Half Year 2026 Coca-Cola Europacific Partners PLC Earnings Call Transcript
Key Points
- Delivered strong first-half results with revenue up 6.1% and operating profit up 8.1%, driven by broad-based growth across markets and categories.
- Continued to gain market share, with value share up 20 basis points, led by gains in Europe.
- Strong momentum in key growth categories, with energy volumes up 19% and zero-sugar volumes up 10%.
- Successful execution of major FIFA World Cup activation, driving consumer engagement and supporting volume growth.
- Southeast Asia operations, particularly the Philippines and Indonesia, are showing strong growth and improving profitability, with the Philippines margins approaching the 10% target.
- Revenue per case growth was modest at 0.4%, impacted by a strong prior-year comparison and a shift to larger, value-oriented formats in Europe.
- Cost of sales per unit case increased by 0.6%, with higher costs expected in the second half due to Middle East-related pressures.
- The Suntory alcohol exit in APS created a headwind, reducing total revenue by over 1% in the first half.
- Core sparkling volume growth in Europe remains challenged, with Coca-Cola Classic volumes slightly down, though revenue is growing.
- Management reaffirmed full-year guidance, implying a deceleration in growth in the second half, partly due to six fewer trading days and conservative outlook.
Hello and thank you for standing by and welcome to today's Coca-Cola Europacific Partners half year 2026 results conference call. (Operator Instructions) I must advise you that this conference call is being recorded today.
I would now like to hand the conference over to Vice President of Investor Relations and Corporate Strategy, Sarah Willett. Please go ahead, Sarah.
Thank you all for joining us today. I'm here with Damian Gammell, our CEO; and our CFO, Ed Walker.
First, a reminder of our cautionary statements. This call will contain forward-looking management comments and other statements reflecting our outlook. These comments should be considered in conjunction with the cautionary language contained in today's release as well as the detailed cautionary statements found in reports filed with the UK, US, Dutch and Spanish authorities. A copy of this information is available on our website at
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