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.