Coca-Cola Europacific Partners Plc Announces Results for The Six Months Ended 27 June 2025
Coca-Cola Europacific Partners (NYSE:CCEP) reported solid H1 2025 results with revenue growth of 4.5% to �10,274M and operating profit up 19.4% to �1,364M. The company delivered adjusted comparable volume growth of 0.3%, with Europe seeing -0.3% and Asia Pacific +1.5%.
Key financial metrics include diluted EPS of �1.99 (up 15.0%), an interim dividend of �0.79 per share, and comparable free cash flow of �425M. The company reaffirmed its FY25 guidance, projecting revenue growth of 3-4% and operating profit growth of ~7%.
CCEP continues its �1 billion share buyback program announced in February 2025, with approximately �460M completed. The company maintains strong market positions across its 31 markets despite macroeconomic volatility, with notable growth in energy drinks and strategic initiatives in technology and AI.
Coca-Cola Europacific Partners (NYSE:CCEP) ha riportato solidi risultati nel primo semestre 2025 con una crescita dei ricavi del 4,5% raggiungendo 10.274 milioni di euro e un utile operativo in aumento del 19,4% a 1.364 milioni di euro. L'azienda ha registrato una crescita del volume comparabile rettificato dello 0,3%, con l'Europa a -0,3% e l'Asia Pacifico a +1,5%.
I principali indicatori finanziari includono un utile per azione diluito di 1,99 � (in aumento del 15,0%), un dividendo intermedio di 0,79 � per azione e un flusso di cassa libero comparabile di 425 milioni di euro. La società ha confermato le previsioni per l'intero anno 2025, prevedendo una crescita dei ricavi del 3-4% e una crescita dell'utile operativo di circa il 7%.
CCEP prosegue il suo programma di riacquisto azionario da 1 miliardo di euro annunciato a febbraio 2025, con circa 460 milioni di euro già completati. L'azienda mantiene posizioni di mercato solide in 31 mercati nonostante la volatilità macroeconomica, con una crescita significativa nelle bevande energetiche e iniziative strategiche nel campo della tecnologia e dell'intelligenza artificiale.
Coca-Cola Europacific Partners (NYSE:CCEP) reportó sólidos resultados en el primer semestre de 2025 con un crecimiento de ingresos del 4,5% alcanzando 10.274 millones de euros y un beneficio operativo que aumentó un 19,4% hasta 1.364 millones de euros. La compañía registró un crecimiento ajustado del volumen comparable del 0,3%, con Europa en -0,3% y Asia Pacífico en +1,5%.
Las métricas financieras clave incluyen un beneficio por acción diluido de 1,99 � (un aumento del 15,0%), un dividendo interino de 0,79 � por acción y un flujo de caja libre comparable de 425 millones de euros. La empresa reafirmó su guía para todo el año 2025, proyectando un crecimiento de ingresos del 3-4% y un crecimiento del beneficio operativo de alrededor del 7%.
CCEP continúa con su programa de recompra de acciones de 1.000 millones de euros anunciado en febrero de 2025, con aproximadamente 460 millones de euros ya completados. La compañía mantiene posiciones sólidas en el mercado en 31 mercados a pesar de la volatilidad macroeconómica, con un crecimiento notable en bebidas energéticas e iniciativas estratégicas en tecnología e inteligencia artificial.
Coca-Cola Europacific Partners (NYSE:CCEP)� 2025� 상반기에 견고� 실적� 보고하며 매출� 4.5% 증가하여 102� 7,400� 유로� 기록했고, 영업이익은 19.4% 증가하여 13� 6,400� 유로� 달했습니�. 회사� 조정� 비교 매출량이 0.3% 증가했으�, 유럽은 -0.3%, 아시� 태평양은 +1.5%� 보였습니�.
주요 재무 지표로� 희석 주당순이�(EPS) 1.99유로(15.0% 증가), 중간 배당� 주당 0.79유로, 그리� 비교 가능한 자유현금흐름 4� 2,500� 유로가 포함됩니�. 회사� 2025 회계연도 전체 가이던스를 재확인하�, 매출 성장� 3~4%와 영업이익 성장� � 7%� 전망했습니다.
