Coca-Cola Europacific Partners 2023 Q3 Trading Update

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Investors, Results |

"2023 continues to be a strong year for CCEP reflecting great brands, solid in-market execution and strong customer relationships. Our focus on revenue and margin growth management, along with our price and promotion strategy, drove solid gains in revenue per unit case. Transactions outpaced volume and we grew both share and household penetration across our markets. Given our strong year to date performance, we are reaffirming our full year guidance and declaring a full year dividend up almost 10% on last year. This demonstrates the strength of our business and ability to continue to deliver shareholder value.

“In the third quarter, we also delivered top line growth despite mixed summer weather across Europe and the ongoing execution of our long-term transformation strategy in Indonesia. We delivered fantastic activation, including during the Women's World Cup, supporting strong underlying volume growth in Australia and New Zealand.

“Looking to next year and beyond, we remain confident in the resilience of our categories, despite ongoing macroeconomic and geopolitical volatility. We continue to actively manage our pricing and promotional spend to remain affordable and relevant to our consumers, alongside our focus on productivity and free cash flow. All supported by our talented and engaged colleagues, and our strong relationships with our brand partners and customers. Finally, we have been working closely with The Coca-Cola Company and Aboitiz on the proposed acquisition of Coca-Cola Beverages Philippines, aligned with our aim of driving sustainable and stronger growth through diversification and scale. We remain on track to close early next year and look forward to sharing more in due course.”

Damian Gammell

CEO, Coca-Cola Europacific Partners

To read our full results, click here.