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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Coca-Cola European Partners Plc Ordinary Shares (delisted) | NYSE:CCE | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 46.72 | 0 | 01:00:00 |
•
|
REGISTRATION STATEMENT ON FORM F-3 OF COCA-COLA EUROPEAN PARTNERS PLC (REGISTRATION NO. 333-219945);
|
•
|
POST-EFFECTIVE AMENDMENT NO.1 ON FORM S-8 TO THE FORM F-4 REGISTRATION STATEMENT OF COCA-COLA EUROPEAN PARTNERS PLC (REGISTRATION NO. 333-208556); AND
|
•
|
REGISTRATION STATEMENT ON FORM S-8 OF COCA-COLA EUROPEAN PARTNERS PLC (REGISTRATION NO. 333-211764),
|
|
P a g e |
1
|
|
|
Note Regarding the Presentation of Alternative Performance Measures
|
Key Financial Measures
Unaudited, fx impact calculated by recasting current year results at prior year rates
|
Third-Quarter ended 28 September 2018
|
|||||||||||||||||||
€ million
|
|
% change
|
||||||||||||||||||
As Reported
|
|
Comparable
|
|
Fx-Impact
|
|
As Reported
|
|
Comparable
|
|
Fx-Impact
|
|
Comparable Fx-Neutral
|
||||||||
Revenue
|
3,289
|
|
|
3,289
|
|
|
(9
|
)
|
|
11.0
|
%
|
|
11.0
|
%
|
|
(0.5
|
)%
|
|
11.5
|
%
|
Cost of sales
|
1,985
|
|
|
1,989
|
|
|
(5
|
)
|
|
12.0
|
%
|
|
12.5
|
%
|
|
—
|
%
|
|
12.5
|
%
|
Operating expenses
|
803
|
|
|
779
|
|
|
(1
|
)
|
|
5.0
|
%
|
|
7.5
|
%
|
|
—
|
%
|
|
7.5
|
%
|
Operating profit
|
501
|
|
|
521
|
|
|
(3
|
)
|
|
17.5
|
%
|
|
11.0
|
%
|
|
(0.5
|
)%
|
|
11.5
|
%
|
Profit after taxes
|
358
|
|
|
371
|
|
|
(2
|
)
|
|
18.0
|
%
|
|
11.5
|
%
|
|
(1.0
|
)%
|
|
12.5
|
%
|
Diluted earnings per share (€)
|
0.73
|
|
|
0.76
|
|
|
—
|
|
|
18.0
|
%
|
|
11.5
|
%
|
|
—
|
%
|
|
11.5
|
%
|
Key Financial Measures
Unaudited, fx impact calculated by recasting current year results at prior year rates
|
Nine months ended 28 September 2018
|
|||||||||||||||||||
€ million
|
|
% change
|
||||||||||||||||||
As Reported
|
|
Comparable
|
|
Fx-Impact
|
|
As Reported
|
|
Comparable
|
|
Fx-Impact
|
|
Comparable Fx-Neutral
|
||||||||
Revenue
|
8,724
|
|
|
8,724
|
|
|
(53
|
)
|
|
4.0
|
%
|
|
4.0
|
%
|
|
(0.5
|
)%
|
|
4.5
|
%
|
Cost of sales
|
5,326
|
|
|
5,302
|
|
|
(33
|
)
|
|
4.5
|
%
|
|
3.5
|
%
|
|
(0.5
|
)%
|
|
4.0
|
%
|
Operating expenses
|
2,292
|
|
|
2,202
|
|
|
(14
|
)
|
|
2.0
|
%
|
|
3.0
|
%
|
|
(1.0
|
)%
|
|
4.0
|
%
|
Operating profit
|
1,106
|
|
|
1,220
|
|
|
(6
|
)
|
|
4.0
|
%
|
|
7.5
|
%
|
|
(0.5
|
)%
|
|
8.0
|
%
|
Profit after taxes
|
775
|
|
|
860
|
|
|
(4
|
)
|
|
3.5
|
%
|
|
8.0
|
%
|
|
(0.5
|
)%
|
|
8.5
|
%
|
Diluted earnings per share (€)
|
1.58
|
|
|
1.76
|
|
|
—
|
|
|
3.5
|
%
|
|
8.0
|
%
|
|
—
|
%
|
|
8.0
|
%
|
|
P a g e |
2
|
|
|
Operational Review
|
|
P a g e |
3
|
|
|