CCEP� 2025� 2월에 발표� 10� 유로 규모� 자사� 매입 프로그램� 계속 진행 중이�, � 4� 6,000� 유로� 이미 완료했습니다. 회사� 거시경제 변동성에도 불구하고 31� 시장에서 강력� 시장 지위를 유지하고 있으�, 에너지 음료 부문에� 눈에 띄는 성장� 기술 � 인공지� 분야� 전략� 이니셔티브를 추진하고 있습니다.
Coca-Cola Europacific Partners (NYSE:CCEP) a annoncé de solides résultats pour le premier semestre 2025 avec une croissance du chiffre d'affaires de 4,5% à 10 274 M� et un bénéfice d'exploitation en hausse de 19,4% à 1 364 M�. La société a enregistré une croissance ajustée des volumes comparables de 0,3%, avec l'Europe à -0,3% et la région Asie-Pacifique à +1,5%.
Les principaux indicateurs financiers comprennent un bénéfice par action dilué de 1,99 � (en hausse de 15,0%), un dividende intérimaire de 0,79 � par action et un flux de trésorerie libre comparable de 425 M�. La société a confirmé ses prévisions pour l'exercice 2025, anticipant une croissance du chiffre d'affaires de 3 à 4% et une hausse du bénéfice d'exploitation d'environ 7%.
CCEP poursuit son programme de rachat d'actions d'un milliard d'euros annoncé en février 2025, avec environ 460 M� déjà réalisés. La société conserve des positions solides sur ses 31 marchés malgré la volatilité macroéconomique, avec une croissance notable dans les boissons énergétiques et des initiatives stratégiques dans les domaines de la technologie et de l'intelligence artificielle.
Coca-Cola Europacific Partners (NYSE:CCEP) meldete solide Ergebnisse für das erste Halbjahr 2025 mit einem Umsatzwachstum von 4,5% auf 10.274 Mio. � und einem operativen Gewinnanstieg von 19,4% auf 1.364 Mio. �. Das Unternehmen verzeichnete ein bereinigtes vergleichbares Volumenwachstum von 0,3%, wobei Europa -0,3% und Asien-Pazifik +1,5% aufwiesen.
Wichtige Finanzkennzahlen umfassen ein verwässertes Ergebnis je Aktie von 1,99 � (plus 15,0%), eine Zwischen Dividende von 0,79 � pro Aktie und einen vergleichbaren freien Cashflow von 425 Mio. �. Das Unternehmen bestätigte seine Prognose für das Geschäftsjahr 2025 und erwartet ein Umsatzwachstum von 3-4% sowie ein operatives Gewinnwachstum von etwa 7%.
CCEP setzt sein im Februar 2025 angekündigtes 1-Ѿ-ܰ-پü첹ܴڱDz fort, von dem bereits rund 460 Mio. � umgesetzt wurden. Das Unternehmen hält trotz makroökonomischer Volatilität starke Marktpositionen in 31 Märkten und verzeichnet bemerkenswertes Wachstum im Bereich Energy-Drinks sowie strategische Initiativen in Technologie und KI.
- None.
- European volumes declined 0.3% in H1
- Indonesia experiencing weaker consumer backdrop affecting performance
- FX headwind of ~150 basis points expected for full-year revenue
- Revenue guidance lowered to 3-4% from previous ~4%
- RTD Tea & Coffee declined 12.6% due to Frestea decline in Indonesia
Insights
CCEP delivered solid H1 2025 results with adjusted comparable revenue up 2.5% and operating profit up 7.2%, reaffirming full-year guidance despite challenges.
CCEP has delivered a solid first half performance with
The volume picture shows diverging regional performance. Overall adjusted comparable volume grew just
Revenue per unit case, a key profitability metric, increased by
Cash generation remains robust with
While CCEP has slightly adjusted its full-year revenue growth guidance downward to
The company's ability to grow value share in the non-alcoholic ready-to-drink category (
Overall, CCEP's results demonstrate resilience in a challenging operating environment, with the company effectively leveraging pricing power, portfolio optimization, and efficiency initiatives to deliver solid profit growth despite modest volume gains.
