, mistakes... and (hopefully) the right conclusions

Back to the topic! (Not only) on the way to today's portfolio I have made many wrong decisions, as already mentioned, so I thought that a well-kept portfolio roast could do me some good. Other, new opinions and assessments can't be bad!

In particular, in the past I have often missed the opportunity to simply let profits run their course and instead dragged losses around with me for too long (which brings us back to lithium). A thought that I recently had again when I was thinking about when it would make sense to $HIMS (+8,3 %) possibly realize, as an example. $PLTR (+7,32 %) and $NVDA (-2,46 %) are two examples that, like so many others, I naturally had on my radar, but they always seemed too expensive, the setback never came and I really missed the big rallies as a result. At the same time, I also get caught out by FOMO from time to time. So in both good and bad phases, I try not to just see red or green, fear or hope, but simply to evaluate what actually makes sense "from now on". Sometimes you realize a loss in order to try your luck elsewhere, sometimes you should let profits run, sometimes take them, sometimes endure the dip, sometimes be courageous and sometimes defensive. Easier said than done. I find it very nice and helpful to exchange ideas on this platform and how open and "yet" respectful it generally is. Of course, I will most likely never reach some portfolio sizes, but you can always learn something about how some people manage their portfolios, regardless of the absolute figures. You will always make mistakes, but at least you should deal with them correctly and draw the best possible conclusions.

Portfolio restructuring, planned investments / savings plans

And today? After some evaluation, research, regrouping and restructuring, I now have fewer, but still quite a few positions in different sectors, most of which are already of a decent and roughly balanced size. My medium-term plan is now to build up all positions to a certain target size. This is why I am currently running savings plans:

$MPWR (-2,66 %)

$AVGO (+0,55 %)

$ISRG (-0,67 %)

$DXCM (+0,54 %)

$DHR (-0,68 %)

$ALV (+0,45 %)

$9988 (-3,29 %)

$BRK.B (-0,27 %)

$APH (+1,34 %)

$MELI (+1,83 %)

$BLK (+0,61 %)

$RSG (+1,12 %)

$DGE (+0,56 %)

$VKTX (-4 %)

ETF/ETC:

$UBU7 (+0,11 %)

$EWG2 (-0,34 %)

Partly with small weekly amounts, until enough cash is available to fill the target position evenly. With $AVGO (+0,55 %) for example, there is not much left. Also $BRK.B (-0,27 %) / $APH (+1,34 %) and others are already approaching the target. In some cases with somewhat larger sums for still small but prioritized positions, until opportunities and/or resources for individual purchases arise, such as the $ALV (+0,45 %) and $RSG (+1,12 %) should be mentioned here, as well as $DGE (+0,56 %) as a turnaround candidate.

Once the aforementioned positions are full, I would like to turn my attention to the more defensive candidates that are already in the portfolio but which I am currently prioritizing - $MCD (+0,68 %) / $KO (+1,08 %) / $CCEP (+1,38 %) / $ULVR (+0,74 %) and others - and finally increase the ETF and gold share in the long term.

$VKTX (-4 %) is a bit of a gamble, as I have actually said goodbye to pharma - $ABBV (+0,8 %) / $NOVO B (+2,99 %) / $LLY (+2,9 %) and $MRK (+1,19 %) were still part of the inventory until recently. Instead, I decided to go with $DXCM (+0,54 %) / $ISRG (-0,67 %) / $DHR (-0,68 %) on medical technology.

$BTC (-0,19 %) remains a fixed value in the portfolio, while I $ETH (-1,32 %) (incorrectly entered due to staking - around 0.4 shares or €1000) and $XRP (-2,1 %) would/will sell at corresponding prices.

I still lack around €15,000 in individual stocks at current prices to bring all positions to the current desired/dream target. This will take some time, but is foreseeable. And then I would be really quite proud and happy "as things stand now"! In any case, I now feel very comfortable on the path I have chosen and, as I said, I have to stop myself from forgetting that not all money has to be invested all the time.

Savings rate

To put this into figures, I have averaged a savings rate of around €1500 over the last 24 months, with an average of €100 a month in dividends. 1400€ investment, that's about 82% of my monthly budget after deducting all "unavoidable" fixed costs including fuel and household, but not including consumption such as clothes, going out or vacations. Exaggerated, I can't say otherwise myself. But at least I have a good reason to step on the gas and get the compound interest going.

