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06/08/2020 – 08:00
DAMIAN GAMMELL, CEO, SAID:
“This crisis has had an unprecedented effect on our business and the communities we serve across Europe. I thank our colleagues who have worked tirelessly to help our customers, consumers and communities in those difficult times, while protecting long-term fitness from our business.
“We entered the year with a smart boost and I am proud of the resilience of our business and the speed with which we were able to meet the demanding situations we faced when we entered the quarter. We have noticed a decrease in the prompt call from customers for and a closure of outlets on the channel outside the home, however, we have adapted temporarily, with a greater focus on the domestic channel, adding expansion in online and long-term consumption, and I am pleased to continue to gain overall market share. As they begin to reopen and, encouragingly, trade advanced the quarter as restrictions lifted, however, many of our customers continue to operate at reduced capacity and continued intake remains under pressure.
We strive to leverage our strong features to drive strong recovery at the time of the year and are confident of the long duration of our business through an even more powerful virtual and sustainable progression agenda. The pandemic has strengthened our determination to spend more and faster in construction for a longer term larger and greener for our company, for others and for the planet. And as other people evolve in their lifestyle, paintings and shopping, our virtual features will continue to differentiate us. We are progressing at a stable speed and will try to be the online spouse for stores and food delivery platforms, and the simple and effective maximum B2B online spouse for stores and food delivery platforms, and the simple and effective maximum B2B online spouse for our consumers and wholesalers.
“Despite the uncertainty we face today, we continue to take steps to protect our performance, liquidity and our long-term growth plan, all backed up through a strong balance sheet. Our business is based on 3 pillars: wonderful people, fair service and This foundation provides us with the confidence to overcome this crisis, helping society rebuild and recover, and ultimately build a more powerful and more sustainable business in the long run.”
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[1] See the “Note on the Presentation of Alternative Performance Measures” for more details
[2] Unit box: 5678 liters or 24 8-ounce servings
Q2 (-26.0%) [2]
Comparable volume -22.0% [3] driven by the effect of the COVID-19 pandemic on our markets
Immediate intake (IC) and small precedence packets affected (affecting internal and external channels (AFH))
A marked drop in AFH volumes (-50%) reflecting variable lockdown measures
The national channel also had an effect on (-3.5%) due to exposure to CI packages, but compensated through the long-term functionality of customer packages (CCs) (e.g. more giant PET and multiple packing boxes)
Sequential improvement in the volumes of the quarter with the slow lifting of the blocking measures (April -36%; May -26%; June -9%); July volumes online with June
Revenues consistent with money -5.0% [2], [4] reflecting a negative combination of geographic, channel and packages, due to afH closure
First semester (-16.0%) [2]
• NARTD value share gains across measured channels[5]
Comparable volume -14.0% [3] boosted through the second quarter (see above) with some visitor disruption due to our expected pricing strategy offset by innovation (particularly Monster – Fuze Tea)
Revenues consistent with money of -2.0% [2], [4] reflecting a positive boost in T1 (up to 1.5%) reaping benefits from favorable costs and promotions offset up to T2 (see above)
Comparable operating source of income S1 -48.0% [2] (reported operating profit -63.0%)
Cost of sales consistent with the unit’s money – 3.5% [2], [4] reflects the steady decline in production prices in declining volumes, offset by declining profits consistent with the unit’s money resulting in lower prices
Comparable or inconsistent with a revenue source of 398 million euros [6], -48.0% [2] reflecting a decrease in sales and consistency with the cash-consistent sales charge, offset by reduced discretionary spending
Comparable diluted EPS of 0.57 euros [6], -50.0% [2] (published -74.0%)
Other
Dividend: dividend for fiscal year 19 of $1.24 consistently paid in full in 2019. The Commission continues to recognise the importance of money returns for consistent shareholders. Given the uncertainty about the effect of the existing pandemic, the Commission has to defer the revision of the 2020 fiscal dividend, rather than two dividend shares, until the third quarter where visibility will have progressed and in line with the general rates
Share repurchase: repurchase of approximately 130 million euros (3 million shares) of the billion euro programme announced in February 2020 (suspended until more are made as announced in the past)
Sweden has the leading market for one hundred recycled IDS with consistent resistors, eliminating the use of 3,500 tons of virgin plastic according to the year. Launch of the 2020 Long-Term Incentive Plan incorporating the original GHG relief target [7]
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[1] Refer to the “Note on the Presentation of Alternative Performance Measures” for the main [2] Comparable and neutral points in currencies [3] Adjusted for the sale of a day shift. Without quarterly sales in the second quarter, volume H1 reported -14.5% [4] A cash unit is approximately 5,678 liters or 24 8-ounce portions [5] NARTD (non-alcoholic drinking loan) Data from Nielsen w/e IS 14.06 . 20, GB 27.06.20, ES PT DE FR BE NL SE – NO 28.06.20 [6] Comparable [7] GHG – greenhouse fuels; Will 15% of the 2020 long-term incentive premium be based on the extent to which CCEP will reduce its greenhouse fuel emissions over the next 3 years? Note: Comparisons are with the 2019 era.
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