Coca-Cola Europacific Partners experienced a boost in pretax profit and revenue in the previous year, with strong performance in Europe compensating for weakness in Asia-Pacific.
Financial Highlights
- Pretax profit: Increased to 2.20 billion euros ($2.38 billion) from EUR1.96 billion in the previous year.
- Revenue: Rose to EUR18.30 billion from EUR17.32 billion.
- Regional Performance: Europe saw a 7.5% rise in revenue, while Asia-Pacific experienced a 5% decline due to softer consumer spending.
Focus on Europe
The company attributed its overall revenue growth to an 8.5% increase in revenue per unit case in Europe. This was primarily fueled by price hikes, promotional optimization, and a favorable product mix.
Dividend and Future Outlook
- Dividend per share: EUR1.84, up 9.5% from the previous year.
- Growth Targets for 2024: Revenue growth of around 4% and operating profit growth of approximately 7%.
Strategic Acquisition
Coca-Cola Europacific Partners recently concluded a $1.8 billion joint acquisition of Coca-Cola Beverages Philippines from The Coca-Cola Company in collaboration with Aboitiz Equity Ventures.
The company remains focused on maintaining its mid-term objectives for sustainable growth and profitability.