So what is all this for?

In the long term, my girlfriend and I dream of owning a property somewhere on the Croatian Adriatic, her homeland, and where I was able to spend many wonderful weeks with my parents every year as a child. A beautiful region that I consider an important part of my life, with many great moments and memories that may become even more. I hope to get closer to this goal "quickly" with the depot. The language is already halfway there! :)

In the long term, this would probably involve a little reallocation into value dividend payers, which should help with repayment. However, I would also like to lay the foundations for later distributions today, without neglecting growth. There is probably no perfect mix for this, but you are welcome to rate mine.

So, unfortunately I was once again unable to be brief. Thank you for reading, whoever has made it this far, and for your comments! I'm very excited and wish you all a great weekend.

Hello everyone,

With today's high, I have cracked my first target of €50,000 for the first time.

The next target is of course €100,000, hopefully by the end of 2026/beginning of 2027.

I would therefore like to present my portfolio to you and hope that you will have any suggestions for improvement and constructive ideas.

Basically, the focus is on buy and hold / growth. But a dividend is also nice.

I started thinking more intensively about the whole topic around the beginning/middle of 2023, at the age of 29. The aim is to possibly reach the millions after all, or in any case to have a more comfortable retirement later on.

Before that, it was more about trying things out or the "safe" investment that you get from your parents. In the meantime, we saved in stories such as DWS funds. I still have one of these "corpses", the DWS Vermögens... $HJUF (+0,12 %) .

However, this is also to be restructured in the near future.

I am currently working on increasing my ETF positions to get to a ratio of 50%/50%. I have not been so successful with this recently, as I have increased many individual stocks due to the low.

Actually, the iShares Core S&P 500 $CSPX (+0,1 %) and FTSE All-World $VWCE (+0,18 %) are in the foreground.

Yes, I am also saving here at the same time $VWRL (-0,36 %) for a few more dividends a year. You are welcome to give your opinion on whether this makes sense or whether you should only take one of the two.

My current monthly ETF savings plans at a glance,

Core S&P 500 $CSPX (+0,1 %) - 150€

All-World $VWCE (+0,18 %) - 70€

All-World $VWRL (-0,36 %) - 70€

MSCI World $IWDA (-0,04 %) - 40€

S&P 500 Information Tech $IUIT (-0,76 %) - 30€

All-World High Divid. $VHYL (+0,23 %) - 30€

VanEck Sustainable World Equal $TSWE (-0,26 %) - 30€

VanEck Developed $TDIV (+0,2 %) - 15€

iShare DJ Global Titan 50 $EXI2 (-0,56 %) - 15€

Here, too, a merger would be conceivable and also make sense.

For example, since I hold the DJ Global Titan 50 $EXI2 (-0,56 %) and the MSCI World $IWDA (-0,04 %) with a small amount for ages, I have not yet been able to part with them.

I still save the following shares weekly at €7 each on the side,

$BRK.B (-0,27 %)

$BLK (+0,61 %)

$PG (+1,21 %)

$PEP (+0,03 %)

$KO (+1,08 %)

In addition to the above, I buy individual shares, ETFs or top up positions worth a further €500, depending on prices.

On average, my monthly savings rate is therefore around €1,000-1,500.

As already mentioned, I would like to ask the community for their opinion, any suggestions for improvement and constructive ideas.

Thank you very much, best regards and happy trading days.

Warren Buffett criticizes Trump's tariff policy

Legendary US investor Warren Buffett has made a strong statement on President Donald Trump's tariff policy. At the shareholders' meeting of his holding company Berkshire Hathaway, he made it clear that trade should not be a weapon. Buffett warns against turning the rest of the world against the US, as this could be seen as a major strategic mistake. He emphasizes that a prosperous rest of the world can also benefit the US and that healthy international trade is beneficial for all parties involved. While Trump tried to promote domestic production with high import tariffs, these tariffs were quickly suspended after a dramatic slump in the stock markets. Nevertheless, the tariffs on China remain in place, which experts blame for possible future supply bottlenecks in the US. Buffett, who himself once proposed import certificates to reduce the trade deficit, does not see the current policy as a positive development for the economy. Berkshire Hathaway, which owns shares in major companies such as Apple $AAPL (+0,57 %) and Coca-Cola $KO (+1,08 %) has proven to be extremely successful over the years and could be adversely affected by such political measures.

