**Summary of Coca-Cola Europacific Partners (CCEP) Q3 2025 Trading Update & Interim Dividend Declaration**
**Overview**
CCEP reported solid Q3 2025 performance, reaffirming full-year guidance despite softer consumer demand and macroeconomic challenges. The company highlighted strong execution, brand strength, and strategic partnerships, driving volume growth in Europe and underlying growth in the Asia-Pacific region (APS).
**Key Financial Highlights**
**Revenue**Q3 2025 revenue grew 1.0% to €5.41 billion (FX-neutral: +3.2%)
YTD revenue increased 3.3% to €15.68 billion (FX-neutral: +2.7%).
**Volume**Q3 adjusted comparable volume grew 0.4%
YTD volume increased 0.3%. Europe saw +0.9% growth, while APS declined -0.6% due to challenges in Indonesia and portfolio changes in Australia.
**Revenue per Unit Case**Q3 adjusted comparable revenue per unit case rose 2.7%, driven by pricing, promotional optimization, and pack mix improvements.
**Dividend**Declared a second half interim dividend of €1.25 per share, resulting in a full-year dividend of €2.04, maintaining a ~50% payout ratio.
**Geographic Performance**
**Europe**Revenue grew 3.8% to €4.19 billion (FX-neutral: +4.2%), with strong performance in Great Britain (+5.9%) and France, Benelux, and the Netherlands (FBN, +6.2%). Volume increased 0.9%, led by Coca-Cola Zero Sugar, Sprite, and Monster.
**APS**Revenue declined 7.7% to €1.22 billion (FX-neutral: -0.2%), impacted by the exit of Suntory alcohol distribution in Australia. Excluding this, volumes and revenue grew mid-to-high single digits in Australia/Pacific. Southeast Asia saw a low single-digit decline, with flat volumes in the Philippines and a high single-digit drop in Indonesia.
**Category Performance**
**Coca-Cola®**Volume grew 0.1% in Q3, driven by Coca-Cola Zero Sugar (+6.3%) and Diet Coke stabilization.
**Energy**Volume surged 24.0% in Q3, supported by new launches and strong performance of original variants.
**Water, Sports, RTD Tea & Coffee**Volume declined 1.7% in Q3, with growth in water (+2.4%) offset by declines in RTD tea and coffee (-15.5%).
**Strategic Initiatives & Outlook**
**Growth Drivers**Focus on premiumization, affordability, and partnerships (e.g., English Premier League, Star Wars).
**Sustainability**Progress in collection schemes in APS and maintained A CDP supplier engagement rating.
**FY25 Guidance**Reaffirmed revenue growth of 3-4%, operating profit growth of ~7%, and comparable free cash flow of at least €1.7 billion.
**Shareholder Returns**€1 billion share buyback program ongoing, with ~€809 million completed to date.
**Management Commentary**
CEO Damian Gammell emphasized resilience in a volatile macroeconomic environment, strong execution, and strategic focus on productivity and growth. The company remains confident in its mid-term growth objectives, supported by record investment and a growing dividend.
**Conclusion**
CCEP delivered a resilient Q3 performance, balancing growth with profitability despite external challenges. The company’s strategic focus on brands, execution, and sustainability positions it well for continued success, with reaffirmed guidance and strong shareholder returns.