• FY net profits down 1.5% to US$667m
  • Net sales up 2% to $8.21bn
  • Operating profits down 1.5% to $914m
  • Still beverage volumes down 3%, sparkling up 0.5%
CCE sales increased

CCE sales increased

Coca-Cola Enterprises has posted a slight drop in full year net profits as volumes of its still beverage portfolio decreased.

The US-based bottler, which operates mainly in Europe, said earlier today (5 February) that net profits in calendar-2013 were down by 1.5% to US$667m. Net sales increased by 2% to $8.21bn in the same period, while operating profits dropped 1.5% to $914m.

Fourth-quarter results were relatively better, with net profits for the three months to December jumping by 35% to $135m. Net sales came in flat at $2.03bn and operating profits were up 45% to $217m.

CCE's chief executive & chairman, John Brock, said: “Throughout 2013, we continued to make important progress on delivering long-term, profitable growth as we worked through challenging marketplace and macroeconomic conditions.”

For the full year, sparkling drinks volumes inched up by about 0.5%, with growth of 0.5% for Coca-Cola trademark brands. Coca-Cola Zero increased volumes by 15%. The zero-calorie beverage found 20% volumes growth in the fourth quarter. 

Sparkling flavours grew 1% in the full year, including growth of 12% for CCE's energy portfolio. However, still beverages declined by 3% in the year, balanced between declines in water and juices, the company said.

Today's results were an improvement on last year's FYs, when net profits dropped by 9.6%. The company blamed tax increases in France.

For coverage of CCE's post-statement conference call, click here.

To read the company's full results, click here.