UXBRIDGE, ENGLAND / / August 6, 2025 / Solid first half; reaffirming full-year profit & cash guidance
H1 2025 Total CCEP Key Financial Metrics[1] | As Reported | Comparable [1] | Change vs H1 2024 | Adjusted Comparable[4] | Change vs H1 2024 | |||||
As Reported | Comparable [1] | Comparable FXN[1] | Adjusted Comparable[4] | Adjusted Comparable FXN[4] | ||||||
Volume (M UC)[2] | 1,932 | 1,932 | 1,932 | |||||||
Revenue per UC[2] (�) | 5.36 | 5.36 | ||||||||
Revenue (€M) | 10,274 | 10,274 | 10,274 | |||||||
Operating profit (€M) | 1,364 | 1,390 | 1,390 | |||||||
Diluted EPS (�) | 1.99 | 2.02 | ||||||||
Comparable free cash flow (€M) | 425 | |||||||||
Interim dividend per share (�) | 0.79 |
DAMIAN GAMMELL, CHIEF EXECUTIVE OFFICER, SAID:
"We're pleased to have delivered a solid first half performance. This reflects our great brands, great people, great execution and strong relationships with our brand partners and customers. We've continued to grow share ahead of the market, create value for our customers, and deliver solid gains in revenue per unit case through revenue and margin growth management.
"In Europe, Easter timing, better weather and performance in Away from Home supported a return to volume growth in Q2. Total first half volumes were impacted by a weaker consumer backdrop in Indonesia, however we remain excited about the long-term opportunity and continue to focus on our transformation journey. Our other APS markets performed well.
"Given our year-to-date performance, strong commercial plans for the balance of the year, continued focus on productivity and a good start to the second half, we are pleased to be reaffirming our full-year profit and cash guidance. While the global macroeconomic environment is volatile, we remain resilient. Our leading market positions in growing categories across our 31 locally driven markets continue to support our performance.
"Our first half interim dividend and ongoing share buybacks demonstrate the strength of our business and our ability to deliver continued shareholder value. Strong cash generation is supporting record investment in future growth. This includes unlocking more value with technology and AI, as showcased at our recent investor event. We're confident we have the right strategy, done sustainably to deliver on our mid-term growth objectives."
___________________________
Note: All footnotes included alongside the 'About CCEP' section
*Comparable volume movements adjust for the impact of selling day movements, with two fewer selling days in H1'25 versus H1'24
H1 Financial Summary | ||||||||||
H1 2025 Metric[1] | As Reported | Comparable[1] | Change vs H1 2024 | Adjusted Comparable[4] | Change vs H1 2024 | |||||
As Reported | Comparable [1] | Comparable FXN[1] | Adjusted Comparable[4] | Adjusted Comparable FXN[4] | ||||||
Total CCEP | ||||||||||
Volume (M UC)[2] | 1,932 | 1,932 | 1,932 | |||||||
Revenue (€M) | 10,274 | 10,274 | 10,274 | |||||||
Cost of sales (€M) | 6,637 | 6,643 | 6,643 | |||||||
Operating profit (€M) | 1,364 | 1,390 | 1,390 | |||||||
Profit after taxes (€M) | 937 | 951 | ||||||||
Diluted EPS (�) | 1.99 | 2.02 | ||||||||
Revenue per UC[2] (�) | 5.36 | 5.36 | ||||||||
Cost of sales per UC[2] (�) | 3.46 | 3.46 | ||||||||
Comparable free cash flow (€M) | 425 | |||||||||
Interim dividend per share* (�) | 0.79 | |||||||||
Europe | ||||||||||
Volume (M UC)[2] | 1,246 | 1,246 | (1.9)% | (0.3)% | 1,246 | (0.3)% | ||||
Revenue (€M) | 7,471 | 7,471 | 7,471 | |||||||
Operating profit (€M) | 1,070 | 1,053 | 1,053 | |||||||
Revenue per UC[2] (�) | 5.98 | 5.98 | ||||||||
APS (Australia, Pacific & Southeast Asia) | ||||||||||
Volume (M UC)[2] | 686 | 686 | 686 | |||||||
Revenue (€M) | 2,803 | 2,803 | 2,803 | (0.5)% | ||||||
