Matthew Ford's questions to COCA-COLA EUROPACIFIC PARTNERS (CCEP) leadership • H1 2025
Question
Asked for an update on the COGS situation, specifically hedging levels for 2025 and any expected major moving parts and hedging levels for 2026.
Answer
Management is pleased with COGS, enjoying flat commodities in 2025 and expecting that to continue into 2026. For 2025, they are over 90% hedged. For 2026, they are around 60% hedged, which is the desired level for this time of year, leaving some room to capitalize on favorable market movements. The outlook for 2026 is good with relatively flat commodities expected.