Coca-Cola European Partners Sees Revenue Rise By 4.0% To €11.5 Billion
The world's largest Coca-Cola bottler, Coca-Cola European Partners, has announced a revenue increase of 4.0% to €11.5 billion, with comparable operating profit rising by 7.0% to €1.6 billion.
The group said that its Coca-Cola Zero Sugar brand was one of the key drivers of its performance in the past year, with volumes up 11.0% in 2018, while Fanta, Schweppes and the group's energy brands all 'performed well'.
Elsewhere, its Fuze Tea brand is now the number two RTD tea brand across the group's markets, some 12 months from its launch, the company said.
“After our first two years as Coca-Cola European Partners, we continue to build a company based on three pillars: great beverages, great service and great people," said Damian Gammell, the company's chief executive.
"Our 2018 results demonstrate this momentum, reflecting our ongoing focus on driving profitable revenue growth through strong price and mix realisation and solid in market execution."
London Stock Exchange
Coca-Cola European Partners also announced that it is planning to seek admission to trade on the London Stock Exchange, a move that will be confirmed in mid-March.
This will 'make it easier for European investors to trade in CCEP shares', the company said.
Looking ahead, Gammell added that the company will "continue to expand our total beverage portfolio while investing in core capabilities that will drive sustainable success, underpinned by our sustainability action plan ‘This is Forward’. We are already leading the way on carbon and water and making good progress on packaging, but we know we need to do more.”
Another major Coca-Cola bottler, Coca-Cola HBC AG also announced its results today, with the business posting a 9.6% rise in full-year comparable core profit.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.