H1 2020 Results & COVID-19 Update

Principal Risk	Definition and impact	Key Mitigation	Change vs 2019 Integrated Report
Business continuity	Our business is vulnerable to a range of risks that may materialize and cause disruption. These include threats and risks such as physical attacks (e.g. terrorism) and cyber-attacks, IT system outages and supplier failure as well as natural hazards such as fire, flood, severe weather and pandemics. In some cases, such as the current situation with the COVID-19 pandemic, health, economic and legal effects could have a direct or indirect impact on our ability to operate.	• People: safety, communication and support in line with government guidelines • Customers: working closely with suppliers, partners and TCCC to ensure we best serve our customers • Communities: working closely with TCCC to support our communities • Governance: strong frameworks, business continuity plans, incident management, strategic business continuity scenario testing, risk reassessments used in business planning, increased frequency of reviews with country leadership teams, Board of Directors and TCCC incorporating learnings from the Coca-Cola System • Effective management of liquidity, costs and discretionary spend	↑
Climate change and water	Political and scientific consensus indicates that increased concentrations of carbon dioxide and other greenhouse gasses (GHGs) are causing climate change and exacerbating water scarcity. Such GHG emissions occur across our entire value chain including our manufacturing operations, cold drink equipment and transportation. GHG emissions also occur as a result of the packaging we use and ingredients we rely on. Our ingredients and production facilities also rely heavily on the availability of water. This exposes us to the risk of negative impacts related to our ability to produce or distribute our products, or the availability and price of agricultural ingredients and raw materials as a result of increased water scarcity. Failure to address these risks may cause damage to our corporate reputation or investor confidence, a reduction in consumer acceptance of our products and potential disruption to our operations.	• Set science based carbon reduction targets for our core business operations and our value chain • Carbon reduction plans for our manufacturing operations, distribution and cold drink equipment • Transition to 100% renewable electricity • External policy leadership and advocacy to support a transition to a low-carbon economy • Life cycle analysis to assess carbon footprint of packaging formats • Use of recycled materials for our packaging, which have a lower carbon footprint • Source Water Vulnerability Assessment (SVAs) and Source Water Protection Plans (SWPPs) to protect future sustainability of local water sources • Supplier engagement on carbon reduction and sustainable water use • Assessment on climate related risks and future climate scenario planning • Comprehensive disclosure of GHG emissions across our value chain in line with GHG Protocol	→
Competitiveness and transformation	We are continuing our strategy of assessing potential opportunities for continuous improvements that would enable us to stay competitive in the future. The impact of the COVID-19 pandemic has accelerated the urgency for assessing potential opportunities and taking appropriate action. This includes technology transformation, including to support increased working from home, continuous supply chain improvements and improvements in the way we work with our partners and franchisors. This exposes us to the risk of ineffective coordination between business units and central functions, change fatigue in our people and social unrest. As a result, we may not create the expected value from these initiatives or execute our business plans effectively. We may also experience damage to our corporate reputation, a decline in our share price, industrial action and disruption to our operations.	• Regular competitiveness reviews ensuring effective steering, high visibility and quick decision making • Dedicated programme management office and effective project management methodology • Continuation and strengthening of governance routines • Regular ELT and Board reviews and approvals of progress and issue resolution	→
Cyber and social engineering attacks and IT infrastructure	We rely on a complex IT landscape, using both internal and external systems, including some systems that are outside our direct control where employees work from home. These systems are potentially vulnerable to adversarial and accidental security and cyber threats, as well as user behaviour. This threat profile is dynamically changing, including as a result of the COVID-19 pandemic, as potential attackers' skills and tools advance. This exposes us to the risk of unauthorised data access, compromised data accuracy and confidentiality, the loss of system operation or fraud. As a result, we could experience disruption to operations, financial loss, regulatory intervention, or damage to our reputation.	• Proactive monitoring of cyber threats and implementing preventive measures • Business awareness and training on information security and data privacy • Business continuity and disaster recovery programmes • A programme to identify and resolve vulnerabilities • Third party risk assessments • Corporate security business intelligence • Appropriate investment in updating systems	→