Outlook
|
Dividends
|
Change Of Ticker Symbol From “CCE” to “CCEP”
|
|
P a g e |
4
|
|
|
Appointment Of Joint House Brokers
|
|
P a g e |
5
|
|
|
Forward-Looking Statements
|
|
P a g e |
6
|
|
|
Supplementary Financial Information - Income Statement
|
Third-quarter 2018
Unaudited, in millions of € except per share data which is calculated prior to rounding
|
As Reported
|
|
Items Impacting Comparability
|
|
Comparable
|
|||||
CCEP
|
|
Mark-to-market effects
[1]
|
Restructuring Charges
[2]
|
|
CCEP
|
|||||
Revenue
|
3,289
|
|
|
—
|
|
—
|
|
|
3,289
|
|
Cost of sales
|
1,985
|
|
|
—
|
|
4
|
|
|
1,989
|
|
Gross profit
|
1,304
|
|
|
—
|
|
(4
|
)
|
|
1,300
|
|
Operating expenses
|
803
|
|
|
2
|
|
(26
|
)
|
|
779
|
|
Operating profit
|
501
|
|
|
(2
|
)
|
22
|
|
|
521
|
|
Total finance costs, net
|
23
|
|
|
—
|
|
—
|
|
|
23
|
|
Non-operating items
|
—
|
|
|
—
|
|
—
|
|
|
—
|
|
Profit before taxes
|
478
|
|
|
(2
|
)
|
22
|
|
|
498
|
|
Taxes
|
120
|
|
|
—
|
|
7
|
|
|
127
|
|
Profit after taxes
|
358
|
|
|
(2
|
)
|
15
|
|
|
371
|
|
|
|
|
|
|
|
|
||||
Diluted earnings per share (€)
|
0.73
|
|
|
—
|
|
0.03
|
|
|
0.76
|
|
|
|
|
||||||||
Diluted weighted average common shares outstanding
|
490
|
|
Third-quarter 2017
Unaudited, in millions of € except per share data which is calculated prior to rounding
|
As Reported
|
|
Items Impacting Comparability
|
|
Comparable
|
|||||||||||
CCEP
|
|
Merger
effects
[4]
|
Mark-to-market effects
[1]
|
Restructuring Charges
[2]
|
Merger related costs
[3]
|
Litigation provision
[5]
|
|
CCEP
|
||||||||
Revenue
|
2,964
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
2,964
|
|
Cost of sales
|
1,774
|
|
|
2
|
|
1
|
|
(7
|
)
|
—
|
|
—
|
|
|
1,770
|
|
Gross profit
|
1,190
|
|
|
(2
|
)
|
(1
|
)
|
7
|
|
—
|
|
—
|
|
|
1,194
|
|
Operating expenses
|
763
|
|
|
(1
|
)
|
3
|
|
(34
|
)
|
(1
|
)
|
(5
|
)
|
|
725
|
|
Operating profit
|
427
|
|
|
(1
|
)
|
(4
|
)
|
41
|
|
1
|
|
5
|
|
|
469
|
|
Total finance costs, net
|
28
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
(1
|
)
|
|
27
|
|
Non-operating items
|
2
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
2
|
|
Profit before taxes
|
397
|
|
|
(1
|
)
|
(4
|
)
|
41
|
|
1
|
|
6
|
|
|
440
|
|
Taxes
|
93
|
|
|
—
|
|
—
|
|
14
|
|
—
|
|
1
|
|
|
108
|
|
Profit after taxes
|
304
|
|
|
(1
|
)
|
(4
|
)
|
27
|
|
1
|
|
5
|
|
|
332
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Diluted earnings per share (€)
|
0.62
|
|
|
—
|
|
(0.01
|
)
|
0.06
|
|
—
|
|
0.01
|
|
|
0.68
|
|
|
|
|
||||||||||||||
Diluted weighted average common shares outstanding
|
|
|
489
|
|
[1]
|
Amounts represent the net out-of-period mark-to-market impact of non-designated commodity hedges.
