LONDON--(BUSINESS WIRE)--Coca-Cola European Partners plc (CCEP) (NYSE:CCE) announces that on 15 March 2018 it filed its 2017 Annual Report on Form 20-F with the Securities and Exchange Commission. This document was filed in accordance with Section 203.01 of the New York Stock Exchange Listed Company Manual and includes CCEP’s audited results for the year ended 31 December 2017. The unaudited fourth-quarter and full year results for the period ended 31 December 2017 were previously released on 15 February 2018.
The 2017 Annual Report on Form 20-F was concurrently made available on CCEP's website at http://ir.ccep.com/financial-reports/coca-cola-european-partners-annual-reports and also online at www.sec.gov.
Copies of the 2017 Annual Report on Form 20-F will be available shortly at www.morningstar.co.uk/uk/NSM. Printed copies of the Annual Report will be posted to those shareholders who have requested it on or around 20 April 2018.
Pursuant to Disclosure Guidance and Transparency Rule 6.3.5R, a summary of the principal risks and uncertainties, information regarding related party transactions and a responsibility statement are set out in the Appendices. Page references included herein refer to page numbers in the 2017 Annual Report on Form 20-F. References to notes to the financial statements refer to notes in the 2017 Annual Report on Form 20-F. This announcement should be read in conjunction with, and is not a substitute for reading, the full 2017 Annual Report on Form 20-F.
Coca-Cola European Partners plc (CCEP) is a leading consumer packaged goods company in Europe, producing, distributing and marketing an extensive range of nonalcoholic ready-to-drink beverages and is the world’s largest independent Coca-Cola bottler based on revenue. Coca-Cola European Partners serves a consumer population of over 300 million across Western Europe, including Andorra, Belgium, continental France, Germany, Great Britain, Iceland, Luxembourg, Monaco, the Netherlands, Norway, Portugal, Spain, and Sweden. The company is listed on Euronext Amsterdam, the New York Stock Exchange, Euronext London, and on the Spanish stock exchanges, and trades under the symbol CCE. For more information about CCEP, please visit www.ccep.com and follow CCEP on Twitter at @CocaColaEP.
APPENDIX A – PRINCIPAL RISKS AND UNCERTAINTIES
The Directors recognise that the Group’s risk management programme is essential to understand the nature, scope, potential likelihood and impact of enterprise-wide risks and to manage them effectively, responding appropriately to the changing risk profile of our operating environment. The Directors believe a strong risk culture with a clear risk management programme in CCEP will ensure well-informed business decisions are taken and risks are actively managed throughout the Group.
The following is a summary of the Group’s Principal Risks and Uncertainties that are included in the 2017 Annual Report on Form 20-F:
- Consumer Preferences and the Health Impact of Soft Drinks
- Legal and Regulatory Intervention
- Business Integration and Synergy Savings
- Cyber and Social Engineering Attacks
- Economic and Political Conditions
- Relationship with The Coca-Cola Company (“TCCC”) and Other Franchisors
- Product Quality
Our principal risks and uncertainties did not change materially in 2017. For further details about our principal risks and uncertainties please refer to pages 27 to 28 of the 2017 Annual Report on Form 20-F.
APPENDIX B – RELATED PARTY TRANSACTIONS
Details regarding related party transactions can be found in Note 18 of the Notes to the Consolidated Financial Statements on pages 145 to 147 of the 2017 Annual Report on Form 20-F.
APPENDIX C – DIRECTORS’ RESPONSIBILITIES STATEMENT
(pages 92 and 93 of the 2017 Annual Report on Form 20-F)
Responsibility for preparing financial statements
The Directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
UK company law requires the Directors to prepare financial statements for each financial year. Under that law the Directors are required to prepare group financial statements in accordance with International Financial Reporting Standards (IFRSs) as adopted by the European Union and Article 4 of the IAS Regulations and have elected to prepare the parent company financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom accounting standards and applicable law) including FRS 101 “Reduced Disclosure Framework”. In preparing the consolidated group financial statements the Directors have also elected to comply with IFRSs as issued by the International Accounting Standards Board (IASB).
Under section 393 of the Companies Act 2006 (the Companies Act), the Directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.
In preparing the Company financial statements, the Directors are required to:
- Select suitable accounting policies and apply them consistently
- Make judgements and accounting estimates that are reasonable and prudent
- Follow applicable UK Accounting Standards (except where any departures from this requirement are explained in the notes to the parent company financial statements)
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business
In preparing the Group financial statements in accordance with IAS 1, “Presentation of Financial Statements”, the Directors are required to:
- Select suitable accounting policies and apply them consistently
- Present information, including accounting policies, in a manner that provides relevant, reliable, comparable and understandable information
- Provide additional disclosures when compliance with the specific requirements in IFRS are insufficient to enable users to understand the impact of particular transactions, other events and conditions on the entity’s financial performance
- Make an assessment of the Group’s ability to continue as a going concern
The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company’s transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act. They are responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Directors are responsible for the maintenance and integrity of the corporate and financial information included on the Company’s website. Legislation, regulation and practice in the UK governing the preparation and dissemination of financial statements may differ from legislation, regulation and practice in other jurisdictions.
The Directors, whose names and functions are set out on pages 45 to 49, confirm that to the best of their knowledge:
- the financial statements, prepared in accordance with the relevant financial reporting framework, give a true and fair view of the assets, liabilities, financial position and profit or loss of the Company and the undertakings included in the consolidation taken as a whole;
- the management report includes a fair review of the development and performance of the business and the position of the Company and the undertakings included in the consolidation taken as a whole, together with a description of the principal risks and uncertainties they face; and
- the Annual Report and financial statements, taken as a whole are fair, balanced and understandable and provide the information necessary for shareholders to assess the Company’s position and performance, business model and strategy.