Bottler Coca-Cola Europacific Partners (CCEP) has seen a 'solid' FY 2024 with robust top-and bottom-line growth, CEO Damian Gammell said.
The company's reported revenue for the full year grew in double digits (+11.7%) on a reported basis, while reported operating profit declined 8.8% due to higher business transformation costs and non-cash impairment of the Indonesian business unit.
On an adjusted comparable basis, operating profit increased by 8.0%, driven by top-line growth, delivery of efficiency programmes and optimisation of discretionary spending.
Gammell commented, “We’ve grown share ahead of the market, created value for our customers, delivered underlying volume growth and gains in revenue per unit case through revenue and margin growth management.
“Actively managing pricing and promotions across our broad pack offering ensures we are relevant to all consumers while driving profitable revenue growth.”
Annual Highlights
CCEP continued to deliver more revenue growth for its retail customers in key markets compared to its FMCG peers.
Adjusted comparable revenue per unit case grew by 2.7%, reflecting positive headline pricing, promotional optimisation and favourable brand mix, partly offset by geographic mix.
In Europe, the beverage giant generated revenue worth €14.9 billion, registering growth of 2.9% year on year on a reported basis.
Share Buyback And Outlook
CCEP has announced a €1-billion share buyback programme over the next 12 months.
The company has forecast revenue growth of approximately 4% and operating profit growth of around 7%.
Gammell stated, “We are well placed for 2025 and beyond in categories that are growing, with strong investment and commercial plans in place to drive growth.
“We are confident that we have the right strategy, done sustainably to deliver on our mid-term growth objectives.”