|
[2]
|
Amounts represent restructuring charges related to business transformation activities.
|
[3]
|
Amounts represent costs associated with the Merger to form CCEP.
|
[4]
|
Adjustments to reflect final acquisition accounting related adjustments and associated impacts.
|
[5]
|
Amount represents a provision recorded for ongoing litigation.
|
|
P a g e |
7
|
|
|
|
P a g e |
8
|
|
|
Supplemental Financial Information - Revenue
|
Revenue
In millions of €, except per case data which is calculated prior to rounding
|
Third-quarter ended
|
|
Nine months ended
|
||||||||||
28 September 2018
|
29 September 2017
|
% Change
|
|
28 September 2018
|
29 September 2017
|
% Change
|
|||||||
As reported
|
3,289
|
|
2,964
|
|
11.0
|
%
|
|
8,724
|
|
8,400
|
|
4.0
|
%
|
Adjust: Total items impacting comparability
|
—
|
|
—
|
|
—
|
%
|
|
—
|
|
(7
|
)
|
—
|
%
|
Comparable
[1]
|
3,289
|
|
2,964
|
|
11.0
|
%
|
|
8,724
|
|
8,393
|
|
4.0
|
%
|
Adjust: Impact of fx changes
|
9
|
|
n/a
|
|
(0.5
|
)%
|
|
53
|
|
n/a
|
|
(0.5
|
)%
|
Comparable & fx-neutral
|
3,298
|
|
2,964
|
|
11.5
|
%
|
|
8,777
|
|
8,393
|
|
4.5
|
%
|
|
|
|
|
|
|
|
|
||||||
Revenue per unit case
[2]
|
4.69
|
|
4.43
|
|
6.0
|
%
|
|
4.64
|
|
4.41
|
|
5.0
|
%
|
[1]
|
The change in revenue includes the impact of
2018
incremental sugar and excise taxes in Belgium, France, Great Britain and Norway of
3.0%
and
2.0%
for the
third-quarter
and
nine months
ended 28 September
2018
, respectively.
|
[2]
|
The change in revenue per unit case includes the impact of
2018
incremental sugar and excise taxes in Belgium, France, Great Britain and Norway of
3.0%
and
2.0%
for the
third-quarter
and
nine months
ended 28 September
2018
, respectively.
