Coca-Cola Europacific Partners (CCEP) 6-K 8 Aug 19 2019 Q2 Current report (foreign) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	COCA-COLA EUROPEAN PARTNERS plc
Entity Central Index Key	0001650107
Document Type	6-K
Document Period End Date	Jun. 28, 2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2

Condensed Consolidated Interim

Condensed Consolidated Interim Income Statement (Unaudited) - EUR (€) € in Millions	6 Months Ended
	Jun. 28, 2019	Jun. 29, 2018
Profit or loss [abstract]
Revenue	€ 5,802	€ 5,435
Cost of sales	(3,594)	(3,341)
Gross profit	2,208	2,094
Selling and distribution expenses	(1,101)	(1,070)
Administrative expenses	(381)	(419)
Operating profit	726	605
Finance income	26	23
Finance costs	(75)	(68)
Total finance costs, net	(49)	(45)
Non-operating items	1	0
Profit before taxes	678	560
Taxes	(170)	(143)
Profit after taxes	€ 508	€ 417
Basic earnings per share (in EUR per share)	€ 1.08	€ 0.86
Diluted earnings per share (in EUR per share)	€ 1.07	€ 0.85

Condensed Consolidated Interi_2

Condensed Consolidated Interim Statement of Comprehensive Income (Unaudited) - EUR (€) € in Millions	6 Months Ended
	Jun. 28, 2019	Jun. 29, 2018
Statement of comprehensive income [abstract]
Profit after taxes	€ 508	€ 417
Foreign currency translations:
Pretax activity, net	(16)	(11)
Tax effect	0	0
Foreign currency translation, net of tax	(16)	(11)
Cash flow hedges:
Pretax activity, net	0	(8)
Tax effect	1	1
Cash flow hedges, net of tax	1	(7)
Other comprehensive loss for the period, net of tax	(15)	(18)
Total comprehensive income	€ 493	€ 399

Condensed Consolidated Interi_3

Condensed Consolidated Interim Statement of Financial Position (Unaudited) - EUR (€) € in Millions	Jun. 28, 2019	Dec. 31, 2018	Jun. 29, 2018
Non-current:
Intangible assets	€ 8,392	€ 8,384	€ 8,363
Goodwill	2,521	2,518	2,521
Property, plant and equipment	4,184	3,888	3,793
Non-current derivative assets	3	2	7
Deferred tax assets	41	37	62
Other non-current assets	286	396	78
Total non-current assets	15,427	15,225	14,824
Current:
Current derivative assets	10	13	22
Current tax assets	8	21	26
Inventories	945	693	815
Amounts receivable from related parties	114	107	101
Trade accounts receivable	1,974	1,655	1,966
Other current assets	230	193	497
Cash and cash equivalents	382	309	368
Total current assets	3,663	2,991	3,795
Total assets	19,090	18,216	18,619
Non-current:
Borrowings, less current portion	5,676	5,127	5,289
Employee benefit liabilities	134	142	150
Non-current provisions	116	119	67
Non-current derivative liabilities	40	51	77
Deferred tax liabilities	2,160	2,157	2,253
Other non-current liabilities	280	264	233
Total non-current liabilities	8,406	7,860	8,069
Current:
Current portion of borrowings	620	491	395
Current portion of employee benefit liabilities	18	19	20
Current provisions	74	133	139
Current derivative liabilities	21	20	3
Current tax liabilities	157	110	114
Amounts payable to related parties	379	191	235
Trade and other payables	3,080	2,828	2,814
Total current liabilities	4,349	3,792	3,720
Total liabilities	12,755	11,652	11,789
EQUITY
Share capital	5	5	5
Share premium	167	152	135
Merger reserves	287	287	287
Other reserves	(567)	(552)	(521)
Retained earnings	6,443	6,672	6,924
Total equity	6,335	6,564	6,830
Total equity and liabilities	€ 19,090	€ 18,216	€ 18,619

Condensed Consolidated Interi_4

Condensed Consolidated Interim Statement of Cash Flows (Unaudited) - EUR (€) € in Millions	6 Months Ended
	Jun. 28, 2019	Jun. 29, 2018
Cash flows from operating activities:
Profit before taxes	€ 678	€ 560
Adjustments to reconcile profit before tax to net cash flows from operating activities:
Depreciation	289	229
Amortisation of intangible assets	25	24
Share-based payment expense	8	7
Finance costs, net	49	45
Income taxes paid	(82)	(92)
Changes in assets and liabilities:
Decrease/(increase) in trade and other receivables	(321)	(234)
Decrease/(increase) in inventories	(254)	(166)
Increase/(decrease) in trade and other payables	265	315
Increase/(decrease) in provisions	(62)	(36)
Change in other operating assets and liabilities	249	(31)
Net cash flows from operating activities	844	621
Cash flows from investing activities:
Purchases of property, plant and equipment	(260)	(207)
Purchases of capitalised software	(44)	(13)
Proceeds from sales of property, plant and equipment	11	3
Net cash flows used in investing activities	(293)	(217)
Proceeds from non-current borrowings	492	0
Cash flows from financing activities:
Changes in short-term borrowings	50	(78)
Repayments on third party borrowings	(175)	0
Interest paid, net	(53)	(61)
Repayments of principal on lease obligations	(61)	(10)
Dividends paid	(290)	(252)
Purchase of own shares under share buyback programme	(457)	0
Exercise of employee share options	15	8
Other financing activities, net	1	(2)
Net cash flows used in financing activities	(478)	(395)
Net change in cash and cash equivalents	73	9
Net effect of currency exchange rate changes on cash and cash equivalents	0	(1)
Cash and cash equivalents at beginning of period	309	360
Cash and cash equivalents at end of period	€ 382	€ 368

Condensed Consolidated Interi_5

Condensed Consolidated Interim Statement of Changes in Equity Statement (Unaudited) - EUR (€) € in Millions	Total	Share capital	Share premium	Merger reserves	Other reserves	Retained earnings
Equity attributable to owners of parent at Dec. 31, 2017	€ 6,685	€ 5	€ 127	€ 287	€ (503)	€ 6,769
Profit after taxes	417					417
Other comprehensive income / (expense)	(18)				(18)
Total comprehensive income	399				(18)	417
Issue of shares during the period	8		8
Equity-settled share-based payment expense	7					7
Share-based payment tax benefits	(16)					(16)
Dividends	(253)					(253)
Equity attributable to owners of parent at Jun. 29, 2018	6,830	5	135	287	(521)	6,924
Equity attributable to owners of parent at Dec. 31, 2018	6,564	5	152	287	(552)	6,672
Profit after taxes	508					508
Other comprehensive income / (expense)	(15)				(15)
Total comprehensive income	493				(15)	508
Issue of shares during the period	15		15
Equity-settled share-based payment expense	8					8
Share-based payment tax benefits	2					2
Dividends	(290)					(290)
Own shares purchased under share buyback programme	457	0.1				457
Equity attributable to owners of parent at Jun. 28, 2019	€ 6,335	€ 5	€ 167	€ 287	€ (567)	€ 6,443