Operating profit (€M) | 294 | 337 | 337 | |||||||
Revenue per UC[2] (�) | 4.23 | (2.6)% | 4.23 |
*First half interim dividend per share of
H1 & Q2 Revenue Highlights[1],[4]
H1 Revenue: Reported +
� A leading value creator, delivering solid revenue growth for retail customers in our key markets compared to FMCG peers
� NARTD YTD value share[5] +10bps in-store & broadly flat online
� Transactions growing ahead of volumes in Europe; behind in APS impacted by Indonesia
� Adjusted comparable volume +
- By geography:
� Europe -
� APS +
� Australia/Pacific (AP): mid-single digit increase driven by Australia & the Pacific Islands
� Southeast Asia (SEA): volumes broadly flat with continued growth in the Philippines (cycling H1'24 +
- By channel:
Away from Home (AFH) +
� Europe: AFH +
� APS: AFH -
� Adjusted comparable revenue per unit case +
� Europe: +
� APS:
Q2 Revenue: Reported +
� Adjusted comparable volume +
- By geography:
� Europe +
� APS +
� AP: continued solid underlying momentum
� SEA: low single-digit decline driven by double-digit volume decline in Indonesia, largely reflecting a weaker consumer backdrop, more than offsetting Philippines growth (cycling Q2'24 +
- By channel: AFH +
� Europe: AFH +
� APS: AFH -
� Adjusted comparable revenue per unit case +
� Europe: +
� APS: +
VOLUMES NOTE - Year on year volume movements are disclosed on a comparable and adjusted comparable basis which (i) assumes the acquisition of Coca-Cola Beverages Philippines, Inc. occurred at the beginning of the comparative period & (ii) adjusts for the impact of two fewer selling days versus H1'24
Excluding selling days adjusted H1'25 volumes were CCEP -
H1 Operating Profit, Other Highlights & FY25 Guidance[1]
H1 Operating profit: Reported +
Adjusted comparable cost of sales per unit case +
3.6% [2],[3],[4] as expected, reflecting increased revenue per unit case driving higher concentrate costs, inflation in manufacturing & tax increases in France & GBAdjusted comparable operating profit of
�1,390 , +7.2% [3],[4] reflecting top-line growth & ongoing productivity & efficiency programmes. Reported operating profit of�1,364 , +19.4% reflecting lower business transformation costsComparable diluted EPS of
�2.02 , +3.1% [3] (reported�1.99 , +15.0% )
Other
� Comparable free cash flow: generated solid comparable free cash flow of
� Following the transfer of CCEP's UK listing to the Equity Shares (Commercial Companies) category in November 2024, CCEP entered the FTSE UK Index Series in March 2025
� Sustainability highlights:
� Carbon Disclosure Project's A list for Climate - 9th consecutive year
� Sustainalytics ESG top-rated companies list for 2025
FY25 guidance[1],[4]
Outlook for FY25 reflects our current assessment of market conditions. Unless stated otherwise, guidance is on an adjusted comparable[4] & FX-neutral basis.
(Based on current spot rates, FX represents a full year headwind of ~150 basis points to revenue & ~200 basis points to operating profit)
� Revenue: growth of
� Two fewer selling days in Q1, one extra in Q4
� Cost of sales per UC: comparable growth of ~
� Expect broadly flat commodity inflation (hedged at ~
� Concentrate directly linked to revenue per UC through incidence pricing
� Operating profit: growth of ~
� Comparable effective tax rate: ~
� CAPEX: ~
� Comparable free cash flow: at least
� Dividend payout ratio: ~
� Share buyback:
SECOND QUARTER & FIRST HALF REVENUE PERFORMANCE BY GEOGRAPHY[1]
All values are unaudited and all references to volumes are on a comparable basis for Europe and Australia / Pacific, and on an adjusted comparable basis for SEA, total APS and total CCEP. All changes are versus prior year equivalent period unless stated otherwise.
