Coca-Cola Europacific Partners, the largest Coca-Cola bottler in the world, has managed to avoid the impact of rising production costs and inflation. The company led by Sol Daurella has earned 9.5% more in 2023, up to €1,669 million, as reported this Friday to the National Securities Market Commission (CNMV). A good result that has led it to announce a record dividend.
For the year as a whole, Coca-Cola Europacific Partners improved its income, with turnover of 18,302 million euros. This represents 5.5% more compared to the 17,320 million in fiscal year 2022. The company attributes this progress to an increase in efficiency and the effort to offset costs. In this sense, it has highlighted that it plans to distribute among its shareholders a dividend in the amount of 1.84 euros per share, which again represents a historic figure, and a growth of 9.5% compared to 2022, when It amounted to 1.68 euros per title.
The CEO of Coca-Cola Europacific Partners, Damian Gammell, has assured that the company is “well placed” for this year “and the following ones”, given that they are “stronger and better, more diverse and solid.”
“We remain confident in the future and continue to invest for the long term. A record dividend in fiscal 2023 and our recent inclusion in the Nasdaq 100, together with our guidance for this year, demonstrate the strength of our business and our ability to continue contributing value to shareholders,” said Gammell.
The multinational has also confirmed that it has completed the acquisition of the Philippine bottler Coca-Cola Beverages Philippines. The operation, announced in August last year, is valued at around 1,670 million euros. CoCa-Cola Europacific Partners controls 60% of the Philippine company, while the other 40% will be in the hands of Aboitiz Equity Ventures (AEV).
In Iberia (Spain, Portugal and Andorra), revenues for the year as a whole reached 3,325 million euros, 9.5% more, while in the last quarter they stood at 755 million euros, 9% higher.
Looking ahead to this year’s forecasts, Coca-Cola Europacific Partners has explained that it expects to record an increase of around 7% in its comparable operating profit, which is “in line” with the company’s medium-term objectives.
“Fiscal year 2024 will be supported by the first year of the next efficiency program of between 350 and 400 million euros, which will be implemented at the end of fiscal year 2028. Between 60 and 70 million euros are expected to be implemented euros in this year’s fiscal year,” the company detailed.