Schenker sale to DSV causes change

The sale of rail subsidiary Schenker to Danish logistics giant DSV is now official, bringing a breath of fresh air to the industry. DSV is acquiring the DB division for over 14 billion euros, which could have far-reaching consequences for employees. Logistics professor Christian Kille comments on the possible effects of the sale and predicts that "one or two jobs could be lost". This indicates a possible reduction in jobs, which could be specified in the coming months. The changes at Schenker could also have an impact on prices for customers, which brings additional uncertainty. The entire logistics sector will be watching closely to see how the market develops following this significant sale. It will be crucial for DSV to successfully manage the integration of Schenker while maintaining the quality of its services in order not to lose the trust of its customers.

Sources:

https://www.n-tv.de/wirtschaft/Warren-Buffett-spricht-sich-gegen-Trumps-Zollpolitik-aus-article25743592.html

https://www.n-tv.de/mediathek/videos/wirtschaft/Die-eine-oder-andere-Stelle-wird-wegfallen-article25225544.html

Hi community,

after I briefly tested the 10k in March, I hope it will now stop.

About me: am now 42 years old, two kids (10 & 5) and aim to build the portfolio on monthly dividends alongside my ETF savings plans. Target no. 1 should be €100 gross dividend/month.

I started investing about 4 years ago, traditionally with the MSCI World (50€/month). The savings rate was so low because I had focused my cash flow on special payments for the condominium.

Priority 1 was that my family could live in the apartment safely, no matter what happened. The last installment is due in September 2026😁👌🏼.

I then expanded the savings plans piece by piece to include other ETFs (I know there are overlaps, but so be it😁).

Since the beginning of the year, my savings rate has now been €650 and I've added a few dividend stocks. I'll keep doing this until the ETW is finished, then look at how the individual stocks have performed and adjust my strategy accordingly.

Stocks like $KO (+1,08 %) & $O (+0,67 %) will be saved with €50/month until I retire, alongside my ETFs.

From September 26 I want to start with "trades" and see if I can get a bit more return.

My children now have their own junior custody account and the first savings plan in $VWRL (-0,36 %) was triggered on Friday😊😊.

Regards

Maverick

Coca-Cola $KO (+1,08 %) is in the top 10 of my largest positions with 2.5% of my portfolio. Therefore, here is my classification of the Q1 report [1] and earnings call [2].

Coca Cola is a classic in the portfolio for many, stable dividend, well-known brand, global presence.

The Q1 figures look strong. But as always: don't just look at the headline figures, but understand what's behind them.

How often do I start with one... two. explanations.

1. what does "reported" vs. "adjusted (non-GAAP)" mean?

Companies often publish two versions of their figures:

• Reported (GAAP): The official, correct figures according to US accounting standards

• Adjusted (non-GAAP): Figures excluding one-off effects such as special items, depreciation and amortization, sales, etc., i.e. the "normal" operating business

➡️ Example: Coca-Cola made a large one-off payment for Fairlife in 2025. The adjusted key figure shows how the business is performing without this one-off effect.

➡️ Non-GAAP = "not adjusted in accordance with accounting law, but economically meaningful"

2. the Q1 in figures

📊 ESTIMATES VS. REPORTED

Revenue (reported): $11.1 billion (-2 %)

• Decline due to currency effects & disposal of bottling plants...

EXCURSES:

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 focus 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 turnover is removed from the balance sheet, which can reduce reported turnover, even if the business is doing well.

• Organic sales are therefore adjusted to show how the core business is really developing.

➡️ Declines in sales due to the sale of bottling plants are not a bad sign, but part of a long-term strategy.