Second Quarter | First Half | ||||||
Fx-Neutral | Fx-Neutral | ||||||
� million | % change | % change | � million | % change | % change | ||
FBN[8] | 1,506 | 2,672 | |||||
Germany | 861 | 1,547 | |||||
Great Britain | 938 | 1,697 | |||||
Iberia[9] | 913 | 1,555 | (1.0)% | (1.0)% | |||
Total Europe | 4,218 | 7,471 | |||||
Australia / Pacific[11] | 772 | 1,613 | |||||
Southeast Asia[4],[12] | 595 | (3.4)% | (0.8)% | 1,190 | (1.2)% | ||
Total APS[4] | 1,367 | (0.5)% | 2,803 | (0.5)% | |||
Total CCEP[4] | 5,585 | 10,274 |
FBN[8]
� H1 volumes broadly flat excluding Q1 impact of Capri Sun de-listing.
� Double-digit volume growth in Monster across all markets driven by innovation with new listings for Monster Green & Ultra in the Netherlands.
� France sugar tax increase contributed to volume decline of Coca-Cola Original Taste, partly offset by strong double-digit growth of Sprite driven by new listings.
� H1 revenue/UC[10] growth driven by headline price increases, positive pack mix & the sugar tax increase in France.
Germany
� Q2 volume growth supported by timing of Easter; H1 low single-digit volume decline driven by the Home channel.
� Double-digit growth in Coca-Cola Zero Sugar & Monster, supported by Q2 launch of Rio Punch & Strawberry Dreams.
� H1 revenue/UC[10] growth driven by annualisation of headline price increase implemented in Q3 last year & positive pack mix.
Great Britain
� H1 low single-digit volume growth driven by improved performance in AFH, better weather in June & innovation (e.g. double-digit volume increase in both Monster & Dr. Pepper). Diet Coke performance also improved.
� Strong ARTD growth supported by launch of Jack Daniel's & Cherry Coca-Cola & new multipacks.
� H1 revenue/UC[10] growth supported by phasing on headline price increase (Q2 versus Q3 LY) & also reflects recent increase in sugar tax.
� Growth of Monster, Jack Daniel's & Coca-Cola & de-listing of Capri Sun supported positive brand mix.
Iberia[9]
� Slight volume decline driven by transition from Nestea to FuzeTea which is progressing ahead of plan. Volumes excluding transition impact low single-digit growth.
� Continued strong growth in Sports with Aquarius & in Energy with Monster, supported by new launches & great execution.
� H1 revenue/UC[10] growth driven by headline price increase.
Australia / Pacific[11]
� Mid-single digit increase in H1 volumes driven by growth in Australia & the Pacific Islands.
� Strong growth in Coca-Cola Zero Sugar & improving performance of Diet Coke driving growth in overall Coke trademark volumes.
� Fanta performed well with high single-digit volume growth supported by the Q1 launch of Fanta Lemon in Australia.
� Energy volumes grew double-digit, supported by innovation (e.g. Q1 launch of Ultra Ruby Red & Strawberry Dreams) alongside strong growth of the original Ultra White variant during Q2.
� Revenue/UC[10] solid growth driven by headline price increases & pack mix benefit from the growth of mini cans & smaller PET in Australia.
Southeast Asia[4],[12]
� Mid-single digit increase in H1 volumes in the Philippines (cycling H1'24 +
� Volume declines in Indonesia driven by a softer Ramadan festive period reflecting a weaker consumer & macroeconomic backdrop. The ongoing geopolitical situation in the Middle East also remained a factor.
� Revenue/UC[10] growth driven by headline price increases in the Philippines implemented during Q4 last year.
SECOND QUARTER & FIRST HALF VOLUME PERFORMANCE BY CATEGORY[1],[4],[6]
All values are unaudited and all references to volumes are on an adjusted comparable basis. All changes are versus prior year equivalent period unless stated otherwise.
