Coca-Cola European Partners Continues Focus on Driving Profitable Revenue Growth
Coca-Cola European Partners, the world’s largest Coca-Cola bottler based on revenue, has reported a 7% increase in revenue to €5.80 billion for the six months ended 28 June 2019 as comparable volume growth of 3.0% was partly offset by the impact of last year’s soft drinks tax changes. Comparable operating profit at €770 million, rose by10.5% and by 20% on a reported basis, reflecting revenue growth and merger synergies of €55 million during the period.
Coca-Cola European Partners serves a consumer population of over 300 million across Western Europe, including Andorra, Belgium, continental France, Germany, Great Britain, Iceland, Luxembourg, Monaco, the Netherlands, Norway, Portugal, Spain and Sweden.
Damian Gammell, chief executive of Coca-Cola European Partners.
Damian Gammell, chief executive of Coca-Cola European Partners, comments: “We are one of the world’s largest beverage companies with both a solid track record of performance as well as an exciting future, supported by a 24,000 strong team of talented and engaged people. We are fortunate to have the world’s best non-alcoholic ready-to-drink brands where we have a leading position within our dynamic and growing market. We are taking the decisions today to invest in the capabilities that we know we will need to win tomorrow. All underpinned by an aligned relationship with The Coca-Cola Company and a strong sustainability agenda, particularly around packaging, where we are taking action and leading innovation.”
“We have delivered a good first-half performance, reflecting our continued focus on driving profitable revenue growth through price and mix realisation and solid in market execution, alongside the successful closure of our merger commitments. We remain focused on building this momentum, albeit following a strong third quarter last year, including scaling up on some of our exciting innovations like Coke Energy and the recently launched Costa ready-to-drink coffee in Great Britain.”
Coca-Cola European Partners has reaffirmed its full- year guidance for 2019 of revenue growth in the low single-digit range excluding the impact of incremental soft drinks taxes of approximately 1.0%, operating profit growth between 6-7%, capital expenditures of approximately €525-575 million and return on invested capital (ROIC) to improve by approximately 40 basis points.