GENERAL INFORMATION AND BASIS O

GENERAL INFORMATION AND BASIS OF PREPARATION	6 Months Ended
	Jun. 28, 2019
Corporate Information And Statement of IFRS Compliance [Abstract]
GENERAL INFORMATION AND BASIS OF PREPARATION	GENERAL INFORMATION AND BASIS OF PREPARATION Coca-Cola European Partners plc (the Company) and its subsidiaries (together CCEP, the Group) are a leading consumer goods group in Western Europe making, selling and distributing an extensive range of non-alcoholic ready-to-drink beverages. The Group is the world’s largest independent Coca-Cola bottler based on revenue. CCEP 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. CCEP is a public company limited by shares, incorporated under the laws of England and Wales with the registered number in England of 09717350. The Group’s shares are listed and traded on Euronext Amsterdam, the New York Stock Exchange, London Stock Exchange and on the Spanish Stock Exchanges. The address of the Company’s registered office is Pemberton House, Bakers Road, Uxbridge, Middlesex UB8 1EZ, United Kingdom. These condensed consolidated interim financial statements do not constitute statutory accounts as defined by Section 434 of the Companies Act 2006. They have been reviewed but not audited by the Group’s auditor, unless otherwise stated. The statutory accounts for the Company for the year ended 31 December 2018 , which were prepared in accordance with IFRS as issued by the International Accounting Standards Board (IASB), IFRS as adopted by the European Union and in accordance with the provisions of the Companies Act 2006, have been delivered to the Registrar of Companies. The auditor’s opinion on those accounts was unqualified and did not contain a statement made under section 498 (2) or (3) of the Companies Act 2006. The condensed consolidated interim financial statements of the Group for the six months ended 28 June 2019 were approved and signed by Damian Gammell, Chief Executive Officer on 8 August 2019 having been duly authorised to do so by the Board of Directors. Basis of Preparation and Accounting Policies The condensed consolidated interim financial statements of the Group have been prepared in accordance with the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority and International Accounting Standard 34, “Interim Financial Reporting” (IAS 34) and should be read in conjunction with our 2018 Consolidated Financial Statements. The 2018 Consolidated Financial Statements were prepared in accordance with IFRS as issued by the IASB, IFRS as adopted by the European Union and in accordance with the provisions of the Companies Act 2006. The 2018 Consolidated Financial Statements include a full description of the Group’s accounting policies. The same accounting policies and methods of computation have been used as described in the 2018 Consolidated Financial Statements, with the exception of taxes on income and the adoption of IFRS 16, “Leases” as set out in Note 2. Taxes on income in interim periods are accrued using the tax rate that would be applicable to expected total annual profit or loss. For consistent preparation, the amount within the Condensed Consolidated Interim Statement of Cash Flows for the six months ended 29 June 2018 relating to payments of principal on lease obligations has been presented in line with current year classification. There has been no change in our net cash flows from financing activities for the six months ended 29 June 2018 . Reporting periods Results are presented for the interim period from 1 January 2019 to 28 June 2019 . The Group’s financial year ends on 31 December . For half-yearly reporting convenience, the first six month period closes on the Friday closest to the end of the interim calendar period. There was one less selling day in the six months ended 28 June 2019 versus the six months ended 29 June 2018 , and there will be one more selling day in the second six months of 2019 versus the second six months of 2018 (based upon a standard five-day selling week). The following table summarises the number of selling days, for the years ended 31 December 2019 and 31 December 2018 (based on a standard five-day selling week): Half year Full year 2019 129 261 2018 130 261 Change -1 0 Trading seasonality Operating results for the first half of 2019 may not be indicative of the results expected for the year ended 31 December 2019 as sales of the Group’s products are seasonal, with the second and third quarters accounting for higher unit sales of the Group’s products than the first and fourth quarters. The seasonality of the Group’s sales volume, combined with the accounting for fixed costs such as depreciation, amortisation, rent and interest expense, impacts the Group’s results for the first half of the year. Additionally, year-over-year shifts in holidays, selling days and weather patterns can impact the Group’s results on an annual or half-yearly basis. Exchange rates The Group’s reporting currency is the Euro. CCEP translates the income statements of non-Euro functional currency subsidiary operations to the Euro at average exchange rates and the balance sheets at the closing exchange rate as at the end of the period. The principal exchange rates used for translation purposes in respect of one Euro were: Average for the Six Months Ended Closing as at 28 June 2019 29 June 2018 28 June 2019 31 December 2018 29 June 2018 UK Sterling 1.14 1.14 1.12 1.12 1.13 US Dollar 0.89 0.83 0.88 0.87 0.86 Norwegian Krone 0.10 0.10 0.10 0.10 0.11 Swedish Krone 0.10 0.10 0.09 0.10 0.10 Icelandic Krone 0.01 0.01 0.01 0.01 0.01

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 28, 2019
Earnings per share [abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE Basic earnings per share is calculated by dividing profit after taxes by the weighted average number of shares in issue and outstanding during the period. Diluted earnings per share is calculated in a similar manner, but includes the effect of dilutive securities, principally share options, restricted stock units and performance share units. Share-based payment awards that are contingently issuable upon the achievement of a specified market and/or performance conditions are included in the diluted earnings per share calculation based on the number of shares that would be issuable, if the end of the period was the end of the contingency period. The following table summarises basic and diluted earnings per share calculations for the periods presented: Six Months Ended 28 June 2019 29 June 2018 Profit after taxes attributable to equity shareholders (€ million) 508 417 Basic weighted average number of shares in issue (million) 472 485 Effect of dilutive potential shares (million) 3 4 Diluted weighted average number of shares in issue (million) 475 489 Basic earnings per share (€) 1.08 0.86 Diluted earnings per share (€) 1.07 0.85 As at 28 June 2019 and 29 June 2018 , the Company had 466,671,427 and 486,108,000 shares in issue and outstanding, respectively. For the six months ended 28 June 2019 , there were no outstanding options to purchase shares excluded from the diluted earnings per share calculation. For the six months ended 29 June 2018 , outstanding options to purchase 0.7 million shares were excluded from the diluted earnings per share calculation because the effect of including these options in the computation would have been antidilutive. The dilutive impact of the remaining options outstanding and unvested restricted share units was included in the effect of dilutive securities.

IFRS16 LEASES

IFRS16 LEASES	6 Months Ended
	Jun. 28, 2019
Disclosure of leases [Abstract]
IFRS16 LEASES	IFRS 16 LEASES On 1 January 2019, the Group adopted IFRS 16, “Leases” on a modified retrospective basis from 1 January 2019. The Group has not restated its 2018 financial statements as permitted under the specific transitional provisions in the standard. The impact from the new leasing standard is therefore recognised in the opening balance sheet on 1 January 2019. Prior to the adoption of IFRS 16, the Group classified and accounted for each of its leases (as lessee) as either a finance lease or an operating lease under the principles of IAS 17, “Leases”. Finance leases were capitalised at the commencement of the lease at the inception date fair value of the leased asset or, if lower, at the present value of the minimum lease payments. Lease payments were apportioned between interest and reduction of the lease liability. For operating leases, the leased asset was not capitalised and the lease payments were recognised as rent expense in the statement of profit or loss on a straight-line basis over the lease term. Any prepaid rent and accrued rent were recognised under Prepayments and Trade and other payables, respectively. The objective of IFRS 16 is to ensure a single lessee accounting model and requires a lessee to recognise assets and liabilities for all leases with a term of more than 12 months, unless the underlying asset is of low value. The lease liability was initially measured at the present value of lease payments, discounted using the Group’s incremental borrowing rate (IBR). The weighted average incremental borrowing rate applied to the lease liabilities on 1 January 2019 was 1.30 percent. The lease term comprises the non-cancellable period of the contract, together with periods covered by an option to extend the lease whenever the Group is reasonably certain to exercise that option. Subsequently, the lease liability is measured by increasing the carrying amount to reflect interest on the lease liability and reducing it by lease payments made. In adopting IFRS 16 Leases, the following expedients were applied: • The right of use asset is measured at the value of the lease liability, adjusted for any prepaid or accrued lease payments. • A single discount rate applied to a portfolio of leases with reasonably similar characteristics. • On adoption, the Group used hindsight in determining lease term. • Short-term lease exemption applied to Machinery & Equipment and IT asset classes for leases expiring within 12 months of 1 January 2019. • Reliance on previous assessments on whether leases were onerous immediately before the date of initial application. The Group does not separate lease from non-lease components for each of its lease categories, except for property leases. For property leases, only base rent is included in the calculation of the right of use asset. All low value leases with total minimum lease payments under €5,000 are expensed on a straight line basis. The assessment of low value for a leased asset is made on the basis of the value of an asset when it is (or was) new, regardless of whether the actual asset being leased is new. For leases previously classified as finance leases, the Group recognised the carrying amount of the lease asset and lease liability immediately before transition as the carrying amount of the right of use asset and the lease liability at the date of adoption. The measurement principles of IFRS 16 are only applied after that date. This resulted in measurement adjustments of €6 million relating to non-lease components of finance leases that were included in the lease liability calculation for certain asset classes. The remeasurements to lease liabilities were recognised as adjustments to the related right of use assets immediately after the date of initial application. Lease liabilities are included within Borrowings in our Statement of Financial Position. The following tables summarise the reconciliation of our opening lease liability position under IFRS 16: Operating lease commitments disclosed as at 31 December 2018 (undiscounted) Total € million Within one year 94 After one year but not more than five years 169 More than five years 37 Total minimum lease payments 300 Total € million Total minimum lease payments (discounted) 290 (Less): short-term and low value leases recognised on a straight-line basis as expense (5 ) Add: adjustments as a result of a different treatment of extension and termination options 32 (Less): non-lease components for property leases (5 ) Add: non-lease components for vehicle leases and other 10 Lease operating liability recognised as at 1 January 2019 322 Add: finance lease liabilities recognised as at 31 December 2018 75 Total lease liability recognised as at 1 January 2019 397 Of which are: Current lease liabilities 147 Non-current lease liabilities 250 Right of use assets are included within Property, Plant and Equipment and were initially measured at cost, comprising the initial measurement of the lease liability, plus any direct costs and an estimate of asset retirement obligations, less lease incentives. Subsequently, right of use assets are measured at cost, less accumulated depreciation and any accumulated impairment losses. Depreciation is calculated on a straight line basis over the term of the lease. The recognised right of use assets within Property, Plant and Equipment, and related lease liability amounts recognised as at the adoption date relate to the following asset types: Right of Use Asset category Lease Liability Right of Use Asset € million € million Buildings 212 208 Furniture and office equipment 35 35 Machinery and equipment 5 5 Vehicles 145 145 Total 397 393 The Group’s activities as a lessor are not material and hence the Group determines there is no significant impact on its condensed consolidated interim financial statements. The adoption of IFRS 16 had a diminimus impact on the Group’s profit before tax for the period ended 28 June 2019 . There is no impact on overall cash flows on the Group from the adoption of IFRS 16. However, cash outflows for lease payments are now included within cash flows used in financing activities, within payments of principal on lease obligations. Prior to adoption, cash flows relating to our operating leases were included within cash flows from operating activities, and only finance leases cash flows were classified as financing activities. Extension and termination options Extension and termination options are included in a number of property and equipment leases across the Group. These terms are used to maximise operational flexibility in terms of managing contracts. The majority of extension and termination options held are exercisable only by the Group and not by the respective lessor. In determining the lease term, the Group considers all facts and circumstances associated with exercising an extension or termination option. Extension options (or periods after termination options) are only included in the lease term if the lease is reasonably certain to be extended (or not terminated). The assessment is reviewed if a significant event or a significant change in circumstances occurs which affects this assessment and that is within the control of the lessee.

