Coca-Cola Europacific Partners (CEPP) reported earnings of 811 million euros for the first half of the year, marking a decline of five percent from the same period last year. The same period saw revenues rise by nine and a half percent to 9.828 billion euros, while operating profit slipped by 2.4 percent to 1.142 billion euros, a result CEPP attributed to transformation costs tied to business upgrades.
The group, whose largest shareholder is the Daurella family, highlighted strong performances in Australia and the broader Pacific region, with the Philippines leading the way. These gains helped offset a softer volume in Europe. A key driver of the improvement was the acquisition last year of Coca-Cola Beverages Philippines, the leading bottler of the brand in the country, which expanded CEPP’s footprint in a high-growth market.
The soda maker linked the modest European decline to unfavorable weather conditions. Still, several product lines delivered notable momentum during the first half, including Sprite, Aquarius, Powerade, Royal Bliss, and tea. Growth in Monster and Powerade also contributed to the positive trajectory.
Chief executive Damian Gammell underscored that the June results were solid and support the full-year 2024 outlook. In his view, the company remains well positioned to operate in categories that continue to exhibit strength. CEPP continues to invest in growth initiatives and has significant commercial plans for this year and the years ahead to attract more customers and consumers, according to the executive summary of the period.
Gammell also emphasized that the group remains focused on growing revenue in a profitable manner. The company actively manages pricing and promotional expenses to keep products affordable and relevant for shoppers, a strategy that CEPP sees as essential to sustaining demand across its markets.