Coca-cola Europacific Partners Plc · NASDAQ:CCEP
Coca-cola Europacific Partners — H1 2022 Earnings Presentation
19 slides from Coca-cola Europacific Partners's earnings presentation, Aug 4, 2022
Slide 1: Results for the Six Months Ended 1 July 2022
Results for the Six Months Ended 1 July 2022* 4 August 2022 *Unaudited
Slide 2: Forward looking statements
Forward looking statements This document contains statements, estimates or projections that constitute “forward-looking statements” concerning the financial condition, performance, results, strategy and objectives of Coca-Cola Europacific Partners plc and its subsidiaries (together CCEP or the Group
Slide 3: H1: Key messages
H1: Key messages Strong first-half performance, Great alignment with TCCC1 raising full-year guidance & other brand partners Confident in future; Mindful of uncertain outlook investing for long-term growth but well placed within robust categories 1. The Coca-Cola Company 3
Slide 4: Well placed within robust categories
Well placed within robust categories Great brands & continued innovation Robust NARTD category, growing ~5%1 #1 customer value creator within Strong & supportive customer relationships FMCG in Europe2 & NARTD in API2 Channel diversification an advantage Broad price pack architecture 1. NielsenIQ Glo
Slide 5: Our Purpose: REFRESH Europe & API
OUR PURPOSE REFRESH Europe & API GREAT GREAT GREAT DONE SUSTAINABLY, FOR A BETTER PEOPLE SERVICE BEVERAGES SHARED FUTURE 5
Slide 6: Great People
GREAT PEOPLE Prioritised the wellbeing & safety of our colleagues Achieved strong engagement score in first global digital survey Celebrated Pride & launched #FreeandEqual initiative Recognised as best in class for use of digital technologies in the workplace 6
Slide 7: Great Service
GREAT SERVICE Supported our customers throughout the recovery of HoReCa1 Invested in our supply chain & maintained high customer service levels Delivered fantastic Easter & biggest ever Ramadan activation Accelerated our B2B digital platforms & CCEP Ventures 1. HoReCa: Hotels, Restaurants, Cafes 7
Slide 8: Great Beverages
GREAT BEVERAGES CCZS1: New taste, new look, new campaign in Europe, Australia & NZ Fanta: Launched new flavours & campaigns Monster: Continued to gain share through innovation RTD Tea/Coffee & Alcohol: Invested in new revenue streams 1. CCZS: Coca-Cola Zero Sugar 8
Slide 9: Done sustainably, for a better shared future
Net zero DONE SUSTAINABLY, by 2040 & 30% GHG reduction by 20301 FOR A BETTER SHARED FUTURE 100% Making sustainability a competitive advantage collection of packaging by 20251 FY21: 78%1 Investing to become the leader in sustainable package-less solutions 100% recyclable Lightweighting our PET bottle
Slide 10: H1: Performance highlights
H1: Performance highlights Winning Growing value share2 Recovery of AFH #1 customer value creator NARTD within FMCG in Europe1 & • In-store +30bps (Sparkling +90bps) Volume3 +13.0% NARTD in API1 • Online +30bps Revenue/UC4 +4.5% Supporting our customers Flavours +180bps throughout the recovery of Re
Slide 11: API: Great deal at the right time
API: Great deal at the right time API volume, revenue & operating profit ahead of 2019 Pricing & promotional spend optimisation in Australia underway & landing well Delivering combination benefits slightly ahead of schedule Portfolio reorientation largely complete1,2; developing value creating plans
Slide 12: H1: Financial summary
H1: Financial summary Operating Earnings Free Dividend Revenue COGS/UC profit per share5 cash flow6 per share € €8.3bn1 up €1.1bn1 €1.611 €1.3bn €0.56 up 38.0%2 4.5%3 up 50.0%3 up 45.5%3 Comparable Pro forma up 17.0%4 up 5.5%4 up 29.0%4 up 32.0% 1. Comparable (non-GAAP performance measures - refer t
Slide 13: H1 & Q2: Pro forma revenue
H1 & Q2: Pro forma revenue Recovery of AFH & resilient demand in Home H1 Volume H1 Revenue/UC Recovery of Favourable AFH (+28.5%; flat vs 2019) underlying price & & resilient demand in promotional optimisation, Home (+4.5%; +7.5% vs 2019) alongside positive driving volume channel & pack mix ahead of
Slide 14: Continued focus on efficiency
Continued focus on efficiency PRE-ANNOUNCED SAVINGS OPEX AS % OF REVENUE FY22 VS FY19 BELOW FY19 Europe Accelerate €200-225m No return to Competitiveness pre-pandemic cost base API • Inflationary pressures Fighting Fit €90m ~28% PF FY 2019 e.g., labour & haulage ~26% CCEP Combination €60-80m ~25% •
Slide 15: FY22: Guidance
FY22: Guidance Reflects assessment of current market conditions Revenue: pro forma comparable growth of 11-13%1 (updated) Cost of sales per unit case: pro forma comparable growth of ~7.5%1 (updated) Operating profit: pro forma comparable growth of 9-11%1 (updated) Comparable effective tax rate: ~22-
Slide 16: FY22: Cost of sales per unit case guidance
FY22: Cost of sales per unit case guidance FY22 COST OF SALES PER UNIT CASE GUIDANCE FY23 WEIGHTED TOWARDS H2 • Continued inflationary High pressures e.g. labour, gas & power single digit ~7.5%2 • ~55% hedged for FY23 ~5.5%1 • Expect high single digit commodity inflation PF H1 2022 (Actual) PF H2 20
Slide 17: H1: Key messages
H1: Key messages Strong first-half performance, Great alignment with TCCC1 raising full-year guidance & other brand partners Confident in future; Mindful of uncertain outlook investing for long-term growth but well placed within robust categories 1. The Coca-Cola Company 17
Slide 18: Thank you
Thank you Questions & Answers
Slide 19: IR contacts
IR contacts Sarah Willett Upcoming events Vice President Sarah.Willett@ccep.com 2-3 November 2022: Q3 Trading update & investor event Claire Michael Further information Director Claire.Michael@ccep.com Website: here Factsheet: here Claire Copps Associate Director Claire.Copps@ccep.com 19
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