|
Revenue by Geography
Comparable
|
Third-quarter ended
|
|
Nine months ended
|
||||||||||
28 September 2018
|
29 September 2017
|
Revenue % Change
|
|
28 September 2018
|
29 September 2017
|
Revenue % Change
|
|||||||
% of Total
|
% of Total
|
|
% of Total
|
% of Total
|
|||||||||
Spain/Portugal/Andorra
[1]
|
26.0
|
%
|
28.0
|
%
|
3.5
|
%
|
|
24.0
|
%
|
25.0
|
%
|
(1.0
|
)%
|
Germany
|
19.5
|
%
|
19.5
|
%
|
11.5
|
%
|
|
20.0
|
%
|
20.0
|
%
|
6.0
|
%
|
Great Britain
|
19.5
|
%
|
17.5
|
%
|
21.0
|
%
|
|
19.0
|
%
|
18.0
|
%
|
10.5
|
%
|
France/Monaco
|
14.5
|
%
|
14.5
|
%
|
10.5
|
%
|
|
15.5
|
%
|
16.5
|
%
|
(2.0
|
)%
|
Belgium/Luxembourg/Netherlands
|
13.0
|
%
|
12.5
|
%
|
17.0
|
%
|
|
13.5
|
%
|
13.0
|
%
|
8.5
|
%
|
Norway
|
3.5
|
%
|
3.5
|
%
|
8.5
|
%
|
|
4.0
|
%
|
3.5
|
%
|
6.5
|
%
|
Sweden
|
3.0
|
%
|
3.5
|
%
|
—
|
%
|
|
3.0
|
%
|
3.0
|
%
|
3.0
|
%
|
Iceland
|
1.0
|
%
|
1.0
|
%
|
—
|
%
|
|
1.0
|
%
|
1.0
|
%
|
(5.5
|
)%
|
Total
|
100.0
|
%
|
100.0
|
%
|
11.0
|
%
|
|
100.0
|
%
|
100.0
|
%
|
4.0
|
%
|
[1]
|
Spain/Portugal/Andorra is also referred to as Iberia.
|
Comparable Volume - Selling Day Shift
In millions of unit cases, prior period volume recast using current year selling days
[1]
|
Third-quarter ended
|
|
Nine months ended
|
||||||||||
28 September 2018
|
29 September 2017
|
% Change
|
|
28 September 2018
|
29 September 2017
|
% Change
|
|||||||
Volume
|
702
|
|
669
|
|
5.0
|
%
|
|
1,890
|
|
1,902
|
|
(0.5
|
)%
|
Impact of selling day shift
|
n/a
|
|
n/a
|
|
—
|
%
|
|
n/a
|
|
n/a
|
|
—
|
%
|
Comparable volume - Selling Day Shift adjusted
|
702
|
|
669
|
|
5.0
|
%
|
|
1,890
|
|
1,902
|
|
(0.5
|
)%
|
[1]
|
A unit case equals approximately 5.678 litres or 24 8-ounce servings, a typical volume measure used in our industry.
|
|
P a g e |
9
|
|
|
Comparable Volume by Brand Category
Adjusted for selling day shift
|
Third-quarter ended
|
|
Nine months ended
|
||||||||||
28 September 2018
|
29 September 2017
|
Volume % Change
|
|
28 September 2018
|
29 September 2017
|
% Change
|
|||||||
% of Total
|
% of Total
|
|
% of Total
|
% of Total
|
|||||||||
Sparkling
|
84.5
|
%
|
84.0
|
%
|
5.5
|
%
|
|
85.0
|
%
|
84.5
|
%
|
—
|
%
|
Coca-Cola Trademark
|
61.0
|
%
|
61.5
|
%
|
3.5
|
%
|
|
62.5
|
%
|
63.0
|
%
|
(1.0
|
)%
|
Sparkling Flavours and Energy
|
23.5
|
%
|
22.5
|
%
|
9.5
|
%
|
|
22.5
|
%
|
21.5
|
%
|
4.0
|
%
|
Stills
|
15.5
|
%
|
16.0
|
%
|
4.0
|
%
|
|
15.0
|
%
|
15.5
|
%
|
(4.5
|
)%
|
Juice, Isotonics and Other
|
8.0
|
%
|
8.5
|
%
|
(1.0
|
)%
|
|
7.5
|
%
|
8.0
|
%
|
(6.5
|
)%
|
Water
|
7.5
|
%
|
7.5
|
%
|
9.0
|
%
|
|
7.5
|
%
|
7.5
|
%
|
(2.5
|
)%
|
Total
|
100.0
|
%
|
100.0
|
%
|
5.0
|
%
|
|
100.0
|
%
|
100.0
|
%
|
(0.5
|
)%
|
