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Further together

Welcome to our 2022Integrated Report

Financial and Sustainability Performance Indicators

  • €17.3bn

    Revenue on a pro forma comparable and FX neutral basis

     

    +15.5% (2021: €14.8bn)

  • €1.8bn

    Adjusted free cash flow*



    +20.0% (2021: €1.5bn)

  • €2.1bn

    Operating profit on a comparable basis*

     

    +12.5% (2021: €1.9bn)

  • 0.87

    Total incident rate (TIR) per 100 full time equivalent employees

     

    Target: Reduce our TIR to below 1 by 2025

  • 9.4%

    Percentage greenhouse gas (GHG) emissions reduction across our entire value chain versus 2019

     

    Target: Reduce emissions across our entire value chain by 30% by 2030 (versus 2019)

  • 48.5%

    Percentage of PET used in our packaging that is rPET

     

    Target: 50% recycled plastic in our PET bottles by 2023 (Europe) and 2025 (API)

*Comparative pro forma figures for 2021 as if the acquisition of Coca-Cola Amatil Limited occurred at 1 January 2021 presented for illustrative purposes only. Refer to Business and Financial Review for a reconciliation of our IFRS reported results to the pro forma financial information and non-GAAP performance measures.
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Furthertogether

Our Chairman and CEO in conversation

“We delivered great results in our first full year as Coca-Cola Europacific Partners, creating value for customers and shareholders as well as making great progress against our sustainability commitments.”

Sol Daurella Chairman

Damian Gammell CEO

Our strategy

Great people

We want CCEP to be a great place to work, with a strong and inspiring workplace culture.

Great service

We want to win with our customers and maintain high customer service levels.

Great beverages

We are extremely privileged to make, move and sell the best beverages in the world.

Done sustainably

This is Forward, our sustainability action plan, sits at the heart of our long-term business strategy.

Our business model - how we do what we do

From developing close relationships with The Coca-Cola Company (TCCC) and other franchisors and sourcing raw materials, to making and distributing great tasting drinks, our great people deliver great service, great beverages, done sustainably.

We partner

We operate under bottler agreements with TCCC and other franchisors, and purchase the concentrates, beverage bases and syrups to make, sell and distribute packaged beverages to our customers and vending partners.

Associated risks

  • 2 Legal, regulatory and tax
  • 8 Perceived health impact of beverages and customer buying trends
  • 9 Business transformation and integration
  • 11 Relationships with TCCC and other franchisors
We partner

Associated risks

  • 2 Legal, regulatory and tax
  • 8 Perceived health impact of beverages and customer buying trends
  • 9 Business transformation and integration
  • 11 Relationships with TCCC and other franchisors

This is Forward sustainability pillar

  • drinks
We source

We use ingredients such as water, sugar, coffee, juices and syrup to make our drinks. We also rely on materials like glass, aluminium, PET, pulp and paper to produce packaging.

Associated risks

  • 1 Packaging
  • 3 Business disruption
  • 4 Cyber, social engineering and IT
  • 7 Climate change and water
  • 12 Product quality
We source

Associated risks

  • 1 Packaging
  • 3 Business disruption
  • 4 Cyber, social engineering and IT
  • 7 Climate change and water
  • 12 Product quality

This is Forward sustainability pillars

  • packaging
  • water
  • climate
  • supply chain
We make

Our production facilities make and bottle our wide range of drinks. Over 90% of the drinks we sell are produced in the country in which they are consumed.


Associated risks

  • 3 Business disruption
  • 4 Cyber, social engineering and IT
  • 7 Climate change and water
  • 9 Business transformation and integration
  • 10 People and wellbeing
  • 12 Product quality
We make

Associated risks

  • 3 Business disruption
  • 4 Cyber, social engineering and IT
  • 7 Climate change and water
  • 9 Business transformation and integration
  • 10 People and wellbeing
  • 12 Product quality

This is Forward sustainability pillars

  • drinks
  • climate
We recycle

Although 99% of our bottles and cans (in Europe) are recyclable, they don't always end up being recycled. That needs to change. We’re determined to lead the way towards a circular economy in which our packaging is recycled and reused.

Associated risks

  • 1 Packaging
  • 2 Legal, regulatory and tax
  • 7 Climate change and water
We recycle

Associated risks

  • 1 Packaging
  • 2 Legal, regulatory and tax
  • 7 Climate change and water

This is Forward sustainability pillars

  • drinks
  • packaging
  • supply chain
  • society
We sell

Our commercial team works with a huge range of customers, ranging from small local shops, supermarkets and wholesalers to restaurants, bars and sports stadiums. We also provide cold drink equipment and vending machines.

Associated risks

  • 2 Legal, regulatory and tax
  • 3 Business disruption
  • 4 Cyber, social engineering and IT
  • 5 Economic and political conditions
  • 6 Market
  • 8 Perceived health impact of beverages and customer buying trends
  • 10 People and wellbeing
We sell

Associated risks

  • 2 Legal, regulatory and tax
  • 3 Business disruption
  • 4 Cyber, social engineering and IT
  • 5 Economic and political conditions
  • 6 Market
  • 8 Perceived health impact of beverages and customer buying trends
  • 10 People and wellbeing

This is Forward sustainability pillars

  • drinks
  • packaging
  • climate
We distribute

We distribute our products to customers and vending partners directly, by working closely with logistics partners.



