The following is a summary of the Coca-Cola Europacific Partners PLC (CCEP) Q1 2024 Earnings Call Transcript:
Financial Performance:
Coca-Cola Europacific Partners reported Q1 2024 top-line growth of 5.3%, with volume growth of 2% and revenue per case of 3.4%.
The company sees strong performance in Australia, Pacific, and Southeast Asia markets and marked double-digit volume growth in the Philippines.
The company reaffirms full-year revenue growth guidance of around 4% for 2024 and expects free cash flow generation of around €1.7 billion.
Business Progress:
Coca-Cola Europacific Partners continues to invest in core brands, experiencing growth in Coca-Cola trademark volumes and Monster energy drink which drives overall energy volume growth.
Strategic portfolio decisions continue with the transition out of the Capri-Sun brand.
Company plans to leverage upcoming sporting events to engage consumers.
A successful acquisition in the Philippines has opened up further opportunities in Indonesia.
There's an ongoing strategy to expand space in retailers for fast-growing brands and optimize promotional spend.
Potential expansion of the portfolio is being considered with brands like Body Armor.
More details: Coca-Cola Europacific IR
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