Supplemental Financial Information - Cost of Sales and Operating Expenses
|
Cost of Sales
In millions of €, except per case data which is calculated prior to rounding
|
Third-quarter ended
|
|
Nine months ended
|
||||||||||
28 September 2018
|
29 September 2017
|
% Change
|
|
28 September 2018
|
29 September 2017
|
% Change
|
|||||||
As reported
|
1,985
|
|
1,774
|
|
12.0
|
%
|
|
5,326
|
|
5,095
|
|
4.5
|
%
|
Adjust: Total items impacting comparability
|
4
|
|
(4
|
)
|
0.5
|
%
|
|
(24
|
)
|
26
|
|
(1.0
|
)%
|
Comparable
[1]
|
1,989
|
|
1,770
|
|
12.5
|
%
|
|
5,302
|
|
5,121
|
|
3.5
|
%
|
Adjust: Impact of fx changes
|
5
|
|
n/a
|
|
—
|
%
|
|
33
|
|
n/a
|
|
(0.5
|
)%
|
Comparable & fx-neutral
|
1,994
|
|
1,770
|
|
12.5
|
%
|
|
5,335
|
|
5,121
|
|
4.0
|
%
|
|
|
|
|
|
|
|
|
||||||
Cost of sales per unit case
[2]
|
2.84
|
|
2.65
|
|
7.0
|
%
|
|
2.82
|
|
2.69
|
|
5.0
|
%
|
[1]
|
The change in cost of sales includes the impact of
2018
incremental sugar and excise taxes in Belgium, France, Great Britain and Norway of
5.0%
and
3.5%
for the
third-quarter
and
nine months
ended 28 September
2018
, respectively.
|
[2]
|
The change in cost of sales per unit case includes the impact of
2018
incremental sugar and excise taxes in Belgium, France, Great Britain and Norway of
5.0%
and
3.5%
for the
third-quarter
and
nine months
ended 28 September
2018
, respectively.
|
Operating Expenses
In millions of €
|
Third-quarter ended
|
|
Nine months ended
|
||||||||||
28 September 2018
|
29 September 2017
|
% Change
|
|
28 September 2018
|
29 September 2017
|
% Change
|
|||||||
As reported
|
803
|
|
763
|
|
5.0
|
%
|
|
2,292
|
|
2,243
|
|
2.0
|
%
|
Adjust: Total items impacting comparability
|
(24
|
)
|
(38
|
)
|
2.5
|
%
|
|
(90
|
)
|
(108
|
)
|
1.0
|
%
|
Comparable
|
779
|
|
725
|
|
7.5
|
%
|
|
2,202
|
|
2,135
|
|
3.0
|
%
|
Adjust: Impact of fx changes
|
1
|
|
n/a
|
|
—
|
%
|
|
14
|
|
n/a
|
|
(1.0
|
)%
|
Comparable & fx-neutral
|
780
|
|
725
|
|
7.5
|
%
|
|
2,216
|
|
2,135
|
|
4.0
|
%
|
Supplemental Financial Information - Free Cash Flow
|
Free Cash Flow
[1]
In millions of €
|
|
Nine months ended
|
||||
|
28 September 2018
|
|
29 September 2017
|
|||
Net cash flows from operating activities
|
|
1,420
|
|
|
1,133
|
|
Add: Proceeds from sales of property, plant and equipment
|
|
4
|
|
|
17
|
|
Less: Purchases of property, plant and equipment
|
|
(303
|
)
|
|
(288
|
)
|
Less: Purchases of capitalised software
|
|
(32
|
)
|
|
(17
|
)
|
Less: Interest paid, net
|
|
(68
|
)
|
|
(75
|
)
|
Free Cash Flow
|
|
1,021
|
|
|
770
|
|
[1]
|
Free cash flow is defined as net cash flows from operations, less capital expenditures and interest paid, plus proceeds from capital disposals.
