Coca Cola European Partners : Q4 and FY Results 2020

'2020 was a challenging year like no other, and I am very proud of how well we have managed through such a rapidly changing environment. That is down to the extraordinary work and commitment of our colleagues, supporting each other as well as our customers and communities, to all of whom, I am sincerely grateful.

'The crisis also reinforced the power of our relationship with The Coca-Cola Company and our other brand partners. Our collective belief in continuing to invest in our core brands has served us well, gaining share1 both in the home channel and online. We also took meaningful actions to protect our performance, ending the year with strong free cash flow2 and a solid balance sheet. This enabled us to continue to return cash to shareholders, as evidenced by the dividend paid in December.

'While our business continues to face significant restrictions, which we confidently continue to navigate, the crisis has strengthened our determination to move further and faster towards a stronger and even more sustainable future. We protected the short-term without compromising the longer-term by continuing to invest, particularly in digital, sustainability and our portfolio. These investments enabled us to provide exceptional service and support for our customers and colleagues, to progress faster towards our 2040 net zero carbon ambition and to seed future revenue streams like Costa, Tropico and Topo Chico. We also adjusted our cost base to a new reality with more to come.

'So, we are confident about the future, built upon three pillars: great people, great service and great beverages. We are making a difference and believe we have the right foundation, alongside the exciting Coca-Cola Amatil acquisition, to drive sustainable growth and deliver increased shareholder value.'

- Damian Gammell, CEO, Coca-Cola European Partners

Read the full results here.

[1] Source: NARTD (non-alcoholic ready to drink) Nielsen Global Track Data

for ES, PT, DE, GB, FR, BE, NL, SE, NO to YE 27.12.20 [2] Refer to

'Note Regarding the Presentation of Alternative Performance Measures' for further details;