Coca-Cola, the Atlanta-based drinks group which sponsored the 1928 Olympics in Amsterdam and has supported every Games since, has this week reported an 11 per cent decline in both operating income and net operating revenues for 2020.

Moreover, it seems pandemic-related impacts are still taking a toll.

As the company explained on Wednesday: "Global unit case volume trends remain closely linked to consumer mobility and the health of away-from-home channels.

"While volume trends have broadly remained resilient amidst the continuing uncertainty surrounding the coronavirus pandemic, the company experienced incremental pressure in December and into the early part of this year due to a resurgence of the coronavirus in many parts of the world.

"Through early February 2021, the company has experienced a volume decline of mid single digits globally, with continued elevated levels of sales in at-home channels being more than offset by pressure in away-from-home channels."

All told, the group generated operating income of $9 billion (£6.5 billion/€7.5 billion) in 2020, down from $10.1 billion (£7.3 billion/€8.3 billion) a year earlier.

Net operating revenues stood at $33 billion (£24 billion/€27 billion), down from $37.3 billion (£26.9 billion/€30.6 billion) in 2019.

James Quincey, chairman and chief executive, praised the company’s workforce, saying employees had "worked tirelessly to learn and adapt amidst a global crisis".

He went on: "While near-term uncertainty remains, we are well-positioned to emerge stronger from the crisis."

Coca-Cola’s latest deal with the International Olympic Committee (IOC) will see it share ownership of the worldwide beverage category of The Olympic Partner programme with China Mengniu Dairy Company, a Chinese dairy producer.

The agreement extended Coca-Cola’s support for the IOC by a further 12 years until 2032.

The group is also a top-tier sponsor of FIFA, football’s global governing body.