Organic sales: +6 %

• Currency & structure-adjusted - shows real growth

Earnings per sharee (EPS, reported): $0,77 (+5 %)

• Net earnings per share, including special effect

Earnings per share (EPS, adjusted): $0,73 (+1 %)

• Shows the adjusted operating earnings per share

Operating profit: +71 %

• Looks hefty, but is due to the special effect from Q1 2024

Operating margin: 32.9 % (previous year: 18.9 %)

• Huge jump due to elimination of fairlife amortization

Adjusted operating margin33.8% (previous year: 32.4%)

• Significantly more stable, that is the really relevant comparison

Sales volume (unit case volume): +2 %

• Important key figure, shows whether people are also drinking more

CALL:

CEO James Quincey describes the current environment as "dynamic, with geopolitical tensions and fluctuating consumer sentiment". Nevertheless, he emphasizes:

"Our first quarter results show that our all-weather strategy is working. We are delivering organic growth and a higher operating margin, despite difficult conditions."

➡️ Coca-Cola presents itself as a robust crisis player with a focus on agility, consumer proximity and local execution.

3. what does "unit case volume" mean and why is it so important?

Coca-Cola measures actual beverage consumption via the unit case volume, i.e. the quantity sold in standardized units.

➡️ Important because it shows whether Coca-Cola is really selling more products, regardless of price.

➡️ This volume increased by +2 %, driven by India, China & Brazil, countries with a growing middle class, increasing demand and great growth potential in out-of-home consumption.

4. price mix: more than just price increases

+5 % price-mix growth means:

• Higher prices in the market
• Better mix (e.g. smaller cans at higher prices, premium products)
• Regional shifts (e.g. more sales in high-price regions)

➡️ This strategy ensures growth even if unit sales stagnate.

5. product insights:

Growth stars:

• Coca-Cola Zero Sugar: +14 %, clear megatrend!
• Water, tea: +2-3 %

Weaker:

• Coffee (-2 %), mainly affects Costa Coffee and vending machines
• Sports drinks (-1 %), such as Powerade & BODYARMOR

6. regions at a glance

🌍 Europe, Middle East & Africa (EMEA):

• Sales +3 %, Coca-Cola & Fanta performing strongly
• Price/mix +6 %

❗ Currency impact -9 %, many local currencies (e.g. Turkish lira, African markets) lose against the dollar

➡️ in case you were also wondering why exactly these regions are grouped together? Operational management at Coca-Cola runs via regions with comparable logistical markets, not a geographical coincidence.

🌎 Latin America:

• Organic sales +13 %
• Adjusted operating profit: +18 %

❗ Volume stagnates, but price increases drive sales

➡️ Strong pricing strategy necessary due to high inflation in countries such as Argentina and Colombia; the company is compensating for this skillfully.

Why Mexico is weakening:

"In Mexico, we are seeing subdued consumer sentiment, partly due to geopolitical tensions."

➡️ Coca-Cola is responding with a campaign to boost confidence ("Hecho en México") and favorable value packs, particularly important in a price-sensitive market.

🌎 North America:

• Sales volume -3 %, mainly affects classic cola & water
• Price/mix +8 %, customers buy smaller, more expensive products or premium variants
• Operating profit +170 % (reported), but only +4 % adjusted

➡️ The big jump comes from the elimination of negative special effects from Q1 2024, e.g. impairments

➡️ Decline in sales is a warning sign, but not (yet) dramatic, offset by pricing strategy

this is what Coca-Cola itself says:

"While we increased sales and profits, we are dissatisfied with the volume trend."

"Hispanic consumers in particular were less willing to buy towards the end of the quarter."

➡️ Coca-Cola is taking the weak sales seriously and, according to the CEO, has already reacted: more focus on faster decisions and targeted investments to boost volumes again.

🌏 Asia-Pacific:

• Volume +6%, strong growth in China, India
• Operating profit -5 % (reported), adjusted +7 %

➡️ Currency impact & higher marketing costs depress earnings, but top in operational terms!

7 Fairlife: A strong brand building block with an expensive finish

Fairlife is Coca-Cola's fast-growing dairy brand (lactose-free milk, protein shakes such as Core Power).

➡️ It was already clear in my last post on Q4: great potential, strong volumes.

➡️ The last purchase price payment of $6.1 bn was made in March 2025.

Effect: Free cash flow fell to -$5.5 bn, without this payment it would have been +558 m.

