Coca-Cola Europacific Partners plc

11/26/2024 | Press release | Distributed by Public on 11/26/2024 09:03

Investing to go even further for customers, consumers and colleagues

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Investing to go even further for customers, consumers and colleagues

26/11/2024

We make, move and sell the world's most loved drinks. And our world famous brands - like Coca-Cola, Sprite, Fanta and Monster Energy - lead the growing soft drinks category.

Every year, we invest to grow the category and grow our business. 2024 is no exception. This year we plan to invest around €1 billion. Each investment is focused on one of two goals:

  • Be the best partner for our customers, serving them even better
  • Deliver sustainable growth, in line with our This is Forward sustainability action plan

It's also a core part of our focus on creating value for CCEP and our shareholders.

Here are some of the highlights from the year so far.

  • Customer service and execution
  • Supporting sustainability progress
Customer service and execution

Consumers across our 31 markets love our drinks. So we're investing to make sure we're keeping up with demand. That means new production lines at our factories in Great Britain, Germany, Papua New Guinea, Indonesia, Australia and New Zealand. Consumers want a mix of products, and these new lines will make everything from cans, to returnable glass bottles, refillable plastic bottles and glass bottles.

We're using the latest technology to improve how we plan product promotions with our customers. The technology helps us see what's working best and create even more value for our customers.

Investing in our logistics network, to get our products to customers on time, every time. Work continues on our Automated Storage and Retrieval System (ASRS) in Wakefield, GB. The ASRS is a smart warehouse, with products quickly and safely moved from storage on to trucks to be delivered.

One of our most significant ongoing projects is transforming our Grigny site in France. With an investment of €146 million, we are increasing capacity while modernising and revamping the entire site and building a new warehouse. These changes will help us produce and distribute more of the great drinks our consumers in France love.

We're also investing €120 million to maintain or upgrade our factories to keep them reliably, efficiently and sustainably making our great drinks.

We're spending nearly €200 million this year on technology which we will help us simplify and standardise processes across the business. That investment means we have more time and resource to focus on what matters most - delivering for our customers.

Around €150 million will also go toward growing and modernising our coolers and vending machines across our markets. Coolers play a vital role in ensuring consumers can enjoy their favourite drinks cold and that our drinks are always available.

We're also investing in the newest part of the business - our Philippines business unit, including two new PET lines.

The Philippines is already an important market for CCEP, and we're investing in our supply chain in the country to cater for consumer demand and grow the business even further.

Supporting sustainability progress

When it comes to packaging, we're focused on three steps: reduce, reuse, recycle.

On reuse, we're investing nearly €140 million in returnable packaging across the Philippines, Germany, Iberia, France and in Northern Europe.

And on packaging reduction, our Wakefield factory is replacing plastic shrink wrap for multipacks with cardboard packs, and we're making this transition across all of our European markets over the next three years.

We also continue to invest in technology that could help make our operations more sustainable in the long term.

Through CCEP Ventures, we're investing in the following solutions:

  • Advanced chemistry and manufacturing processes to convert sugar-rich wastewater into a continuous supply of renewable electricity with Pipeline Organics
  • Carbon Capture to allow CCEP to use the CO2 captured to replace fossil fuel derived carbon dioxide in our drinks with Airhive
  • Identifying water specialists and entrepreneurs capable of developing and scaling novel technologies to tackle water stress with Deep Science Ventures

In addition to these capital expenditure plans, we have continued to invest in the development of our talented people in 2024:

  • Our bespoke learning academies - The Way We Lead, Sell and Serve - have been developed to grow our leadership, commercial and customer service and supply chain capabilities for the future
  • Digital development tools like our Career Hub, which uses artificial intelligence to help colleagues identify progression opportunities, get experience and grow in their career
  • Internships, apprenticeships, and graduate programmes to help young people gain employment, skills and confidence

We're not stopping there. We're already building our plans for investing further in 2025 and beyond.

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