Turnover for Coca-Cola European Partners, the soda manufacturer’s European division, soared above 11 billion euro in 2017. Its profit also spiked compared to the year before.
“Merger synergies”
Coca-Cola European Partners’ 2017 turnover grew 21 % to 11.1 billion euro, which represents a 3 % like-for-like growth and a 0.5 % like-for-like volume growth. Operational profit reached 1.3 billion euro, up 9 % compared to the year before. Exchange rates had a slight negative effect on its profit, because otherwise, it would have been able to publish a 10.5 % profit growth. “We have seen the first merger synergy advantages in our first full year and we have surpassed our own targets, both in turnover and profit”, CEO Damian Gammell said.
For 2018, the soda manufacturer forecast another 6 to 7 % growth and it also wants to cut between 315 and 340 million euro in costs before mid-2019 thanks to synergies from the merger of three major European bottling plants, which took place in 2016. “Despite an expected headwind in 2018, we are confident that our focus on profitable growth and cost-cutting measures will strengthen our company in the future.”
