Business
Coca-Cola Europacific Partners PLC Announces Results for the Six Months Ended 30 June 2023
Strong first half, raising FY guidanceUXBRIDGE, UK / ACCESSWIRE / August 2, 2023 / H1 2023 Metric[1]As Reported Comparable [1]Change vs H1 2022As
About this update from Coca-cola Europacific Partners Plc
[{"type":"text","content":"Strong first half, raising FY guidanceUXBRIDGE, UK / ACCESSWIRE / August 2, 2023 / H1 2023 Metric[1]As Reported Comparable [1]Change vs H1 2022As ReportedComparable[1]Comparable FXN [1]Total CCEPVolume (M UC)[2]1,631 1,6311.0%1.0% Revenue (€M)8,977 8,9778.5%8.5%10.5%Cost of sales (€M)5,707 5,7018.0%7.5%10.0%Operating expenses (€M)2,153 2,1116.5%9.5%11.5%Operating profit (€M)1,170 1,16521.0%11.0%13.0%Profit after taxes (€M)854 84726.5%14.0%16.5%Diluted EPS (€)1.86 1.8527.5%14.5%17.0%Revenue per UC[2] (€) 5.62 10.0%Cost of sales per UC[2] (€) 3.57 9.0%Free cash flow (€M) 850 H1 Interim dividend per share[3] (€) 0.67 EuropeVolume (M UC)[2]1,307 1,3072.5%2.5% Revenue (€M)7,105 7,10510.0%10.0%12.0%Operating profit (€M)887 92419.5%12.0%14.0%Revenue per UC[2] (€) 5.52 9.0% APIVolume (M UC)[2]324 324(5.5)%(5.5)% Revenue (€M)1,872 1,8722.5%2.5%7.0%Operating profit (€M)283 24125.0%6.5%11.0%Revenue per UC[2] (€) 6.03 13.0%DAMIAN GAMMELL, CHIEF EXECUTIVE OFFICER, SAID:\"Today, we are excited to announce the proposed joint acquisition of Coca-Cola Beverages Philippines, Inc. with Aboitiz Equity Ventures Inc., one of the leading conglomerates in the local market. This offers us a great opportunity to acquire an established, well-run business with attractive profitability and growth prospects. This would be a natural next step for CCEP, creating a more diverse footprint within our existing API business segment, support Indonesia's transformation journey and underpin our strategic mid-term objectives.\"We are also very pleased to have delivered a great first half, achieving strong top and bottom-line growth and generating impressive free cash flow. Our performance reflects great in-market execution, strong customer relationships allowing our consumers to continue to enjoy our portfolio of leading brands across a broad pack offering. This resulted in solid volume growth across our developed markets, whilst our volume in Indonesia reflected the execution of our long-term transformation strategy. Our focus on revenue and margin growth management, along with our price and promotion strategy, drove solid gains in revenue per unit case with transactions outpacing volume.\"Looking ahead, we remain confident in the resilience of our categories, despite the ongoing dynamic outlook. We have fantastic activation plans to build on our momentum, including t...