Smartkarma AI, Smartkarma

αSK

Smartkarma AI

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Bottom-Up

<ul>
  <li>
<b>Dominant Market Position in High-Growth Geographies:</b> <a href="https://smartkarma.com/entities/coca-cola-icecek-as">Coca-Cola Icecek</a> (CCI) is the exclusive bottler for Coca-Cola products across a diverse and expanding footprint of 12 countries, including Turkey, Pakistan, and nations in Central Asia and the Middle East, serving a population of over 600 million. This strategic positioning in emerging markets with favorable demographics provides a long runway for volume growth.</li>
  <li>
<b>Exceptional Historical Growth with Strong Shareholder Returns:</b> The company has demonstrated a remarkable track record of growth, with 3-year compound annual growth rates (CAGRs) for revenue and net income at 84.5% and 86.8%, respectively. This has translated into robust shareholder returns, evidenced by a 95.3% 3-year market cap CAGR and a 71.0% 3-year dividend CAGR.</li>
  <li>
<b>Exposure to Geopolitical and Macroeconomic Volatility:</b> CCI's operations are concentrated in regions prone to economic instability, currency fluctuations, and geopolitical tensions. These factors represent a significant risk to earnings consistency and can lead to margin pressure and volatility in reported financial results, as seen in recent performance.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  
Dominant Market Position in High-Growth Geographies: Coca-Cola Icecek (CCI) is the exclusive bottler for Coca-Cola products across a diverse and expanding footprint of 12 countries, including Turkey, Pakistan, and nations in Central Asia and the Middle East, serving a population of over 600 million. This strategic positioning in emerging markets with favorable demographics provides a long runway for volume growth.
  
Exceptional Historical Growth with Strong Shareholder Returns: The company has demonstrated a remarkable track record of growth, with 3-year compound annual growth rates (CAGRs) for revenue and net income at 84.5% and 86.8%, respectively. This has translated into robust shareholder returns, evidenced by a 95.3% 3-year market cap CAGR and a 71.0% 3-year dividend CAGR.
  
Exposure to Geopolitical and Macroeconomic Volatility: CCI's operations are concentrated in regions prone to economic instability, currency fluctuations, and geopolitical tensions. These factors represent a significant risk to earnings consistency and can lead to margin pressure and volatility in reported financial results, as seen in recent performance.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Coca-Cola Icecek (CCOLA TI) - Dec 2025

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

iShares MSCI Emerging Markets / Technical Analysis

<ul>
<li>In our prior EM Strategy (October 2) we discussed that as long as EEM-US is above our important line-in-the-sand at $37, we were buyers on the pullback.</li>
<li>This support level held and EEM-US now displays a bullish 3-month downtrend reversal as the DXY appears to be breaking below $105.70, all bullish signals signaling additional upside-- buy.</li>
<li>We are bullish as long as $36.50-$37 support holds on EEM-US. Our first target is $42, which is 1.5+ year resistance. Remain overweight India, and we're upgrading Poland/Greece to overweight</li>
</ul>


In our prior EM Strategy (October 2) we discussed that as long as EEM-US is above our important line-in-the-sand at $37, we were buyers on the pullback.
This support level held and EEM-US now displays a bullish 3-month downtrend reversal as the DXY appears to be breaking below $105.70, all bullish signals signaling additional upside-- buy.
We are bullish as long as $36.50-$37 support holds on EEM-US. Our first target is $42, which is 1.5+ year resistance. Remain overweight India, and we're upgrading Poland/Greece to overweight


MSCI EM Index Reversing 3-Month Downtrend -- Buy. Remain Overweight India, Upgrading Poland & Greece

Oil & Natural Gas Corp / Technical Analysis

<ul>
<li>MSCI EM (EEM-US) continues to show signs of bottoming as it has held above our $37-$37.50 line-in-the-sand. </li>
<li>Major 1+ year resistance on the EEM-US is at $42, and a breakout would mean the bottom is in (and would be a buy signal).</li>
<li>Favor EM over EAFE due to 2.5-year downtrend reversal in the EAFE vs. EM ratio. Top Overweights: Taiwan, India, Greece; Attractive EM Sectors: Energy, Technology, Consumer Discretionary, Financials</li>
</ul>


MSCI EM (EEM-US) continues to show signs of bottoming as it has held above our $37-$37.50 line-in-the-sand. 
Major 1+ year resistance on the EEM-US is at $42, and a breakout would mean the bottom is in (and would be a buy signal).
Favor EM over EAFE due to 2.5-year downtrend reversal in the EAFE vs. EM ratio. Top Overweights: Taiwan, India, Greece; Attractive EM Sectors: Energy, Technology, Consumer Discretionary, Financials


MSCI Emerging Market Index Testing 1+ Year Resistance; Favor EM over EAFE; Top EM Buys Highlighted

<ul>
<li>The DAX and Hang Seng are reversing their downtrends while MSCI China (MCHI-US) and China Internet (KWEB-US) are currently testing their respective multi-month downtrends.</li>
<li>Reversals of these downtrends would signal a bear market rally in progress.</li>
<li>We will need to see more basing, followed by base breakouts, in order to get bullish -- a process that would likely take weeks or months.</li>
</ul>


The DAX and Hang Seng are reversing their downtrends while MSCI China (MCHI-US) and China Internet (KWEB-US) are currently testing their respective multi-month downtrends.
Reversals of these downtrends would signal a bear market rally in progress.
We will need to see more basing, followed by base breakouts, in order to get bullish -- a process that would likely take weeks or months.


