Shares of Coca-Cola Europacific Partners PLC (CCEP,CCEP.AS) were losing nearly 12 percent in the Amsterdam trading as well as in pre-market activity on the Nasdaq, after the company trimmed its fiscal 2025 revenue forecast, despite reporting higher first-half results.
The outlook revision mainly reflects a weaker consumer backdrop in Indonesia.
For fiscal 2025, the company now expects revenues to grow around 3 percent to 4 percent on an adjusted comparable & FX-neutral basis, while previous outlook was a growth of around 4 percent.
The company continues to expect annual operating profit growth of around 7 percent.
In the first half, profit before taxes grew to 1.26 billion euros from last year's 1.05 billion euros. Earnings per share were 1.99 euros, higher than last year's 1.73 euros.
Revenue for the period grew to 10.27 billion euros from prior year's 9.83 billion euros.
The company noted that total first-half volumes were impacted by a weaker consumer backdrop in Indonesia.
In Amsterdam, CCEP shares were trading at 75.20 euros, down 11.63 percent.
In the pre-market activity on the Nasdaq, the shares were at $86.98, 11.54 percent lower.
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