Q1 2024 Coca-Cola Europacific Partners PLC Earnings Call Transcript
Key Points
- Coca-Cola Europacific Partners PLC (CCEP) achieved solid top and bottom-line growth and strong free cash flow in the first half of the year.
- The APS business unit performed exceptionally well, offsetting softer volumes in Europe.
- The company reaffirmed its full-year guidance, aligning with midterm objectives.
- CCEP continues to invest in growth, with strong commercial plans in place for the rest of the year and beyond.
- The integration of the Philippines business was completed seamlessly, contributing to double-digit volume growth.
- European volumes were softer due to strategic delistings and adverse weather conditions.
- The company faced a higher interest charge and a higher effective tax rate, impacting earnings per share.
- Adverse weather in Europe, particularly in June, negatively impacted both home and away-from-home channels.
- The geopolitical situation in Indonesia led to mixed demand, affecting overall performance in the region.
- The company had to make strategic exits from certain product lines, such as Capri Sun in Europe and bulk water across multiple markets, impacting volumes.
Thank you all for joining us today. I'm here with Damian Gammell, our CEO; and Ed Walker, our CFO. Before we begin with our opening remarks, reminder of our cautionary statements. This call will contain forward-looking management comments and other statements reflecting our outlook.
These comments should be considered in conjunction with the cautionary language contained in today's release as well as the detailed cautionary statements found in reports filed with the UK, US Dutch and Spanish authorities.
A copy of this information is available on our website at www.cocacolaep.com. Prepared remarks made by Damian and Ed, we will then turn the call over to your questions. Unless otherwise stated, metrics presented today will be on a comparable and FX-neutral basis throughout.
They will also be presented on an adjusted comparable basis, thus reflecting the results of CCP and our Australia/Pacific and
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