|
|
P a g e |
10
|
|
|
Supplemental Financial Information - Borrowings
|
Net Debt
In millions of €
|
As at
|
|
Credit Ratings
As of 24 October 2018
|
|
|
|
|
|
28 September 2018
|
|
|
Moody’s
|
|
Standard & Poor’s
|
|||
Total borrowings
|
5,339
|
|
|
Long-term rating
|
|
A3
|
|
BBB+
|
Add: fx impact of non-EUR borrowings
|
34
|
|
|
Outlook
|
|
Stable
|
|
Stable
|
Adjusted total borrowings
|
5,373
|
|
|
Note: Our credit ratings can be materially influenced by a number of factors including, but not limited to, acquisitions, investment decisions and working capital management activities of TCCC and/or changes in the credit rating of TCCC. A credit rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.
|
||||
Less: cash and cash equivalents
|
486
|
|
|
|||||
Net debt
|
4,887
|
|
|
Supplemental Financial Information - Financial Position
|
Statement of Financial Position
In millions of €
|
|
As at
|
|||||||
|
28 September 2018
|
|
31 December 2017
|
|
29 September 2017
|
||||
Non-current assets
|
|
14,824
|
|
|
14,880
|
|
|
14,986
|
|
Current assets
|
|
3,735
|
|
|
3,314
|
|
|
3,748
|
|
Total assets
|
|
18,559
|
|
|
18,194
|
|
|
18,734
|
|
Non-current liabilities
|
|
8,033
|
|
|
8,222
|
|
|
8,023
|
|
Current liabilities
|
|
3,688
|
|
|
3,287
|
|
|
3,943
|
|
Total liabilities
|
|
11,721
|
|
|
11,509
|
|
|
11,966
|
|
Total equity
|
|
6,838
|
|
|
6,685
|
|
|
6,768
|
|
Total equity and liabilities
|
|
18,559
|
|
|
18,194
|
|
|
18,734
|
|
|
P a g e |
11
|
|
|
|
P a g e |
12
|
|
|
|
|
Third-quarter ended
|
|
Nine months ended
|
||||||||
|
|
28 September 2018
|
|
29 September 2017
|
|
28 September 2018
|
|
29 September 2017
|
||||
|
|
€ million
|
|
€ million
|
|
€ million
|
|
€ million
|
||||
Revenue
|
|
3,289
|
|
|
2,964
|
|
|
8,724
|
|
|
8,400
|
|
Cost of sales
|
|
(1,985
|
)
|
|
(1,774
|
)
|
|
(5,326
|
)
|
|
(5,095
|
)
|
Gross profit
|
|
1,304
|
|
|
1,190
|
|
|
3,398
|
|
|
3,305
|
|
Selling and distribution expenses
|
|
(588
|
)
|
|
(550
|
)
|
|
(1,658
|
)
|
|
(1,597
|
)
|
Administrative expenses
|
|
(215
|
)
|
|
(213
|
)
|
|
(634
|
)
|
|
(646
|
)
|
Operating profit
|
|
501
|
|
|
427
|
|
|
1,106
|
|
|
1,062
|
|
Finance income
|
|
12
|
|
|
12
|
|
|
35
|
|
|
37
|
|
Finance costs
|
|
(35
|
)
|
|
(40
|
)
|
|
(103
|
)
|
|
(116
|
)
|
Total finance costs, net
|
|
(23
|
)
|
|
(28
|
)
|
|
(68
|
)
|
|
(79
|
)
|
Non-operating items
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
(2
|
)
|
Profit before taxes
|
|
478
|
|
|
397
|
|
|
1,038
|
|
|
981
|
|
Taxes
|
|
(120
|
)
|
|
(93
|
)
|
|
(263
|
)
|
|
(232
|
)
|
Profit after taxes
|
|
358
|
|
|
304
|
|
|
775
|
|
|
749
|
|
|
|
|
|
|
|
|
