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25 May 2023

Announcing CO-RO Group 2022 Annual Report

2022 marked CO-RO’s 80th anniversary. Throughout the year, our great employees and partners celebrated our long and proud heritage of refreshing and delighting consumers around the globe.

Operationally, our business momentum continued throughout the year. We executed our “Balanced Growth” strategy, delivered solid sales growth, and strengthened our organization and market positions.

2022 in summary:

  • Double digit revenue growth (+12,3%) driven by good performance in our core Middle East and Africa region and growth in Asia.
  • Record sales of our biggest brand, Sunquick, and market share growth of Suntop in the Middle East markets.
  • Best ever results on employee satisfaction, innovation sales and efficiency savings.
  • Step-up on our ESG agenda, including mapping of global CO2 emissions.
  • Positive, but lower Ebit margin (down by 1.6%pp) due to increase in input costs, higher investments in innovation and in our new business in Egypt.
  • Significant loss on financial items due to negative return on securities and currency devaluation in several markets.

For more information, view our full Annual Report here:

2022 Annual Report