Economic and political conditions	Our industry is sensitive to economic conditions such as commodity and currency price volatility, inflation, political instability (for example, Brexit), lack of liquidity and funding resources, widening of credit risk premiums, unemployment and furlough, and consumer confidence or the impact of the widespread outbreak of infectious disease such as COVID-19. This exposes us to the risk of an adverse impact on CCEP and our consumers, driving a reduction of spend within our category or a change in consumption channels and packs. As a result, we could experience reduced demand for our products, fail to meet our growth priorities and our reputation could be adversely impacted. Adverse economic conditions could also lead to increased customer and supplier delinquencies and bankruptcies, while restrictions on the movement of goods in response to economic, political or other conditions, such as COVID-19, could affect our supply chain.	• Diversified product portfolio and the geographic diversity of our operations assist in mitigating our exposure to any localised economic risk • Our flexible business model allows us to adapt our portfolio to suit our customers' changing needs during economic downturns • We regularly review our business results and cash flows and, where necessary, rebalance capital investments • A Brexit working group monitors the progress of negotiations and applicable rules and regulations so that the business is prepared to manage likely scenarios	↑
Legal, regulatory and tax change	Our daily operations are subject to a broad range of regulations at EU and national level. These include regulations covering manufacturing, the use of certain ingredients, packaging, labelling requirements, and the distribution and sale of our products. This exposes us to the risk of legal, regulatory or tax changes that may adversely impact our business. As a result, we could face new or higher taxes, higher labour and other costs, stricter sales and marketing controls, or punitive or other actions from regulators or legislative bodies that negatively impact our financial results, business performance or licence to operate. The COVID-19 pandemic has resulted in both short-term and long-term changes to legislation and regulation. It may also lead to future increases in taxes to finance the cost of government responses to the COVID-19 pandemic. In addition, the identification of obesity as a factor worsening the effects of COVID-19 may lead to the introduction of additional or revised legislation and regulation. We expect Brexit to lead to increased diversity of regulation and consequent costs of compliance including inability to or difficulties in standardising product and process.	• Working with regulators and industry partners in our territories to implement deposit return schemes • Continuous monitoring of new or changing regulations and appropriate implementation of adequate mitigations • Dialogue with government representatives and input to public consultations on new or changing regulations • Effective compliance programmes and training for employees • Measures set out elsewhere in this table in relation to legal, regulatory and tax changes with respect to any of the other principal risks, and in particular in relation to (1) Packaging and (2) Perceived health impact of our beverages and ingredients, and changing consumer preferences	↑
Market	Our success in the market depends on a number of factors. These include actions taken by our competitors, route to market, our ability to build strong customer relationships and realise price increases (which could be affected by customer consolidation, buying groups, and the changing customer landscape) and government actions, including those introduced as a result of the COVID-19 pandemic such as social distancing, the forced closure of some of our customer channels, restricted tourism and restrictions on large gatherings. This exposes us to the risk that market forces may limit our ability to execute our business plans effectively. As a result, we may be unable to expand margins, increase market share, or negotiate with customers effectively, and the COVID-19 pandemic may also further adversely impact the market in previously unforeseen ways.	• Shopper insights and price elasticity assessments • Pack and product innovation • Promotional strategy • Commercial policy • Collaborative category planning with customers • Growth centric customer investment policies • Business development plans aligned with our customers • Diversification of portfolio and customer base • Realistic budgeting routines and targets • Investment in key account development and category planning • Continuous evaluation and updating of mitigation plans	→
Packaging	Due to our stakeholders' and our concerns about the environmental impacts of litter, our packaging (especially single use plastic packaging) is under increasing scrutiny from regulators, consumers and customers, and NGOs. As a result, we may have to change our packaging strategy and mix over both the short and long term. This could result in a reduction in demand for single use plastic packaging, and we may be liable for increased costs related to the design, collection, recycling and littering of our packaging. We may be unable to respond in a cost effective manner and our reputation may be adversely impacted.	• Continued sustainability action plan focused on packaging, including our commitments to: - Ensure that 100% of our primary packaging is recyclable or refillable - Drive higher collection rates, aiming to ensure that 100% of our packaging is collected for recycling - Ensure that by 2023 at least half of the material we use for our PET bottles comes from recycled plastic • Work with TCCC to explore alternative sources of rPET and innovative new packaging materials • Work with TCCC to encourage consumers to recycle their packaging using existing collection infrastructure • Establishment of a cross functional SPO with a dedicated focus on packaging collection • Support for well designed deposit return schemes across our markets as a route to 100% collection and increased availability of rPET • Work to expand delivery mechanisms that do not rely on single use packaging, for example refillable packaging and dispensed delivery	→
