In today’s third-quarter financial report, CCEP announced a 2.4% increase in revenues, reaching €5.4bn. However, volumes across Europe decreased by 1.4%, and revenues remained flat within the region.
“2024 continues to be a solid year for CCEP,” stated CCEP CEO Damian Gammell. “We’ve grown volume and revenue year-on-year and gained market share. Our geographic diversification enhances our resilience, with the Philippine market offsetting weaker volumes in Europe.”
The company reports stronger revenue growth for its retail customers compared to competitors across key markets this year, highlighting its position in the food and beverage industry trends.
Some Q3 sales show decline
The report indicated that the sales decline in Europe was partly attributed to the delisting of the Capri Sun brand in the region.
Sales for the year-to-date in Germany, Great Britain, and Iberia showed positive growth for the quarter, specifically:
- Germany: Q3 +3%
- Great Britain: Q3 +1.6%
- Iberia: Q3 +2.1%
The Coca-Cola brand experienced flat sales, achieving a slight increase of 0.4% for the quarter, with a year-to-date rise of 1.3%. Meanwhile, sales for flavours and mixers remained stagnant at 0%. Conversely, categories such as water, sports drinks, ready-to-drink tea, and coffee grew by 3.1% for the quarter, resulting in a 1.6% annual increase.
What influenced CCEP’s Q3 sales?
CCEP’s water sales in the Philippines played a pivotal role, significantly boosting overall sales despite challenges posed by less than favorable summer weather.
Sales for sports drinks, particularly through Powerade, increased by 0.7%, reflecting a sustained consumer shift toward this category, with new product developments promoting further growth.
Furthermore, energy drink sales surged by 4.5%, largely driven by the Monster brand, building upon last year’s strong Q3 performance.
“We are well placed for 2025 and beyond,” Gammell emphasized. “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.”
