LONDON, 10 August 2017 - Coca-Cola European Partners plc (CCEP) (ticker symbol: CCE) today announces its interim results for the six months ended 30 June 2017 and increases full-year 2017 outlook.
- First-half diluted earnings per share were €0.91 on a reported basis or €0.98 on a comparable basis, including a negative currency translation impact of €0.03.
- First-half reported revenue totalled €5.4 billion, up 3.0 percent on a comparable basis, or up 5.0 percent on a comparable and fx-neutral basis. Volume grew 3.0 percent on a comparable basis.
- First-half reported operating profit was €635 million; comparable operating profit was €688 million, up 14.0 percent on a comparable basis, or up 17.0 percent on a comparable and fx-neutral basis.
- Second-quarter diluted earnings per share were €0.61 on a reported basis or €0.67 on a comparable basis, including a negative currency translation impact of €0.02.
- CCEP increases full-year guidance for 2017 including comparable and fx-neutral diluted earnings per share growth in a 10 percent to 12 percent range when compared to 2016 comparable results; at recent rates, currency translation would reduce diluted earnings per share by approximately 2 percent.
- CCEP remains on track to achieve pre-tax savings of €315 million to €340 million through synergies by mid-2019.
- CCEP declares quarterly dividend of €0.21 per share.
“We delivered a strong second quarter as we continue to make solid progress in building our new company and realising our planned synergies,” said Damian Gammell, Chief Executive Officer. “These results reflect the successful execution of our sales and marketing plans, as well as favourable weather throughout the quarter.
“Importantly, our results also continue to support the strategic rationale for creating CCEP,” Mr. Gammell said. “Looking forward, we remain focused on our long-term business growth through expanding our portfolio, creating value with our customers, and improving in-market execution, all to generate strong cash flow and drive long-term value for our shareholders.”