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Coca-Cola European Partners toasts sales rise in maiden full year - FY 2017 results

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  • Full-year sales up 3% to EUR11.1bn (US$13.9bn)
  • Reported sales for 2017 jump 21% 
  • Q4 sales rise 4% to EUR2.66bn

Coca-Cola European Partners has ended its first full year with a lift in sales.  

Coca-Cola European Partners was formed in May 2016

Coca-Cola European Partners was formed in May 2016

The company said today that sales in the 12 months to the end of December 2017 rose 3% on a comparable, FX-neutral basis. Top line growth was boosted by a 4% rise in the fourth quarter, which followed a flat Q3, owing to unfavourable weather conditions

Full-year reported sales jumped 21%. 

The company also said it remains on track to achieve pre-tax savings of EUR315m to EUR340m through synergies by mid-2019. CCEP was created in May 2016, following a combination of Coca-Cola Enterprises with Coca-Cola Iberian Partners and the German division of The Coca-Cola Co

"In our first full year as Coca-Cola European Partners, we have started to realise the growth opportunities created by the merger and, importantly, modestly exceeded our initial guidance for revenue, operating profit, diluted earnings per share, and free cash flow," said CEO Damian Gammell.

On a portfolio basis, CCEP reported a 0.5% slip for Coca-Cola trademark volumes, offsetting a 15% leap for Coca-Cola Zero Sugar. Sparkling volumes inched up 0.5%, while sparkling flavours and energy grew 4%. Stills lifted 1% but water brands dropped 1.5%. 

Looking forward, Gammell said the "journey continues in 2018 as we further expand our portfolio, build on our commercial capabilities and continue to invest in our business to better serve our customers and improve in-market execution". 

"Though we face some headwinds in 2018, we remain confident that our focus on driving profitable growth and managing costs will strengthen our business for the long term."

To read the official statement, click here


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