|
|
||||
Basic earnings per share (€)
|
|
0.74
|
|
|
0.63
|
|
|
1.60
|
|
|
1.55
|
|
Diluted earnings per share (€)
|
|
0.73
|
|
|
0.62
|
|
|
1.58
|
|
|
1.53
|
|
|
P a g e |
13
|
|
|
|
|
28 September 2018
|
|
31 December 2017
|
|
29 September 2017
|
|||
|
|
€ million
|
|
€ million
|
|
€ million
|
|||
ASSETS
|
|
|
|
|
|
|
|||
Non-current:
|
|
|
|
|
|
|
|||
Intangible assets
|
|
8,371
|
|
|
8,384
|
|
|
8,394
|
|
Goodwill
|
|
2,521
|
|
|
2,520
|
|
|
2,522
|
|
Property, plant and equipment
|
|
3,780
|
|
|
3,837
|
|
|
3,740
|
|
Non-current derivative assets
|
|
8
|
|
|
2
|
|
|
3
|
|
Deferred tax assets
|
|
68
|
|
|
56
|
|
|
269
|
|
Other non-current assets
|
|
76
|
|
|
81
|
|
|
58
|
|
Total non-current assets
|
|
14,824
|
|
|
14,880
|
|
|
14,986
|
|
Current:
|
|
|
|
|
|
|
|||
Current derivative assets
|
|
23
|
|
|
20
|
|
|
13
|
|
Current tax assets
|
|
15
|
|
|
25
|
|
|
35
|
|
Inventories
|
|
747
|
|
|
650
|
|
|
755
|
|
Amounts receivable from related parties
|
|
104
|
|
|
75
|
|
|
99
|
|
Trade accounts receivable
|
|
1,851
|
|
|
1,732
|
|
|
1,917
|
|
Other current assets
|
|
509
|
|
|
452
|
|
|
456
|
|
Cash and cash equivalents
|
|
486
|
|
|
360
|
|
|
473
|
|
Total current assets
|
|
3,735
|
|
|
3,314
|
|
|
3,748
|
|
Total assets
|
|
18,559
|
|
|
18,194
|
|
|
18,734
|
|
LIABILITIES
|
|
|
|
|
|
|
|||
Non-current:
|
|
|
|
|
|
|
|||
Borrowings, less current portion
|
|
5,247
|
|
|
5,474
|
|
|
5,140
|
|
Employee benefit liabilities
|
|
147
|
|
|
162
|
|
|
249
|
|
Non-current provisions
|
|
68
|
|
|
48
|
|
|
38
|
|
Non-current derivative liabilities
|
|
71
|
|
|
93
|
|
|
75
|
|
Deferred tax liabilities
|
|
2,265
|
|
|
2,237
|
|
|
2,308
|
|
Other non-current liabilities
|
|
235
|
|
|
208
|
|
|
213
|
|
Total non-current liabilities
|
|
8,033
|
|
|
8,222
|
|
|
8,023
|
|
Current:
|
|
|
|
|
|
|
|||
Current portion of borrowings
|
|
92
|
|
|
274
|
|
|
900
|
|
Current portion of employee benefit liabilities
|
|
20
|
|
|
21
|
|
|
22
|
|
Current provisions
|
|
108
|
|
|
194
|
|
|
118
|
|
Current derivative liabilities
|
|
4
|
|
|
1
|
|
|
5
|
|
Current tax liabilities
|
|
147
|
|
|
86
|
|
|
138
|
|
Amounts payable to related parties
|
|
203
|
|
|
178
|
|
|
187
|
|
Trade and other payables
|
|
3,114
|
|
|
2,533
|
|
|
2,573
|
|
Total current liabilities
|
|
3,688
|
|
|
3,287
|
|
|
3,943
|
|
Total liabilities
|
|
11,721
|
|
|
11,509
|
|
|
11,966
|
|
EQUITY
|
|
|
|
|
|
|
|||
Share capital
|
|
5
|
|
|
5
|
|
|
5
|
|
Share premium
|
|
140
|
|
|
127
|
|
|
126
|
|
Merger reserves
|
|
287
|
|
|
287
|
|
|
287
|
|
Other reserves
|
|
(518
|
)
|
|
(503
|
)
|
|
(504
|
)
|
Retained earnings
|
|
6,924
|
|
