The Real Thing, as it was once branded by advertisers, continues to win over consumers in Greece, as the country emerges as one of the world’s top holiday destinations.

Coca Cola Tria Epsilon, a subsidiary of the Coca Cola Hellenic Bottling Company (HBC), one of The Coca-Cola Company’s top global anchor bottlers, reported net profits just shy of 44 million euros for 2023, up 65% from 2022. Total revenues for the Greek subsidiary increased by 16.7% reaching 669.4 million euros, up from 573.5 million euros in 2022.

Coca Cola Tria Epsilon has reported a low single-digit increase in sales for the first quarter of 2024, mainly due to higher “out-of-home” revenue. The second quarter is expected to maintain the momentum on the back of expectations of higher tourism revenue.

The boost in sales last year also generated a 60% year-on-year hike in shareholder dividends, which rose to 39.4 million euros in total.

Traditionally active in the soft drinks, juices and bottled water markets, Coca Cola Tria Epsilon also entered the domestic beer market last year, signing an exclusive and long-term agreement with AB InBev (Corona, Stella Artois and Bud) to distribute its products in Greece.