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Tuesday 07 November, 2017


COCA-COLA EUROPEAN PARTNERS REPORTS INTERIM RESULTS FOR THE THIRD-QUARTER ENDED 29 SEPTEMBER 2017

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LONDON, 7 November 2017 - Coca-Cola European Partners plc (CCEP) (ticker symbol: CCE) today announces its interim results for the third-quarter ended 29 September 2017 and affirms full-year 2017 outlook.

Highlights

  • Third-quarter diluted earnings per share were €0.62 on a reported basis or €0.68 on a comparable basis, including a negative currency translation impact of €0.01.
  • Third-quarter reported revenue totalled €3.0 billion, down 1.5 percent, or down 0.5 percent on a comparable and fx-neutral basis. Volume was down 3.5 percent on a comparable basis.
  • Third-quarter reported operating profit was €427 million; comparable operating profit was €470 million, up 2.5 percent on a comparable basis, or up 3.5 percent on a comparable and fx-neutral basis.
  • CCEP provides full-year guidance for 2017 including comparable diluted earnings per share in a range of €2.10 to €2.13 including currency translation at recent rates.
  • CCEP remains on track to achieve pre-tax savings of €315 million to €340 million through synergies by mid-2019.
  • CCEP declares quarterly dividend of €0.21 per share.

“Our third-quarter results were in-line with our guidance and we remain firmly on track to achieve our planned synergies and continue to make solid progress in building on our foundation of winning with customers through great beverages, great service, and great people,” said Damian Gammell, Chief Executive Officer.

“We remain focused on driving profitable revenue growth, expanding our portfolio, and continuing to invest in our business to capture the long-term growth opportunities ahead of us,” Mr. Gammell said. “This includes improving our sales force capabilities, evolving our routes-to-market, reducing low value promotions, and leveraging our digital abilities. These factors, combined with our focus on cash generation, will help us address the headwinds that lie ahead and importantly, support our most important goal which is driving shareholder value.”

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