Coca-Cola Europacific Partners Q3 Revenues Rise; Backs FY24 Profit View, Cuts Revenue Outlook

(RTTNews) - Coca-Cola Europacific Partners plc (CCEP) reported Tuesday that its third-quarter revenues climbed 11.5 percent to 5.36 billion euros from last year's 4.81 billion euros.

On an adjusted comparable basis, revenues grew 2.4 percent.

Europe revenues grew 2.1 percent from last year to 4.04 billion euros, while APS revenues climbed 54.9 percent to 1.32 billion euros.

The company's total volume was 1.01 billion, a growth of 19.1 percent on a comparable basis, on the strength of APS, despite a 1.4 percent drop in Europe.

In the quarter, the company's adjusted comparable volume was flat, while uderlying volume grew around 1 percent.

Further, Coca-Cola Europacific announced second half interim dividend per share of 1.23 euros, to be paid in December 2024. This results in full-year dividend per share of 1.97 euros, up 7.1 percent from last year.

Looking ahead, the company reaffirmed fiscal 2024 profit and cash guidance. Operating profit is expected to grow around 7 percent on a comparable basis.

Meanwhile, the company now expects comparable growth in revenue of about 3.5 percent, lower than previously expected growth of around 4 percent.

Damian Gammell, Chief Executive Officer, said, "We are well placed for 2025 and beyond. We continue to invest for the long-term and are confident that we have the right strategy, done sustainably, to deliver on our mid-term growth objectives."