Coca-Cola Europacific Partners kicked off 2026 with a solid first quarter, reporting revenues of €5,001 billion, up 9,4% at constant exchange rates, driven by rising volumes and a more favorable mix. Sales reached 970 million unit cases (+8,5%), while average revenue per unit rose to €5,29 (+0,8%).
Adjusting for calendar effects—six more days of consumption than in 2025 and an early Easter—comparable volume growth stood at 1,6%, with a balanced contribution from Europe (+1,4%) and Asia-Pacific (+1,9%). This performance reflects improved commercial execution and share gains, in a context that remains challenging on the consumption front.
In geographical detail, Europe remains the main driver with €3,5 billion in revenues (+9,1%), driven by Germany, France, and Northern Europe, while Asia-Pacific grew more moderately to €1,45 billion (+1,1%), penalized by the exit from the distribution of Suntory spirits but supported by markets such as the Philippines and Indonesia.
Across channels, growth was more marked in home consumption (+2,9%) than in out-of-home (+0,7%), with Europe seeing a slight decline in away-from-home sales, offset by the expansion of large formats in the retail channel. This mix also impacted revenue per unit, limiting growth despite price increases.
From a category perspective, energy drinks (+21,3%) saw a strong acceleration, driven by innovation and distribution, while zero-sugar beverages continued their positive trend, with Coca-Cola Zero Sugar posting double-digit growth. Water and sports drinks also saw growth, while ready-to-drink tea and coffee declined.
“Demand reflects both the search for value and the interest in innovation and premiumization,” emphasized CEO Damian Gammell, highlighting how the group continues to invest in technology, artificial intelligence, and production capacity, including the new plant in the Philippines.
Financially, the company confirms its 2026 guidance, with revenue growth expected between 3% and 4% and operating profit growth of around 7%, as well as free cash flow of at least €1,7 billion. Capital expenditure (capex) is also expected to be approximately 5% of revenue and a dividend payout ratio of around 50%.
The group also announced an interim dividend of 0,82 euros per share, along with the continuation of its share buyback plan of up to 1 billion euros, confirming a strategy aimed at creating value for shareholders.
In a scenario marked by macroeconomic uncertainty and geopolitical tensions, Coca-Cola Europacific Partners is focusing on innovation, pricing, and cost optimization to support growth while strengthening its position in the most dynamic and profitable categories.
