UXBRIDGE, ENGLAND / ACCESSWIRE / August 7, 2024 / COCA-COLA EUROPACIFIC PARTNERS
Solid first half, reaffirming FY24 guidance
| Change vs H1 2023 | Change vs H1 2023 | ||||||||||||||||||||||||||||||||
H1 2024 Total CCEP Key Financial Metrics[1] | As Reported | Comparable[1] | As Reported | Comparable[1] | Comparable FXN[1] | Adjusted Comparable[4] | Adjusted Comparable[4] | Adjusted Comparable FXN[4] | |||||||||||||||||||||||||
Volume (M UC)[2] | 1,856 | 1,856 | 13.8 | % | 13.8 | % | 1,957 | 0.6 | % | ||||||||||||||||||||||||
Revenue per UC[2] (€) | 5.32 | (3.3 | ) % | 5.19 | 2.9 | % | |||||||||||||||||||||||||||
Revenue (€M) | 9,828 | 9,828 | 9.5 | % | 9.5 | % | 10.0 | % | 10,096 | 2.9 | % | 3.5 | % | ||||||||||||||||||||
Operating profit (€M) | 1,142 | 1,296 | (2.4 | ) % | 11.2 | % | 11.6 | % | 1,306 | 8.7 | % | 9.0 | % | ||||||||||||||||||||
Diluted EPS (€) | 1.73 | 1.97 | (6.9 | ) % | 6.7 | % | 7.0 | % | |||||||||||||||||||||||||
Comparable free cash flow (€M) | 539 | ||||||||||||||||||||||||||||||||
Interim dividend per share (€) | 0.74 | ||||||||||||||||||||||||||||||||
DAMIAN GAMMELL, CHIEF EXECUTIVE OFFICER, SAID:
"We are really pleased to have delivered a solid first half performance reflecting great brands and great execution. I would like to thank our great people, alongside our customers and brand partners. We delivered solid top and bottom-line growth, and impressive free cash flow. The great performance of APS, led by the Philippines, offset softer volumes in Europe driven by adverse weather. This demonstrates how our geographic diversification makes us a stronger and more robust business. We continue to grow share ahead of the market and to create value for our customers. Our focus on revenue growth management, headline price and promotion strategy across a broad pack offering also drove solid gains in revenue per unit case.
"Looking ahead, we are well placed operating in categories that remain resilient. We continue to invest for growth and have strong commercial plans in place for the rest of this year and beyond to engage customers and consumers. We remain focused on driving profitable revenue growth, actively managing our pricing and promotional spend to remain affordable and relevant to our consumers, alongside our focus on productivity and free cash flow. In that context, we reaffirm our full year guidance for 2024.
"We are confident that we have the right strategy, done sustainably, to deliver on our mid-term growth objectives. Combined with our first half interim dividend, this demonstrates the strength of our business, and our ability to deliver continued shareholder value."
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Note: All footnotes included alongside the 'About CCEP' section
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SOURCE: Coca-Cola Europacific Partners plc
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