Coca-Cola Europacific Partners PLC on Tuesday said it performed broadly as expected in its first financial quarter, while it expects to post an annual operating profit growth amid slowing revenue growth.
The Uxbridge, London-based bottling company and beverage distributor for Coca-Cola Co in 31 European and Asian-Pacific countries said revenue rose 5.0% to €4.69 billion in the first quarter ended March 28, from €4.47 billion a year ago.
The company said revenue in Germany fell 2.8% on-year in the first quarter to €686 million, however in Great Britain it climbed 4.8% to €759 million.
Coca-Cola EP announced a first half interim dividend of 79 euro cents per share, up 6.8% from 74c a year ago.
Looking ahead, the company expects operating profit growth of around 7% for financial 2025, which would be a reversal from an 8.8% decline in operating profit in 2024, to €2.13 billion from €2.34 billion in 2023.
However, annual revenue growth is expected to slow to around 4% in financial 2025. For 2024, Coca-Cola EP had reported a 12% revenue climb to €20.44 billion from €18.30 billion in 2023.
Chief Executive Officer Damian Gammell said: ‘We operate in resilient and growing categories, supported by the strength of our relationships with our brand partners and customers across our diverse geographies. We’re excited about the rest of the year, and I’m pleased to be reaffirming our full year guidance, with an exciting pipeline of portfolio innovation and planned activation still to come.’
He added: ‘We are confident we have the right strategy, done sustainably to deliver on our mid-term growth objectives. And we look forward to sharing more on our exciting future at our capital markets event in Manila next month.’
Coca-Cola EP shares were 0.6% higher at 6,610.00 pence each on Tuesday morning in London.
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