I give a hold rating for Coca-Cola Europacific Partners (NASDAQ: CCEP ) as the current valuation already reflects much of its fundamental strength. With the stock trading near its recent peak multiple and earnings growth likely to remain in the Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha ...

Financial Data and Key Metrics Changes - The company reported revenue of €10.3 billion for H1 2025, an increase of 2.5% compared to the previous year [24] - Comparable volumes were marginally ahead, up 0.3%, despite challenges in Indonesia [24] - Operating profit increased by 7.2% to €1.4 billion, with an operating margin expansion of approximately 60 basis points to 13.5% [26] - Comparable diluted earnings per share rose by 3.1% on an FX neutral basis [26] - Comparable free cash flow generation was €425 million for H1, with a target of at least €1.7 billion for the full year [27] Business Line Data and Key Metrics Changes - The core NARTD category grew by more than 5% in the last twelve months, with significant contributions from Monster and other brands [8] - Monster volumes increased nearly 15%, driven by innovation and distribution gains [17] - Fanta Zero volumes grew by around 7%, and Sprite Zero by approximately 13% [18] - The away-from-home business saw a return to volume growth in Q2, supported by better weather and Easter timing [11] Market Data and Key Metrics Changes - The European market returned to volume growth in Q2, contributing positively to overall performance [24] - The Philippines market performed well despite strong comparables from the previous year, with a 10 basis point increase in overall value share [12] - Indonesia faced a weaker consumer backdrop, impacting group volumes by around 1% in Q2 [9] Company Strategy and Development Direction - The company is focused on driving profitable revenue growth while maintaining affordability and relevance for consumers [13] - A multiyear view on promotional and pricing strategies is emphasized to create sustainable value [12] - The company is investing heavily in technology and digital capabilities to enhance productivity and efficiency [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the midterm growth objectives, reaffirming full-year profit and cash guidance [40] - The company anticipates volume growth for the full year, particularly in Europe and APS, despite challenges in Indonesia [30] - Management acknowledged the competitive landscape but remains focused on sustainable value creation [70] Other Important Information - The company completed around €460 million in share buybacks and maintained a dividend payout policy of around 50% [7] - The launch of new campaigns, such as "This Is My Taste" for Diet Coke, is expected to drive consumer engagement [32] - The company is transitioning to a partner distributor model in Indonesia to enhance distribution efficiency [37] Q&A Session Summary Question: Guidance on top line and bottom line growth - Management noted that despite a slight change in revenue guidance, they expect acceleration in the second half driven by volume growth and pricing strategies [44][46] Question: Performance in Europe and away-from-home growth - Management highlighted strong performance in Europe, particularly due to favorable weather and increased consumer engagement in away-from-home settings [52][54] Question: Medium-term growth outlook considering Indonesia - Management indicated that while Indonesia presents challenges, it is a small part of the overall business, and they remain optimistic about long-term opportunities [90] Question: Update on COGS and hedging for 2026 - The company is well-hedged for 2025 and has around 60% hedging in place for 2026, with expectations of flat commodity prices [94] Question: Australian margin turnaround - Management expressed confidence in the Australian business's margin recovery, emphasizing ongoing structural changes and efficiency improvements [99]

