Skip to main content
23 Feb 2022

Coca-Cola UK business doubles profits for year

Coca-Cola UK business doubles profits for year

The Coca-Cola bottling business for the UK and Europe has almost doubled its profits for the past year after it was boosted by the reopening of hospitality and acquisitions. Coca-Cola Europacific Partners (CCEP) saw a 98.5% rise in profits after tax to £828.5 million for 2021, compared with the previous year. 

Adding to this, revenues increased by 30% for the year, significantly driven by its acquisition of Australian bottling business Coca-Cola Amatil. The company rebranded from Coca-Cola European Partners after it snapped up the Australian arm in May 2021. 

Coca-Cola also mentioned like-for-like sales were up 4.5% on 2020 levels as customers bought more drinks outside of their homes, following the reopening of pubs, restaurants and bars. Nevertheless, the company said this remained 5.5% below pre-pandemic levels from 2019.

In Great Britain, the business said sales of Coca-Cola, Fanta and Monster all reported growth on pre-pandemic levels as they benefited from strong retail sales as well as a rebound from hospitality. 

Damian Gammell, chief executive officer, said: "2021 was an extraordinary year for CCEP.

"We are a stronger, more diverse business, built on great people, great service and great beverages - done sustainably.

"Solid top-line recovery, value share gains, operating margin expansion and remarkable free cash flow generation demonstrate our strong performance in a challenging environment.

"Our results also reflect the successful acquisition and integration of Coca-Cola Amatil, a fantastic business to have acquired at the right time, as we look forward to an even brighter future together."

The group said it is "well-placed" for 2022 and expects a recovery in sales volumes to continue over the short term. 

View all Blog Library
Loading

Sign up to our Miami Masterclasses!

Masterclasses Miami

Sign up to our Miami masterclasses today!

They take place on the 6th & 7th of March at The Miami Beach Convention Center.

It's FREE to attend!

 

REGISTER FOR THEM HERE!