Coca-Cola European Partners (CCEP) has reported revenues of €2.4bn for the first quarter 2018 ending 30 March 2018, described as “flat” compared to the previous year.
The company reported an increase in cost of sales of €1.5bn as well as gross profit of €1.49bn, although the company’s operating profit decreased by 12.5% to €187m.
CCEP chief executive officer Damian Gammell said: “Our first-quarter results reflect our continued focus on improving our in-market execution and driving profitable revenue growth through strong price and mix realisation.
“While pleased with our overall performance, volume growth was impacted during the quarter by unfavourable weather, customer challenges, and the effect of some of our brand realignment decisions.”
The company also reported diluted earnings per share of €0.25 for the first quarter 2018, while operating expenses stood at €700m.
On brand basis, volumes for sparkling brands decreased by 1% and Coca-Cola trademark brands decreased by 2%, while Coca-Cola Zero Sugar reported a growth of 8.5%. Sparkling flavours and energy brands increased by 1%.
Gammell added: “We remain confident that we are making the right strategic decisions for the long term and this is reflected in our 2018 outlook, which we have affirmed today. To achieve this outlook, we are focused on executing our plans over the key summer selling season while navigating through a dynamic trading environment.”
CCEP is an independent Coca-Cola bottler for Western Europe, which makes, distributes and sells non-alcoholic ready-to-drink beverages.
The company currently serves more than 300 million customers across Andorra, Belgium, continental France, Germany, Great Britain, Iceland, Luxembourg, Monaco, the Netherlands, Norway, Portugal, Spain and Sweden.