Coca-Cola Enterprises posts flat FY sales, net profits
- FY net profits flat at US$663m
- Net sales in 12 months to end of December hold steady at $8.3bn
- Operating profits (reported) up 11.5% to $1bn
- FY volumes flat, but Q4 volumes see slight rise
- For in-depth coverage of the results, click here
Coca-Cola Enterprises reported flat full-year net profits and sales
Coca-Cola Enterprises has reported flat full-year net profits and sales, with “macroeconomic headwinds” being blamed.
The US-based group, which is Coca-Cola's anchor bottler in Western Europe, said net profits in the 12 months to the end of December came in at US$663m. Sales were also flat at $8.3bn, while operating profits on a reported basis climbed 11.5% to $1bn.
Q4 net sales fell 5.5% on a reported basis, but volumes grew 2%, which CCE partly attributed to “introductory volume” for Coca-Cola Life. Group full-year volumes were flat.
“Throughout 2014, persistent macroeconomic and marketplace headwinds continued to affect our business and our top-line growth,” said chairman & CEO John Brock.
Looking ahead, Brock added: “As we go forward into 2015, we will continue to adapt to these operating conditions, with a solid emphasis on innovation in every aspect of our business. We will remain flexible in our approach and continue to manage each element of our business to deliver on our most important objective, creating value for our shareowners.
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To read the company's full statement, click here.
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