OPERATING SEGMENT

OPERATING SEGMENT	6 Months Ended
	Jun. 28, 2019
Operating Segments [Abstract]
OPERATING SEGMENT	OPERATING SEGMENT The Group evaluates its segmental reporting under IFRS 8, “Operating Segments”. The Group derives its revenues through a single business activity, which is making, selling and distributing ready-to-drink beverages. The Group operates solely in developed markets in Western Europe and has a homogenous product portfolio across its geographic territories. Based on the governance structure of the Group, including decision making authority and oversight, the Group has determined that the Board is its Chief Operating Decision Maker (CODM). The Board, as the CODM, allocates resources and evaluates performance at a consolidated level and, therefore, the Group has one operating segment. The following table summarises revenue from external customers by geography, which is based on the origin of the sale: Revenue by Geography Six Months Ended 28 June 2019 29 June 2018 € million € million Iberia [1] 1,282 1,210 Germany 1,171 1,112 Great Britain 1,151 1,035 France [2] 967 874 Belgium/Luxembourg 493 482 Netherlands 295 281 Norway 218 212 Sweden 184 184 Iceland 41 45 Total revenue 5,802 5,435 [1] Iberia refers to Spain, Portugal & Andorra. [2] France refers to continental France & Monaco.

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL	6 Months Ended
	Jun. 28, 2019
Intangible Assets [Abstract]
INTANGIBLE ASSETS AND GOODWILL	INTANGIBLE ASSETS AND GOODWILL The following table summarises the movement in net book value for intangible assets and goodwill during the six months ended 28 June 2019 : Intangible assets Goodwill € million € million Net book value as at 31 December 2018 8,384 2,518 Additions 43 — Amortisation expense (25 ) — Currency translation adjustments (10 ) 3 Net book value as at 28 June 2019 8,392 2,521

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	6 Months Ended
	Jun. 28, 2019
Property, plant and equipment [abstract]
PROPERTY, PLANT AND EQUIPMENT	PROPERTY, PLANT AND EQUIPMENT The following table summarises the movement in net book value for property, plant and equipment during the six months ended 28 June 2019 : Total € million Net book value as at 31 December 2018 3,888 Adjustment for adoption of IFRS 16 [1] 322 Additions 293 Disposals (31 ) Depreciation expense (289 ) Currency translation adjustments 1 Net book value as at 28 June 2019 4,184 [1] Adjustment for the adoption of IFRS 16, “Leases” on 1 January 2019, as described in Note 2 . During the period the Group commenced a transformation project relating to our cold drink operations aimed at delivering a modern, differentiated and versatile equipment fleet in order to optimise net cooler placements throughout our markets. As part of this strategy, our capital expenditure on cold drink equipment will focus on the introduction of a new, more cost effective cooler into our markets, whilst reducing maintenance and refurbishment support spending on our older equipment. We began rolling out the new commercial strategy during the first half of 2019. As a result of the operational impact of the strategic changes, we incurred a non-cash restructuring charge in the period of €24 million relating to the write down and accelerated depreciation of aged cold drink equipment assets. We expect the majority of the aged cold drink equipment assets to be removed from customer locations over a reasonable period of time and replaced with newer equipment.

FAIR VALUES AND FINANCIAL RISK

FAIR VALUES AND FINANCIAL RISK MANAGEMENT	6 Months Ended
	Jun. 28, 2019
Fair Value Measurement [Abstract]
FAIR VALUES AND FINANCIAL RISK MANAGEMENT	FAIR VALUES AND FINANCIAL RISK MANAGEMENT Fair Value Measurements All assets and liabilities for which fair value is measured or disclosed in the condensed consolidated interim financial statements are categorised in the fair value hierarchy as described in our 2018 Consolidated Financial Statements. The fair values of the Group’s cash and cash equivalents, trade accounts receivable, amounts receivable from related parties, trade and other payables, and amounts payable to related parties approximate their carrying amounts due to their short-term nature. The fair values of the Group’s borrowings are estimated based on borrowings with similar maturities and credit quality and current market interest rates. These are categorised in Level 2 of the fair value hierarchy as the Group uses certain pricing models and quoted prices for similar liabilities in active markets in assessing their fair values. The total fair value of borrowings as at 28 June 2019 and 31 December 2018 , was €6.6 billion and €5.7 billion , respectively. This compared to the carrying value of total borrowings as at 28 June 2019 and 31 December 2018 of €6.3 billion and €5.6 billion , respectively. Refer to Note 8 for further details regarding the Group’s borrowings. The Group’s derivative assets and liabilities are carried at fair value, which is determined using a variety of valuation techniques, depending on the specific characteristics of the hedging instrument taking into account credit risk. The fair value of our derivative contracts (including forwards, options, cross-currency swaps and interest rate swaps) are determined using standard valuation models. The significant inputs used in these models are readily available in public markets or can be derived from observable market transactions and, therefore, the derivative contracts have been classified as Level 2. Inputs used in these standard valuation models include the applicable spot, forward, and discount rates. The standard valuation model for the option contracts also includes implied volatility, which is specific to individual options and is based on rates quoted from a widely used third-party resource. As at 28 June 2019 and 31 December 2018 , the total value of derivative assets was €13 million and €15 million , respectively. As at 28 June 2019 and 31 December 2018 , the total value of derivative liabilities was €61 million and €71 million , respectively. For assets and liabilities that are recognised in the condensed consolidated interim financial statements on a recurring basis, the Group determines whether transfers have occurred between levels in the hierarchy by re-assessing categorisation at the end of each reporting period. There have been no transfers between Level 1 and Level 2 during the periods presented. Financial Instruments Risk Management Objectives and Policies The Group’s activities expose it to several financial risks including market risk, credit risk, and liquidity risk. Financial risk activities are governed by appropriate policies and procedures to minimise the uncertainties these risks create over the Group’s future cash flows. Such policies are developed and approved by the Group’s Treasury and Commodities Risk Committee through the authority provided to it by the Group’s Board of Directors. There have been no changes in the risk management policies since the year end.

BORROWINGS AND LEASES

BORROWINGS AND LEASES	6 Months Ended
	Jun. 28, 2019
Financial Instruments [Abstract]
BORROWINGS AND FINANCE LEASES	BORROWINGS AND LEASES Borrowings Outstanding The following table summarises the Group’s borrowings as at the dates presented: 28 June 2019 31 December 2018 € million € million Non-current: US$525 million 3.50% Notes 2020 460 456 US$250 million 3.25% Notes 2021 218 216 US$300 million 4.50% Notes 2021 262 261 €350 million Floating Rate Note 2021 350 350 €700 million 0.75% Notes 2022 698 697 €350 million 2.63% Notes 2023 348 348 €500 million 1.13% Notes 2024 496 495 €350 million 2.38% Notes 2025 346 346 €250 million 2.75% Notes 2026 248 248 €400 million 1.50% Notes 2027 395 395 €500 million 1.75% Notes 2028 493 493 €500 million 1.125% Notes 2029 [1] 492 — €500 million 1.88% Notes 2030 495 495 Term loan 2018-2021 [2] 100 274 Lease obligations [3] 275 53 Total non-current borrowings 5,676 5,127 Current: €350 million 2.00% Notes 2019 350 349 EUR commercial paper 170 120 Lease obligations [3] 100 22 Total current borrowings 620 491 ___________________________ [1] In April 2019, the Group issued €500 million , 1.125% notes due 2029. [2] In May and June 2019, €175 million due in 2020 and 2021 were repaid prior to maturity. As at 28 June 2019, €100 million of the term loan remains outstanding with annual repayments due 2021. [3] As at 28 June 2019 these amounts represent the present value of the majority of the Group’s lease obligations, including the effects of adopting IFRS 16. Refer to Note 2 for further details. As at 31 December 2018 these amounts only included the Group’s finance lease obligations.