People	The direct and indirect effects of COVID-19 may impact our people, their health and wellbeing and working conditions. Our response may affect the perception of CCEP as an employer and our ability to attract, retain and motivate existing and future employees, which exposes us to the risk of not having the right talent, required technical skillset, or expected levels of productivity. As a result, we could fail to achieve our strategic objectives and could experience a decline in employee engagement or industrial action. CCEP is committed to ensuring that everyone working throughout our operations and within our supply chain is treated with dignity and respect, in line with our human rights policy, which exposes us to the risk of misconduct by third parties. As a result, we could suffer from reputational damage or litigation.	• Regular communication • Employee assistance programme • Flexible working • Working from home • Safety measures • Appropriate incentivisation • Talent reviews • Tools for employees to take ownership of careers • People related training, risk assessments, action plans and compliance, including The Code of Conduct, Supplier Guiding Principles, Sustainable Agriculture Principles	↑
Perceived health impact of our beverages and ingredients, and changing consumer buying trends	We make and distribute products containing sugar and alternative sweeteners. Healthy lifestyle campaigns, increased media scrutiny and social media have led to an increasingly negative perception of these ingredients among consumers. In addition, the identification of obesity as a factor worsening the effects of COVID-19 may indirectly affect the perception of our products. This exposes us to the risk that we will be unable to evolve our product and packaging choices quickly enough to satisfy changes in consumer preferences. As a result, we could experience sustained decline in sales volume, which could impact our financial results and business performance.	• Reducing the sugar content of our soft drinks, through: - Product and pack innovation and reformulation - Managing our product mix to increase low and no calorie products • Making it easier for consumers to cut down on sugar by providing straightforward product information and smaller pack sizes • EU wide soft drink industry calorie reduction commitment with the Union of European Soft Drinks Associations (UNESDA) • Adopting calorie and sugar reduction commitments at country level • Dialogue with government representatives, NGOs, local communities and customers • Employee communication and education • On pack communication of product and nutritional information enhanced • Responsible sales and marketing codes	→
Product quality	We produce a wide range of products, all of which must adhere to strict food safety requirements. This exposes us to the risk of failing to meet, or being perceived as failing to meet, the necessary standards, which could lead to compromised product quality. As a result, our brand reputation could be damaged and our products could become less popular with consumers.	• TCCC standards and audits • Hygiene regimes at plants • Total quality management programme • Robust management systems • ISO certification • Internal governance audits • Quality monitoring programme • Customer and consumer monitoring and feedback • Incident management and crisis resolution	→
Relationships with TCCC and other franchisors	We conduct our business primarily under agreements with TCCC and other franchisors. This exposes us to the risk of misaligned incentives or strategy, particularly during periods of low category growth or crisis such as COVID-19. As a result, TCCC or other franchisors could act adversely to our interests with respect to our business relationship.	• Clear agreements govern the relationships • Incidence pricing agreement with TCCC • Aligned long-range planning and annual business planning processes • Ongoing pan-European and local routines between CCEP and franchise partners • Increased frequency of meetings and maintenance of positive relationships at all levels • Regular contact and best practice sharing across the Coca-Cola System	→
Stakeholders	Continuously building trust and dialogue with stakeholders is critical as CCEP pursues sustainable growth while creating a better future for our business, our communities and the planet. The COVID-19 pandemic has exacerbated the pressure on our key stakeholders due to elevated economic, political and societal distress. This exposes us to the risk of failing to balance and address the different stakeholders and CCEP's interests while managing through the crisis, particularly in the context of enabling a green recovery. As a result, this may cause a negative reaction from our key stakeholders and could damage CCEP's reputation and the Coca-Cola brand.	• Consider stakeholder interests and expectations in taking decisions • Direct and indirect engagement with relevant stakeholders to understand their interests and expectations and to explain our decisions and considerations • Develop and leverage strong communication plans and tools to accompany decision making and external engagement • Refresh and leverage our socio-economic impact data to support decision making and communication	↑

