2007

DEAR FELLOW SHAREOWNER: 

The year 2007 was a defining one in the great story of The Coca-Cola Company. 

Our journey to becoming a sustainable growth company reached a new milestone, led by the revitalization of Trademark Coca-Cola; exciting acquisitions and joint ventures; innovative marketing initiatives; and new partnerships that advanced our global corporate citizenship. 

The tireless efforts of our people and the great commitment of our bottling partners have rekindled the energy and optimism that have become synonymous with Coca-Cola. Indeed, across our entire portfolio and all our markets, we experienced a systemwide renaissance and commitment to balanced growth. 

Nowhere was this energy more tangible than in the nearly 550 billion beverage servings that our consumers reached for and were refreshed by this past year. 

The honor our consumers gave us by inviting us into their lives did not happen by chance. It was the sum of many things done well across the Coca-Cola system (the Company and our bottling partners). 

At the heart of our progress is the recognition that delivering sustainable growth requires making every aspect of our business sustainable, from our supply chain and operating model to the citizenship and leadership we exhibit in the communities we serve. 

A STRONG YEAR 

The following pages tell the story of a company delivering consistent performance that is well-balanced across markets, categories, customers and products—a company that is moving forward with a clear strategic agenda. 

In 2007, The Coca-Cola Company earned $2.57 per share, an increase of 19 percent. Unit case volume grew 6 percent. And net operating revenues grew 20 percent to $28.9 billion. 

We took several key steps in 2007, including 

strengthening our sparkling portfolio with new brands and brand extensions; 

expanding our still portfolio with strategic acquisitions and innovations; 

improving our capabilities in consumer marketing, commercial leadership and franchise leadership; 

creating a more sustainable future through more efficient energy, water and operational practices. 



REkiNDLiNG GROWTH iN SpARkLiNG bEvERAGES 

We continued to deliver unit case volume growth across our sparkling beverages, led by Trademark Coca-Cola. Our “three-cola strategy” focuses on driving unit case volume growth for Coca-Cola, Coca-Cola Zero and Diet Coke or Coca-Cola light. In 2007, we rolled out Coca-Cola Zero in 37 countries, and it became one of our Company’s billion-dollar brands. 

Sprite and Fanta achieved global unit case volume growth of 8 percent and 5 percent, respectively, due to strong marketing execution and focus on immediate-consumption growth. 

Sparkling beverages were the catalyst for double-digit unit case volume growth in important emerging markets, such as Brazil, China, Eastern Europe, India, Pakistan, Russia, Southern Eurasia and Turkey. In 2007, we also saw a return to solid performance in Japan, where Trademark Coca-Cola grew at its highest rate in 30 years. 

EXpANDiNG OUR STiLL pORTFOLiO 

Having a strong, sustainable business also depends on an expanding portfolio of still beverages that brings our offerings to new