Coca-Cola Europacific Partners cuts annual sales forecast on weak Europe demand

Reuters
2024-11-05

Nov 5 (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)

((AnanyaMariam.Rajesh@thomsonreuters.com ; X: ))

免责声明:投资有风险,本文并非投资建议,以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请,作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考,不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证,投资者应自行研究并在投资前寻求专业建议。

热议股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10