FDBusiness.com

Coca-Cola European Partners Benefits From Improved Platform For Growth

 Breaking News
  • UK Grocery Prices Rising at Fastest Rate in Four Years The latest grocery market share figures from Kantar Worldpanel, for the 12 weeks to 5 November 2017, show UK supermarket sales have increased in value by 3.2% year-on-year in the run up to Christmas. Fraser McKevitt, head of retail and consumer insight at Kantar Worldpanel, explains: “Volume sales have increased by less than 1%, meaning it’s [...]...
  • Alcohol Minimum Unit Pricing to Go Ahead in Scotland The UK Supreme Court has ruled that minimum unit pricing for alcohol, which was passed overwhelmingly by the Scottish Parliament in 2012, can now proceed. Scottish Health Secretary Shona Robison has welcomed the decision and confirmed she intends to make a statement to Parliament shortly, setting out the Scottish Government’s next steps. Following the unequivocal backing [...]...
  • GEA Brings Together Technologies to Supply Extended Production Line For BMI GEA has recently been selected to supply an extended pasta filata cheese production line for BMI in Jessen, Germany. With this exemplary project GEA brings together its joint cheese-making expertise, resulting from its acquisition of de Klokslag and CMT in 2014 and 2015 respectively, with GEA’s flow and processing experience to provide a single offering for this [...]...
  • Bosch Packaging Technology Wins German Design Award 2018 The Sigpack VPF (Vertical Platform for Flat Pouches), the first freely scalable flat pouch machine from Bosch, has been honoured with the German Design Award 2018 in the Excellent Product Design category. The German Design Council presents the prestigious award on an annual basis. The German Design Award is the second prestigious accolade for the [...]...
  • Premier Foods Returns to Revenue Growth Premier Foods, the UK convenience food group, has reported group revenue of £353.3 million for the 26 weeks ended 30 September 2017 – an increase of 1.5% on the prior period – with Branded revenue in line with last year at £295.4 million while Non-branded revenue increased by 10.1% to £57.9 million. Group reported half year [...]...

Coca-Cola European Partners Benefits From Improved Platform For Growth

Coca-Cola European Partners Benefits From Improved Platform For Growth
March 22
10:54 2017

Coca-Cola European Partners, the world’s largest independent Coca-Cola bottler based on revenue, has reported a 12% increase in operating profit to €851 million on net revenue up by 44.5% to €9.1 billion for the year ended 31 December 2016, reflecting the inclusion of Germany and Iberia in 2016.

Created following last year’s merger of Coca-Cola Enterprises (CCE), Coca-Cola Iberian Partners (CCIP) and Germany-based Coca-Cola Erfrischungsgetranke (CCEG), Coca-Cola European Partners serves over 300 million consumers across Western Europe, including Andorra, Belgium, continental France, Germany, Great Britain, Luxembourg, Monaco, the Netherlands, Norway, Portugal, Spain and Sweden. Subsequent to the close of the merger, CCEP acquired Vifilfell, the Icelandic Coca-Cola bottler.

Pro forma comparable operating profit for 2016 was €1.4 billion, up 1.0%, or up 5.0% on a pro forma comparable and fx-neutral basis. Full-year pro forma comparable revenue was €10.9 billion, down 1.5%, or up 1.0% on a pro forma comparable and fx-neutral basis. Revenue per unit case grew 0.5% on a pro forma comparable and fx-neutral basis. Volume increased 0.5% on a pro forma comparable basis.

Damian Gammell, chief executive of Coca-Cola European Partners.

“During 2016, we successfully brought together the businesses of Coca-Cola European Partners, while delivering our growth objectives for revenue, profit, and diluted earnings per share,” says Damian Gammell, chief executive of Coca-Cola European Partners. “This transaction, completed only 10 months ago, establishes an improved platform for growth as we diversify and increase our portfolio value, collaborate to win with our customers, and operate more efficiently, effectively, and locally to capture the market opportunities.”

“As we worked to integrate our business in 2016, our company remained focused on driving core revenue, operating profit, and improving profit margins,” he adds. “We believe the operating advantages of our new company, coupled with the skill and dedication of our people, will enable us to deliver consistent, value-building growth that creates benefits for our stakeholders and drives shareholder value.”

Coca-Cola European Partners remains on track to achieve pre-tax savings of €315 million to €340 million through synergies by mid-2019.

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • November 28, 2017Fi Europe
  • December 4, 2017Plastics and Paper in Contact with Foodstuffs 2017
  • January 8, 2018RAI Exhibition
  • January 16, 2018Sival Plant Production Trade Show
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements