The Coca-Cola Company (KO) Morgan Stanley Global Consumer & Retail Conference Call (Transcript)


The Coca-Cola Company (NYSE:KO) Morgan Stanley Global Consumer & Retail Conference Call December 5, 2023 3:00 PM ET

Company Participants

Henrique Braun – President of International Development

Conference Call Participants

Dara Mohsenian – Morgan Stanley

Dara Mohsenian

All right. Good afternoon, everyone. I’m Dara Mohsenian. I’m Morgan Stanley’s Beverage and Household Products analyst. Very pleased to welcome Coca-Cola here to our conference. Just before we get started, I do have to note disclosures. For important disclosures, please see Morgan Stanley’s website at www.morganstanley.com/researchdisclosures. So again, thank you for joining us today.

We have Henrique Braun from Coca-Cola, who’s the President of International Development and previously has been President of Latin America, Brazil, China, Korea. I think I got everything, but obviously, a wealth of experience. So we really appreciate you being here today.

Henrique Braun

Thank you.

Question-and-Answer Session

Q – Dara Mohsenian

Thanks. So it was basically about a year-ago when you were named to the newly created role of President, International Development with oversight across the seven operating units spanning Latin America, Asia Pacific, Africa, Eurasia, Middle East. Can you just give us a brief overview of the OUs and the markets that you oversee, and big picture, how they fit into Coke’s 4% to 6% topline growth algorithm in the 7% to 9% earnings growth algorithm?

Henrique Braun

Thank you, Dara, for having me here today. Good afternoon to everyone. And thank you for the introduction. A little bit about myself being 27 years with the Coca-Cola Company, working in LatAm, Europe, Asia and Latin America. And what really encompasses into this new journey of leading the international development countries that I’m leading, the easiest way for you to picture this is geographically wise, it’s everything that’s not included in North America, in Europe, the rest of the countries all over the world resides into the international development. So a vast



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