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Tuesday 30 April, 2019


Trading Update for the First-Quarter ended 29 March 2019 and Interim Dividend Declaration

DAMIAN GAMMELL, CHIEF EXECUTIVE OFFICER, SAID: 

“We have delivered a good start to the year, reflecting our continued focus on driving profitable revenue growth through price and mix realisation and solid in market execution. We have a market-leading position with the world’s best non-alcoholic ready-to-drink brands. We believe we have an attractive and exciting investment story, as we continue to expand our total beverage portfolio while strengthening core capabilities that will drive sustainable success. The 100th and 90th birthdays of Coca-Cola in France and Germany respectively, as well as our listing on the London Stock Exchange also marked the quarter.

“Although we have had a good start to the year, the first quarter is our smallest. We are focused on building on this momentum with the key summer selling season ahead of us, albeit following a strong 2018, with some exciting innovations in the pipeline, including the launch of Coke Energy and Aquarius enhanced water. We remain confident in our annual growth objectives over the mid-term, and today we are reaffirming our full-year guidance for 2019. This, alongside declaring a dividend up almost 20%, and the continuation of our share buyback programme, collectively demonstrate our ultimate goal of delivering sustainable value for our shareholders.”

 

  • Comparable volume +4.5% reflecting solid execution, soft weather-driven comparables, partly offset by a later Easter and the impact of last year’s soft drinks tax changes
  • Revenue per unit case +5.5%2,4 benefiting from favourable underlying price and package mix (e.g. small cans volume up 13.5%)
  • Transactions outpaced volume growth
  • Launched light cola flavours; Honest Lemonade; Monster Espresso;
  • Honest Tea in glass in select markets
  • Declaring first-half interim dividend of €0.62, up 19% versus last year, maintaining annualised dividend payout ratio of 50% 
  • Returned further €234m (5.3m shares) year-to-date via share buyback of previously announced €1.5bn programme (cumulative now €734m; 17.8m shares) 
  • Reaffirming Full-Year 2019 guidance7
  • Joined the Main Market of London Stock Exchange on 28th March 2019 

 

1. A unit case equals approximately 5.678 litres or 24 8-ounce servings 2. Revenue per unit case and the change in revenue per unit case are Fx-Neutral 3. Adjusted for selling day shift. Reported volume growth 3.0% 4. The change in revenue per unit case, revenue and Fx-Neutral revenue includes the impact of 2019 incremental soft drinks taxes in Great Britain and France of 3.0% 5. Refer to ‘Note Regarding the Presentation of Alternative Performance Measures’ for further detail about these measures 6. A transaction is defined as the serving container that is ultimately used directly by the consumer. It can be a standalone container or one part of a multipack 7. Refer to page 28 of the 2018 Integrated Report (http://ir.ccep.com/financial-reports/annual-reports) or the website Guidance page (http://ir.ccep.com/financial-highlights/guidance) for more detail

 

 

Further resources

Q1 2019

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