Coca-Cola Europacific Partners 2023 Q1 Trading Update

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Investors, Results |

We have had an encouraging start to the year, delivering solid top-line growth as consumers continued to enjoy our portfolio of leading brands across a broad pack offering. Our performance reflects great in-market execution with further growth in the home channel and the tail end of continued recovery of the away from home channel. This resulted in strong volume growth across our developed markets and albeit early in its transformation journey, Indonesia delivered volume growth in the core sparkling category. Our focus on revenue growth management and our headline price and promotion strategy also drove solid gains in revenue per unit case.

Although our first quarter has set us up really well for the rest of the year, it is typically our smallest. We are building on this momentum supported by fantastic activation plans. We remain focused on driving profitable revenue growth and solid free cash flow, and I am pleased to confidently reaffirm our full-year guidance for 2023, despite a dynamic outlook. We are confident that we have the right strategy, done sustainably, to deliver on our ambitious mid-term growth objectives which combined with today’s interim dividend declaration, demonstrate the strength and resilience of our business, and our ability to deliver continued shareholder value. All underpinned by our talented and engaged people as well as our strong relationships with The Coca-Cola Company, our other brand partners, and our customers, who continue to share in our success.

Damian Gammell

CEO, Coca-Cola Europacific Partners

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