EQUITY

EQUITY	6 Months Ended
	Jun. 28, 2019
Share Capital, Reserves And Other Equity Interest [Abstract]
EQUITY	EQUITY Share Capital As at 28 June 2019 , the Company had 466,671,427 fully paid ordinary shares of €0.01 each in issue. Shares in issue have one voting right each and no restrictions related to dividends or return of capital. During the six months ended 28 June 2019 , 1,514,347 shares were issued in connection with share-based payment awards. Share buyback programme In connection with the share buyback programme, the Company entered into agreements to purchase €455 million of its own shares during the six months ended 28 June 2019 . In this period, 9,762,986 shares were repurchased by the Company and cancelled. The total cost of the repurchased shares of €457 million , including €2 million of directly attributable tax costs, was deducted from retained earnings. As a result of the cancellation, €0.1 million was transferred from share capital to a capital redemption reserve, representing the nominal value of the shares cancelled. Since the current share buyback programme commenced in 2018 , a total of 22,192,586 shares have been repurchased and cancelled. Dividends On 30 April 2019, the Company declared a first half interim dividend of €0.62 per share, which was paid on 6 June 2019.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 28, 2019
Related Party [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS For the purpose of these condensed consolidated interim financial statements, transactions with related parties mainly comprise transactions between subsidiaries of the Group and the related parties of the Group. Transactions with The Coca-Cola Company (TCCC) TCCC exhibits significant influence over the Group, as defined by IAS 24, “Related Party Disclosures”. As at 28 June 2019 , 18.9% of the total outstanding ordinary shares in the Group were owned by European Refreshments, a wholly owned subsidiary of TCCC. The Group is a key bottler of TCCC products and has entered into bottling agreements with TCCC to sell, make and distribute products of TCCC in the Group’s territories. The Group purchases concentrate from TCCC and also receives marketing funding to help promote the sale of TCCC products. Bottling agreements with TCCC for each of the Group’s territories extend through 28 May 2026 , with terms of 10 years, with each containing the right for the Group to request a 10 -year renewal. Additionally, two of the Group’s 17 Directors were nominated by TCCC, one of whom is also an employee of TCCC. The principal transactions with TCCC are for the purchase of concentrate, syrup and finished product. The following table summarises the transactions with TCCC that directly impacted the Condensed Consolidated Interim Income Statement for the periods presented: Six Months Ended 28 June 2019 29 June 2018 € million € million Amounts affecting revenue [1] 31 29 Amounts affecting cost of sales [2] (1,610 ) (1,429 ) Amounts affecting operating expenses [3] (10 ) 2 Total net amount affecting the Consolidated Income Statement (1,589 ) (1,398 ) [1] Amounts principally relate to fountain syrup and packaged product sales. [2] Amounts principally relate to the purchase of concentrate, syrup, mineral water and juice as well as funding for marketing programmes. [3] Amounts principally relate to certain costs associated with new product development initiatives. The following table summarises the transactions with TCCC that impacted the Consolidated Statement of Financial Position as at the dates presented: 28 June 2019 31 December 2018 € million € million Amount due from TCCC 108 101 Amount payable to TCCC 356 166 Transactions with Cobega companies Cobega exhibits significant influence over the Group, as defined by IAS 24, “Related Party Disclosures”. Cobega S.A. indirectly owned 19.8% of the total outstanding ordinary shares of the Group as at 28 June 2019 through its ownership interest in Olive Partners S.A. Additionally, five of the Group’s 17 Directors, including the Chairman, were nominated by Olive Partners S.A., three of whom are affiliated with Cobega S.A. The principal transactions with Cobega are for the purchase of juice concentrate, packaging materials and mineral water. The following table summarises the transactions with Cobega that directly impacted the Condensed Consolidated Interim Income Statement for the periods presented: Six Months Ended 28 June 2019 29 June 2018 € million € million Amounts affecting revenues [1] 1 — Amounts affecting cost of sales [2] (37 ) (39 ) Amounts affecting operating expenses [3] (8 ) (7 ) Total net amount affecting the Consolidated Income Statement (44 ) (46 ) [1] Amounts principally relate to packaged product sales. [2] Amounts principally relate to the purchase of concentrate, mineral water and packaging materials. [3] Amounts principally relate to certain costs associated with maintenance and repair services and rent. The following table summarises the transactions with Cobega that impacted the Consolidated Statement of Financial Position as at the dates presented: 28 June 2019 31 December 2018 € million € million Amount due from Cobega 6 6 Amount payable to Cobega 23 25 There are no significant transactions with other related parties in the periods presented.

TAXES

TAXES	6 Months Ended
	Jun. 28, 2019
Income Tax [Abstract]
TAXES	TAXES The same accounting policies and methods of computation have been used as described in the 2018 Consolidated Financial Statements , with the exception of taxes on income. Taxes on income in interim periods are accrued using the tax rate that would be applicable to the expected total annual profit or loss. The effective tax rate was 25 percent and 26 percent for the six months ended 28 June 2019 and 29 June 2018 , respectively, and 25 percent and 41 percent for the year ended 31 December 2018 and 31 December 2017 , respectively. Tax Provisions The Group is routinely under audit by taxing authorities in the ordinary course of business. Due to their nature, such proceedings and tax matters involve inherent uncertainties including, but not limited to, court rulings, settlements between affected parties and/or governmental actions. The probability of outcome is assessed and accrued as a liability and/or disclosed, as appropriate. The Group maintains provisions for uncertainty relating to tax matters that it believes appropriately reflect its risk, the carrying amount of which as at 28 June 2019 is included in other non-current liabilities on the Statement of Financial Position. The Group reviews the adequacy of these provisions at the end of each reporting period and adjusts them based on changing facts and circumstances. Due to the uncertainty associated with tax matters, it is possible that at some future date, liabilities resulting from audits or litigation could vary significantly from the Group’s provisions. The Group has received tax assessments in certain jurisdictions for potential tax related to the Group’s purchases of concentrate. The value of the Group’s concentrate purchases is significant, and therefore, the tax assessments are substantial. The Group strongly believes the application of tax has no technical merit based on applicable tax law, and its tax position would be sustained. Accordingly, the Group has not recorded a tax liability for these assessments, and is vigorously defending its position against these assessments.

OTHER NON CURRENT ASSETS

OTHER NON CURRENT ASSETS	6 Months Ended
	Jun. 28, 2019
Subclassifications of assets, liabilities and equities [abstract]
OTHER NON CURRENT ASSETS	As at 28 June 2019 , included within other non-current assets, the Group has a VAT receivable of €198 million , relating to the dispute that began in 2014 between the Spanish Tax Authorities and the Regional Tax Authorities of Bizkaia (Basque Region) as to the responsibility for refunding the VAT to CCEP. During the six months ended 28 June 2019 , the Group was refunded VAT of €126 million (including interest) related to 2017 and 2018. Those periods were blocked by the Spanish Tax Authorities but not subject to the Arbitration Board ruling. The outstanding VAT receivable remains classified as non-current due to the continued delay in the resolution of the matter by the Arbitration Board. We believe it remains a certainty that the amount due plus interest will be refunded to CCEP once the Arbitration Board rules.

PROVISIONS, CONTINGENCIES AND C

PROVISIONS, CONTINGENCIES AND COMMITMENTS	6 Months Ended
	Jun. 28, 2019
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract]
PROVISIONS, CONTINGENCIES AND COMMITMENTS	PROVISIONS, COMMITMENTS AND CONTINGENCIES The following table summarises the movement of provisions for the periods presented: Restructuring Provision Other Provisions [1] Total € million € million € million Balance as at 31 December 2018 223 29 252 Charged/(credited) to profit or loss: Additional provisions recognised 21 1 22 Unused amounts reversed (12 ) — (12 ) Utilised during the period (71 ) — (71 ) Translation — (1 ) (1 ) Balance as at 28 June 2019 161 29 190 ______________________ [1] Other provisions primarily relate to decommissioning provisions, property tax assessment provisions and legal reserves. During the six months ended 28 June 2019 , the Group recorded new provisions totalling €21 million in connection with restructuring activities. These restructuring activities were primarily related to labour productivity and commercial re-organisation programmes in Germany. Commitments There have been no significant changes in commitments since 31 December 2018 . Refer to Note 20 of the 2018 Consolidated Financial Statements for further details about the Group’s commitments. Contingencies There have been no significant changes in contingencies since 31 December 2018 . Refer to Note 20 of the 2018 Consolidated Financial Statements for further details about the Group’s contingencies.

EVENTS AFTER THE REPORTING PERI

EVENTS AFTER THE REPORTING PERIOD	6 Months Ended
	Jun. 28, 2019
Events After Reporting Period [Abstract]
EVENTS AFTER THE REPORTING PERIOD	EVENTS AFTER THE REPORTING PERIOD On 31 July 2019, €100 million of the term loan due in 2021 was repaid prior to maturity.

