Business
Coca-Cola Europacific Partners cuts annual sales forecast on weak Europe demand
Published by Jessica Weisman-Pitts
Posted on November 5, 2024
2 min readLast updated: January 29, 2026
Global Banking & Finance Review®
Company
Published by Jessica Weisman-Pitts
Posted on November 5, 2024
2 min readLast updated: January 29, 2026
(Reuters) – Coca-Cola Europacific Partners, a bottling unit of Coca-Cola, lowered its annual sales forecast on Tuesday in response to reduced demand for beverages in Europe, as well as weakness in Indonesia linked to the Middle East conflict.
(Reuters) – Coca-Cola Europacific Partners, a bottling unit of Coca-Cola, lowered its annual sales forecast on Tuesday in response to reduced demand for beverages in Europe, as well as weakness in Indonesia linked to the Middle East conflict.
Although demand for sodas has remained resilient, customers from lower income groups are becoming more cautious and opting to eat at home rather than dining out, hurting volumes of Coca-Cola Europacific Partners.
The company bottles Coca-Cola, Fanta, Sprite and Monster in Western Europe, Australia and New Zealand and sells drinks to fast-food chains including McDonald’s and KFC-owner Yum Brands, as part of combo meals.
In Europe, however, volumes declined 1.4% in the third quarter, compared to a 4% fall in the previous quarter. The smaller drop was a result of a boost from consumers spending at music festivals and sporting events such as the Euro 2024 Football Championship and the Paris Olympics.
Volumes in Southeast Asia were impacted by weakness in Indonesia, a Muslim-majority country, mainly arising from a boycott of multinational brands in response to the crisis in the Middle East.
The company’s adjusted revenue rose 2.4% to 5.36 billion euros ($5.84 billion) in the third quarter. Overall comparable volumes rose 19.1%, while revenue per unit case was 5.32 euros.
Coca-Cola Europacific Partners expects its annual comparable revenue to rise about 3.5%, compared with a prior forecast of about 4% growth.
In October, Coca-Cola forecast its annual sales to grow 10% as growing demand for its higher-priced sodas and juices in the U.S. helped it post a surprise rise in third-quarter sales.
($1 = 0.9181 euros)
(Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Pooja Desai)
Adjusted revenue refers to a company's revenue that has been modified to exclude certain items, such as one-time gains or losses, providing a clearer picture of ongoing operational performance.
Comparable volumes refer to the measurement of sales or production volumes that can be compared across different periods, allowing for a more accurate assessment of performance over time.
Market demand refers to the total quantity of a product or service that consumers are willing and able to purchase at various prices during a given time period.
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