COCA-COLA'S DIRECT AND INDIRECT CONTRIBUTION TO THE ECONOMY AND SOCIETY OF BOSNIA AND HERZEGOVINA IN 2019 WAS 186 MILLION BAM

VIRTUALLY PRESENTED THE THIRD STUDY ON THE SOCIO-ECONOMIC IMPACT OF COCA-COLA IN BOSNIA AND HERZEGOVINA IN 2019

The total value of the direct and indirect influence of Coca-Cola in the form of wages, taxes and profits in 2019 was 186 million BAM, which is 0.5% of the GDP of Bosnia and Herzegovina. Coca-Cola directly creates 40 million BAM of added value, that is, each convertible brand created by Coca-Cola supports the creation of another 4 BAM of added value in the economy of Bosnia and Herzegovina. In addition, Coca-Cola indirectly supports another 146 million BAM in the economy of Bosnia and Herzegovina.

These are some of the key conclusions of the third Study on the socio-economic impact of Coca-Cola in Bosnia and Herzegovina in 2019, which - for the first time virtually - was presented today in front of representatives of relevant institutions, governmental and non-governmental sectors, Minister of Foreign Trade and Economic Relations Staša Košarac, representatives of the academy, business associations, the community, business partners and the media.

"Coca-Cola in Bosnia and Herzegovina is deeply integrated and connected with the community in which it operates. Through five decades of presence, with a positive impact through our value chain, and decades of involvement in the community in Bosnia and Herzegovina, we show every day that we can and are part of a large international system and an integral part of the local economy. Our successes are the result not only of us, but also of the work of all our customers and suppliers, partners with whom we closely cooperate, as well as the trust of our consumers. We truly believe that our success can only be sustainable if our partners and the society we belong to are also successful," said Ruža Tomić Fontana, general manager of Coca-Cola HBC for Croatia, Bosnia and Herzegovina and Slovenia.

Coca-Cola directly and indirectly supports the creation of 97 million BAM tax revenues of the state, that is, 52% of the total contribution of Coca-Cola's added value in Bosnia and Herzegovina is taxes.

After the presentation of the results of the study that explains Coca-Cola's contribution to the economy of Bosnia and Herzegovina, and the impact of its long-term business in Bosnia and Herzegovina on the progress of society as a whole, a panel discussion was held in which Aida Soko, economic expert and adviser to the Prime Minister of FBiH, Vjekoslav Vuković,  chairman of the Foreign Trade Chamber of BiH, Nihad Imširović, executive director of Konzum B-H and Rajko Lazić, general secretary of the Red Cross Society of BiH, participated. The participants of the panel discussion talked about what Coca-Cola's business brings to the economy of Bosnia and Herzegovina, what it does to its business partners and everyone in Coca-Cola's supply chain, how important it is for society to have companies that are not only there for their own profit, but and profit from the communities in which they operate.

The first such study was prepared and presented to the public by Coca-Cola in 2015, and this is the first time that the results have been published via  virtual conference. Also, this is the first event organized by Coca-Cola since the beginning of the corona virus pandemic.

Key indicators from the Study on the Socio-Economic Impact of Coca-Cola in Bosnia and Herzegovina in 2019 can be found at the link