By Michael Susin
Coca-Cola Europacific Partners said it expects annual growth to be in line with its medium-term targets, and launched a 1 billion-euro ($1.05 billion) share buyback.
The bottling company on Friday said revenue is expected to grow around 4% in 2025, with operating profit growth of 7% amid broadly flat commodity inflation.
The new guidance, set after a positive performance in 2024, comes along with a share buyback program of up to 1 billion euros over next 12 months and a dividend of 1.97 a share.
"We are well placed for 2025 and beyond in categories that are growing, with strong investment and commercial plans in place to drive growth. We are confident that we have the right strategy, done sustainably to deliver on our mid-term growth objectives," Chief Executive Damian Gammell said.
For 2024, CCEP reported a pretax profit drop to 1.94 billion euros from 2.20 billion euros a year earlier.
Revenue increased nearly 12%, driven by the Australia-Pacific region while Europe performance lagged.
Operating profit fell nearly 9% to 2.13 billion euros, reflecting higher concentrate costs, production inflation in manufacturing and consumption tax increases driven by the Netherlands. On an adjusted basis--which strips out exceptional and other one-off items--operating profit rose 8% to 2.67 billion euros, reflecting cost-saving actions.
Write to Michael Susin at michael.susin@wsj.com
(END) Dow Jones Newswires
February 14, 2025 02:55 ET (07:55 GMT)
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