Coca-Cola Europacific Partners PLC (CCEP): BCG Matrix [Dec-2025 Updated]

You're looking for a clear-eyed assessment of Coca-Cola Europacific Partners PLC's (CCEP) portfolio, and the Boston Consulting Group (BCG) Matrix is defintely the right tool to map out where the cash is coming from and where the future investment needs to go. Honestly, the picture is sharp: high-growth Stars like Monster and Coke Zero Sugar, showing volume gains of up to 14.6% in H1 2025, are being bankrolled by the reliable European core, which is set to deliver a minimum of €1.7 billion in comparable free cash flow for FY25. But, you've got some clear Dogs, like Juices seeing a volume drop of 13.6%, and exciting but unproven Question Marks, such as the newly rolled-out Alcohol Ready-to-Drink portfolio, needing a decision on where to place your next big bet. Let's break down exactly where CCEP stands right now.

Background of Coca-Cola Europacific Partners PLC (CCEP)

You're looking at the bedrock of Coca-Cola Europacific Partners PLC (CCEP), which isn't some startup, but a colossal bottling giant built through strategic consolidation. The formal entity, initially named Coca-Cola European Partners, kicked off on May 28, 2016, by merging three major Western European bottlers: Coca-Cola Enterprises, Coca-Cola Iberian Partners, and Coca-Cola Erfrischungsgetränke AG. This move was designed to create the world's largest independent Coca-Cola bottler by net revenue, aiming for cost savings between $350 million and $375 million over the first three years. That's a serious play for scale right out of the gate.

The company you see today got its current name, Coca-Cola Europacific Partners, on May 10, 2021, after it acquired the Australian bottling company, Coca-Cola Amatil. This expansion significantly broadened its footprint beyond Western Europe into the Asia-Pacific region. Today, CCEP is the world's largest independent Coca-Cola bottler by net revenue, serving nearly 600 million consumers across 31 countries from its 42 bottling plants. It's a massive operation that buys concentrate from The Coca-Cola Company, manufactures the final product, and then handles the distribution to its 4 million customers.

Financially, CCEP posted revenues of €20.438 billion for the full year 2024. Looking ahead to the end of 2025, the company reaffirmed guidance for comparable operating profit growth of around 7% and revenue growth of 3% to 4% (on an FX-neutral basis). For context, the first half of 2025 saw revenue hit €10.274 billion, with adjusted operating profit growing by 7.2% to €1,364 million. This strong profit growth outpacing revenue growth shows their Revenue Growth Management strategy is working-they're defintely balancing pricing and volume well.

As a publicly traded entity, CCEP is listed on the London Stock Exchange (where it's a FTSE 100 component), Euronext Amsterdam, and NASDAQ (a NASDAQ 100 constituent), trading under the ticker CCEP. In terms of ownership, you'll see major stakes held by Olive Partners at 36% and The Coca-Cola Company at 17%. This structure gives it both the independence of a major listed firm and the close alignment of a key partner to the brand owner.

Coca-Cola Europacific Partners PLC (CCEP) - BCG Matrix: Stars

You're looking at the growth engines for Coca-Cola Europacific Partners PLC, the brands and units that dominate high-growth spaces. These are the leaders right now, but they definitely demand significant investment to maintain that top spot and market share.

The energy drinks portfolio, anchored by Monster and its variants like Ultra, is a prime example of a Star for Coca-Cola Europacific Partners PLC. This category is high-growth, and the performance reflects that. For the first half of 2025, the energy segment delivered a phenomenal volume increase of +14.6% across markets. To be fair, the Ultra and zero variants were even hotter, with volumes up over 20% in H1 2025.

Also firmly in the Star quadrant is Coca-Cola Zero Sugar. This product is capturing share in the growing low/no-sugar segment. For the first six months of 2025, Coca-Cola Zero Sugar showed solid volume growth of +4.7% across both the Europe and Asia Pacific (APS) operating units. Keeping this momentum is key; if this success sustains as the low/no-sugar market matures, it is set to transition into a Cash Cow.

