We’re building on success with the proven track record of growth, a strong commitment to shareowners and a clear operating framework which guides our company. We are driving growth and we are delivering value with the right brands, the right markets and we are doing it sustainably and in the right way.So what does CCE look like today? We’re a company which had revenue in 2011 of $8.3 billion. We served some 170 million consumers who consume more than 30 billion servings of our products each year, a total reached through six consecutive years of growth. We manufacture our products at 17 locations, each a component of our Pan-European supply chain. We have a total workforce of more than 13,000, including one of the largest sales forces of any consumer products companies in our territories. Most importantly, CCE has proven that we have the size, the scope, the plans and the teams to continue to be an effective competitor in what is a very attractive category and this is despite having to navigate a challenging macro economic environment. We are optimistic about our ability to create sustained growth. This is inline with or above our long-term growth objectives. Much of the reason for this optimism is impact our track record as well as the balanced nature of our business. For the past six years, we focused on creating value of our customers, consumers and shareowners and we are committed to doing so in the future. We’ve managed and we’ve executed through dynamic and often challenging times to drive sustained and balanced operating income growth. For example, over the past six years we have achieved average annual upgrading income growth of more than 8.5% each year, even as we continue to face ongoing macro economic weakness. We have a solid balance sheet, strong free cash flow and a clear focus on creating value for each stakeholder in our company. Our results and our actions clearly demonstrate our commitment to increasing shareowner value.
We continue to create value and we return cash to shareowners through increased dividends. And we instituted a 23% increase earlier this year and in fact have a three year compound annual dividend growth of 22%.In addition, we’ve already completed a $1 billion share repurchase program that started late in 2010. This year we began a second $1 billion share repurchase program with a goal of at least $500 million in repurchases by the end of this year. These initiatives remain possible for our continuing strong free cash flow as well as our focused on driving shareowner value. At the core of this growth is a focused approach to our business. For more than five years, our work has been guided by a very clear operating framework, which creates a vision, clear strategic priorities and very clear financial objectives. Our plans and all of our actions regarded by three priorities, first, to be number one or number two in every category for we choose to compete. Second, to be our customers’ most valued supplier and third to create a winning inclusive culture that attracts, develops and retains a highly talented and diverse workforce. For those of you who follow our company closely, these priorities are very familiar. Yet, they remain as vital and as relevant as ever and they are essential through our success as we continue to drive consistent long-term profitable growth. Clearly, our primary focus is to drive sustainable value building growth. And let’s discuss the strategies and the initiatives that are at the heart of that growth and that enable us to continue to deliver value for our stakeowners. Sustained growth is attainable impart because the nonalcoholic ready-to-drink category or NARTD is the largest fast moving consumer goods category in our territories. This category experienced value growth of 6.5% in our territories last year 2011 despite the overall difficult economic environment, which is a very impressive demonstration of the categories potential. Read the rest of this transcript for free on seekingalpha.com