H1 2024 Financial Results

Today we published our financial results for the first half of 2024. We are pleased to have delivered another solid performance, thanks to our great brands, great people and great execution.

We continue to create value for our customers, delivering revenue growth and value share gains both in-store and online. Our Australia, Pacific and Southeast Asia business unit saw strong volume growth – adjusted comparable volume grew 7.5% vs 2023 in the region. Volume declined in Europe (-2.8%) reflecting great in-market execution offset by adverse weather, strategic de-listings and a strong H1 last year.

Thanks to strong consumer demand and great execution across all key markets, our great brands went from strength to strength. Coca-Cola Classic grew 3.0%, and Sprite grew 5.9%. Exciting innovation helped grow our categories, including the sports category that grew 4.8%, and saw the launch of Powerade Golden Mango in some markets.

Hear from our CEO, Damian Gammell, as he reflects on our H1 2024 performance

5 key takeaways

New flavours hit the shelves, including Coca-Cola Zero Sugar Lime in Australia and Relentless Fruit Punch in GB.

Our great brands went from strength to strength. Coca-Cola Classic and Sprite grew by 3% and 5.9%.

We invested €40m in a new production line for refillable glass bottles at our Lüneburg factory in Germany.

Our great people were busy getting our loved drinks in the hands of fans, athletes and staff at the UEFA EUROS 2024 in Germany.

We delivered solid top and bottom line-growth. Revenue and operating profit grew by 3.5% and 9% respectively, on an adjusted comparable and foreign exchange neutral basis.