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Coca-Cola European Partners (NYSE: CCE) | Company Profile, History, Competitors

 

Coca-Cola European Partners (NYSE: CCE) is a European bottling company that markets and sells Coca-Cola products. CCE is the largest Coke bottler in the world. The company was formed in 2016 and headquartered in Uxbridge, UK.

Coca-Cola European Partners was formed as the combination of the three bottling Coca-Cola Enterprises, Coca-Cola Iberian Partners and Coca-Cola Erfrischungsgetränke GmbH. The consolidation created one of the world's largest bottling companies.

Business Overview

CCE was created as part of the merger of Coca-Cola Enterprises, Coca-Cola Iberian Partners and Coca-Cola Erfrischungsgetränke GmbH in 2016.

CCE operates in 12 markets in Western Europe (UK, France, Germany, Spain, Netherlands, Belgium, Portugal, Sweden, Norway, Iceland, Luxembourg, Monaco, Andorra). CCE has the number one share in all of its key markets.

The majority of CCE's distribution volumes are skewed towards Coca-Cola trademark brands, with the rest being bottled water, juices, sports drinks and energy drinks.

Following 2016, CCE has a 10-year agreement with Coca-Cola for bottling in its geographies with a 10-year renewal term extension. The majority of CCE's costs are concentrate, finished goods, and packaging. CCE buys concentrate from Coca-Cola and bottles/sells to its geographies.

Geography

In 2017, CCE sales by market was:
  • Spain/Portugal/Andorra: 24%
  • Germany: 20%
  • Great Britain: 18%
  • France/Monaco: 16%
  • Belgium/Luxembourg/Netherlands: 13%
  • Norway: 4%
  • Sweden: 3%
  • Iceland: 1%

Competitors

Its main competitors is Pepsi and private label brands.

History

In 2015, Coca-Cola Enterprises announced a merger with Coke's Spanish and German bottlers - Coca-Cola Iberian Partners (CCIP) and Coca-Cola Erfrischungsgetränke AG. The merger was completed in 2016.

Management

Damian P. Gammbel (CEO): Damian Gammbel serves as CEO since 2015. Prior, he served as CEO of Anadolu Group and CE of Coca-Cola Erfrischungsgetranke.

Manik H. Jhangiani (CFO): Manik Jhangiani serves as CFO since 2016. Prior, he was CFO of the predecessor Coca-Cola Enterprises. He has also served as CFO of Bharti Group and CFO of Coca-Cola Hellenic Bottling. He had also worked at Deloitte & Touche LLP, Colgate-Palmolive and Bristol Myers.

Financials

 $ USD in millions    2013    2014 2015 2016 2017
 Revenues $8,212 
$6,217 
$6,329 
$9,133 
$11,062 
 Gross Profit $2,867 
$2,219 
 $2,352 
 $2,538 
 $4,323 
 Operating Profit $914 
$747 
 $759 
 $851 
 $1,260 
 Net Income$667 
$484 
$513 
 $549 
 $688 
 EPS$2.44 
$1.92 
$2.19 
$1.42 
$1.41 

Coca-Cola European Partners PLC
 
  Type     Public
  Ticker     NYSE: CCE
  Industry Food
  Founded 2016
  Headquarters Uxbridge, UK
  Facilities 295 (2017)
  Revenues
$11.1bn (2017)
  Employees 23,500 (2017)
  Website ccep.com