WHEN: TODAY, FRIDAY, April 24, 2015
WHERE: CNBC'S "SQUAWK ON THE STREET"
Following are excerpts from the unofficial transcript of a CNBC EXCLUSIVE interview with Coca-Cola Chairman & CEO Muhtar Kent on CNBC's "Squawk on the Street" today. Video from the interview is available on CNBC.com.
All references must be sourced to CNBC.
KENT ON COKE TURNAROUND
This is not about a single quarter. Yes, we were pleased with our results, but it's a work in progress a lot of work to do. Yes, the strategy of what we're trying to do is beginning to bear fruit and we'll just continue relentlessly on executing that strategy of more focus on our revenues, productivity.
KENT ON FUTURE REVENUE
It's not only about volume, it's about value. When you look at 2015-2020 period all the data all the research shows that non-alcoholic beverages Sara are going to be growing by $300 Billion dollars. Consumers are going to spend $300 Billion more to buy non-alcoholic beverages of their choices, of that $100 Billion will come from sparkling beverages. So what we see here is a tremendous growth opportunity in revenue and in value.
KENT ON DIET COKE
Diets are growing in the rest of the world so Coke Zero is growing, Coca Cola Lite is growing which is a derivative of Diet Coke in the rest of the world. Purely in the United States Diet Coke has been under pressure. The rate of decrease is slowing down and I think it's a work in progress.
KENT ON THE CONSUMER
I think the consumer is volatile, is mixed, is confused. We have a new normal with pretty high unemployment around the world despite growth rates coming back in some places and not coming back in others and we have a consumer that really is not as optimistic as he or she used to be 5, 6, 7, 8 years ago.
KENT ON PARTNERSHIPS
Coca-Cola is about power of partnerships. That is the best way to discuss the Coca-Cola system around the world. Power of partnerships with our bottling partners, with all our retail partners, and with great technology partners like Keurig, Green Mountain, or an energy partner like Monster.
KENT ON HOW BEVERAGES WILL ENHANCED IN THREE WAYS
In the next 10 to 15 years Sara beverage brands in the world are going to be built and enhanced in three ways: one is ready to drink continue to be in packages like this, the second is at home through technology like Keurig Green Mountain cold, the pods and the third is technology enhanced occasions again at food service like freestyle.
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