Coca-Cola EP maintains outlook after third-quarter revenue growth

Coca-Cola Europacific Partners PLC on Tuesday said revenue increased in the third quarter, driven by higher volumes and revenue per unit case, amid continued market pressures.

The bottler of Coca-Cola Co's products across Western Europe, Australia, New Zealand and parts of Asia-Pacific said third-quarter revenue rose 6.5% to EUR5.76 billion, from EUR5.41 billion a year earlier. Group volumes grew 3.5% on an adjusted basis, with revenue per unit case up 2.2%.

In Europe, revenue rose 5.8% to EUR4.44 billion, while in Australia, Pacific & Southeast Asia it increased 9.2% to EUR1.33 billion.

Chief Executive Damian Gammell said: "The consumer environment remains challenging, and the geopolitical situation has impacted operating costs; however, our business remains resilient. The strength of our brands, disciplined approach to pricing and promotions across our broad pack offering, tight control of discretionary spending and continued productivity gains keep us on track to deliver our unchanged full-year guidance."

The company reaffirmed its annual guidance of foreign exchange-neutral revenue growth of 3.0% to 4.0% and operating profit growth of around 7.0%.

Based on current exchange rates, the company now expects a foreign exchange headwind of around 10 basis points to annual revenue and a tailwind of around 30 basis points to operating profit.

Coca-Cola Europacific Partners said it had hedged more than 95% of its commodity requirements for 2026 and expected cost of sales to grow around 1.5%.

The company declared a second-half interim dividend of EUR1.42 per share, bringing its full-year dividend to EUR2.24 per share. As of October 30, it said it completed around EUR880 million of its EUR1.00 billion share buyback programme.

Coca-Cola Europacific Partners said it will continue to invest in artificial intelligence, technology, coolers and its supply chain to support future growth.

Shares in the London-listed company fell 2.2% at 8,385.00 pence per share on Tuesday morning.

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