Coca-Cola Europacific Partners is the largest Coca-Cola bottler by revenue in the world, operating across Western Europe, the Iberian Peninsula, and the Asia Pacific region through the Europe and APS segments, and the H1 2026 print (period ended 3 July 2026) showed the volume and revenue growth translating into a clean operating-profit expansion. Total revenue of €10,724 million was 4.4 percent above the prior-year period, comparable operating profit of €1,481 million was 8.1 percent above on a FX-neutral basis, and comparable diluted EPS of €2.20 was 10.6 percent above on a FX-neutral basis. The combination of the 5.6 percent volume growth on a reported basis, the 2.2 percent volume growth on a days-adjusted basis, the 6.1 percent revenue growth on a FX-neutral basis, the 0.4 percent revenue per UC decline (showing mix-led growth rather than price-led growth), the 8.1 percent comparable operating profit growth on a FX-neutral basis, the 10.6 percent comparable diluted EPS growth on a FX-neutral basis, and the €0.82 interim dividend is the cleanest single read on what the global bottler business model is producing. The question the next twelve months resolve is whether the volume growth can continue through the second half of fiscal 2026 and whether the FX-neutral revenue growth pace can be sustained.