In a third-quarter financial statement today, CCEP posted revenues up 2.4% to €5.4bn, with volumes down 1.4% across Europe and revenues flat in the territory.
“2024 continues to be a solid year for CCEP,” said CCEP CEO Damian Gammell. “We’ve grown volume and revenue year-on-year, and share ahead of the market. Our geographic diversification means we are more robust with APS, led by the Philippines, offsetting softer volumes in Europe.”
The business delivered more revenue growth across its key markets year-to-date for its retail customers than its competitors did, it claimed.
Some Q3 sales down
Europe’s sales dip was partly due to the delisting of the Capri Sun brand in the territory, the report said.
Sales in Germany, Great Britain and Iberia were up year-to-date and for the quarter:
- Germany: Q3 +3%
- Great Britain: Q3 +1.6%
- Iberia: Q3 +2.1%
The Coca-Cola brand delivered flat sales for the quarter of +0.4%, with a 1.3% rise for the year.
Flavours and mixers sales were flatter still at 0%, though water, sports drinks, RTD, tea & coffee, were up 3.1% for the quarter, and 1.6% on the year.
What drove CCEP’s Q3 sales?
The Philippines drove CCEP’s water sales, driving up sales that would have struggled as a result of poor summer weather.
Sports drinks, through Powerade, were up 0.7%, as consumers continue to move towards the category, with NPD driving additional uptake.
Energy drink sales were also up 4.5%, driven by Monster, and on top of a strong Q3 in the previous year.
“We are well placed for 2025 and beyond,” said Gammell. “We continue to invest for the long-term and are confident that we have the right strategy, done sustainably, to deliver on our mid-term growth objectives.”
