CCEP Launches Final €500 Million Share Buyback Tranche as H1 Results Boost Investor Confidence

Coca‑Cola Europacific Partners (CCEP) has initiated the second and final €500 million tranche of its share buyback programme, covering both NASDAQ and European venues, as the company builds on its robust first‑half 2026 performance. €593 million of the €1 billion share repurchase authorisation is now complete as of late July.

Final Buyback Tranche Begins

On July 6, 2026, CCEP commenced the second tranche of its coordinated share buyback programme, which is set to run until December 18, 2026, though it may conclude earlier. The tranche allocates up to €500 million for share repurchases—of which up to €130 million will be executed on London trading venues—with Goldman Sachs acting as riskless principal to facilitate the transactions.

This marks the completion of the approved €1 billion return to shareholders, building on the €500 million repurchased during the first tranche earlier this year.

The company intends to cancel all shares repurchased under the programme, reinforcing its commitment to enhancing shareholder value.

H1 2026 Results Underscore Financial Strength

CCEP reported strong financial results for the six months ended July 3, 2026, with revenue of €10.724 billion, up 6.1% on a comparable and FX‑neutral basis. Comparable operating profit rose 8.1% to €1.481 billion, and comparable diluted EPS increased by 10.6% to €2.20.

The company reaffirmed its full‑year 2026 guidance, targeting revenue growth of 3–4% (comparable, FX‑neutral), around 7% growth in operating profit, comparable free cash flow of at least €1.7 billion, and continuation of the €1 billion buyback programme.

As of July 31, approximately €593 million of buybacks were completed, leaving about €407 million remaining under the authorisation.

Next Steps and Significance

CCEP’s execution of the final buyback tranche amid solid half‑year performance signals disciplined capital allocation and a focus on returning value to shareholders. As the programme progresses through December, investors will closely monitor repurchase activity, liquidity impacts, and potential earnings‑per‑share benefits from reduced share count.

With half‑year results firmly in place and buybacks underway, CCEP appears poised to maintain financial discipline while delivering tangible returns in H2 2026.