Bottler Coca-Cola Europacific Partners flags cost pressures, keeps outlook

Coca-Cola Europacific Partners Sees Cost Pressures But Keeps 2023 Outlook

Financial Performance and Cost Management Overview

Cost Pressures Amid Geopolitical Tensions

Nov 3 (Reuters) - Bottling firm Coca-Cola Europacific Partners on Tuesday flagged cost pressures from ongoing geopolitical tensions, but said its business remains resilient thanks to pricing, tight spending controls and productivity gains.

Impact on Shares and Operating Costs

• Shares of the company, a bottler for Coca-Cola's beverages across Western Europe, Australia, New Zealand and parts of Asia-Pacific, were down 2.5% in early trade

• The company did not provide details on how its operating costs were affected or by how much, but left its full-year outlook unchanged

Global Economic Factors

• The Iran war has driven up energy, raw material and freight costs and pressured businesses globally

• The company said it had hedged more than 95% of its commodity requirements for 2026

Revenue Growth and Strategic Initiatives

• Its third-quarter revenue rose 6.5% to €5.76 billion ($6.45 billion), supported by a 3.5% increase in volumes, driven by demand for zero-sugar, energy and hydration drinks

Future Outlook and CEO Statement

• "We are well prepared for 2027 with great opportunities to excite consumers, grow value for customers and create value for shareholders," CEO Damian Gammell said in a statement

Currency Exchange Rate

($1 = 0.8937 euros)

(Reporting by Nithyashree R B in Bengaluru; Editing by Subhranshu Sahu)