Coca-Cola European Partners Reports First Full Year
Coca-Cola European Partners has reported a 21% increase in revenue to €11.1 billion – up 3.0% on a comparable and foreign exchange neutral basis – for the full-year ended 31 December 2017. Volume was up 0.5% on a comparable basis.
Full-year reported operating profit at €1.3 billion was up 9.0% and by 10.5% on a comparable and fx-neutral basis to €1.5 billion. Free cash flow for the year was €1.0 billion. CCEP remains on track to achieve pre-tax savings of €315 million to €340 million through synergies by mid-2019.
“In our first full year as Coca-Cola European Partners, we have started to realise the growth opportunities created by the merger and, importantly, modestly exceeded our initial guidance for revenue, operating profit, diluted earnings per share, and free cash flow,” says Damian Gammell (pictured), chief executive of Coca-Cola European Partners. “Looking ahead, our journey continues in 2018 as we further expand our portfolio, build on our commercial capabilities, and continue to invest in our business to better serve our customers and improve in-market execution.”
He adds: “Though we face some headwinds in 2018, we remain confident that our focus on driving profitable growth and managing costs will strengthen our business for the long term.”
