Cash flow Coca-Cola Europacific Partners plc

Equities

CCEP

GB00BDCPN049

Non-Alcoholic Beverages

Market Closed - Euronext Amsterdam Other stock markets 16:35:26 09/09/2024 BST			After market 20:24:26
74.10 ^EUR	+1.79%		74.00	-0.13%

09-06	Celsius Holdings, Inc: growth on steroids, risk not to be overlooked
09-05	Such a long wait

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Published financial data: COCA-COLA EUROPACIFIC PARTNERS PLC

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	12.02B	10.61B	13.76B	17.32B	18.3B
Total Revenues	12.02B	10.61B	13.76B	17.32B	18.3B
Cost of Goods Sold, Total	7.42B	6.81B	8.6B	11.09B	11.58B
Gross Profit	4.59B	3.8B	5.16B	6.23B	6.73B
Selling General & Admin Expenses, Total	3.05B	2.92B	3.57B	4.09B	4.39B
Depreciation & Amortization - (IS)	-	-	-	-	-
Other Operating Expenses	-	-	-	-	-18M
Other Operating Expenses, Total	3.05B	2.92B	3.57B	4.09B	4.37B
Operating Income	1.55B	873M	1.59B	2.15B	2.35B
Interest Expense, Total	-137M	-132M	-153M	-176M	-179M
Interest And Investment Income	49M	33M	43M	67M	65M
Net Interest Expenses	-88M	-99M	-110M	-109M	-114M
Currency Exchange Gains (Loss)	2M	-7M	-5M	-15M	-5M
Other Non Operating Income (Expenses)	-7M	-10M	-13M	-6M	-17M
EBT, Excl. Unusual Items	1.45B	757M	1.46B	2.02B	2.22B
Restructuring Charges	-	-62M	-17M	-163M	-94M
Merger & Related Restructuring Charges	-	-	-52M	-3M	-12M
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Gain (Loss) On Sale Of Assets	-	-	-	-	89M
Insurance Settlements	-	-	-	11M	9M
Legal Settlements	-	-	-	96M	-6M
Other Unusual Items	-	-	-9M	-	-
EBT, Incl. Unusual Items	1.45B	695M	1.38B	1.96B	2.2B
Income Tax Expense	364M	197M	394M	436M	534M
Earnings From Continuing Operations	1.09B	498M	988M	1.52B	1.67B
Net Income to Company	1.09B	498M	988M	1.52B	1.67B
Minority Interest	-	-	-6M	-13M	-
Net Income - (IS)	1.09B	498M	982M	1.51B	1.67B
Net Income to Common Incl Extra Items	1.09B	498M	982M	1.51B	1.67B
Net Income to Common Excl. Extra Items	1.09B	498M	982M	1.51B	1.67B
Per Share Items
Net EPS - Basic	2.34	1.09	2.15	3.3	3.64
Basic EPS - Continuing Operations	2.34	1.09	2.15	3.3	3.64
Basic Weighted Average Shares Outstanding	466M	455M	456M	457M	459M
Net EPS - Diluted	2.32	1.09	2.15	3.29	3.63
Diluted EPS - Continuing Operations	2.32	1.09	2.15	3.29	3.63
Diluted Weighted Average Shares Outstanding	469M	456M	457M	458M	459M
Normalized Basic EPS	1.95	1.04	1.99	2.73	3.02
Normalized Diluted EPS	1.94	1.04	1.98	2.72	3.02
Dividend Per Share	1.24	0.85	1.4	1.68	1.84
Payout Ratio	52.66	77.51	64.97	50.6	50.39
Supplemental Items
EBITDA	1.97B	1.31B	2.1B	2.68B	2.88B
EBITA	1.56B	881M	1.6B	2.16B	2.4B
EBIT	1.55B	873M	1.59B	2.15B	2.35B
EBITDAR	1.98B	1.33B	2.11B	2.86B	3.06B
Effective Tax Rate - (Ratio)	25.03	28.35	28.51	22.28	24.24
Current Domestic Taxes	-	-	-	-	-
Current Foreign Taxes	-	-	-	-	-
Total Current Taxes	310M	233M	270M	423M	545M
Total Deferred Taxes	54M	-36M	124M	13M	-11M
Normalized Net Income	909M	473M	906M	1.25B	1.39B
Interest on Long-Term Debt	144M	142M	10M	14M	17M
Non-Cash Pension Expense	6M	4M	-19M	-2M	-8M
Supplemental Operating Expense Items
Selling and Marketing Expenses	2.26B	1.94B	2.5B	2.98B	3.18B
General and Administrative Expenses	787M	983M	1.07B	1.1B	1.21B
Research And Development Expense From Footnotes	44M	54M	75M	83M	-
