Coca Cola EP earned €675 million as of June, nearly three times
Coca-Cola Europacific Partners (CCEP) made a profit of 675 million euros through June, nearly triple the number for the same period last year with a growth of 175%, according to results presented Thursday. Despite inflation and the international context, the largest beverage bottling company and its other brands achieved a turnover of €8,280 million in six months, up 40%.
The increase in the cost of inputs is observed in their production chain. Operating costs also rose, jumping 30% to 2,025 million euros. In any case, the operating profit rose to 967 million, which is 86% more.
Consumption outside the home pulls the numbers in Spain
Damien Gammell, CEO, assessed the business’s development as very positive. The key has been the continued recovery of restaurants, bars, cafes and pubs, a return to travel and tourism and a resilient local channel.
By markets, in the Iberia segment, which includes Spain, Portugal and Andorra, revenue increased 28.5% in the first half to €1,371 million. Thanks to a rebound in out-of-home sales in hotels, restaurants and cafeterias. It is something that is noticed above all in Spain.
Growth in the region is the highest among European markets, although the UK surpassed sales by 1,463 million as of June, up 22.5%.
Improves growth outlook despite challenging environment
The company hopes to keep its pulse despite the global context. “We remain confident in the resilience of our lines, despite more uncertain expectations given macroeconomic conditions, geopolitical volatility and rising inflation,” Gammell said.
The company has already improved revenue and operating profit forecasts for the year. Bills will initially grow 11%-13%, from the previous 8%-10%, while earnings will grow by 9%-11%, from the previous 6%-9%. “It shows the strength of our work,” the manager said. Unit costs will also grow by half a point, to 7.5%.
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