Coca-Cola HBC AG (LON:CCH) said group revenue tanked 37% in April as 25 of its 28 markets were in lockdown.
The fizzy drinks bottler continues to operate following safety guidelines and has been cutting costs, halving marketing spend as well as slashing capital expenditure by €100mln.
READ: Coca-Cola HBC still plans to serve dividend, though guidance revoked
At the end of April, the FTSE 100 group had €1.4bn of cash and €800mln and €900mln available in borrowing facilities.
In the three months ended 27 March, group revenue dipped 1%, with established and developing markets down 7% and 3% respectively, while emerging markets advanced 5% as they entered lockdowns later than others.
Shares were flat at 1,932p on Thursday at the opening bell.