Coca Cola 2004 Annual Report Download - page 59

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not historical in nature. All statements that address operating performance, events or developments that we
expect or anticipate will occur in the future—including statements relating to volume growth, share of sales and
earnings per share growth and statements expressing general optimism about future operating results—are
forward-looking statements. Forward-looking statements are subject to certain risks and uncertainties that could
cause actual results to differ materially from our Company’s historical experience and our present expectations
or projections. As and when made, management believes that these forward-looking statements are reasonable.
However, caution should be taken not to place undue reliance on any such forward-looking statements since
such statements speak only as of the date when made. The Company undertakes no obligation to publicly update
or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
The following are some of the factors that could cause our Company’s actual results to differ materially
from the expected results described in or underlying our Company’s forward-looking statements:
• Economic and political conditions, especially in international markets, including civil unrest, product
boycotts, governmental changes and restrictions on the ability to transfer capital across borders. Without
limiting the preceding sentence, the current unstable economic and political conditions and civil unrest in
the Middle East, North Korea, India or elsewhere, the unstable situation in Iraq, or the continuation or
escalation of terrorism could have adverse impacts on our Company’s business results or
financial condition.
• Changes in the nonalcoholic beverages business environment. These include, without limitation, changes
in consumer preferences, including changes based on health and nutrition considerations and obesity
concerns, shifting consumer developments and needs, changes in consumer lifestyles and increased
consumer information; competitive product and pricing pressures; and our ability to gain or maintain
share of sales in the global market as a result of actions by competitors. Factors such as these could
impact our earnings, share of sales and volume growth.
• Foreign currency rate fluctuations, interest rate fluctuations and other capital market conditions. Most of
our exposures to capital and financial markets conditions, including exposures to foreign currency and
interest rates fluctuations, are managed on a consolidated basis, which allows us to net certain exposures
and thus take advantage of any natural offsets. We use derivative financial instruments to reduce our net
exposure to financial risks. There can be no assurance, however, that our financial risk management
program will be successful in reducing the risks inherent in exposures to capital and financial markets.
• Beverage container-related deposit, recycling, eco-tax and/or product stewardship laws and regulations, if
they are adopted and implemented at a large scale in any of the markets in which we operate, on a
cumulative basis may have a materially adverse effect on our results of operations in future periods.
• Significant additional labeling or warning requirements, if they become applicable to one or more of our
major products under current or future environmental or health laws or regulation, may inhibit sales of
such major product or products and may materially harm our business.
• Changes in commercial or market practices and business models within the European Union as a result
of changes to, or evolving interpretations of, European Commission competition laws and regulations, as
well as commitments or undertakings we made or may make in the future in connection with European
Commission inquiries or investigations, may have a material adverse effect on our results of operations
in Europe.
• The uncertainties of litigation and other legal proceedings.
• Adverse weather conditions, which could reduce demand for Company products.
• The effectiveness of our advertising, marketing and promotional programs.
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