GENERAL INFORMATION AND BASIS_2

GENERAL INFORMATION AND BASIS OF PREPARATION (Policies)	6 Months Ended
	Jun. 28, 2019
Corporate Information And Statement of IFRS Compliance [Abstract]
Disclosure of Trading seasonality [Text Block]	Trading seasonality Operating results for the first half of 2019 may not be indicative of the results expected for the year ended 31 December 2019 as sales of the Group’s products are seasonal, with the second and third quarters accounting for higher unit sales of the Group’s products than the first and fourth quarters. The seasonality of the Group’s sales volume, combined with the accounting for fixed costs such as depreciation, amortisation, rent and interest expense, impacts the Group’s results for the first half of the year. Additionally, year-over-year shifts in holidays, selling days and weather patterns can impact the Group’s results on an annual or half-yearly basis.
GENERAL INFORMATION AND BASIS OF PREPARATION	GENERAL INFORMATION AND BASIS OF PREPARATION Coca-Cola European Partners plc (the Company) and its subsidiaries (together CCEP, the Group) are a leading consumer goods group in Western Europe making, selling and distributing an extensive range of non-alcoholic ready-to-drink beverages. The Group is the world’s largest independent Coca-Cola bottler based on revenue. CCEP 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. CCEP is a public company limited by shares, incorporated under the laws of England and Wales with the registered number in England of 09717350. The Group’s shares are listed and traded on Euronext Amsterdam, the New York Stock Exchange, London Stock Exchange and on the Spanish Stock Exchanges. The address of the Company’s registered office is Pemberton House, Bakers Road, Uxbridge, Middlesex UB8 1EZ, United Kingdom. These condensed consolidated interim financial statements do not constitute statutory accounts as defined by Section 434 of the Companies Act 2006. They have been reviewed but not audited by the Group’s auditor, unless otherwise stated. The statutory accounts for the Company for the year ended 31 December 2018 , which were prepared in accordance with IFRS as issued by the International Accounting Standards Board (IASB), IFRS as adopted by the European Union and in accordance with the provisions of the Companies Act 2006, have been delivered to the Registrar of Companies. The auditor’s opinion on those accounts was unqualified and did not contain a statement made under section 498 (2) or (3) of the Companies Act 2006. The condensed consolidated interim financial statements of the Group for the six months ended 28 June 2019 were approved and signed by Damian Gammell, Chief Executive Officer on 8 August 2019 having been duly authorised to do so by the Board of Directors. Basis of Preparation and Accounting Policies The condensed consolidated interim financial statements of the Group have been prepared in accordance with the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority and International Accounting Standard 34, “Interim Financial Reporting” (IAS 34) and should be read in conjunction with our 2018 Consolidated Financial Statements. The 2018 Consolidated Financial Statements were prepared in accordance with IFRS as issued by the IASB, IFRS as adopted by the European Union and in accordance with the provisions of the Companies Act 2006. The 2018 Consolidated Financial Statements include a full description of the Group’s accounting policies. The same accounting policies and methods of computation have been used as described in the 2018 Consolidated Financial Statements, with the exception of taxes on income and the adoption of IFRS 16, “Leases” as set out in Note 2. Taxes on income in interim periods are accrued using the tax rate that would be applicable to expected total annual profit or loss. For consistent preparation, the amount within the Condensed Consolidated Interim Statement of Cash Flows for the six months ended 29 June 2018 relating to payments of principal on lease obligations has been presented in line with current year classification. There has been no change in our net cash flows from financing activities for the six months ended 29 June 2018 . Reporting periods Results are presented for the interim period from 1 January 2019 to 28 June 2019 . The Group’s financial year ends on 31 December . For half-yearly reporting convenience, the first six month period closes on the Friday closest to the end of the interim calendar period. There was one less selling day in the six months ended 28 June 2019 versus the six months ended 29 June 2018 , and there will be one more selling day in the second six months of 2019 versus the second six months of 2018 (based upon a standard five-day selling week). The following table summarises the number of selling days, for the years ended 31 December 2019 and 31 December 2018 (based on a standard five-day selling week): Half year Full year 2019 129 261 2018 130 261 Change -1 0 Trading seasonality Operating results for the first half of 2019 may not be indicative of the results expected for the year ended 31 December 2019 as sales of the Group’s products are seasonal, with the second and third quarters accounting for higher unit sales of the Group’s products than the first and fourth quarters. The seasonality of the Group’s sales volume, combined with the accounting for fixed costs such as depreciation, amortisation, rent and interest expense, impacts the Group’s results for the first half of the year. Additionally, year-over-year shifts in holidays, selling days and weather patterns can impact the Group’s results on an annual or half-yearly basis. Exchange rates The Group’s reporting currency is the Euro. CCEP translates the income statements of non-Euro functional currency subsidiary operations to the Euro at average exchange rates and the balance sheets at the closing exchange rate as at the end of the period. The principal exchange rates used for translation purposes in respect of one Euro were: Average for the Six Months Ended Closing as at 28 June 2019 29 June 2018 28 June 2019 31 December 2018 29 June 2018 UK Sterling 1.14 1.14 1.12 1.12 1.13 US Dollar 0.89 0.83 0.88 0.87 0.86 Norwegian Krone 0.10 0.10 0.10 0.10 0.11 Swedish Krone 0.10 0.10 0.09 0.10 0.10 Icelandic Krone 0.01 0.01 0.01 0.01 0.01
Exchange Rates	The Group’s reporting currency is the Euro. CCEP translates the income statements of non-Euro functional currency subsidiary operations to the Euro at average exchange rates and the balance sheets at the closing exchange rate as at the end of the period.
Description Of Accounting Policy For Reporting Periods [Policy Text Block]	Reporting periods Results are presented for the interim period from 1 January 2019 to 28 June 2019 . The Group’s financial year ends on 31 December . For half-yearly reporting convenience, the first six month period closes on the Friday closest to the end of the interim calendar period. There was one less selling day in the six months ended 28 June 2019 versus the six months ended 29 June 2018 , and there will be one more selling day in the second six months of 2019 versus the second six months of 2018 (based upon a standard five-day selling week).

GENERAL INFORMATION AND BASIS_3

GENERAL INFORMATION AND BASIS OF PREPARATION (Tables)	6 Months Ended
	Jun. 28, 2019
Corporate Information And Statement of IFRS Compliance [Abstract]
Number of selling days by quarter	The following table summarises the number of selling days, for the years ended 31 December 2019 and 31 December 2018 (based on a standard five-day selling week): Half year Full year 2019 129 261 2018 130 261 Change -1 0
Exchange rates	The principal exchange rates used for translation purposes in respect of one Euro were: Average for the Six Months Ended Closing as at 28 June 2019 29 June 2018 28 June 2019 31 December 2018 29 June 2018 UK Sterling 1.14 1.14 1.12 1.12 1.13 US Dollar 0.89 0.83 0.88 0.87 0.86 Norwegian Krone 0.10 0.10 0.10 0.10 0.11 Swedish Krone 0.10 0.10 0.09 0.10 0.10 Icelandic Krone 0.01 0.01 0.01 0.01 0.01

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 28, 2019
Earnings per share [abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE Basic earnings per share is calculated by dividing profit after taxes by the weighted average number of shares in issue and outstanding during the period. Diluted earnings per share is calculated in a similar manner, but includes the effect of dilutive securities, principally share options, restricted stock units and performance share units. Share-based payment awards that are contingently issuable upon the achievement of a specified market and/or performance conditions are included in the diluted earnings per share calculation based on the number of shares that would be issuable, if the end of the period was the end of the contingency period. The following table summarises basic and diluted earnings per share calculations for the periods presented: Six Months Ended 28 June 2019 29 June 2018 Profit after taxes attributable to equity shareholders (€ million) 508 417 Basic weighted average number of shares in issue (million) 472 485 Effect of dilutive potential shares (million) 3 4 Diluted weighted average number of shares in issue (million) 475 489 Basic earnings per share (€) 1.08 0.86 Diluted earnings per share (€) 1.07 0.85 As at 28 June 2019 and 29 June 2018 , the Company had 466,671,427 and 486,108,000 shares in issue and outstanding, respectively. For the six months ended 28 June 2019 , there were no outstanding options to purchase shares excluded from the diluted earnings per share calculation. For the six months ended 29 June 2018 , outstanding options to purchase 0.7 million shares were excluded from the diluted earnings per share calculation because the effect of including these options in the computation would have been antidilutive. The dilutive impact of the remaining options outstanding and unvested restricted share units was included in the effect of dilutive securities.
Earnings per share [text block]	The following table summarises basic and diluted earnings per share calculations for the periods presented: Six Months Ended 28 June 2019 29 June 2018 Profit after taxes attributable to equity shareholders (€ million) 508 417 Basic weighted average number of shares in issue (million) 472 485 Effect of dilutive potential shares (million) 3 4 Diluted weighted average number of shares in issue (million) 475 489 Basic earnings per share (€) 1.08 0.86 Diluted earnings per share (€) 1.07 0.85

