Coca-Cola expects sales growth as vaccines set to allow venues to reopen

He, however, added near-term recovery would still be impacted by the presence of the virus in most markets across the world.

The company expects 2021 adjusted earnings to grow in the high-single digits to low-double digits and organic revenue to rise in the high-single digits.

Meanwhile, Coca-Cola also warned it expects a potential liability of about $12 billion in a dispute with the US Internal Revenue Service on how much it charged foreign affiliates for the rights to make and sell Coke products abroad.

The company said the US tax court ‘misinterpreted and misapplied’ the regulations in its conclusions in November and would ‘appeal and vigorously defend’ its position. Coca-Cola recorded a tax reserve of $438 million last year.