Coca-Cola Europacific 1Q Revenue Fell on Volume Drop
11 Maggio 2021 - 9:23AM
Dow Jones News
By Joe Hoppe
Coca-Cola Europacific Partners PLC said Tuesday that revenue for
the first quarter fell because of pandemic-driven declines in
volume, but conditions improved during the period.
The London-listed beverage company said revenue fell 7.5% from a
year earlier to 2.29 billion euros ($2.78 billion) on the back of
lower volume sales. Revenue per unit fell to EUR4.70 from EUR4.77
on adverse pack-and-channel mix, it said.
Coca-Cola Europacific said that while the timing of the pandemic
recovery is unknown, the company is optimistic. While first-quarter
conditions were challenging in Europe, the company said it is
encouraged by a trend of improvement, particularly in Great
Britain.
The company said it will declare a dividend for the full year in
the third quarter, to reflect the earnings of the enlarged company
after its acquisition Monday of Coca-Cola Amatil. Fiscal 2021
guidance remains suspended given pandemic-driven uncertainty, it
said.
"Early and decisive in-market actions taken by our colleagues,
our disciplined investments in the longer term and our focus on
driving efficiencies throughout our business, collectively ensure
we will emerge stronger than before," Chief Executive Damian
Gammell said.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
May 11, 2021 03:08 ET (07:08 GMT)
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