Friday, December 02, 2022

Largest Coca-Cola bottler grows sales by 19% and announces record dividend

Largest Coca-Cola bottler grows sales by 19% and announces record dividend

Coca-Cola Europacific Partners, the largest bottler of the US soft drink brand, reported sales of 13,025 million euros in the first nine months of the year, up 19% from the same period last year, and a record announcement this Wednesday. Of. Dividends after revising their forecasts for the year as a whole. Iberia, which includes Spain, Portugal and Andorra, is the market that grew the most by 25.5% to 2,341 million, driven by strong improvements in tourism and good weather.

The company, headed by Spanish Sol Dourela, thus consolidates the recovery that began in 2021, after a fall in 2020 due to restrictions due to the pandemic. Coca-Cola Europacific Partners will distribute a dividend of 1.12 euros on 7 December, corresponding to the second half of the year. Thus, the annual shareholder remuneration increases in 2022 compared to the previous one by 20%, to 1.68 euros, which is a record for the company.

VAT effect

As for revenue in the third quarter, they reached 4,745 million, up 20% compared to the same months in 2021. In Iberia, quarterly sales totaled 970 million, up 22%, thanks to “the continued recovery of tourism and a favorable climate”. , “VAT increase in Spain” [a las bebidas azucaradas] Volumes in the food channel continue to be impacted, the company said in a statement.

All markets have corrected above double digits. In January and September, sales in the United Kingdom increased 20% to 2,293 million; in France, 16.5%, up to 1,585 million; In Germany, 17.5%, up to 2,029 million, and in Northern Europe, 14%, up to 2,023. In Australia and the rest of the Asia-Pacific countries, where it is present following the purchase of Amatil announced in 2020, sales grew 20.5%, to 2,754 million.

According to the CEO, Damien Gammel, the results are due to the “continued recovery of the AFH channel”. [away from home, hostelería y restauración]A return to travel and tourism, a good time in Europe and the endurance of the food sales channel for home. With regard to prices, the executive said in the statement: “We are effectively managing the key levers of both prices and promotions across all of our products, in addition to focusing on improving efficiency.”

The company’s prospects are positive at the moment, despite economic forecasts “with more uncertainty” and it has revised its forecasts for 2022, both in terms of revenue and operating income.

Cola Zero Sugar—its sales grew 11% in the third quarter compared to 2021 and 25% compared to 2019, before the pandemic—and Monster both had excellent performance, with volumes above 2019. Energy drinks only. Monster’s led growth is the highest, 25.5% compared to 2021 and 55.5% compared to 2019.

The purchase of Australian bottler Amatil in 2020 for a total amount of approximately $6,000 million consolidated the company’s global leadership, with more than 33,000 employees and two million customers in 26 countries.

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