Net Rental Expense, Total	10M	18M	16M	177M	181M
Imputed Operating Lease Interest Expense	1.82M	2.79M	1.92M	19.73M	21.95M
Imputed Operating Lease Depreciation	8.18M	15.21M	14.08M	157M	159M
Stock-Based Comp., SG&A Exp. (Total)	-	-	-	-	-
Stock-Based Comp., Other (Total)	15M	14M	17M	33M	57M
Total Stock-Based Compensation	15M	14M	17M	33M	57M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	316M	1.52B	1.41B	1.39B	1.42B
Short Term Investments	-	-	58M	256M	568M
Trading Asset Securities, Total	-	-	6M	97M	47M
Total Cash And Short Term Investments	316M	1.52B	1.47B	1.74B	2.03B
Accounts Receivable, Total	1.78B	1.59B	2.45B	2.7B	2.67B
Other Receivables	194M	162M	216M	288M	279M
Total Receivables	1.97B	1.75B	2.66B	2.99B	2.95B
Inventory	723M	681M	1.16B	1.38B	1.36B
Prepaid Expenses	65M	61M	101M	180M	130M
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	30M	60M	367M	254M	136M
Total Current Assets	3.1B	4.08B	5.76B	6.54B	6.6B
Gross Property Plant And Equipment	6.89B	6.84B	8.36B	8.76B	9.22B
Accumulated Depreciation	-2.68B	-2.98B	-3.11B	-3.56B	-3.88B
Net Property Plant And Equipment	4.2B	3.86B	5.25B	5.2B	5.34B
Long-term Investments	-	-	188M	192M	101M
Goodwill	2.52B	2.52B	4.62B	4.6B	4.51B
Other Intangibles, Total	8.51B	8.41B	12.64B	12.5B	12.4B
Deferred Tax Assets Long-Term	27M	27M	60M	21M	1M
Other Long-Term Assets, Total	324M	343M	572M	251M	294M
Total Assets	18.68B	19.24B	29.09B	29.31B	29.25B
Liabilities
Accounts Payable, Total	1.39B	1.3B	1.9B	2.71B	2.58B
Accrued Expenses, Total	1.39B	1.4B	2.29B	2.55B	2.6B
Short-term Borrowings	221M	-	286M	-	-
Current Portion of Long-Term Debt	467M	709M	930M	1.2B	1.15B
Current Portion of Leases	111M	96M	134M	141M	150M
Current Income Taxes Payable	95M	171M	181M	241M	253M
Other Current Liabilities	444M	462M	369M	479M	551M
Total Current Liabilities	4.12B	4.14B	6.09B	7.31B	7.28B
Long-Term Debt	5.35B	6.11B	11.32B	10.21B	9.69B
Long-Term Leases	276M	269M	509M	535M	542M
Pension & Other Post Retirement Benefits	221M	283M	138M	108M	191M
Deferred Tax Liability Non Current	2.2B	2.13B	3.62B	3.51B	3.38B
Other Non Current Liabilities	368M	273M	198M	190M	198M
Total Liabilities	12.53B	13.21B	21.88B	21.87B	21.28B
Common Stock, Total	5M	5M	5M	5M	5M
Additional Paid In Capital	178M	192M	220M	234M	276M
Retained Earnings	6.14B	6.08B	6.68B	7.43B	8.23B
Treasury Stock	-	-	-	-	-
Comprehensive Income and Other	-162M	-250M	131M	-220M	-536M
Total Common Equity	6.16B	6.02B	7.03B	7.45B	7.98B
Minority Interest	-	-	177M	-	-
Total Equity	6.16B	6.02B	7.21B	7.45B	7.98B
Total Liabilities And Equity	18.68B	19.24B	29.09B	29.31B	29.25B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	456M	455M	456M	457M	459M
ECS Total Common Shares Outstanding	456M	455M	456M	457M	459M
Book Value / Share	13.49	13.25	15.42	16.29	17.37
Tangible Book Value	-4.87B	-4.91B	-10.23B	-9.66B	-8.93B
Tangible Book Value Per Share	-10.67	-10.79	-22.42	-21.13	-19.45
Total Debt	6.42B	7.19B	13.18B	12.08B	11.53B
Net Debt	6.1B	5.66B	11.71B	10.34B	9.5B
Debt Equivalent of Unfunded Proj. Benefit Obligation	140M	208M	-91M	-58M	24M
Debt Equivalent Oper. Leases	80M	144M	128M	1.42B	1.45B
Minority Interest, Total (Incl. Fin. Div)	-	-	177M	-	-
Equity Method Investments, Total	-	-	35M	33M	35M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	232M	210M	375M	452M	449M
Inventories - Finished Goods, Total	408M	389M	635M	777M	750M
