Coca-Cola Europacific Partners(US:CCEP)2020-08-06 14:57H1 2020 Financial Performance - Revenue decreased by 16% to €4.8 billion [12] - Operating profit decreased by 50% [12] - Free cash flow was €129 million [12] - COGS per unit case (UC) increased by 3.5% [12] COVID-19 Impact - Q2 2020 volumes decreased by 22% due to the pandemic [13, 15] - Away-From-Home (AFH) channel was significantly impacted, with a 50% volume decline in Q2 [13] - Approximately 75% of AFH outlets were initially closed during the lockdown period, with around 30% remaining closed [13] Strategic Initiatives and Sustainability - The company is focused on driving a strong recovery in H2, leveraging digital capabilities and optimizing promotional efficiency [6, 24] - The company delivered discretionary spend reductions in line with FY target of €200-250 million [9] - Sweden became the first 100% rPET market in the Coke system [10] Outlook and Future Strategy - The company is unable to provide a full-year 2020 financial outlook [22] - The company anticipates COGS per UC headwinds from manufacturing under-recovery and mix [22] - The company is building a platform for growth in coffee with Costa, launching Costa RTD into all markets [28]