|
6,769
|
|
|
6,854
|
|
Total equity
|
|
6,838
|
|
|
6,685
|
|
|
6,768
|
|
Total equity and liabilities
|
|
18,559
|
|
|
18,194
|
|
|
18,734
|
|
|
P a g e |
14
|
|
|
|
|
Nine months ended
|
||||
|
|
28 September 2018
|
|
29 September 2017
|
||
|
|
€ million
|
|
€ million
|
||
Cash flows from operating activities:
|
|
|
|
|
||
Profit before taxes
|
|
1,038
|
|
|
981
|
|
Adjustments to reconcile profit before tax to net cash flows from operating activities:
|
|
|
|
|
||
Depreciation
|
|
343
|
|
|
337
|
|
Amortisation of intangible assets
|
|
36
|
|
|
42
|
|
Share-based payment expense
|
|
11
|
|
|
10
|
|
Finance costs, net
|
|
68
|
|
|
79
|
|
Income taxes paid
|
|
(150
|
)
|
|
(134
|
)
|
Changes in assets and liabilities:
|
|
|
|
|
||
Decrease/(increase) in trade accounts receivable
|
|
(119
|
)
|
|
(72
|
)
|
Decrease/(increase) in inventories
|
|
(98
|
)
|
|
(87
|
)
|
Increase/(decrease) in trade and other payables
|
|
436
|
|
|
218
|
|
Increase/(decrease) in provisions
|
|
(66
|
)
|
|
(153
|
)
|
Change in other operating assets and liabilities
|
|
(79
|
)
|
|
(88
|
)
|
Net cash flows from operating activities
|
|
1,420
|
|
|
1,133
|
|
Cash flows from investing activities:
|
|
|
|
|
||
Purchases of property, plant and equipment
|
|
(303
|
)
|
|
(288
|
)
|
Purchases of capitalised software
|
|
(32
|
)
|
|
(17
|
)
|
Proceeds from sales of property, plant and equipment
|
|
4
|
|
|
17
|
|
Net cash flows used in investing activities
|
|
(331
|
)
|
|
(288
|
)
|
Cash flows from financing activities:
|
|
|
|
|
||
Changes in short-term borrowings
|
|
(180
|
)
|
|
375
|
|
Repayments on third party borrowings
|
|
(265
|
)
|
|
(675
|
)
|
Interest paid, net
|
|
(68
|
)
|
|
(75
|
)
|
Dividends paid
|
|
(379
|
)
|
|
(388
|
)
|
Purchase of own shares under share buyback programme
|
|
(81
|
)
|
|
—
|
|
Exercise of employee share options
|
|
13
|
|
|
13
|
|
Other financing activities, net
|
|
(2
|
)
|
|
(2
|
)
|
Net cash flows used in financing activities
|
|
(962
|
)
|
|
(752
|
)
|
Net change in cash and cash equivalents
|
|
127
|
|
|
93
|
|
Net effect of currency exchange rate changes on cash and cash equivalents
|
|
(1
|
)
|
|
(6
|
)
|
Cash and cash equivalents at beginning of period
|
|
360
|
|
|
386
|
|
Cash and cash equivalents at end of period
|
|
486
|
|
|
473
|
|
|
COCA-COLA EUROPEAN PARTNERS PLC
|
|
|
|
(Registrant)
|
Date: 25 October 2018
|
By:
|
/s/ Manik Jhangiani
|
|
Name:
|
Manik Jhangiani
|
|
Title:
|
Chief Financial Officer
|
1 Year Coca-Cola European Partners plc Chart |
1 Month Coca-Cola European Partners plc Chart |
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