Second Quarter | First Half | ||||
% of Total | % Change | % of Total | % Change | ||
dz-DZ® | |||||
Flavours & Mixers | (1.4)% | (1.3)% | |||
Water, Sports, RTD Tea & Coffee[13] | (0.8)% | (0.5)% | |||
Other inc. Energy | |||||
Total |
dz-DZ®
Q2: +
� Return of 'Share A Coke' campaign, well executed & received by consumers.
� Coca-Cola Original Taste H1 -
� Coca-Cola Zero Sugar H1 +
� Improved Diet Coke performance in Europe & APS supported by 'This is My Taste' campaign.
Flavours & Mixers
Q2: -
� Sprite H1 -
� Fanta H1 -
� Strong double-digit volume increase for Dr. Pepper in GB driven by new Cherry Crush variant.
Water, Sports, RTD Tea & Coffee[13]
Q2: -
� Water +
� H1 Sports +
� RTD Tea & Coffee -
Other inc. Energy
Q2: +
H1: +
� Strong growth in Energy with H1 +
� Juices decline of -
� Ongoing rollout of ARTD portfolio continues to perform strongly following Q1 launch of Bacardi & Coke, Jack Daniel's & Coca-Cola Cherry & Absolut Sprite Watermelon.
Conference Call
� 6 August 2025 at 12:00 BST, 13:00 CEST & 7:00 a.m. EDT; accessible via www.cocacolaep.com
� Replay & transcript will be available at www.cocacolaep.com as soon as possible
Financial Calendar
� Third quarter trading update: 5 November 2025
� Financial calendar available here: https://ir.cocacolaep.com/financial-calendar/
Contacts
Investor Relations
Sarah Willett | Charles Richardson | Matt Sharff | Dimitar Todorchev |
Media Relations Contacts
About CCEP
Coca-Cola Europacific Partners is one of the world's leading consumer goods companies. We make, move and sell some of the world's most loved brands - serving nearly 600 million consumers and helping over 4 million customers across 31 countries grow.
We combine the strength and scale of a large, multi-national business with an expert, local knowledge of the customers we serve and communities we support.
The Company is currently listed on Euronext Amsterdam, NASDAQ, London Stock Exchange and on the Spanish Stock Exchanges, and a constituent of both the NASDAQ 100 and FTSE 100 indices, trading under the symbol CCEP (ISIN No. GB00BDCPN049)
For more information about CCEP, please visit www.cocacolaep.com & follow CCEP on LinkedIn
___________________________
1. Refer to 'Note Regarding the Presentation of Adjusted financial information and Alternative Performance Measures' for further details & to 'Supplementary Financial Information' for a reconciliation of reported to comparable and reported to adjusted comparable results; Change percentages against prior year equivalent period unless stated otherwise
2. A unit case equals approximately 5.678 litres or 24 8-ounce servings
3. Comparable & FX-neutral
4. Non-IFRS adjusted comparable financial information as if the acquisition of Coca-Cola Beverages Philippines, Inc (CCBPI) occurred at the beginning of 2024 for illustrative purposes only. It does not intend to represent the results had the acquisition occurred at the dates indicated or project the results for any future dates or periods. Acquisition completed on 23 February 2024. Prepared on a basis consistent with CCEP IFRS accounting policies and includes acquisition accounting adjustments for the period 1 January to 23 February. Refer to 'Note Regarding the Presentation of Adjusted financial information and Alternative Performance Measures' for further details.
5. External data sources: Nielsen & IRI Period 5 YTD
6. Reflects selling day shift with 2 fewer selling days in H1'25 versus H1'24. Excluding the selling days adjusted volumes were CCEP -
7. Dividends subject to Board approval
8. Includes France, Monaco, Belgium, Luxembourg, the Netherlands, Norway, Sweden & Iceland
9. Includes Spain, Portugal & Andorra
10. Revenue per unit case
11. Includes Australia, New Zealand, the Pacific Islands & Papua New Guinea
12. Includes Philippines & Indonesia
13. RTD refers to ready to drink
14. As of 30 July 2025
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SOURCE: Coca-Cola Europacific Partners plc
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