Financial Data and Key Metrics Changes - The company reported revenue of €10.3 billion for H1 2025, an increase of 2.5% compared to the previous year [23] - Comparable volumes were marginally ahead, up 0.3%, despite challenges in Indonesia [23] - Operating profit increased by 7.2% to €1.4 billion, with an operating margin expansion of 60 basis points to 13.5% [25] - Comparable diluted earnings per share rose by 3.1% to €2, reflecting a higher effective tax rate of 26% [25] Business Line Data and Key Metrics Changes - The core NARTD category grew by more than 5% in the last twelve months, with significant contributions from Monster and other brands [7] - Operating profit growth of 7.2% was driven by strong top-line performance and efficiency programs [13] - The energy category, particularly Monster, saw volumes increase nearly 15%, with retail value share growing by around 140 basis points [16] Market Data and Key Metrics Changes - European markets returned to volume growth in Q2, supported by favorable weather and the Easter holiday [11] - The Philippines market performed well despite strong comparables from the previous year, with overall value share growing by 10 basis points [12] - Indonesia's weaker consumer backdrop impacted total first half volumes, contributing to a 1% decline in group volumes [11] Company Strategy and Development Direction - The company is focused on driving profitable revenue growth while maintaining affordability and relevance for consumers [13] - A multiyear view on promotional and pricing strategies is emphasized to create sustainable value [12] - The company is investing in technology and digital capabilities to enhance productivity and drive future growth [10] Management's Comments on Operating Environment and Future Outlook - Management reaffirmed full-year profit and cash guidance, indicating a revenue growth range of 3% to 4% for the year [8] - The company remains optimistic about long-term opportunities in Indonesia despite current challenges [37] - Management highlighted the importance of digital transformation and technology investments to unlock value [39] Other Important Information - The company completed around €460 million in share buybacks and maintained a dividend payout policy of approximately 50% [6] - The return of the "Share a Coke" campaign was well received, contributing positively to brand performance [15] - The company is recognized for its sustainability efforts, retaining inclusion on CDP's A List for Climate for nine consecutive years [21] Q&A Session Summary Question: Guidance on top line and bottom line growth - Management indicated that despite a slight change in revenue guidance, they expect acceleration in the second half driven by volume growth and pricing strategies [45][46] Question: Performance in Europe and away from home growth - Management noted strong performance in Europe due to favorable weather and increased consumer engagement, with a focus on cooler placements and promotional activities [52][55] Question: Competitiveness in the market - Management acknowledged ongoing competition but emphasized a commitment to sustainable value creation and effective pricing strategies [68][71] Question: Metrics for the "Share a Coke" campaign - Management tracks metrics such as shelf distribution and consumption rates to evaluate the success of the campaign, which has positively impacted volume and price mix [75][76] Question: Acceleration in away from home growth - Management highlighted the return of consumers to public spaces and the impact of weather on away from home sales, indicating a positive trend for the remainder of the year [80][86] Question: Medium-term growth outlook considering Indonesia - Management reiterated that while Indonesia presents challenges, it is not critical to achieving midterm growth objectives, as other markets can offset weaknesses [90][93] Question: Update on COGS and hedging - Management reported being over 90% hedged for 2025 and around 60% for 2026, with expectations of flat commodity prices [96][97] Question: Update on Australian margin turnaround - Management expressed optimism about the Australian business's margin recovery, supported by structural changes and efficiency improvements [101][102]

Winning today Creating tomorrow Results for the Six Months Ended 27 June 2025 6 August 2025 Forward looking statements This document contains statements, estimates or projections that constitute "forward-looking statements" concerning the financial condition, performance, results, guidance and outlook, dividends, consequences of mergers, acquisitions, joint ventures, divestitures, strategy and objectives of Coca-Cola Europacific Partners plc and its subsidiaries (together CCEP or the Group). Generally, the ...

Group 1 - Coca-Cola European (CCEP) is outperforming the Consumer Staples sector with a year-to-date return of 19.2%, compared to the sector's average return of 7.4% [4] - CCEP is ranked 2 (Buy) in the Zacks Rank system, indicating a favorable earnings outlook and improving analyst sentiment, with a 4.9% increase in the full-year earnings estimate [3][4] - The Beverages - Soft drinks industry, which includes CCEP, has gained about 8.3% year-to-date, showing that CCEP is performing better than its industry peers [6] Group 2 - BJ's Wholesale Club (BJ) is another strong performer in the Consumer Staples sector, with a year-to-date return of 25% and a Zacks Rank of 2 (Buy) [5][7] - The Consumer Products - Staples industry, which includes BJ, has only moved +1.8% since the beginning of the year, indicating that BJ is also outperforming its industry [7]

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Overview: Coca-Cola European (CCEP) - CCEP currently holds a Momentum Style Score of B, indicating potential for solid momentum investing [2] - The company has a Zacks Rank of 2 (Buy), suggesting it is positioned to outperform the market [3] Price Performance - CCEP shares have increased by 3.13% over the past week, outperforming the Zacks Beverages - Soft drinks industry, which rose by 2.13% [5] - Over the past month, CCEP's stock price has changed by 4.06%, compared to the industry's 1.4% [5] - In the last quarter, CCEP shares rose by 13.64%, and over the past year, they gained 27.53%, while the S&P 500 saw declines of -11.93% and gains of 7.36%, respectively [6] Trading Volume - CCEP's average 20-day trading volume is 2,750,749 shares, which serves as a bullish indicator when combined with rising stock prices [7] Earnings Outlook - In the past two months, two earnings estimates for CCEP have been revised upwards, increasing the consensus estimate from $4.37 to $4.51 [9] - For the next fiscal year, two estimates have also moved higher, with no downward revisions during the same period [9] Conclusion - Given the positive price trends and earnings outlook, CCEP is identified as a 2 (Buy) stock with a Momentum Score of B, making it a strong candidate for near-term investment [11]

