The shares of Coca-Cola Europacific Partners (CCEP) have recorded a decline of more than 5% on the stock market this Tuesday, after releasing its accounts for the first half of the year, in which it obtained a net accounting profit of 991 million euros, 5.8% more, and confirmed its forecasts for the entire year unchanged.
Specifically, the shares of the soft drink giant have lost 5.45% in the session, settling at 90.9 euros per share.
The company's revenue rose in the first half of the year to 10.724 billion euros, which implies an advance of 4.4%. The total volume sold increased by 5.6%, reaching 2.041 billion unit cases, driven by the good performance of sugar-free soft drinks (+10%), energy drinks (+18.6%), and the hydration category, as well as by the promotional activity associated with the World Cup.
In the first half, the business evolution of Coca-Cola Europacific Partners (CCEP) in Iberia (Spain, Portugal, and Andorra) showed solid growth in both revenue and volume. Thus, it reached revenues of 1.639 billion euros, 5.4% more than in the same period of the previous year.
"Although the consumption environment remains complex and the total impact of the situation in the Middle East continues to be uncertain, our results for the first half demonstrate the resilience of our business and the strength of our growth model," highlighted the CEO of Coca-Cola Europacific Partners, Damian Gammell.
For the whole year, the multinational maintains its projections unchanged and expects its revenues to increase between 3% and 4%, while estimating that its operating result will grow around 7%.
"We reiterate our forecasts for the entire year and maintain our focus on our strategic priorities: increasing the presence of our cold teams, attracting more customers, and accelerating growth in the Philippines and Indonesia. We continue to manage the price mix, promotions, expenses, and productivity of our operations, while making record investments, especially in artificial intelligence (AI), technology, and supply chain, to drive future growth," he noted looking ahead.