COCA-COLA EUROPEAN PARTNERS PLC FILES INTEGRATED REPORT AND FORM 20-F
LONDON, 14 March 2019 – Coca-Cola European Partners plc (“CCEP”) (ticker symbol CCEP) announces that on 14 March 2019 it filed its 2018 Integrated Report and Form 20-F with the Securities and Exchange Commission. This document was filed in accordance with Section 203.01 of the New York Stock Exchange Listed Company Manual and includes CCEP's audited results for the year ended 31 December 2018. The unaudited fourth-quarter and full year results for the period ended 31 December 2018 were previously released on 14 February 2019.
At the same time, the 2018 Integrated Report and Form 20-F was made available on CCEP's website at http://ir.ccep.com/financial-reports/coca-cola-european-partners-annual-reports and also online at www.sec.gov.
A copy of the 2018 Integrated Report and Form 20-F will be available shortly at www.morningstar.co.uk/uk/NSM. Printed copies of the Annual Report will be posted to those shareholders who have requested it on or around 17 April 2019.
Pursuant to Disclosure Guidance and Transparency Rule 6.3.5R, a summary of the principal risks and uncertainties, information regarding related party transactions and a responsibility statement are set out in the Appendices. Page references included in this announcement refer to page numbers in the 2018 Integrated Report and Form 20-F. References to notes to the financial statements refer to notes in the 2018 Integrated Report and Form 20-F. This announcement should be read with, and is not a substitute for reading, the full 2018 Integrated Report and Form 20-F.
In addition, following the announcement on 14 February 2019 of CCEP's intention to transfer its existing admission to trading on the market of Euronext London to the Main Market of the London Stock Exchange (the “Transfer”), CCEP will today publish a summary document in connection with the proposed Transfer. We expect the summary document to be available later today on CCEP's website at this location: http://ir.ccep.com/investor-services/investor-kit.
It is expected that CCEP's ordinary shares (the “Shares”) will be admitted to trading on the Main Market of the London Stock Exchange on 28 March 2019 and that delisting of the Shares from Euronext London will occur from 29 March 2019. There will therefore be one day of overlap during which the Shares will be admitted to trading on both London Stock Exchange and Euronext London to ensure continuous admission to the Official List of the United Kingdom Listing Authority (“UKLA”).
Please note that this does not change the Company's category of listing, which will remain a standard listing under Chapter 14 of the UKLA's Listing Rules, and does not impact the listing of the Shares on the New York Stock Exchange (“NYSE”), Euronext Amsterdam or the Spanish stock exchanges. Following admission, investors will continue to be able to trade the Shares on all markets under the symbol CCEP, with the Shares being quoted and traded in Euro on the London Stock Exchange, Euronext Amsterdam and the continuous market of the Spanish stock exchanges (Madrid, Barcelona, Bilbao and Valencia), and in USD on the NYSE.
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Coca-Cola European Partners plc is a leading consumer goods company in Western Europe, selling, making and distributing an extensive range of nonalcoholic ready-to-drink beverages and is the world's largest independent Coca-Cola bottler based on revenue. Coca-Cola European Partners serves a consumer population of over 300 million across Western Europe, including Andorra, Belgium, continental France, Germany, Great Britain, Iceland, Luxembourg, Monaco, the Netherlands, Norway, Portugal, Spain and Sweden. The Company is listed on Euronext Amsterdam, the New York Stock Exchange, Euronext London and on the Spanish stock exchanges, trading under the symbol CCEP. For more information about CCEP, please visit our website at www.ccep.com and follow CCEP on Twitter at @CocaColaEP.
APPENDIX A – PRINCIPAL RISKS AND UNCERTAINTIES
Our approach to risk
Our decisions are informed by an understanding of the risks we face as a business. Through our enterprise wide risk management programme, we identify, measure and manage risk, as well as embed a strong risk culture across our business.
Our principal risks are those that have been identified as most impactful to our business by our enterprise risk assessment. CCEP defines these as risks that could materially and adversely affect our business, or could cause our actual results to differ materially from those given in the forward-looking statements within this report and other public statements we make.
The Directors have carried out a robust assessment of these principal risks.
The following is a summary of the Group's Principal Risks that are included in the 2018 Integrated Report and Form 20-F, however, this summary is not intended to include all risks that could ultimately impact our business and is presented in no particular order:
- Changing consumer preferences and the health impact of soft drinks
- Legal and regulatory intervention
- Packaging and plastic
- Competitiveness and transformation
- Cyber and social engineering attacks
- Economic and political conditions
- Relationship with The Coca-Cola Company and other franchisors
- Product quality
Our principal risks and uncertainties did not change materially in 2018. For further details about our principal risks and uncertainties please refer to pages 40 to 43 of the 2018 Integrated Report and Form 20-F.
APPENDIX B – RELATED PARTY TRANSACTIONS
Details regarding related party transactions can be found in Note 17 of the Notes to the Consolidated Financial Statements on pages 135 to 136 of the 2018 Integrated Report and Form 20-F.
APPENDIX C – DIRECTORS' RESPONSIBILITIES STATEMENT
(page 91 of the 2018 Integrated Report and Form 20-F)
Responsibility for preparing financial statements
The Directors are responsible for preparing the Integrated Report and the financial statements in accordance with applicable law and regulations.
UK company law requires the Directors to prepare financial statements for each financial year. Under that law the Directors are required to prepare group financial statements in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union and Article 4 of the IAS Regulations. They have elected to prepare the parent company financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom accounting standards and applicable law) including FRS 101 “Reduced Disclosure Framework”. In preparing the consolidated Group financial statements the Directors have also elected to comply with IFRS as issued by the International Accounting Standards Board (IASB).
Under section 393 of the Companies Act, the Directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.
In preparing the Company financial statements, the Directors are required to:
- Select suitable accounting policies and apply them consistently
- Make judgements and accounting estimates that are reasonable and prudent
- Follow applicable UK Accounting Standards (except where any departures from this requirement are explained in the notes to the parent company financial statements)
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business
In preparing the Group financial statements in accordance with IAS (UK & Ireland) 1, “Presentation of Financial Statements”, the Directors are required to:
- Select suitable accounting policies and apply them consistently
- Present information, including accounting policies, in a manner that provides relevant, reliable, comparable and understandable information
- Provide additional disclosures when compliance with the specific requirements in IFRS are insufficient to enable users to understand the impact of particular transactions, other events and conditions on the entity's financial performance
- Make an assessment of the Group's ability to continue as a going concern
The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act. They are responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
They are also responsible for the maintenance and integrity of the corporate and financial information included on the Company's website.
Legislation, regulation and practice in the UK governing the preparation and dissemination of financial statements may differ from legislation, regulation and practice in other jurisdictions.
The Directors, whose names and functions are set out on pages 50 to 54, confirm that to the best of their knowledge:
- The financial statements, prepared in accordance with the relevant financial reporting framework, give a true and fair view of the assets, liabilities, financial position and profit or loss of the Company and the undertakings included in the consolidation taken as a whole
- The management report includes a fair review of the development and performance of the business and the position of the Company and the undertakings included in the consolidation taken as a whole, together with a description of the principal risks and uncertainties they face
- The Integrated Report and financial statements, taken as a whole, are fair, balanced and understandable and provide the information necessary for shareholders to assess the Company's position and performance, business model and strategy