Coca-Cola Europacific Partners has recorded a rise in sales despite market challenges.
- Sales for the third quarter increased by 2.4% to £4.50 billion.
- Year-to-date sales have also seen a rise of 2.7%, amounting to £12.97 billion.
- Despite the increase in sales value, global volumes have seen minimal changes, with European volumes declining.
- Company remains optimistic about hitting mid-term growth aims despite current challenges.
Coca-Cola Europacific Partners, a leading entity in the beverage industry, has reported a slight increase in its sales figures for the third quarter of 2024. Sales have ascended by 2.4%, reaching £4.50 billion. For the year up to the present, the sales have seen an increment of 2.7%, making a total of £12.97 billion.
Whilst the sales figures portray a positive outlook, the global volumes have stagnated, and specifically in Europe, there has been a decline of 1.4% to 695 million units. The overall global volume for the year-to-date has increased marginally by 0.4%, but in Europe, a decrease of 2.3% has been observed.
Despite the drop in regional volume numbers, the company upholds its profit and cash projections for the full year. Damian Gammell, the Chief Executive, described the year as ‘solid,’ acknowledging the decrease in European volumes as a consequence of adverse weather conditions and weakened consumer demand. He highlighted the importance of active promotions during major events such as the UEFA Euros and the Olympics in driving underlying volume growth.
The focus on revenue growth management has been pivotal, with strategies around pricing and promotions ensuring the retention of consumer relevance while stimulating profitable growth in revenue per unit case. Gammell expressed confidence in the company’s preparedness for 2025 and in achieving its mid-term growth objectives, underscoring a forward-looking stance.
Coca-Cola Europacific Partners remains optimistic about future growth despite current volume challenges in Europe.