From a geographic perspective, the Asia Pacific (APS) operating unit is showing the high market growth characteristic of a Star. This unit delivered a massive +22.2% revenue growth in the first quarter of 2025. This regional performance, despite some headwinds in specific areas like Indonesia, shows where the market expansion is happening for Coca-Cola Europacific Partners PLC.

We also look at Sprite, which maintained strong share in the lemon-lime category. For the full year 2024, Sprite showed robust volume growth of +3.7% across all key markets. This historical strength supports its current Star positioning, though H1 2025 volumes saw a slight dip of -1.0%, which the company is addressing with focus on flavor extensions and zero variants.

Here's a quick look at the recent performance metrics supporting the Star classification:

The strategy here is clear: invest heavily to defend and grow share in these high-potential areas. You need to ensure placement and promotion are world-class.

• Energy volumes (Monster) up nearly 15% in H1 2025.
• Ultra and zero energy variants volume up over 20% in H1 2025.
• APS revenue growth of +22.2% in Q1 2025.
• Coca-Cola Zero Sugar growth in both Europe and APS.

Finance: draft 13-week cash view by Friday.

Coca-Cola Europacific Partners PLC (CCEP) - BCG Matrix: Cash Cows

Cash Cows for Coca-Cola Europacific Partners PLC (CCEP) represent the established, high-market-share brands operating in mature segments, which you rely on to fund the rest of the portfolio. These units consume minimal investment for growth but generate substantial, predictable cash flow.

The core Coca-Cola Original Taste in mature European markets exemplifies this quadrant, delivering stable, high-margin revenue even as its H1 2025 volume saw a decline of -1.1%. This stability is underpinned by strong brand equity and pricing power, allowing CCEP to maintain profitability despite volume softness in certain legacy segments.

The overall European operating unit, which forms the bedrock of the company's financial stability, continues to be a massive cash generator. For the first quarter of 2025, this unit alone delivered revenue of €3,253 million. This reliable cash stream is essential for corporate functions and shareholder returns.

You can see the financial muscle these mature assets provide in the full-year projections. The business's ability to generate strong cash is evidenced by the comparable free cash flow projected at a minimum of €1.7 billion for the full fiscal year 2025. This is the cash you use to fund strategic moves elsewhere.

This strong cash generation directly supports significant capital returns to shareholders. The mature product lines provide the necessary backing for the €1 billion share buyback program announced in February 2025. Honestly, this is what you expect from a market leader in a stable market.

Here's a quick look at the financial context supporting these Cash Cow designations:

The strategy for these assets is clear: maintain market share and efficiency, not aggressively pursue growth investment. You want to 'milk' the gains passively while focusing capital elsewhere.

• Maintain productivity through efficiency programs.
• Invest selectively in infrastructure to lower cost-to-serve.
• Support shareholder returns via dividends and buybacks.
• Leverage pricing power to offset minor volume dips.

The execution of the buyback program shows management's confidence in the intrinsic value these Cash Cows represent. For instance, by November 2025, a significant portion of the €1 billion program was already executed, with tranches completed throughout the year, demonstrating consistent capital deployment from these reliable earnings streams.

For example, the third period of the buyback, concluding in September 2025, involved a maximum consideration of €255,000,000. This level of commitment is only feasible because the core business units, like the established European portfolio, are consistently converting sales into free cash flow.

Finance: draft 13-week cash view by Friday.

Coca-Cola Europacific Partners PLC (CCEP) - BCG Matrix: Dogs

You're looking at the parts of Coca-Cola Europacific Partners PLC (CCEP) portfolio that are stuck in low-growth markets and carry a low relative market share. Honestly, these are the units where capital gets tied up for minimal return. Dogs are prime candidates for divestiture because expensive turn-around plans rarely pay off here.

