Coca-Cola Europacific Partners has reported a modest increase in its third-quarter sales despite encountering challenges such as fluctuating consumer demand and unpredictable summer weather conditions. This performance highlights the company’s strategic adaptability in a dynamically changing market.
Coca-Cola Europacific Partners experienced a 2.4% increase in adjusted comparable sales, reaching £4.50 billion (€5.36 billion) during the 12 weeks ending 27 September 2024. Moreover, the company’s annual sales to date rose by 2.7% to £12.97 billion (€15.45 billion). However, the global volume remained static, while in Europe, it declined by 1.4% to 695 million units. Meanwhile, the year-to-date global volumes slightly increased by 0.4%, although in Europe, this figure saw a decline of 2.3%.
Despite the fluctuating volume metrics, Coca-Cola Europacific Partners maintained its full-year profit and cash projections. Chief Executive Damian Gammell regarded the year’s performance as ‘solid,’ acknowledging the ‘softer volumes in Europe,’ which were impacted by adverse weather conditions and decreasing consumer demand. ‘In the third quarter, we delivered top-line growth despite mixed summer weather and softer consumer demand in away-from-home in Europe,’ Gammell stated.
The company’s growth was bolstered by significant events like the UEFA Euros and the Olympics, which supported underlying volume growth. Gammell explained that their focus on revenue growth management and strategic pricing and promotion across their product offerings contributed to revenue per unit case increases. This strategic approach ensures the products stay relevant to consumers while fostering profitable revenue growth.
Looking forward, Coca-Cola Europacific appears to be well-positioned for 2025, with confidence in meeting its medium-term growth aims. This comes on the heels of Coca-Cola Hellenic Bottling Company (HBC) reporting strong sales growth in its third quarter and uplifting its full-year forecast.
Coca-Cola Europacific Partners has demonstrated resilience and strategic agility in the face of external market pressures, with a steady increase in sales despite challenges. Their strategic initiatives and market adaptability position them strongly as they look towards continued growth in 2025.
