Q3 2020 Trading Update and FY Dividend

Damian Gammell, Chief Executive Officer, said:

"Today, we are very excited to announce a non-binding proposal to acquire Coca-Cola Amatil Limited (CCL), one of the largest bottlers and distributors of ready to drink beverages and coffee in the Asia Pacific region. This is a unique and tremendous opportunity to combine two of the world's best bottlers, creating a broader and more balanced geographic footprint, including one of the most attractive and populous emerging markets, doubling our consumer reach to 600 million. This larger platform would enable us to scale up even faster than before and solidify our position as the largest Coca-Cola bottler by revenue, further strengthening our strategic partnership with The Coca-Cola Company. This, combined with today's dividend announcement, reflects our confidence in the future and our ultimate goal of driving increased shareholder value.

Read more on our proposal to acquire Coca-Cola Amatil Limited here

"We're also providing an update on our third-quarter performance. We continue to demonstrate the resilience of our business and our ability to operate with agility in such a rapidly changing environment. I am proud of how our colleagues have continued to support our customers, consumers and communities. Our performance over the summer months was encouraging. Volumes significantly improved compared to the second-quarter of the year, mirroring outlet reopenings in the away from home channel, solid demand in the home channel, where we continued to take share, as well as favourable weather across most markets. While the reintroduction of restrictions and local lockdowns has resulted in continued uncertainty about the duration and impact of the pandemic, we continue to believe that the second quarter will be the most impacted.

"In the meantime, the meaningful actions that we talked to earlier in the year continue to protect our performance and we remain confident that we will emerge from this crisis as a stronger business. We continue to adapt to changes in consumer behaviour by focusing on the core brands that our consumers love, leveraging and advancing our digital capabilities, and concentrating even more on the home channel, particularly in the run up to the key Christmas trading period."