Coca-Cola Europacific Partners Full Year 2023 Financial Results

FY23 Content Image Desktop


Results |

Preliminary unaudited results for the full year ended 31 December 2023

Solid end to a great year, well placed for FY24 and beyond

2023 was a great year for CCEP. This is testament to the hard work of our colleagues to whom we are extremely grateful, alongside our customers and brand partners. Our focus on leading brands, strong customer relationships and solid in-market execution served us well. We delivered solid top and bottom-line growth and generated impressive free cash flow. We drove solid gains in revenue per unit case through our revenue and margin growth management, along with our price and promotion strategy across a broad pack offering. Across our developed markets, transactions outpaced volume and we grew both share and household penetration. We progressed our long-term transformation strategy in Indonesia, and today, we completed the exciting acquisition, with Aboitiz, of Coca-Cola Beverages Philippines.

We are well placed for FY24 and beyond. We are stronger and better, more diverse and robust, and our categories remain resilient despite ongoing macroeconomic and geopolitical volatility. We have fantastic activation plans, focusing on the Paris Olympics and the UEFA Euros, to engage customers and consumers. And we continue to actively manage our pricing and promotional spend to remain relevant to our consumers, balancing affordability and premiumisation. Along with our focus on productivity, this will all ultimately drive our free cash flow.

We remain confident in the future, continuing to invest for the long-term. A record dividend in FY23 and our recent inclusion into the Nasdaq 100, combined with our FY24 guidance, demonstrate the strength of our business and our ability to deliver continued shareholder value. Supported by strong relationships with our brand partners, we have the platform and momentum, now including the Philippines, to go even further together whilst continuing to be a great partner for our customers and a great place to work for our colleagues.

Damian Gammell

Chief Executive Officer

To read our results in full, click here