CCEP sees annual revenue rise to £9.85bn

Coca-Cola European Partners plc (CCEP) has today announced preliminary unaudited results for the fourth-quarter and full-year ended 31 December 2017, and provided full-year 2018 outlook.

Full-year reported revenue came to £9.85bn up 21%, or up 3% on a comparable and fx-neutral basis. Volume was up 0.5% on a comparable basis. Operating profit stood at £1.15bn, or £1.33bn on a comparable basis, up 9%, or up 10.5% on a comparable and fx-neutral basis.

CEO Damian Gammell said, “In our first full year as Coca-Cola European Partners, we have started to realise the growth opportunities created by the merger and, importantly, modestly exceeded our initial guidance for revenue, operating profit, diluted earnings per share, and free cash flow.

“Looking ahead, our journey continues in 2018 as we further expand our portfolio, build on our commercial capabilities, and continue to invest in our business to better serve our customers and improve in-market execution.

'Though we face some headwinds in 2018, we remain confident that our focus on driving profitable growth and managing costs will strengthen our business for the long term.