Coca-Cola Europacific Partners (CCEP) has achieved a profit of 675 million euros until June, almost tripling the figure for the same period last year by growing 175%, according to the results presented this Thursday. Despite inflation and the international context, the largest bottler of the beverage and other of its brands had a turnover of 8,280 million euros in six months, 40% more.
The increase in the cost of inputs was noted in its production chain. Operating costs have also increased, jumping 30%, to 2,025 million euros. In any case, operating profit grew to 967 million, 86% more.
Damian Gammell, CEO, valued the evolution of the business as very positive. "The key was the continued recovery of restaurants, pubs, cafes and bars, a return to travel and tourism and a resilient domestic channel," he detailed in the results note.
By markets, in the Iberia segment, which includes Spain, Portugal and Andorra, revenues increased by 28.5% in the first half, to 1,371 million euros. It is thanks to the recovery of sales outside the home, in hotels, restaurants and cafeterias. It is something that is observed above all in Spain.
The growth of the region is the highest among the European markets, although the United Kingdom exceeds sales with 1,463 million until June, 22.5% more.
The company hopes to keep its pulse despite the global context. "We remain confident in the resilience of our lines, despite a more uncertain outlook given macroeconomic conditions, geopolitical volatility and higher inflation," Gammell said.
The company has actually improved its revenue and operating profit forecasts for the year. Billing would grow 11%-13% pro forma, from the previous 8%-10%, while profit would grow 9%-11%, from the previous 6%-9%. "This shows the strength of our business," said the manager. Unit costs would also grow, half a point to 7.5%.
