Coca-Cola Europacific's quarterly revenue falls on soft demand in Indonesia, Europe

Reuters
04-29
Coca-Cola Europacific's quarterly revenue falls on soft demand in Indonesia, Europe

April 29 (Reuters) - Coca-Cola Europacific Partners CCEP.O, a bottling unit of beverage giant Coca-Cola KO.N, reported a fall in its first-quarter revenue on Tuesday, hurt by weakness in demand in some European regions and Indonesia.

Consumers in Indonesia, a Muslim-majority country, have been pulling back from multinational brands in response to the crisis in the Middle East. The reported quarter also saw an impact from the Easter holiday shifting into April.

For the quarter ended March 28, Coca-Cola Europacific's adjusted comparable revenue fell 0.9% to 4.69 billion euros ($5.33 billion).

The company, which bottles Coca-Cola, Fanta, Sprite and Monster in Western Europe, Australia and New Zealand, said removing of juice brand Capri Sun impacted growth in Europe, where comparable volumes fell 2.1%.

It, however, reaffirmed its fiscal 2025 adjusted comparable revenue growth of about 4% and comparable operating profit growth of about 7%.

($1 = 0.8793 euros)

(Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Shilpi Majumdar)

((AnanyaMariam.Rajesh@thomsonreuters.com ; X: https://twitter.com/AnanyaMariam;))

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