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How did Coca-Cola European Partners perform in the first half of 2019? - results

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  • Half-year sales up 7% to GBP5.8bn (US$7.06bn)
  • Volumes in six months to 28 June up 2%

Coca-Cola European Partners has reaffirmed full-year guidance as it looks to ramp up activity around new innovations during the second half of the year. 

CCEP head Damian Gammell said the company wants to ramp up the launch of innovations including Coca-Cola Energy

CCEP head Damian Gammell said the company wants to ramp up the launch of innovations including Coca-Cola Energy

The company said today that sales in the six months to 28 June were up 7% on the same period last year. Looking to the full year, CCEP expects revenue growth in the low single-digit range.

Company CEO Damian Gammell said the second half of the year will include "scaling up" momentum on recent innovations, including Coke Energy and Costa RTD. 

Looking at the company's reporting regions, Great Britain saw sales rise 11%. Volumes growth in the reporting region was supported by light colas, Fanta, Schweppes and Monster, partially offset by unfavourable Q2 weather.

In France, sales rose 10.5%. Volumes growth was driven by Coca-Cola Zero Sugar, Fanta, Fuze Tea, Monster, Tropico and "resolution of last year's customer dispute". 

Germany reported a 5.5% lift in sales, with volumes growth led by the discounter channel and "solid growth" in Cola-Cola Zero Sugar, Sprite and Monster, partially offset by unfavourable Q2 weather.

Iberia - which includes Spain, Portugal and Andorra - saw sales rise 6% as volumes improved compared to last year, when performance was hampered by bad weather. Volumes growth was led by Coca-Cola Classic, Coca-Cola Zero Sugar, Fanta, Monster and Aquarius.

Northern Europe was up 2% in sales terms. Performance in the region, which includes Belgium, Luxembourg, Netherlands, Norway, Sweden and Iceland, was driven by sales growth in Belgium & Luxembourg (+2.5%), Netherlands (+5%) and Norway (+4.5%). Volumes increases were driven by Coca-Cola Zero Sugar, Monster & Fuze Tea, offset by unfavourable Q2 weather.

Turning to CCEP's categories, trademark Coca-Cola saw volumes rise 3%, while flavours, mixers and energy enjoyed a 4% boost. In the stills segment, RTD teas, RTD coffees and juices saw a 4.5% volumes lift, however hydration dropped 1%. The company said the downturn was a reflection of "reduced low value promotions and unfavourable Q2 weather in Northern Europe and Germany". 

CEO Damian Gammell

"We have delivered a good first-half performance, reflecting our continued focus on driving profitable revenue growth through price and mix realisation and solid in market execution, alongside the successful closure of our merger commitments. We remain focused on building this momentum, albeit following a strong third quarter last year, including scaling up on some of our exciting innovations like Coke Energy and the recently launched Costa ready-to-drink coffee in Great Britain. We are today reaffirming our full-year guidance for 2019."

To read the official results statement, click here.


Sectors: Soft drinks, Water

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