CCEP · Coca-Cola Europacific Partners PLC

Coca-Cola Europacific Partners delivered a solid start to fiscal 2026, with Q1 reported revenue rising 6.7% to €5,001m and FX-neutral revenue growth of 9.4%. Reported volume increased 8.5% due to six additional consumption days in the quarter; however, on a comparable average daily sales basis, volume grew 1.6%. This growth was balanced across geographies, with Europe up 1.4% and Asia Pacific & Southeast Asia (APS) up 1.9%. Revenue per unit case improved 0.8%, reflecting positive mix, headline pricing, and the exit of the Suntory alcohol distribution business, despite negative pack mix impacts from the growth of large format packs in the Home channel. CEO Damian Gammell highlighted strong execution, share gains, and growth in the Zero Sugar category as key drivers, while noting the consumer environment remains challenging. The company reaffirmed its full-year 2026 guidance, targeting 3-4% revenue growth and approximately 7% operating profit growth on a comparable and FX-neutral basis. Management also declared an interim dividend of €0.82 per share and reported progress on its €1 billion share buyback program, with €500 million completed as of late April. The company continues to invest in growth initiatives, including technology, AI, and a new plant in the Philippines.