Energy drinks boost CCEP earnings

Energy drinks are driving growth at Coca-Cola European Partners (CCEP), with a reported volume increase of 17 per cent in the first half of this year. 

New in 2019 is Coca Cola Energy to CCEP’s range of energy drinks, which also includes Monster’s Mango Loco and Relentless. The company also plans to introduce more functional products such as Aquarius, a water brand that contains zinc and magnesium to reduce tiredness and fatigue and boost cognitive function.    

CCEP reported sales were up 7 per cent to E5,802 million ($6,509m), a figure that was hampered due to the impact of soft drinks tax charges. Sales of smaller cans rose by 17 per cent, which also boosted overall sales.

“We have delivered a good first-half performance, reflecting our continued focus on driving profitable revenue growth through price and mix realisation and solid in market execution, alongside the successful closure of our merger commitments,” said Damian Gammell, CCEP chief executive. 

He added that CCEP remains “focused on building this momentum, albeit following a strong third quarter last year, including scaling up on some of our exciting innovations like Coke Energy and the recently launched Costa ready-to-drink coffee in Great Britain.”

Following the announcement of its first half results, CCEP has reaffirmed its full-year guidance for 2019. “We remain confident in our annual growth objectives over the mid-term,” reported Gammell.