Tags: Coca-Cola | CCE | KO | stocks

Coca-Cola Wants Bigger Gulp of Europe

By    |   Thursday, 11 Aug 2011 04:03 PM

Coca-Cola Enterprises (CCE) is a domestic company that sells the iconic American beverage abroad and is the sole Coca-Cola bottler in selected European markets.

Coca-Cola Enterprises produces, distributes, and markets non-alcoholic beverages as the sole licensee of an affiliated company, the Coca-Cola Company (KO), in Belgium, Luxembourg, the Netherlands, Norway and Sweden as well as continental France and Great Britain

The Atlanta, Ga. company claims to be the world's third-largest independent Coca-Cola bottler, selling beverages under its namesake brand name and others, including Capri Sun, Diet Coke, Dr. Pepper, Fanta, Schweppes, and Sprite. More than half of its revenue has come from two countries, Great Britain and France, in the last three years.

Coca-Cola Enterprises has generated annual growth in net income and in net operating revenue in three of the last four years. CCE last year rang up $6.7 billion of net operating revenue and $624 million of net income, both more than the year before.

The company reported July 28 that it expected full-year 2011 earnings per diluted share in the range of $2.10 to $2.15, compared with $1.83 last year.

Kaumil S. Gajrawala, a director of UBS Investment Bank who covers U.S. beverage stocks, told the Atlanta-Journal Constitution in a late-July interview that Coca-Cola Enterprises' bottling operations have been "running smoothly." Asked if the Coca-Cola bottler would achieve its projected earnings this year, Gajrawala said told the newspaper that "we remain confident that the company can deliver."

Wall Street has a mixed view of the Coca-Cola bottling business in Europe. In early August, half of the analysts following the company recommended buying its stock and half had neutral or hold ratings on the stock.

First-half growth

CCE generated $4.25 billion of net operating revenue in the first half of 2011, up from $3.23 billion in the January to June period last year.

Net income rose to $352 million in the six-month period ended in June from $319 million in the same period last year, and first-half earnings per share rose to $1.08 from 94 cents last year. The company next reports on or around Oct. 28.

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Coca-Cola Enterprises (CCE) is a domestic company that sells the iconic American beverage abroad and is the sole Coca-Cola bottler in selected European markets. Coca-Cola Enterprises produces, distributes, and markets non-alcoholic beverages as the sole licensee of an...
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Thursday, 11 Aug 2011 04:03 PM
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