Group 1: Momentum Investing Overview - Momentum investing involves following a stock's recent trend, with the aim of buying high and selling higher, capitalizing on established price movements [1] - The Zacks Momentum Style Score helps define momentum characteristics, with Coca-Cola European (CCEP) currently holding a Momentum Style Score of B [2][3] Group 2: Performance Metrics - CCEP shares have increased by 1.82% over the past week, while the Zacks Beverages - Soft drinks industry has decreased by 0.19% during the same period [5] - Over the last quarter, CCEP shares have risen by 12.69%, and by 23.32% over the past year, outperforming the S&P 500, which has moved -4.38% and 9.82% respectively [6] Group 3: Trading Volume and Earnings Outlook - CCEP's average 20-day trading volume is 3,705,845 shares, indicating a bullish sign with rising stock prices [7] - In the past two months, four earnings estimates for CCEP have increased, raising the consensus estimate from $4.30 to $4.44 [9] Group 4: Conclusion - CCEP is rated as a 2 (Buy) stock with a Momentum Score of B, making it a potential candidate for near-term investment [11]

Financial Reporting - Coca-Cola Europacific Partners plc filed its 2024 Annual Report and Form 20-F on March 21, 2025, with audited results for the year ended December 31, 2024[3] - The unaudited fourth-quarter and full-year results for the period ended December 31, 2024, were released on February 14, 2025[3] Company Operations - Coca-Cola Europacific Partners serves nearly 600 million consumers and supports over 4 million customers across 31 countries[5] Stock Information - The company is listed on multiple exchanges, including Euronext Amsterdam, NASDAQ, London Stock Exchange, and Spanish Stock Exchanges, trading under the symbol CCEP[6]

Acquisition and Market Expansion - The company jointly acquired 100% of Coca-Cola Beverages Philippines, Inc. (CCBPI) on February 23, 2024, in partnership with Aboitiz Equity Ventures Inc. (AEV) as part of its market expansion strategy[1642]. - The company plans to expand its market presence in Eastern Europe, targeting a 20% increase in market share within the next three years[1654]. - A merger and acquisition strategy is in place, with a focus on acquiring local beverage brands to enhance product diversity and market reach[1655]. Financial Performance - Coca-Cola Europacific Partners reported a cumulative operating profit increase of 10% year-over-year, reflecting strong demand for its products[1644]. - The company achieved an earnings per share (EPS) of €1.25, representing a 15% increase compared to the previous year[1644]. - The company reported significant changes in its financial information, with consolidated statements available on pages 167-242 of the report[1633]. - The company’s operating results for the year are summarized on pages 82-87, showcasing growth in key performance metrics[1633]. - Coca-Cola Europacific Partners reported a 12% increase in free cash flow, amounting to €300 million, which will be reinvested into growth initiatives[1655]. Growth and Development - The company anticipates a revenue growth of 8% for the upcoming fiscal year, driven by new product launches and market expansion strategies[1652]. - The company’s future outlook includes continued investment in research and development, particularly in new product lines and technologies[1633]. - User data indicated a 5% growth in the number of active customers, reaching 1.2 million users across its digital platforms[1644]. Sustainability Initiatives - The company emphasizes sustainability initiatives, aligning with the Beverage Industry Environmental Roundtable (BIER) standards[1642]. - Coca-Cola Europacific Partners is investing €200 million in new technology for sustainable packaging solutions, aiming for a 50% reduction in plastic usage by 2025[1653]. - The company has set a target to achieve net zero emissions by 2030, with significant investments in renewable energy sources[1655]. Governance and Policies - The company has established a comprehensive governance framework, including a code of ethics and audit committee financial expert[1635]. - The company has implemented a policy on the recoupment of incentive compensation, approved by the Board on October 18, 2023[1638]. Liquidity and Capital Resources - The company’s liquidity and capital resources are detailed on pages 88-90, indicating a strong financial position[1633]. Employee Engagement - The company is implementing a new employee share purchase plan (ESPP) to enhance employee engagement and retention, with an expected participation rate of 30%[1654]. Strategic Focus - The company’s strategic report includes a focus on artificial intelligence (AI) to enhance operational efficiency[1642].

Preliminary* Results for the Full Year 2024 14th February 2025 *Unaudited Forward looking statements This document contains statements, estimates or projections that constitute "forward-looking statements" concerning the financial condition, performance, results, guidance and outlook, dividends, consequences of mergers, acquisitions, joint ventures, divestitures, , strategy and objectives of Coca-Cola Europacific Partners plc and its subsidiaries (together CCEP or the Group). Generally, the words "ambition" ...