Inventories - Others	83M	82M	147M	151M	157M
Land - (BS)	316M	317M	663M	648M	657M
Buildings, Total	1.53B	1.61B	2.43B	2.5B	2.59B
Machinery, Total	4.26B	4.32B	5.06B	5.31B	5.59B
Full Time Employees	23.36K	22K	22K	33K	32K
Accumulated Allowance for Doubtful Accounts (Supple)	18M	39M	49M	57M	54M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	1.09B	498M	982M	1.51B	1.67B
Depreciation & Amortization - CF	540M	544M	633M	671M	642M
Amortization of Goodwill and Intangible Assets - (CF)	8M	8M	14M	18M	45M
Depreciation & Amortization, Total	548M	552M	647M	689M	687M
Amortization of Deferred Charges, Total - (CF)	44M	54M	75M	83M	94M
(Gain) Loss From Sale Of Asset	-	-	-	-	-89M
Asset Writedown & Restructuring Costs	47M	121M	60M	44M	11M
Stock-Based Compensation (CF)	15M	14M	16M	33M	57M
Other Operating Activities, Total	190M	35M	223M	148M	145M
Change In Accounts Receivable	5M	208M	-242M	-282M	-5M
Change In Inventories	-25M	34M	-1M	-244M	6M
Change In Accounts Payable	-63M	53M	507M	885M	124M
Change in Other Net Operating Assets	53M	-79M	-150M	68M	107M
Cash from Operations	1.9B	1.49B	2.12B	2.93B	2.81B
Capital Expenditure	-506M	-348M	-349M	-500M	-672M
Sale of Property, Plant, and Equipment	11M	49M	25M	11M	101M
Cash Acquisitions	-	-	-5.4B	-	-
Sale (Purchase) of Intangible assets	-96M	-60M	-97M	40M	-68M
Investment in Marketable and Equity Securities, Total	-8M	-11M	219M	-196M	-347M
Other Investing Activities, Total	-	-	-2M	-	49M
Cash from Investing	-599M	-370M	-5.6B	-645M	-937M
Short Term Debt Issued, Total	101M	-	276M	-	-
Long-Term Debt Issued, Total	987M	1.6B	4.88B	-	694M
Total Debt Issued	1.09B	1.6B	5.15B	-	694M
Short Term Debt Repaid, Total	-	-221M	-	-285M	-
Long-Term Debt Repaid, Total	-753M	-685M	-1.09B	-1.09B	-1.31B
Total Debt Repaid	-753M	-906M	-1.09B	-1.38B	-1.31B
Issuance of Common Stock	26M	14M	28M	13M	43M
Repurchase of Common Stock	-1B	-129M	-	-	-
Common Dividends Paid	-574M	-386M	-638M	-763M	-841M
Common & Preferred Stock Dividends Paid	-574M	-386M	-638M	-763M	-841M
Other Financing Activities, Total	-84M	-91M	-165M	-150M	-411M
Cash from Financing	-1.3B	100M	3.29B	-2.28B	-1.82B
Foreign Exchange Rate Adjustments	4M	-13M	83M	-31M	-15M
Net Change in Cash	7M	1.21B	-116M	-20M	32M
Supplemental Items
Cash Interest Paid	-	-	-	-	182M
Cash Income Tax Paid (Refund)	270M	273M	306M	415M	509M
Levered Free Cash Flow	796M	928M	896M	2.3B	1.69B
Unlevered Free Cash Flow	882M	1.01B	992M	2.41B	1.8B
Change In Net Working Capital	90M	-253M	294M	-720M	-233M
Net Debt Issued / Repaid	335M	692M	4.06B	-1.38B	-613M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	5.24	2.88	4.11	4.59	5.02
Return on Total Capital	7.81	4.23	5.9	6.72	7.54
Return On Equity %	17.14	8.18	14.93	20.75	21.64
Return on Common Equity	17.14	8.18	15.04	20.83	21.64
Margin Analysis
Gross Profit Margin %	38.22	35.8	37.49	35.98	36.75
SG&A Margin	25.35	27.57	25.95	23.59	23.99
EBITDA Margin %	16.4	12.33	15.23	15.47	15.74
EBITA Margin %	12.94	8.31	11.64	12.49	13.1
EBIT Margin %	12.87	8.23	11.54	12.39	12.86
Income From Continuing Operations Margin %	9.07	4.7	7.18	8.78	9.12
Net Income Margin %	9.07	4.7	7.14	8.71	9.12
Net Avail. For Common Margin %	9.07	4.7	7.14	8.71	9.12
Normalized Net Income Margin	7.56	4.46	6.59	7.2	7.57
Levered Free Cash Flow Margin	6.63	8.75	6.51