Still Bearish, But On Watch for Bear Market Rally; Buying Toshiba 6502-JP, Defensive Sectors

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<div>
<p>Back on the <a href="https://ccaauauesprdrsg057str001.blob.core.windows.net/media/media/ccamatil/ccamatilau/files/asx/2020/201026_ccepindicativeproposalandamatiltradingupdate.pdf" target="_blank" rel="noopener">26 October</a>, Australia's largest non-alcoholic beverage bottler <a href="https://www.smartkarma.com/entities/coca-cola-amatil-ltd" target="_blank" data-smartkarma-citation="entities:675:1" rel="noopener">Coca Cola Amatil (CCL AU)</a> announced an indicative proposal of A$12.75/share from Coca-Cola European Partners plc (CCEP). A firm Offer was <a href="https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02304483-2A1261358?access_token=83ff96335c2d45a094df02a206a39ff4" target="_blank" rel="noopener">announced</a> on the 4 November. Reports immediately <a href="https://www.afr.com/companies/manufacturing/coca-cola-amatil-takeover-delayed-as-investors-call-for-higher-bid-20210125-p56wqp" target="_blank" rel="noopener">surfaced</a> that some major shareholders considered the proposal inadequate. </p>
</div>
<div>
<p>Responding to shareholder pushback, CCEP and CCL <a href="https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02340945-2A1280279?access_token=83ff96335c2d45a094df02a206a39ff4" target="_blank" rel="noopener">entered into</a> a Scheme Implementation Deed at A$13.50/share on the 15 February, a 5.9% bump to the firm Offer on the <a href="https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02304483-2A1261358?access_token=83ff96335c2d45a094df02a206a39ff4" target="_blank" rel="noopener">4 November</a>, and a  25.6% premium to the undisturbed price. The Offer was declared best and final. </p>
<p>Independent CCL shareholders will vote on the proposal at the Scheme Meeting to be held on the 16 April. <a href="https://www.smartkarma.com/entities/coca-cola-co-the" target="_blank" data-smartkarma-citation="entities:979:1" rel="noopener">Coca-Cola Co (KO US)</a> (TCCC) with 30.808% of shares out, will abstain from voting. </p>
</div>
<div>CCEP has now <a href="https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02359882-2A1290488?access_token=83ff96335c2d45a094df02a206a39ff4" target="_blank" rel="noopener">advised</a> CCL that it has elected to purchase all the remaining shares held by TCCC at the implementation of the Scheme, for cash. TCCC will subsequently cease to be a shareholder of CCL.</div>
<div></div>
<div>
<p>As always, more below the fold.</p>
</div>


Back on the 26 October, Australia's largest non-alcoholic beverage bottler Coca Cola Amatil (CCL AU) announced an indicative proposal of A$12.75/share from Coca-Cola European Partners plc (CCEP). A firm Offer was announced on the 4 November. Reports immediately surfaced that some major shareholders considered the proposal inadequate. 


Responding to shareholder pushback, CCEP and CCL entered into a Scheme Implementation Deed at A$13.50/share on the 15 February, a 5.9% bump to the firm Offer on the 4 November, and a  25.6% premium to the undisturbed price. The Offer was declared best and final. 
Independent CCL shareholders will vote on the proposal at the Scheme Meeting to be held on the 16 April. Coca-Cola Co (KO US) (TCCC) with 30.808% of shares out, will abstain from voting. 

CCEP has now advised CCL that it has elected to purchase all the remaining shares held by TCCC at the implementation of the Scheme, for cash. TCCC will subsequently cease to be a shareholder of CCL.


As always, more below the fold.


Turkey

Coca-Cola Icecek AS bottles and distributes carbonated soft drinks and noncarbonated beverages.

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Coca-Cola Icecek (CCOLA TI)

Primer: Coca-Cola Icecek (CCOLA TI) - Dec 2025

Dominant Market Position in High-Growth Geographies: Coca-Cola Icecek (CCI) is the exclusive bottler for Coca-Cola products across a diverse...

αSK

MSCI EM Index Reversing 3-Month Downtrend -- Buy. Remain Overweight India, Upgrading Poland & Greece

In our prior EM Strategy (10/2/23) we discussed that, if $EEM is above $37, we were buyers on the pullback. Support held and now EEM displays a...

Vermilion Research

MSCI Emerging Market Index Testing 1+ Year Resistance; Favor EM over EAFE; Top EM Buys Highlighted

MSCI EM Index $EEM Testing 1+ Year Resistance; Favor EM over EAFE $EFA. Top EM Country Overweights: Taiwan, India, Greece; Attractive EM Sectors:...

Vermilion Research

Still Bearish, But On Watch for Bear Market Rally; Buying Toshiba 6502-JP, Defensive Sectors

The $DAX and Hang Seng are reversing their downtrends while China $MCHI and China Internet $KWEB are currently testing their respective multi-month...

Vermilion Research

Coca Cola Amatil (CCL AU): This Is It

Trading tight at a gross/annualised spread of ~0.5%/4%. Although the franking credits attached to the final dividend will represent additional...

David Blennerhassett

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