ConclusionA strong strategic move that hurts in the short term but makes sense in the long term.

CALL:

"fairlife continues to deliver strong performance. We expect a slowdown in growth until additional capacity comes online."

➡️ The high purchase price of $6.1 billion has had a short-term negative impact on cash flow, but Coca-Cola clearly sees the brand as a growth driver.

Despite the write-down in 2024, the momentum remains intact in 2025. You could say a milk brand as an investment case.

8. currency risks and why they are particularly important for Coca-Cola

Coca-Cola generates over 80% of its sales outside the USA.

➡️ When the dollar is strong, foreign revenues are worth less when translated

➡️ Particularly problematic in emerging countries with weak currencies: Turkey, Argentina, parts of Africa

9. outlook 2025: what does Coca-Cola expect?

• Organic sales growth: 5-6%
• Adjusted EPS target: $2.94-$2.97
• Currency impact on EPS: 5-6%
• Free cash flow target (adjusted): $9.5 bn

Further:

Is the currency turnaround in sight? Trump & the dollar in focus

In Q1 2025, a strong US dollar weighed on Coca-Cola's international business, particularly in Latin America, Africa and Asia, where local currencies depreciated massively against the dollar.

But now (end of April 2025) the wind is changing:

• The dollar is losing strength, partly due to political uncertainty surrounding Donald Trump's possible economic policy measures.
• Trump has repeatedly expressed his desire for a "weaker dollar" in order to promote US exports, keyword: Mar-a-Lago Accord 2.0.

What does this mean for Coca-Cola?

➡️ If the dollar trend continues, currency disadvantages could turn into advantages in the second half of the year, which would give an additional boost to reported sales and profits.

Tensions from Trump policy & tariffs, but CFO warns too cautious

"The current global trade dynamics may have an impact on our cost structure and consumer sentiment."

"We are monitoring developments closely, but are relatively flexible thanks to our local business model."

➡️ Coca-Cola is aware of the risks, but believes in its local production structure as a buffer against trade barriers.

10 Conclusion:

Coca-Cola delivers operationally: sales are growing, volumes are rising slightly and brands such as Coke Zero are booming.

• Global strength, especially in Asia & emerging markets
• Strong pricing power, even with stagnating volumes
• Currency risks and one-off special expenses (fairlife) distort the figures
• Demand is falling in North America, something to watch!

My opinion, not investment advice:

Coca-Cola remains solid for dividend investors. Those looking for short-term growth should wait for better entry opportunities. I will hold my position and plan to make further entries next year.

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Thanks for reading! 🤝

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SOURCES:

[1] Report: https://investors.coca-colacompany.com/news-events/press-releases/detail/1131/coca-cola-reports-first-quarter-2025-results

[2] Call: https://events.q4inc.com/attendee/694146189

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$KO (+1,08 %)
$PEP (+0,03 %)

Coca-Cola ($KO (+1,08 %) ) slightly exceeded expectations in the first quarter of 2025 with earnings per share (EPS) of USD 0.73 (forecast: USD 0.72), but fell just short of the forecast of USD 11.2 billion with revenue of USD 11.1 billion. Despite these mixed figures, the share remained stable in trading with a slight increase of

0,15 %.

Important key data

• EPSUSD 0.73 (USD +0.01 above forecast)
• TurnoverUSD 11.1 billion (USD -100 million below forecast)
• Organic sales growth: +6 %
• Price-mix growth: +5 %
• Free cash flowUSD 560 million (excl. Fairlife payment)

Corporate development

Coca-Cola achieved a solid performance, driven by volume growth of 2 % and particularly strong results in the Asia-Pacific region (e.g. India, China). North America remained slightly under pressure due to weaker consumer sentiment.

Margin development

• Comparable gross margin: +30 basis points
• Comparable operating margin: +130 basis points

Outlook 2025

The company confirmed its targets for the year:

• Organic sales growth: 5-6 %
• EPS growth (currency neutral): 7-9 %
• Expected EPS growth contribution after currency effects: 2-3 %

Risks

• Significant currency headwinds (2-3 points on sales, 5-6 on EPS)
• Weak consumer sentiment in North America
• Potential impact of global trade dynamics and market saturation in core markets