Pepsi report a "solid performance" in 2004
CEO says that new products and packages as well as outstanding execution helped the company to manage some challenging conditions this year and ultimately deliver a solid performance in 2004.
"New products and packages as well as outstanding execution helped us to manage some challenging conditions this year and ultimately deliver a solid performance in 2004," said John T. Cahill, Chairman and Chief Executive Officer of PBG. "In the US, we achieved very balanced topline growth for the year, driven by a double-digit increase in our non-carbonated portfolio and fairly balanced contributions of rate and mix to our net revenue per case improvement”, he added. Cahill reported a “terrific year” for European operations in 2004, with Russia and Turkey delivering strong double-digit volume growth. Innovation fueled our growth in each of our territories, while the company’s core brands performed equally well.
PBG’s US business grew net revenue per case by four percent for the quarter and three percent for the full year, while worldwide net revenue per case was up three percent in both the fourth quarter and the year. Meanwhile the Company generated net cash provided by operations of $1.3 billion with capital expenditures of $717 million. This resulted in net cash provided by operations less capital expenditures of $534 million, a 21-percent increase over prior year.
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