IFRS16 LEASES (Tables)

IFRS16 LEASES (Tables) - EUR (€) € in Millions	6 Months Ended
	Jun. 28, 2019	Jan. 01, 2019
Disclosure of leases [Abstract]
Lease liabilities		€ (397)
Reconciliation of Operating Lease Liability Position	The following tables summarise the reconciliation of our opening lease liability position under IFRS 16: Operating lease commitments disclosed as at 31 December 2018 (undiscounted) Total € million Within one year 94 After one year but not more than five years 169 More than five years 37 Total minimum lease payments 300
Disclosure of Operating Lease Liabilities and Right of Use Assets	The recognised right of use assets within Property, Plant and Equipment, and related lease liability amounts recognised as at the adoption date relate to the following asset types: Right of Use Asset category Lease Liability Right of Use Asset € million € million Buildings 212 208 Furniture and office equipment 35 35 Machinery and equipment 5 5 Vehicles 145 145 Total 397 393 Total € million Total minimum lease payments (discounted) 290 (Less): short-term and low value leases recognised on a straight-line basis as expense (5 ) Add: adjustments as a result of a different treatment of extension and termination options 32 (Less): non-lease components for property leases (5 ) Add: non-lease components for vehicle leases and other 10 Lease operating liability recognised as at 1 January 2019 322 Add: finance lease liabilities recognised as at 31 December 2018 75 Total lease liability recognised as at 1 January 2019 397 Of which are: Current lease liabilities 147 Non-current lease liabilities 250

OPERATING SEGMENT (Tables)

OPERATING SEGMENT (Tables)	6 Months Ended
	Jun. 28, 2019
Operating Segments [Abstract]
Disclosure of operating segments	The following table summarises revenue from external customers by geography, which is based on the origin of the sale: Revenue by Geography Six Months Ended 28 June 2019 29 June 2018 € million € million Iberia [1] 1,282 1,210 Germany 1,171 1,112 Great Britain 1,151 1,035 France [2] 967 874 Belgium/Luxembourg 493 482 Netherlands 295 281 Norway 218 212 Sweden 184 184 Iceland 41 45 Total revenue 5,802 5,435 [1] Iberia refers to Spain, Portugal & Andorra. [2] France refers to continental France & Monaco.

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL (Tables)	6 Months Ended
	Jun. 28, 2019
Intangible Assets [Abstract]
Summary of carrying amounts of intangible assets and goodwill	The following table summarises the movement in net book value for intangible assets and goodwill during the six months ended 28 June 2019 : Intangible assets Goodwill € million € million Net book value as at 31 December 2018 8,384 2,518 Additions 43 — Amortisation expense (25 ) — Currency translation adjustments (10 ) 3 Net book value as at 28 June 2019 8,392 2,521

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	6 Months Ended
	Jun. 28, 2019
Disclosure of detailed information about property, plant and equipment [line items]
Disclosure of detailed information about property, plant and equipment	The following table summarises the movement in net book value for property, plant and equipment during the six months ended 28 June 2019 : Total € million Net book value as at 31 December 2018 3,888 Adjustment for adoption of IFRS 16 [1] 322 Additions 293 Disposals (31 ) Depreciation expense (289 ) Currency translation adjustments 1 Net book value as at 28 June 2019 4,184 [1] Adjustment for the adoption of IFRS 16, “Leases” on 1 January 2019, as described in Note 2 . During the period the Group commenced a transformation project relating to our cold drink operations aimed at delivering a modern, differentiated and versatile equipment fleet in order to optimise net cooler placements throughout our markets. As part of this strategy, our capital expenditure on cold drink equipment will focus on the introduction of a new, more cost effective cooler into our markets, whilst reducing maintenance and refurbishment support spending on our older equipment. We began rolling out the new commercial strategy during the first half of 2019. As a result of the operational impact of the strategic changes, we incurred a non-cash restructuring charge in the period of €24 million relating to the write down and accelerated depreciation of aged cold drink equipment assets. We expect the majority of the aged cold drink equipment assets to be removed from customer locations over a reasonable period of time and replaced with newer equipment. The following table summarises the movement in net book value for property, plant and equipment during the six months ended 28 June 2019 : Total € million Net book value as at 31 December 2018 3,888 Adjustment for adoption of IFRS 16 [1] 322 Additions 293 Disposals (31 ) Depreciation expense (289 ) Currency translation adjustments 1 Net book value as at 28 June 2019 4,184 [1] Adjustment for the adoption of IFRS 16, “Leases” on 1 January 2019, as described in Note 2 .

BORROWINGS AND LEASES (Tables)

BORROWINGS AND LEASES (Tables)	6 Months Ended
	Jun. 28, 2019
Financial Instruments [Abstract]
Disclosure of borrowings	The following table summarises the Group’s borrowings as at the dates presented: 28 June 2019 31 December 2018 € million € million Non-current: US$525 million 3.50% Notes 2020 460 456 US$250 million 3.25% Notes 2021 218 216 US$300 million 4.50% Notes 2021 262 261 €350 million Floating Rate Note 2021 350 350 €700 million 0.75% Notes 2022 698 697 €350 million 2.63% Notes 2023 348 348 €500 million 1.13% Notes 2024 496 495 €350 million 2.38% Notes 2025 346 346 €250 million 2.75% Notes 2026 248 248 €400 million 1.50% Notes 2027 395 395 €500 million 1.75% Notes 2028 493 493 €500 million 1.125% Notes 2029 [1] 492 — €500 million 1.88% Notes 2030 495 495 Term loan 2018-2021 [2] 100 274 Lease obligations [3] 275 53 Total non-current borrowings 5,676 5,127 Current: €350 million 2.00% Notes 2019 350 349 EUR commercial paper 170 120 Lease obligations [3] 100 22 Total current borrowings 620 491 ___________________________ [1] In April 2019, the Group issued €500 million , 1.125% notes due 2029. [2] In May and June 2019, €175 million due in 2020 and 2021 were repaid prior to maturity. As at 28 June 2019, €100 million of the term loan remains outstanding with annual repayments due 2021. [3] As at 28 June 2019 these amounts represent the present value of the majority of the Group’s lease obligations, including the effects of adopting IFRS 16. Refer to Note 2 for further details. As at 31 December 2018 these amounts only included the Group’s finance lease obligations.

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	6 Months Ended
	Jun. 28, 2019
Related Party [Abstract]
Disclosure of transactions between related parties	The following table summarises the transactions with TCCC that directly impacted the Condensed Consolidated Interim Income Statement for the periods presented: Six Months Ended 28 June 2019 29 June 2018 € million € million Amounts affecting revenue [1] 31 29 Amounts affecting cost of sales [2] (1,610 ) (1,429 ) Amounts affecting operating expenses [3] (10 ) 2 Total net amount affecting the Consolidated Income Statement (1,589 ) (1,398 ) [1] Amounts principally relate to fountain syrup and packaged product sales. [2] Amounts principally relate to the purchase of concentrate, syrup, mineral water and juice as well as funding for marketing programmes. [3] Amounts principally relate to certain costs associated with new product development initiatives. The following table summarises the transactions with TCCC that impacted the Consolidated Statement of Financial Position as at the dates presented: 28 June 2019 31 December 2018 € million € million Amount due from TCCC 108 101 Amount payable to TCCC 356 166 The following table summarises the transactions with Cobega that directly impacted the Condensed Consolidated Interim Income Statement for the periods presented: Six Months Ended 28 June 2019 29 June 2018 € million € million Amounts affecting revenues [1] 1 — Amounts affecting cost of sales [2] (37 ) (39 ) Amounts affecting operating expenses [3] (8 ) (7 ) Total net amount affecting the Consolidated Income Statement (44 ) (46 ) [1] Amounts principally relate to packaged product sales. [2] Amounts principally relate to the purchase of concentrate, mineral water and packaging materials. [3] Amounts principally relate to certain costs associated with maintenance and repair services and rent. The following table summarises the transactions with Cobega that impacted the Consolidated Statement of Financial Position as at the dates presented: 28 June 2019 31 December 2018 € million € million Amount due from Cobega 6 6 Amount payable to Cobega 23 25

PROVISIONS, CONTINGENCIES AND_2

PROVISIONS, CONTINGENCIES AND COMMITMENTS (Tables)	6 Months Ended
	Jun. 28, 2019
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract]
Disclosure of provisions	The following table summarises the movement of provisions for the periods presented: Restructuring Provision Other Provisions [1] Total € million € million € million Balance as at 31 December 2018 223 29 252 Charged/(credited) to profit or loss: Additional provisions recognised 21 1 22 Unused amounts reversed (12 ) — (12 ) Utilised during the period (71 ) — (71 ) Translation — (1 ) (1 ) Balance as at 28 June 2019 161 29 190 ______________________ [1] Other provisions primarily relate to decommissioning provisions, property tax assessment provisions and legal reserves.

