Coca-Cola Amatil has provided a market update to the ASX indicating a strong 2020 performance in New Zealand despite suffering a more than 30% drop in revenue over a four week period due to the first COVID-19 lockdown.
As a result, Coca-Cola Amatil New Zealand (Amatil NZ) has confirmed it will pay back the $7.2M wage subsidy in full.
"2020 was an extremely difficult year especially at the beginning of Q2. The wage subsidy came at a critical time and gave us the security to keep our people employed and paid in full," said Chris Litchfield, Managing Director of Amatil NZ.
The once in a generation pandemic created unique challenges to Amatil's staff and customers, with many customers closing during one or both lockdowns.
"We want to thank our customers for their partnership in 2020 and also to our wonderful staff who rolled with the challenges and kept us going.
"Their resilience has been inspirational. They are the reason we’re in a position to pay back the wage subsidy and keep our other commitments in 2020.
In 2020 Amatil NZ:
- closed the year with a strong financial performance, giving it the ability to pay back the $7.2m wage subsidy in full
- kept all employees employed and paid 100% of their wages
- supported their smaller customers such as dairies and takeaways by providing COVID safety screens and other safety related material
- supported the hard-hit hospitality industry through the First Coke On Us campaign
- met their recycled plastic promise to use only 100% recycled plastic in all its plastic bottles under 1 litre and water bottles across all sizes
- received the Kincentric Best Employer Accreditation for five consecutive years, the only New Zealand company to do so.