US: Coca-Cola Enterprises sees FY profits dip as still volumes fall
- 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
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.
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