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  COCA-COLA EUROPACIFIC PARTNERS PLC company press release from 25/10/2020

  25/10/2020 - 22:30

CCEP: Q3 Trading Update and Interim Dividend Declaration


LONDON, 25 October 2020

COCA-COLA EUROPEAN PARTNERS

Trading Update for the Third-Quarter ended 25 September 2020 & FY20 Dividend Declaration

Resilient and agile performance despite challenging backdrop however outlook remains uncertain

                CHANGE VS 2019
    REVENUE   VOLUME
(UNIT CASES1)
  REVENUE PER UNIT CASE2   COMPARABLE VOLUME3   REVENUE PER UNIT CASE2   FX-NEUTRAL REVENUE3   REVENUE
Q3 2020    €3,179m   665m    €4.80   (4.0)%   1.0%   (3.0)%   (3.0)%
YTD 2020    €8,016m   1,705m    €4.73   (10.0)%4   (1.0)%   (11.5)%   (12.0)%

DAMIAN GAMMELL, CHIEF EXECUTIVE OFFICER, SAID:

“Today, we are very excited to announce a non-binding proposal to acquire Coca-Cola Amatil Limited (CCL), one of the largest bottlers and distributors of ready to drink beverages and coffee in the Asia Pacific region. This is a unique and tremendous opportunity to combine two of the world's best bottlers, creating a broader and more balanced geographic footprint, including one of the most attractive and populous emerging markets, doubling our consumer reach to 600 million. This larger platform would enable us to scale up even faster than before and solidify our position as the largest Coca-Cola bottler by revenue, further strengthening our strategic partnership with The Coca-Cola Company. This, combined with today's dividend announcement, reflects our confidence in the future and our ultimate goal of driving increased shareholder value.

“We're also providing an update on our third-quarter performance. We continue to demonstrate the resilience of our business and our ability to operate with agility in such a rapidly changing environment. I am proud of how our colleagues have continued to support our customers, consumers and communities. Our performance over the summer months was encouraging. Volumes significantly improved compared to the second-quarter of the year, mirroring outlet re-openings in the away from home channel, solid demand in the home channel, where we continued to take share, as well as favourable weather across most markets. While the reintroduction of restrictions and local lockdowns has resulted in continued uncertainty about the duration and impact of the pandemic, we continue to believe that the second quarter will be the most impacted.

“In the meantime, the meaningful actions that we talked to earlier in the year continue to protect our performance and we remain confident that we will emerge from this crisis as a stronger business. We continue to adapt to changes in consumer behaviour by focusing on the core brands that our consumers love, leveraging and advancing our digital capabilities, and concentrating even more on the home channel, particularly in the run up to the key Christmas trading period.”

  1. A unit case equals approximately 5.678 litres or 24 8-ounce servings
  2. Fx-neutral
  3. Refer to “Note Regarding the Presentation of Alternative Performance Measures” for further details
  4. Adjusted for selling day shift. Reported volume (10.5)%

For the full announcement please click on the below link:

http://www.rns-pdf.londonstockexchange.com/rns/1275D_1-2020-10-25.pdf


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  Original Source: COCA-COLA EUROPACIFIC PARTNERS PLC