EARNINGS PER SHARE - Summary of

EARNINGS PER SHARE - Summary of Basic and Diluted Earnings Per Ordinary Share (Details) - EUR (€) € / shares in Units, € in Millions	6 Months Ended
	Jun. 28, 2019	Jun. 29, 2018
Earnings per share [abstract]
Profit after taxes attributable to equity shareholders (€ million)	€ 508	€ 417
Basic weighted average number of ordinary shares in issue (million) (in shares)	472,000,000	485,000,000
Effect of dilutive potential ordinary shares (million) (in shares)	3,000,000	4,000,000
Diluted weighted average number of ordinary shares in issue (million) (in shares)	475,000,000	489,000,000
Basic earnings per share (in EUR per share)	€ 1.08	€ 0.86
Diluted earnings per share (in EUR per share)	€ 1.07	€ 0.85
Number of shares issued (in shares)	466,671,427	486,108,000
Antidilutive options excluded from diluted earnings per share share (in shares)	0	700,000

IFRS16 LEASES - Narrative (Det

IFRS16 LEASES - Narrative (Details) - EUR (€)	Jun. 28, 2019	Jan. 02, 2019	Jan. 01, 2019
Disclosure of leases [Abstract]
Weighted average incremental borrowing rate applied to lease liabilities			1.30%
Threshold total minimum lease payments for low-value leases	€ 5,000	€ 6,000,000

IFRS16 LEASES - Maturity of Min

IFRS16 LEASES - Maturity of Minimum Lease Payments (Details) € in Millions	Dec. 31, 2018EUR (€)
Disclosure of maturity analysis of operating lease payments [line items]
Undiscounted operating lease commitments disclosed	€ 300
Within one year
Disclosure of maturity analysis of operating lease payments [line items]
Undiscounted operating lease commitments disclosed	94
After one year but not more than five years
Disclosure of maturity analysis of operating lease payments [line items]
Undiscounted operating lease commitments disclosed	169
More than five years
Disclosure of maturity analysis of operating lease payments [line items]
Undiscounted operating lease commitments disclosed	€ 37

IFRS16 LEASES - Lease Liability

IFRS16 LEASES - Lease Liability as of Adoption (Details) - EUR (€) € in Millions	Jan. 01, 2019	Dec. 31, 2018
Disclosure of leases [Abstract]
Total minimum lease payments (discounted)	€ 290
(Less): short-term and low value leases recognised on a straight-line basis as expense	(5)
Add: adjustments as a result of a different treatment of extension and termination options	32
(Less): non-lease components for property leases	(5)
Add: non-lease components for vehicle leases and other	10
Lease operating liability recognised as at 1 January 2019	322
Add: finance lease liabilities recognised as at 31 December 2018		€ 75
Total lease liability recognised as at 1 January 2019	397
Current lease liabilities	147
Non-current lease liabilities	€ 250

IFRS16 LEASES - Lease Liabili_2

IFRS16 LEASES - Lease Liability and Right of Use Asset (Details) € in Millions	Jan. 01, 2019EUR (€)
Disclosure of detailed information about property, plant and equipment [line items]
Lease Liability	€ 397
Right of Use Asset	393
Buildings
Disclosure of detailed information about property, plant and equipment [line items]
Lease Liability	212
Right of Use Asset	208
Furniture and office equipment
Disclosure of detailed information about property, plant and equipment [line items]
Lease Liability	35
Right of Use Asset	35
Machinery and equipment
Disclosure of detailed information about property, plant and equipment [line items]
Lease Liability	5
Right of Use Asset	5
Vehicles
Disclosure of detailed information about property, plant and equipment [line items]
Lease Liability	145
Right of Use Asset	€ 145

OPERATING SEGMENT - Disaggregat

OPERATING SEGMENT - Disaggregation of Revenues From Contracts with Customers (Details) € in Millions	6 Months Ended
	Jun. 28, 2019EUR (€)segment	Jun. 29, 2018EUR (€)
Disclosure of disaggregation of revenue from contracts with customers [line items]
Number of operating segments | segment	1
Total revenue	€ 5,802	€ 5,435
Iberia[1]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Total revenue	1,282	1,210
Germany
Disclosure of disaggregation of revenue from contracts with customers [line items]
Total revenue	1,171	1,112
Great Britain
Disclosure of disaggregation of revenue from contracts with customers [line items]
Total revenue	1,151	1,035
France[2]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Total revenue	967	874
Belgium/Luxembourg
Disclosure of disaggregation of revenue from contracts with customers [line items]
Total revenue	493	482
Netherlands
Disclosure of disaggregation of revenue from contracts with customers [line items]
Total revenue	295	281
Norway
Disclosure of disaggregation of revenue from contracts with customers [line items]
Total revenue	218	212
Sweden
Disclosure of disaggregation of revenue from contracts with customers [line items]
Total revenue	184	184
Iceland
Disclosure of disaggregation of revenue from contracts with customers [line items]
Total revenue	€ 41	€ 45

INTANGIBLE ASSETS AND GOODWIL_2

INTANGIBLE ASSETS AND GOODWILL - Summary of the Carrying Amounts of Intangible Assets and Goodwill (Details) € in Millions	6 Months Ended
	Jun. 28, 2019EUR (€)
Intangible assets
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance at beginning of period	€ 8,384
Additions	43
Amortisation expense	(25)
Currency translation adjustments	(10)
Balance at end of period	8,392
Goodwill
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance at beginning of period	2,518
Additions	0
Amortisation expense	0
Currency translation adjustments	3
Balance at end of period	€ 2,521

PROPERTY, PLANT AND EQUIPMENT -

PROPERTY, PLANT AND EQUIPMENT - Summary of Movement (Details) € in Millions	6 Months Ended
	Jun. 28, 2019EUR (€)
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment beginning of period	€ 3,888
Adjustment for adoption of IFRS 16	322
Additions	293
Disposals	31
Depreciation expense	(289)
Currency translation adjustments	1
Property, plant and equipment end of period	4,184
Cold drink equipment operation [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Restructuring charge	€ 24

FAIR VALUES AND FINANCIAL RIS_2

FAIR VALUES AND FINANCIAL RISK MANAGEMENT - Narrative (Details) - EUR (€) € in Millions	Jun. 28, 2019	Dec. 31, 2018	Jun. 29, 2018
Disclosure Of Fair Value Measurement [Line Items]
Borrowings	€ 6,300	€ 5,600
Assets	19,090	18,216	€ 18,619
Liabilities	12,755	11,652	€ 11,789
Level 2 | Fair value
Disclosure Of Fair Value Measurement [Line Items]
Borrowings	6,600	5,700
Derivatives | Level 2 | Recurring
Disclosure Of Fair Value Measurement [Line Items]
Assets	13	15
Derivatives | Level 2 | Recurring
Disclosure Of Fair Value Measurement [Line Items]
Liabilities	€ 61	€ 71

