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Coca-Cola Enterprises Sees Solid Growth Opportunities in Western Europe

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Coca-Cola Enterprises Sees Solid Growth Opportunities in Western Europe

Coca-Cola Enterprises Sees Solid Growth Opportunities in Western Europe
September 10
11:30 2010

Coca-Cola Enterprises, the world’s largest bottler of Coca-Cola products which will soon be focused purely on some of the largest but also most mature soft drinks markets in Western Europe, is optimistic about the long-term growth prospects for this territory. The group aims to achieve in currency neutral terms: revenue growth of 4% to 6%; operating income growth of 6% to 8%; earnings per share growth in a high single-digit range; and return on invested capital improvement of 20 basis points or more per year.

“These metrics reflect the solid growth opportunity that lies ahead in Europe,” says John Brock, chairman and chief executive of Coca-Cola Enterprises. “They exceed our current long-term objectives. We are committed to these financial objectives, and in turn, to creating real value for our shareowners, our customers, and our employees.”

CCE currently sells approximately 80% of The Coca-Cola Company’s bottle and can volume in North America. However, once it has completed the sale of this business to Coca-Cola, CCE will be left as the sole licensed Coca-Cola bottler in Great Britain, Belgium, continental France, Luxembourg, Monaco, and the Netherlands. The disposal of the North American operations is on track for completion in the fourth quarter of 2010.

For its 2010 financial year, CCE expects, on a comparable and currency neutral basis, Europe to achieve high single-digit to low double-digit operating income growth, while operating income in North America is expected to grow at a mid to high single-digit rate. Also, on a comparable and currency neutral basis, the company now expects Europe to achieve mid single-digit revenue growth, while in North America revenue is expected to be approximately flat.

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