Companies

Coca-Cola Europacific Partners (DI) (CCEP)

UK 100

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H1 2020 Metric^[1]	As Reported	Comparable	Change vs H1 2019
H1 2020 Metric^[1]	As Reported	Comparable	As Reported		Comparable		Comparable Fx-Neutral
Volume (m unit cases)^[2]	1,040		(14.5)	%	(14.0)	%
Revenue (€M)	4,837	4,837	(16.5)	%	(16.5)	%	(16.0)	%
Cost of sales (€M)	3,168	3,168	(12.0)	%	(12.0)	%	(11.5)	%
Operating expenses (€M)	1,401	1,271	(5.5)	%	(11.5)	%	(11.0)	%
Operating profit (€M)	268	398	(63.0)	%	(48.5)	%	(48.0)	%
Profit after taxes (€M)	126	259	(75.0)	%	(52.0)	%	(52.0)	%
Diluted EPS (€)	0.28	0.57	(74.0)	%	(50.0)	%	(50.0)	%
Revenue per unit case (€)		4.68					(2.0)	%
Cost of sales per unit case (€)		3.07					3.5	%
Free cash flow (€M)		(5)

	Second-quarter					First-half
	As reported			Fx-Neutral		As reported			Fx-Neutral
	€ million	% change		% change		€ million	% change		% change
Great Britain	531	(14.5)	%	(13.5)	%	1,026	(11.0)	%	(10.5)	%
France _{(France & Monaco)}	395	(25.0)	%	(25.0)	%	808	(16.5)	%	(16.5)	%
Germany	497	(22.5)	%	(22.5)	%	1,014	(13.5)	%	(13.5)	%
Iberia _{(Spain, Portugal & Andorra)}	388	(48.0)	%	(48.0)	%	917	(28.5)	%	(28.5)	%
Northern Europe^[1]	548	(20.0)	%	(17.5)	%	1,072	(13.0)	%	(11.0)	%
Total	2,359	(26.5)	%	(26.0)	%	4,837	(16.5)	%	(16.0)	%

	Second-quarter				First-half
	% of Total		% Change		% of Total		% Change^[1]
Sparkling	90.5	%	(17.5)	%	88.5	%	(11.0)	%
Coca-Cola^TM	67.5	%	(16.5)	%	66.5	%	(10.0)	%
Flavours, Mixers & Energy	23.0	%	(21.5)	%	22.0	%	(14.0)	%
Stills	9.5	%	(47.5)	%	11.5	%	(31.0)	%
Hydration	5.0	%	(54.0)	%	6.5	%	(36.0)	%
RTD Tea, RTD Coffee, Juices & Other^[2]	4.5	%	(37.0)	%	5.0	%	(23.0)	%
Total	100.0	%	(22.0)	%	100.0	%	(14.0)	%

First Six Months 2020 Unaudited, in millions of € except per share data which is calculated prior to rounding	As Reported	Items Impacting Comparability						Comparable
	CCEP	Mark-to-market effects^[1]		Restructuring Charges^[2]		Net tax^[3]		CCEP
Revenue	4,837	-		-		-		4,837
Cost of sales	3,168	-		-		-		3,168
Gross profit	1,669	-		-		-		1,669
Operating expenses	1,401	(6)		(124)		-		1,271
Operating profit	268	6		124		-		398
Total finance costs, net	55	-		-		-		55
Non-operating items	2	-		-		-		2
Profit before taxes	211	6		124		-		341
Taxes	85	1		33		(37)		82
Profit after taxes	126	5		91		37		259

Diluted earnings per share (€)	0.28	0.01		0.20		0.08		0.57

Diluted weighted average shares outstanding								457
First Six Months 2019 Unaudited, in millions of € except per share data which is calculated prior to rounding	As Reported		Items Impacting Comparability				Comparable
	CCEP		Mark-to-market effects^[1]		Restructuring Charges^[2]		CCEP
Revenue	5,802		-		-		5,802
Cost of sales	3,594		(1)		4		3,597
Gross profit	2,208		1		(4)		2,205
Operating expenses	1,482		4		(51)		1,435
Operating profit	726		(3)		47		770
Total finance costs, net	49		-		-		49
Non-operating items	(1)		-		-		(1)
Profit before taxes	678		(3)		47		722
Taxes	170		(1)		12		181
Profit after taxes	508		(2)		35		541

