COCA-COLA EUROPACIFIC PARTNERS PLC FILES INTEGRATED REPORT AND FORM 20-F
LONDON, 15 March 2022 - Coca-Cola Europacific Partners plc ("CCEP") (ticker symbol CCEP) announces that, on 15 March 2022, it filed its 2021 Integrated Report and Form 20-F with the Securities and Exchange Commission. This document was filed in accordance with Rule 5250(d) of the Nasdaq Listing Rules and includes CCEP's audited results for the year ended 31 December 2021. The unaudited fourth-quarter and full year results for the period ended 31 December 2021 were released on 16 February 2022.
The 2021 Integrated Report and Form 20-F is available on CCEP's website at https://ir.cocacolaep.com/financial-reports-and-results/integrated-reports and also online at www.sec.gov.
A copy of the 2021 Integrated Report and Form 20-F will be available shortly at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
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 2021 Integrated Report and Form 20-F. References to notes to the financial statements refer to notes in the 2021 Integrated Report and Form 20-F. This announcement should be read with, and is not a substitute for reading, the full 2021 Integrated Report and Form 20-F.
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Coca-Cola Europacific Partners is one of the world's leading consumer goods companies. We make, move and sell some of the world's most loved brands - serving 600 million consumers and helping 1.75 million customers across 29 countries grow. We combine the strength and scale of a large, multi-national business with an expert, local knowledge of the customers we serve and communities we support. The Company is currently listed on Euronext Amsterdam, the NASDAQ Global Select Market, London Stock Exchange and on the Spanish Stock Exchanges, trading under the symbol CCEP.
For more information about CCEP, please visit www.cocacolaep.com & follow CCEP on Twitter at @CocaColaEP.
APPENDIX A - PRINCIPAL RISKS AND UNCERTAINTIES
Our approach to risk
The Board has overall responsibility for risk management at CCEP. The Board is closely involved in identifying risks and the strategic response to them, and monitoring management actions to achieve its strategic objectives.
To support this, risk management is firmly embedded within our everyday business activities and culture. We identify and assess risk with appropriate risk management strategies, implemented at various levels of our business. CCEP's enterprise risk management framework looks at risks we face and how we can capitalise on opportunities.
Since the creation of CCEP, we have continually matured our risk management capabilities through seamless collaboration across the business. This has resulted in the creation of the One Risk Office (a forum to exchange information between all second and third line of defence teams), which helps us to manage risks and respond rapidly through established processes like incident management, business continuity plans and risk transfer mechanisms.
During the ongoing COVID-19 pandemic, the risk framework has allowed us to respond rapidly to a continuously changing environment. We leverage our learnings to strengthen our risk management framework and better prepare for future challenges.
Measuring and managing risk
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 2021 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:
· Cyber and social engineering attacks and IT infrastructure
· Economic and political conditions
· Legal, regulatory and tax
· Climate change and water
· Perceived health impact of our beverages and ingredients, and changing consumer buying trends
· Competitiveness, business transformation and integration
· People and wellbeing
· Relationships with The Coca-Cola Company and other franchisors
· Product quality
For further details about our principal risks and uncertainties please refer to pages 42 to 47 of the 2021 Integrated Report and Form 20-F.
APPENDIX B - RELATED PARTY TRANSACTIONS
Details regarding related party transactions can be found in Note 20 of the Notes to the Consolidated Financial Statements on pages 164 to 166 of the 2021 Integrated Report and Form 20-F.
APPENDIX C - DIRECTORS' RESPONSIBILITIES STATEMENT
(page 111 of the 2021 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 United Kingdom (UK) law and regulations.
UK company law requires the Directors to prepare financial statements for each financial year. Under that law, the Directors have prepared Group and Parent Company financial statements in accordance with UK-adopted International Accounting Standards. In preparing the consolidated Group financial statements the Directors have also elected to comply with International Financial Reporting Standards (IFRS) as adopted by the European Union and International Financial Reporting Standards as issued by the International Accounting Standards Board (IASB).Under section 393 of the Companies Act, the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the Group and of the profit or loss of the Company and of the Group for that period.
Under section 393 of the Companies Act, the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the Group and of the profit or loss of the Company and of the Group 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 UK-adopted International Accounting Standards, International Financial Reporting Standards as adopted by the European Union and International Financial Reporting Standards as issued by the IASB
· 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 the Directors are required to:
· Select suitable accounting policies and apply them consistently
· State whether UK-adopted International Accounting Standards, International Financial Reporting Standards as adopted by the European Union and International
· Financial Reporting Standards as issued by the IASB have been followed, subject to any material departures disclosed and explained in the financial statements
· 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 67-71, confirm that to the best of their knowledge:
· The consolidated financial statements, prepared in accordance with UK-adopted International Accounting Standards, International Financial Reporting Standards as adopted by the European Union and International Financial Reporting Standards as issued by the IASB, 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
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