These units, by definition, operate in markets that aren't expanding much, and CCEP's position within them isn't strong enough to generate significant cash flow. Here's a look at the specific areas fitting this profile based on the first half of 2025 performance data.

The Juices segment clearly falls into the Dog category, showing a significant volume contraction of -13.6% for the first half of 2025. This sharp drop was largely due to a strategic de-listing of Capri Sun across European markets, an action that has now fully annualised its impact on the figures.

Next, consider the Ready-to-Drink (RTD) Tea & Coffee category. This area saw a volume decline of -12.6% in H1 2025. The pressure here came from two main sources: the decline of Frestea in Indonesia, which was also dealing with a weaker consumer backdrop, and the ongoing transition from Nestea to Fuze Tea in Spain, though that transition is reportedly progressing ahead of plan.

Traditional, full-sugar Carbonated Soft Drinks (CSDs) in certain mature European sub-markets also exhibit Dog characteristics due to long-term market contraction. For instance, Coca-Cola Original Taste saw an H1 volume decline of -1.1% overall, with the European performance being a drag, partly due to the French sugar tax increase. You have to look at these specific mature pockets where growth is structurally low, even as other parts of the portfolio, like Zero Sugar, are expanding by +4.7%.

• Dogs require careful management to avoid cash traps.
• The strategic de-listing of Capri Sun is a clear action to minimize exposure.
• Indonesia's softer Ramadan and macroeconomic backdrop hurt RTD Tea & Coffee volumes.
• Europe's H1 total volumes still dipped 0.3% overall, signaling market maturity challenges.

If onboarding takes 14+ days, churn risk rises, and similarly, if these low-growth segments don't show a clear path to positive relative share, capital allocation needs to be minimal. Finance: draft the Q3 2025 cash flow impact analysis for the Juices segment by next Tuesday.

Coca-Cola Europacific Partners PLC (CCEP) - BCG Matrix: Question Marks

These areas represent CCEP's high-growth market bets that currently hold a lower market share, demanding cash investment to secure future dominance.

The newly rolled-out Alcohol Ready-to-Drink (ARTD) portfolio is an example of this strategy in action. The rollout is ongoing, with the Jack Daniel's & Coca-Cola Cherry variant launched in the first quarter, contributing to strong ARTD growth across Europe. Furthermore, new distribution for Bacardi spirits began in Australia in Q4, following the Q3 launch of Bacardi & Coke ARTD in that region.

The Indonesia market within the Asia Pacific (APS) unit is a long-term opportunity despite near-term headwinds. Total first half volumes were impacted by a weaker consumer backdrop. Volume declines in Indonesia were specifically attributed to a softer Ramadan festive period and brand boycotts linked to geopolitical tensions. Consequently, Coca-Cola Europacific Partners tempered its annual comparable revenue forecast to be between 3% and 4%, down from a prior forecast of about 4%.

Flavor extensions require significant investment to gain traction in competitive segments. For instance, the Coca-Cola Lemon variant was launched in Q1 in Australia, supporting high single-digit volume growth for the overall Fanta trademark in that market during the first half.

Investment is also focused on functional and enhanced hydration products, where CCEP is positioning itself for category growth. While the specific market growth rate of 8.2% is not confirmed in the latest reports, related categories show significant investment and growth:

The overall business context for H1 2025 saw total CCEP revenue of €10,274 million, with adjusted comparable revenue growth of 2.5%. Operating profit grew by 7.2% to €1,364 million.

The strategic imperative for these Question Marks centers on rapidly increasing market share or divesting. CCEP is investing cash flow, with Comparable free cash flow generation at €425 million in H1 2025, which supported record investment in future growth.

The required actions for these segments can be summarized as follows:

• Invest heavily to quickly gain market share in ARTD and functional segments.
• Focus transformation journey efforts in Indonesia for long-term potential.
• Monitor new flavor extensions like Fanta Lemon for sustained adoption.
• Avoid becoming a Dog by quickly proving market traction in growing categories.