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    Philip Spain • JPMorgan Chase & Co.

    Philip Spain's questions to Coca-Cola Europacific Partners PLC (CCEP) leadership

    Philip Spain's questions to Coca-Cola Europacific Partners PLC (CCEP) leadership • FY 2024

    Question

    Philip Spain of JPMorgan asked for the rationale behind accelerating CapEx plans in the Philippines and requested more detail on what these investments will entail.

    Answer

    CEO Damian Gammell explained the acceleration is a direct result of the Philippine business delivering well ahead of expectations. The investment, which is within the existing overall CapEx guidance, will fund new production lines, more coolers, technology systems, and fundamental assets like bottles and cases to support strong volume growth. CFO Ed Walker added it will also unlock mix opportunities in cans and PET.

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    Philip Spain's questions to Coca-Cola Europacific Partners PLC (CCEP) leadership • Q4 2024

    Question

    Philip Spain asked for the rationale behind accelerating CapEx plans in the Philippines and requested details on what the accelerated investment would entail.

    Answer

    CEO Damian Gammell explained the decision was driven by the Philippines business delivering 'well ahead of our expectation in year 1.' The investment, which is within existing guidance, involves pulling forward plans for new production lines, more coolers, technology systems, and essential assets like bottles and cases to support strong volume growth, particularly in refillable glass. CFO Ed Walker added it will also unlock mix opportunities in cans and PET.

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