BORROWINGS AND LEASES - Disclo

BORROWINGS AND LEASES - Disclosure of Carrying Value of Borrowings (Details)	2 Months Ended	6 Months Ended
	Jun. 30, 2019EUR (€)	Jun. 28, 2019EUR (€)	Jun. 29, 2018EUR (€)	Jun. 28, 2019USD ($)	Dec. 31, 2018EUR (€)
Disclosure of detailed information about borrowings [line items]
Borrowings, less current portion		€ 5,676,000,000	€ 5,289,000,000		€ 5,127,000,000
Current portion of borrowings		620,000,000	395,000,000		491,000,000
Repayments on third party borrowings		(175,000,000)	€ 0
US$525 million 3.50% Notes 2020
Disclosure of detailed information about borrowings [line items]
Borrowings, less current portion		€ 460,000,000			456,000,000
Notional amount | $				$ 525,000,000
Borrowings, interest rate		3.50%		3.50%
US$250 million 3.25% Notes 2021
Disclosure of detailed information about borrowings [line items]
Borrowings, less current portion		€ 218,000,000			216,000,000
Notional amount | $				$ 250,000,000
Borrowings, interest rate		3.25%		3.25%
US$300 million 4.50% Notes 2021
Disclosure of detailed information about borrowings [line items]
Borrowings, less current portion		€ 262,000,000			261,000,000
Notional amount | $				$ 300,000,000
Borrowings, interest rate		4.50%		4.50%
€350 million Floating Rate Note 2021
Disclosure of detailed information about borrowings [line items]
Borrowings, less current portion		€ 350,000,000			350,000,000
Notional amount | $				$ 350,000,000
€700 million 0.75% Notes 2022
Disclosure of detailed information about borrowings [line items]
Borrowings, less current portion		698,000,000			697,000,000
Notional amount		€ 700,000,000
Borrowings, interest rate		0.75%		0.75%
€350 million 2.63% Notes 2023
Disclosure of detailed information about borrowings [line items]
Borrowings, less current portion		€ 348,000,000			348,000,000
Notional amount		€ 350,000,000
Borrowings, interest rate		2.63%		2.63%
€500 million 1.13% Notes 2024
Disclosure of detailed information about borrowings [line items]
Borrowings, less current portion		€ 496,000,000			495,000,000
Notional amount		€ 500,000,000
Borrowings, interest rate		1.13%		1.13%
€350 million 2.38% Notes 2025
Disclosure of detailed information about borrowings [line items]
Borrowings, less current portion		€ 346,000,000			346,000,000
Notional amount		€ 350,000,000
Borrowings, interest rate		2.38%		2.38%
€250 million 2.75% Notes 2026
Disclosure of detailed information about borrowings [line items]
Borrowings, less current portion		€ 248,000,000			248,000,000
Notional amount		€ 250,000,000
Borrowings, interest rate		2.75%		2.75%
€400 million 1.50% Notes 2027
Disclosure of detailed information about borrowings [line items]
Borrowings, less current portion		€ 395,000,000			395,000,000
Notional amount		€ 500,000,000
Borrowings, interest rate		1.75%		1.75%
€500 million 1.75% Notes 2028
Disclosure of detailed information about borrowings [line items]
Borrowings, less current portion		€ 493,000,000			493,000,000
Notional amount		€ 500,000,000
Borrowings, interest rate		1.88%		1.88%
€500 million 1.125% Notes 2029
Disclosure of detailed information about borrowings [line items]
Borrowings, less current portion		€ 492,000,000			0
Notional amount		€ 500,000,000
Borrowings, interest rate		1.125%		1.125%
€500 million 1.88% Notes 2030
Disclosure of detailed information about borrowings [line items]
Borrowings, less current portion		€ 495,000,000			495,000,000
Notional amount		€ 500,000,000
Borrowings, interest rate		1.88%		1.88%
Term loan 2018-2021[2]
Disclosure of detailed information about borrowings [line items]
Borrowings, less current portion		€ 100,000,000			274,000,000
Repayments on third party borrowings	€ 175,000,000
€350 million 2.00% Notes 2019
Disclosure of detailed information about borrowings [line items]
Current portion of borrowings		350,000,000			349,000,000
Notional amount		€ 350,000,000
Borrowings, interest rate		2.00%		2.00%
Lease obligations
Disclosure of detailed information about borrowings [line items]
Borrowings, less current portion		€ 275,000,000
Lease obligations
Disclosure of detailed information about borrowings [line items]
Borrowings, less current portion					53,000,000
EUR commercial paper
Disclosure of detailed information about borrowings [line items]
Current portion of borrowings		170,000,000			120,000,000
Lease obligations
Disclosure of detailed information about borrowings [line items]
Current portion of borrowings		€ 100,000,000
Lease obligations
Disclosure of detailed information about borrowings [line items]
Current portion of borrowings					€ 22,000,000

EQUITY - Narrative (Details)

EQUITY - Narrative (Details) € / shares in Units, € in Millions	6 Months Ended	10 Months Ended
	Jun. 28, 2019EUR (€)sharesvote€ / shares	Jun. 28, 2019sharesvote€ / shares	Jun. 29, 2018shares
Disclosure of classes of share capital [line items]
Number of shares issued (in shares) | shares	466,671,427	466,671,427	486,108,000
Dividend rate (in euros per share) | € / shares	€ 0.62
Own shares purchased under share buyback programme	€ 457
Ordinary shares
Disclosure of classes of share capital [line items]
Number of shares issued (in shares) | shares	1,514,347	1,514,347
Par value per share (in dollars/euros per share) | € / shares	€ 0.01	€ 0.01
Number of votes per share in issue | vote	1	1
Share capital
Disclosure of classes of share capital [line items]
Own shares purchased under share buyback programme	€ 0.1
Number of shares cancelled (in shares) | shares	(9,762,986)	(22,192,586)
Retained earnings
Disclosure of classes of share capital [line items]
Own shares purchased under share buyback programme, excluding tax	€ 455
Own shares purchased under share buyback programme	457
Agreement to purchase shares under share buyback programs, tax	€ (2)

EQUITY Rollforward of Shares an

EQUITY Rollforward of Shares and Share Capital (Details) (Details) - shares	6 Months Ended	10 Months Ended
	Jun. 28, 2019	Jun. 28, 2019
Share capital
Disclosure of classes of share capital [line items]
Number of shares cancelled (in shares)	(9,762,986)	(22,192,586)

RELATED PARTY TRANSACTIONS - Na

RELATED PARTY TRANSACTIONS - Narrative (Details)	6 Months Ended
	Jun. 28, 2019director
Disclosure of transactions between related parties [line items]
Number of members of board of directors	17
TCCC | Entities with joint control or significant influence over entity
Disclosure of transactions between related parties [line items]
Percentage ownership	18.90%
Number of members of board of directors	2
Cobega Companies | Entities with joint control or significant influence over entity
Disclosure of transactions between related parties [line items]
Percentage ownership	19.80%
Number of members of board of directors	5
Franchise intangible | TCCC | Entities with joint control or significant influence over entity
Disclosure of transactions between related parties [line items]
Agreement term	10 years
Renewal term	10 years

RELATED PARTY TRANSACTIONS - T

RELATED PARTY TRANSACTIONS - Transactions with TCCC (Details) - TCCC - Entities with joint control or significant influence over entity - EUR (€) € in Millions	6 Months Ended
	Jun. 28, 2019	Jun. 29, 2018	Dec. 31, 2018
Disclosure of transactions between related parties [line items]
Amounts affecting revenue[1]	€ 31	€ 29
Amounts affecting cost of sales[2]	(1,610)	(1,429)
Amounts affecting operating expenses[3]	(10)	2
Total net amount affecting the Consolidated Income Statement	(1,589)	€ (1,398)
Amount due from	108		€ 101
Amounts payable	€ 356		€ 166

RELATED PARTY TRANSACTIONS - Tr

RELATED PARTY TRANSACTIONS - Transactions with Cobega Companies (Details) - Cobega Companies - Entities with joint control or significant influence over entity - EUR (€) € in Millions	6 Months Ended
	Jun. 28, 2019	Jun. 29, 2018	Dec. 31, 2018
Disclosure of transactions between related parties [line items]
Amounts affecting revenue[1]	€ 1	€ 0
Amounts affecting cost of sales[2]	(37)	(39)
Amounts affecting operating expenses[3]	(8)	(7)
Total net amount affecting the Consolidated Income Statement	(44)	€ (46)
Amount due from	6		€ 6
Amounts payable	€ 23		€ 25

TAXES - Narrative (Details)

TAXES - Narrative (Details)	6 Months Ended		12 Months Ended
	Jun. 28, 2019	Jun. 29, 2018	Dec. 31, 2018	Dec. 31, 2017
Income Tax [Abstract]
Effective tax rate	25.00%	26.00%	25.00%	41.00%

OTHER NON CURRENT ASSETS VAT RE

OTHER NON CURRENT ASSETS VAT RECEIVABLE (Details) - Tax Authority, Spain1 [Member] € in Millions	6 Months Ended
	Jun. 28, 2019EUR (€)
Disclosure Of Trade Receivables [Line Items]
Value added tax receivables	€ 198
Refunds from value added tax receivables	€ 126

PROVISIONS, CONTINGENCIES AND_3

PROVISIONS, CONTINGENCIES AND COMMITMENTS - Disclosure of Provisions (Details) € in Millions	6 Months Ended
	Jun. 28, 2019EUR (€)
Disclosure of other provisions [line items]
Increase (decrease) through net exchange differences, other provisions	€ (1)
Reconciliation of changes in other provisions [abstract]
Beginning balance	252
Additional provisions recognised	22
Unused amounts reversed	(12)
Utilised during the period	(71)
Ending balance	190
Restructuring Provision
Disclosure of other provisions [line items]
Increase (decrease) through net exchange differences, other provisions	0
Reconciliation of changes in other provisions [abstract]
Beginning balance	223
Additional provisions recognised	21
Unused amounts reversed	(12)
Utilised during the period	(71)
Ending balance	161
Other Provisions
Disclosure of other provisions [line items]
Increase (decrease) through net exchange differences, other provisions	(1)
Reconciliation of changes in other provisions [abstract]
Beginning balance	29
Additional provisions recognised	1
Unused amounts reversed	0
Utilised during the period	0
Ending balance	€ 29

EVENTS AFTER THE REPORTING PE_2

EVENTS AFTER THE REPORTING PERIOD (Details) - EUR (€) € in Millions	Jul. 31, 2019	Jun. 30, 2019	Jun. 28, 2019	Jun. 29, 2018
Disclosure of non-adjusting events after reporting period [line items]
Repayments of borrowings			€ 175	€ 0
Term loan 2018-2021
Disclosure of non-adjusting events after reporting period [line items]
Repayments of borrowings		€ (175)
Term loan 2018-2021 | Major repayment on borrowings
Disclosure of non-adjusting events after reporting period [line items]
Repayments of borrowings	€ 100