Coca-Cola Europacific Partners, the largest bottler of the soft drink company, chaired by Sol Daurella, achieved global revenues of 13,784 million euros during the first nine months of this year, 6% more compared to the same period in 2022, despite to register a 1% drop in volume, it reported to the CNMV this Wednesday. The largest decrease in volumes was in the Oceania market (-6%), while in Europe growth is flat. Profits per box/unit sold, on the other hand, grew by 9.5% due to the rise in prices. The market of Spain, Portugal and Andorra has reported 2,570 million euros, 10% above 2022. The good results in the region of Coca-Cola Zero Sugar, Sprite and Monster stood out, while Royal Bliss achieved double-digit growth (43%), supported by launch in Portugal.
"Revenue growth per case/unit (UC) was driven by pricing management implemented in the first quarter, and a favorable product mix," said Damian Gammell, CEO. In the third quarter the decrease in volumes is more pronounced. In that period, the firm sold 4.5% less, but earned 1.5% more, with revenues of 4,807 million euros. Gammell explains that this reduction in volume in the third quarter "reflects the comparison with a previous year of solid growth, as well as the strategic decision to eliminate high-volume water containers in Spain from the portfolio." The good tourist season has also benefited the company, as he highlights.
With this behavior until September, the group confirmed its annual forecasts and announced an annual dividend almost 10% higher than last year -1.84 euros per share-. "This demonstrates the strength of our business and the ability to continue offering value to our shareholders," added the manager.
On the other hand, the company reaffirms the joint acquisition of Coca-Cola Beverages Philippines with Aboitiz Equity Ventures, an operation that will strengthen its position in Asia. "We remain on track to close this transaction early next year. We look forward to sharing more information in due course," the firm's CEO said.
Looking ahead to next year and beyond, Gammell explained that the company remains confident in the resilience of its categories, "despite continued macroeconomic and geopolitical volatility."
"We continue to actively manage our pricing and promotional spend to remain affordable and attractive to our consumers, along with our focus on productivity and free cash flow. All backed by the talent and commitment of our colleagues, and our strong relationships with our customers. brand partners and customers," he added.
