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Segment information
 12 Months Ended
Dec. 31, 2021
Disclosure of operating segments [abstract]  
Segment information
Segment information
Description of segment and principal activities
Following the Acquisition, the Group performed a review of its segment reporting under IFRS 8, “Operating Segments”. The Group continues to derive its revenues through a single business activity, which is making, moving and selling ready to drink beverages, primarily non-alcoholic beverages. The Acquisition has broadened the Group’s geographic footprint which now includes Australia, New Zealand and Pacific Islands, Indonesia and Papua New Guinea. These territories collectively make up the Australia, Pacific and Indonesia (API) segment. Based on the governance structure of the Group, including decision making authority and oversight, the Group’s Board continues to be its Chief Operating Decision Maker (CODM), and the Group now has two operating segments, Europe, representing the pre-acquisition territories of CCEP, and API. The Board, as the CODM, allocates resources and evaluates performance of its operating segments based on volume, revenue and comparable operating profit. Comparable operating profit excludes items impacting the comparability of period over period financial performance.
The following table provides a reconciliation between reportable segment operating profit and consolidated profit before tax:
Year Ended 31 December 2021
Year Ended 31 December 2020
EuropeAPITotalEuropeAPITotal
€ million€ million€ million€ million€ million€ million
Revenue(A)
11,584 2,179 13,763 10,606 — 10,606 
Comparable operating profit(A)(B)
1,500 272 1,772 1,194 — 1,194 
Items impacting comparability(C)
(256)(381)
Reported operating profit1,516 813 
Total finance costs, net(129)(111)
Non-operating items(5)(7)
Reported profit before tax1,382 695 
(A)If the acquisition had taken place at the beginning of the year, pro forma revenue and pro forma comparable operating profit for API for the year ended 31 December 2021 would have been €3,235 million and €386 million, respectively.
(B)Comparable operating profit includes comparable depreciation and amortisation of €564 million and €162 million for Europe and API respectively, for the year ended 31 December 2021. Comparable depreciation and amortisation charges for the year ended 31 December 2020 totalled €606 million.
(C)Items affecting the comparability of period-over-period financial performance for 2021 include restructuring charges of €153 million (refer to Note 18), acquisition and integration related costs of €49 million (refer to Note 4), and the inventory fair value step up related to acquisition accounting of €48 million (refer to Note 4). Items affecting the comparability for 2020 include restructuring charges of €368 million (refer to Note 18).
No single customer accounted for more than 10% of the Group’s revenue during the years ended 31 December 2021, 31 December 2020 and 31 December 2019.
Revenue by geography
The following table summarises revenue from external customers by geography, which is based on the origin of the sale:
Year ended
31 December 202131 December 202031 December 2019
Revenue:€ million€ million€ million
Iberia(A)
2,495 2,173 2,784 
Germany2,335 2,270 2,432 
Great Britain2,613 2,203 2,412 
France(B)
1,813 1,709 1,897 
Belgium/Luxembourg926 892 1,002 
Netherlands557 529 602 
Norway391 423 437 
Sweden375 337 366 
Iceland79 70 85 
Total Europe11,584 10,606 12,017 
Australia1,359 — — 
New Zealand and Pacific Islands377 — — 
Indonesia and Papua New Guinea443 — — 
Total API2,179 — — 
Total CCEP13,763 10,606 12,017 
(A)Iberia refers to Spain, Portugal and Andorra.
(B)France refers to continental France and Monaco.
Assets by geography
Assets are allocated based on operations and physical location. The following table summarises non-current assets, other than financial instruments and deferred tax assets, by geography:
31 December 202131 December 2020
Assets:€ million€ million
Iberia(A)
6,644 6,696 
Germany3,077 3,138 
Great Britain2,680 2,432 
France(B)
887 920 
Belgium/Luxembourg600 621 
Netherlands432 441 
Sweden379 396 
Norway247 233 
Iceland34 31 
Other unallocated245 220 
Total Europe15,225 15,128 
Australia5,356 — 
New Zealand and Pacific Islands1,751 — 
Indonesia and Papua New Guinea712 — 
Total API7,819 — 
Total CCEP23,044 15,128 
(A)Iberia refers to Spain, Portugal and Andorra.
(B)France refers to continental France and Monaco.