The Socio-Economic Impact Study by Steward Redqueen showed that in 2017 The Coca‑Cola System supported 134 million Euro value added in the Baltics. The largest share of 55 Euros million was created in Lithuania where 1697 jobs were supported, most of them in trade sector.
The results of the Study were presented during the Coca‑Cola Stakeholder Forum in Vilnius.
The General Manager of Coca‑Cola HBC in Baltics Konstantin Choukchoukov said, that Lithuania is the biggest market and the most complex Country, considering Coca‑Cola HBC Baltic’ territories. “Here we produce the natural mineral water Neptunas, which has won the hearts of Lithuanian consumers and is now winning the hearts of our consumers in Latvia and Estonia. This is not a surprise – the pure nature, high quality standards and professional people in the plant are the key. We are proud to contribute to Lithuanians wellbeing and hope to do so also in the upcoming years”, added Choukchoukov.
55 million Euros value as taxes, salaries and profits added by Coca‑Cola System production and distribution activities in Lithuania last year is equal to 0.14% on Lithuania’s GDP. 20 million out of the 55 million Euros are tax payments, equal to 0.17% of the total national tax revenues. The Coca‑Cola System supported 1697 jobs in Lithuania last year, which is 0.12% of total employment, and every job at the Coca‑Cola System supported 12 additional jobs in economy. Consumers spent a total of 76 million Euros on Coca‑Cola products in Lithuania, and of every Euro spent 71% stays in the local economy.
Out of 76 million Euros that consumers spent, 13.3 million were government taxes (VAT), 27.7 million were margins for outlets which drives trade impact. 35.5 million Euros were Coca‑Cola HBC local sales revenues plus 15.8 million Euros Coca‑Cola System expenditures to local market through 800 local Lithuanian suppliers.
Most jobs supported by the Coca‑Cola System are 1205 employees working for trade partners and trade partners’ suppliers. 132 people work directly for Coca‑Cola in Lithuania and 360 jobs are supported among local Lithuanian suppliers and suppliers’ suppliers.
The study that provides insights into the value added and employment impact of the Coca‑Cola System in Estonia, Latvia and Lithuania in 2017 was conducted by Steward Redqueen, a Netherlands company advising organizations on impact and sustainability. The study quantifies the Coca‑Cola System’s impact along its value chain including suppliers of key ingredients and services and suppliers’ suppliers, The Coca‑Cola System and trade partners with suppliers of trade. The purpose of the study was to assess how the Coca‑Cola System’s business impact the economy and vice versa.