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Coca-Cola Enterprises Inc. Message Board

  • bluecheese4u bluecheese4u Feb 7, 2013 2:08 PM Flag

    Coca-Cola Enterprises, Inc. Reports Fourth-Quarter and Full-Year 2012 Results

    Coca-Cola Enterprises, Inc. Reports Fourth-Quarter and Full-Year 2012 Results

    CCE achieved full-year earnings per diluted share of $2.25 on a reported basis, or $2.26 on a comparable basis.
    Full-year net sales totaled $8.1 billion, down 2½ percent on a reported basis, up 3 percent on a currency neutral basis, and up 1 percent on a currency neutral basis excluding the impact of the French excise tax increase.
    Full-year reported operating income was $928 million, down 10 percent; full-year comparable operating income was $1.0 billion, down 4 percent, and up 2½ percent on a currency neutral basis.
    Fourth-quarter earnings per diluted share totaled 34 cents on a reported basis, or 45 cents on a comparable basis; free cash flow totaled $582 million.
    Initiated a new $1.5 billion share repurchase program in 2013, with a goal of purchasing at least $500 million by year end.
    CCE continues to expect 2013 comparable and currency neutral earnings per diluted share growth of approximately 10 percent.

    ATLANTA--(BUSINESS WIRE)--Feb. 7, 2013-- Coca-Cola Enterprises, Inc. (NYSE/Euronext Paris: CCE) today reported full-year 2012 earnings per diluted share of $2.25, or $2.26 on a comparable basis.

    Reported operating income for the year totaled $928 million; comparable operating income totaled $1.0 billion, up 2½ percent on a comparable and currency neutral basis versus a year ago. Currency translation negatively affected full-year comparable earnings per diluted share by 16 cents. Items affecting comparability are detailed on pages 12 through 15 of this release.

    “We achieved solid earnings per share growth in 2012 while working through significant marketplace challenges and the ongoing macroeconomic softness that continues to affect our territories,” said John F. Brock, chairman and chief executive officer. “Managing through these factors, we also delivered modest comparable, currency neutral net sales and operating income growth, and strong free cash flow.

    “We remain confident in our ability to restore, over time, our sales and operating income growth to levels in line with our long-term targets,” Mr. Brock said. “Our optimism is fueled by the popularity of our brands, the effectiveness of our marketplace initiatives, the benefits of our Business Transformation Program, and the skill and dedication of our people.

    “Going forward, we will continue to focus on value-creating opportunities in order to achieve sustained growth and to deliver on our most important goal – creating value for our shareowners,” Mr. Brock said.

    OPERATING REVIEW

    Full-year 2012 net sales totaled $8.1 billion, a decline of 2½ percent versus prior year results, up 3 percent on a currency neutral basis, and up 1 percent on a currency neutral basis excluding the impact of the French excise tax increase. For the fourth quarter, net sales grew 1 percent on a reported basis, 2 percent on a currency neutral basis, and was flat on a currency neutral basis excluding the impact of the French excise tax increase.

    Full-year comparable operating income declined 4 percent over prior year results, and increased 2½ percent on a comparable and currency neutral basis. For the quarter, operating income grew 13 percent on a comparable basis and 13½ percent on a comparable and currency neutral basis, driven by modest gross margin improvement after excluding the impact of the French excise tax increase, and focused expense controls.

    cokecceDOTcom/news-and-events/news/coca-cola-enterprises-inc-reports-fourth-quarter-and-full-year-2012-results

 
CCE
45.45-1.25(-2.68%)4:04 PMEDT

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