Coca-Cola Enterprises will announce its third-quarter results on Thursday (29 October). Here, just-drinks looks at the soft drinks company's activities in the three months to the end of September:
- At the end of July, Coca-Cola Enterprises reported a disappointing set of results for the first half of 2015, as it cycled a tough comparative a year earlier. In a conference call following the results, the company said Europe had not seen the same dip in diet drinks interest as the US.
- Also at the end of July, news of the impending merger began to surface and Coca-Cola Enterprises declined to comment on reports linking it to a union with the Coca-Cola bottling divisions in Germany and Spain, Portugal and Andorra.
- By the beginning of August, the deal had been confirmed and the formation of Western European bottling powerhouse Coca-Cola European Partners was agreed. It is expected to close in the second quarter of next year.
- In a presentation to investors following the announcement, CCEP said there were top-line synergies, including a "shared vision" between the Coca-Cola Co and CCEP to drive growth.
Coca-Cola Enterprises H1 highlights:
- Half-year net profits fall by 13.1% to US$272m
- Sales in six months to end of June also down, by 15.3% to $3.56bn
- H1 operating profits slip by 9.6% to $433m
- Q2 net profits decrease by 11.1% to $176m
- Sales in three months to end of June fall by 17.4% to $1.93bn
- Quarterly operating profits dip by 6.8% to $275m
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