Associated risks

  • 1 Packaging
  • 3 Business disruption
  • 6 Market
  • 10 People and wellbeing
We distribute

Associated risks

  • 1 Packaging
  • 3 Business disruption
  • 6 Market
  • 10 People and wellbeing

This is Forward sustainability pillars

  • climate
  • supply chain

Our stakeholders

Our stakeholders are part of our business and play a vital role in our success. From the suppliers that provide our raw materials, to the communities where we operate and the people who make and sell our products, we seek to work together to make a difference.

Our people

Why are they important to CCEP?

CCEP depends on the great people who create value by making, selling and distributing our products to customers every day.

Our people's key concerns

  • Being rewarded.
  • Development opportunities.
  • Safety at work.

People engagement highlights

  • Launch of global CCEP ESPP with 38% take up rate.
  • CCEP Australia won awards at the Australian HR Awards and at the Mental Health Service Awards of Australia and New Zealand for its Healthy@CCEP programme.
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Case study: Our people

Treating everyone with dignity and respect

In 2022, we launched the first global Gender Affirmation and Transitioning Guidance to make sure we had the systems in place to support colleagues who identify as Trans and/or non-binary and provide an inclusive and supportive working environment in the office, in the field, in production facilities and while working from home.

The guidance was a global collaboration led by the Inclusion, Diversity and Equity (ID&E) Centre of Expertise in partnership with the ‘Pride
Community’, our global LGBTQ+ network. It was reviewed and verified by external LGBTQ+ experts, Stonewall.

Our shareholders

Why are they important to CCEP?

Shareholders provide the equity capital for our business and hold management to account on financial performance and key environmental, social and governance (ESG) issues.

Our shareholders' key concerns

  • Financial performance, commodity costs and inflationary pressures.
  • Market dynamics such as consumer behaviour and supply chain challenges.
  • ESG challenges and regulatory changes.

Shareholder engagement highlights

  • Capital markets event attended by approximately 150 analysts, investors and potential investors.
  • Reverting to two interim dividends for 2022, maintaining our dividend payout ratio of ~50% which resulted in record full year dividend per share.

Our franchisors

Why are they important to CCEP?

We conduct business primarily under agreements with franchisors who generally give us exclusive rights to make, sell and distribute beverages in approved packaging in specified territories.

Our franchisors' key concerns

  • Profitable growth and value share in our markets.
  • Sustainable supply chains.

Franchisor engagement highlights

  • The Coca-Cola Company Indonesia presented to the Board on marketing plans.
  • Costa demonstrated packageless solutions to the Board.
  • The Coca-Cola Company and other franchisors presented portfolio priorities and product launches at commercial, sales and country meetings.

Our consumers

Why are they important to CCEP?

Consumers create value for CCEP when buying and drinking the products we make, sell and distribute.

Our consumers' key concerns

  • Product quality and food safety.
  • Environmental concerns relating to packaging.

Consumer engagement highlights

  • In store activations, e.g. at Ramadan in Indonesia, Fanta at Halloween, Monster in Great Britain (GB), Coca-Cola for FIFA World Cup
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Case study: Our consumers
Making our packs more inclusive

In 2022, our large Christmas can multipacks included NaviLens codes on the cardboard outers to help partially sighted shoppers and those who have difficulty using traditional signage the opportunity to navigate their way around a shop to find their chosen purchases.

Our customers

Why are they important to CCEP?

Our customers create value for CCEP by selling our products to consumers.

Our customers' key concerns

  • New packaging solutions.
  • Product offers to meet new shopper and consumer trends.

Customer engagement highlights

  • Dedicated customer showroom opened in France during September to present our marketing and commercial plans as well as our sustainability ambition and progress.
  • Customer newsletters on sustainability, brand performance and innovation.

Our suppliers

Why are they important to CCEP?

Our suppliers provide a wide range of commodities and services
from ingredients, packaging, utilities, equipment, to facilities management, fleet, logistics and information technology.

Our suppliers' key concerns

  • Exposure to variability in the market place such as pricing and consumer behaviours.
  • Driving progress on sustainable supply chains.

Supplier engagement highlights

  • Annual supplier day.
  • Developing new tethered closures with suppliers to make recycling more efficient as there is no cap left behind.

Our communities

Why are they important to CCEP?

Communities are where we operate and where our employees live and work. They create value for CCEP through access to talented people, local water sources, connection with local policy makers and community groups.

Key concerns in our communities

  • Unemployment.
  • Environmental impact.

Community engagement highlights

  • Donated €250k and >36k unit cases of product to Red Cross in Ukraine and organised an employee donation campaign and support scheme for employees housing Ukrainian refugees.
  • CCEP's Support my Cause expanded to API, with first donation in CCEP Indonesia to Nurani Dunia Foundation which runs community growth programmes.