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Coca-Cola Europacific Partners increases revenues by 6% as of September, up to 13,784 million, and raises dividend

MADRID, 1 Nov.

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Coca-Cola Europacific Partners increases revenues by 6% as of September, up to 13,784 million, and raises dividend


Coca-Cola Europacific Partners achieved revenues of 13,784 million euros during the first nine months of this year, which represents an increase of 6% compared to the same period in 2022, as reported by the company, which has announced an interim dividend of 1.17 euros to be distributed in December.

Specifically, the firm achieved revenues of 4,807 million euros during the third quarter of this year, which represents an increase of 1.5% compared to the same period a year earlier.

Coca-Cola Europacific Partners CEO Damian Gammell said that 2023 continues "to be a good year" for the company, "reflective of excellent market execution and strong customer relationships."

"Our focus on managing revenue and margin growth, along with our pricing and promotions strategy, has generated significant increases in unit case revenue. Transactions exceeded volume, allowing us to increase both share and household penetration in all of our markets," he said.

Thus, with this behavior until September, the group confirmed its annual forecasts and announced an annual dividend almost 10% higher than last year -1.84 euros per share-. "This demonstrates the strength of our business and the ability to continue offering value to our shareholders," added the manager.

Between January and September, the company earned 2,570 million euros in Iberia (Spain, Portugal and Andorra), 10% more, while in the third quarter it had a turnover of 1,029 million, 6% more.

The firm noted that the decrease in volume in the third quarter reflects the comparison with a previous year of solid growth, as well as the strategic decision to eliminate high-volume water containers in Spain from the portfolio.

In addition, the out-of-home channel (AFH) benefited from a strong tourist season with numbers above pre-pandemic levels. Revenue growth per case/unit (UC) was boosted thanks to the pricing management implemented in the first quarter, and a favorable product mix.

The good results in the region of Coca-Cola Zero Sugar, Sprite and Monster stood out, while Royal Bliss achieved double-digit growth (43%), supported by the launch in Portugal.

On the other hand, the company indicated that there is a proposed joint acquisition of Coca-Cola Beverages Philippines with Aboitiz Equity Ventures, an operation that will strengthen its position in Asia.

"We remain on track to close this transaction early next year. We look forward to sharing more information in due course," the firm's CEO said.

Looking ahead to next year and beyond, Gammell said the company remains confident in the resilience of its categories, "despite continued macroeconomic and geopolitical volatility."

"We continue to actively manage our pricing and promotional spend to remain affordable and attractive to our consumers, along with our focus on productivity and free cash flow. All backed by the talent and commitment of our colleagues, and our strong relationships with our customers. brand partners and customers," he added.