Diluted earnings per share (€)	1.07		-		0.07		1.14

Diluted weighted average shares outstanding							475

Supplemental Financial Information - Revenue
Revenue In millions of €, except per case data which is calculated prior to rounding. FX impact calculated by recasting current year results at prior year rates.	Second-Quarter Ended					Six Months Ended
	26 June 2020	28 June 2019		% Change		26 June 2020	28 June 2019		% Change
As reported	2,359	3,218		(26.5)	%	4,837	5,802		(16.5)	%
Adjust: Total items impacting comparability	-	-		-	%	-	-		-	%
Comparable	2,359	3,218		(26.5)	%	4,837	5,802		(16.5)	%
Adjust: Impact of fx changes	23	n/a		(0.5)	%	27	n/a		(0.5)	%
Comparable and fx-neutral	2,382	3,218		(26.0)	%	4,864	5,802		(16.0)	%

Revenue per unit case	4.59	4.84		(5.0)	%	4.68	4.78		(2.0)	%
Revenue by Geography In millions of €	Second Quarter Ended 26 June 2020					Six months ended 26 June 2020
	As reported	Reported % change		Fx-Neutral % change		As reported	Reported % change		Fx-Neutral % change
	As reported	Reported % change		Fx-Neutral % change		As reported	Reported % change		Fx-Neutral % change
Iberia^[1]	388	(48.0)	%	(48.0)	%	917	(28.5)	%	(28.5)	%
Germany	497	(22.5)	%	(22.5)	%	1,014	(13.5)	%	(13.5)	%
Great Britain	531	(14.5)	%	(13.5)	%	1,026	(11.0)	%	(10.5)	%
France^[2]	395	(25.0)	%	(25.0)	%	808	(16.5)	%	(16.5)	%
Northern Europe^[3]	548	(20.0)	%	(17.5)	%	1,072	(13.0)	%	(11.0)	%
Total	2,359	(26.5)	%	(26.0)	%	4,837	(16.5)	%	(16.0)	%

Comparable Volume - Selling Day Shift In millions of unit cases, prior period volume recast using current year selling days	Second-Quarter Ended						Six Months Ended
	26 June 2020		28 June 2019		% Change		26 June 2020		28 June 2019		% Change
Volume	519		665		(22.0)	%	1,040		1,214		(14.5)	%
Impact of selling day shift	n/a		-		n/a		n/a		(8)		n/a
Comparable volume - Selling Day Shift adjusted	519		665		(22.0)	%	1,040		1,206		(14.0)	%
Comparable Volume by Brand Category Adjusted for selling day shift	Second-Quarter Ended						Six Months Ended
	26 June 2020		28 June 2019		Volume % Change		26 June 2020		28 June 2019		% Change
	% of Total		% of Total		Volume % Change		% of Total		% of Total		% Change
Sparkling	90.5	%	85.5	%	(17.5)	%	88.5	%	86.0	%	(11.0)	%
Coca-Cola^TM	67.5	%	62.5	%	(16.5)	%	66.5	%	63.5	%	(10.0)	%
Flavours, Mixers & Energy	23.0	%	23.0	%	(21.5)	%	22.0	%	22.5	%	(14.0)	%
Stills	9.5	%	14.5	%	(47.5)	%	11.5	%	14.0	%	(31.0)	%
Hydration	5.0	%	9.0	%	(54.0)	%	6.5	%	8.5	%	(36.0)	%
RTD Tea, RTD Coffee, Juices & Other^[1]	4.5	%	5.5	%	(37.0)	%	5.0	%	5.5	%	(23.0)	%
Total	100.0	%	100.0	%	(22.0)	%	100.0	%	100.0	%	(14.0)	%

Cost of Sales In millions of €, except per case data which is calculated prior to rounding. FX impact calculated by recasting current year results at prior year rates.	Six Months Ended
	26 June 2020	28 June 2019	% Change
As reported	3,168	3,594	(12.0)	%
Adjust: Total items impacting comparability	-	3	-	%
Comparable	3,168	3,597	(12.0)	%
Adjust: Impact of fx changes	20	n/a	(0.5)	%
Comparable & fx-neutral	3,188	3,597	(11.5)	%

Cost of sales per unit case	3.07	2.96	3.5	%

Operating Expenses In millions of €	Six Months Ended
Operating Expenses In millions of €	26 June 2020	28 June 2019	% Change
As reported	1,401	1,482	(5.5)	%
Adjust: Total items impacting comparability	(130)	(47)	(6.0)	%
Comparable	1,271	1,435	(11.5)	%
Adjust: Impact of fx changes	5	n/a	(0.5)	%
Comparable & fx-neutral	1,276	1,435	(11.0)	%

Supplemental Financial Information - Free Cash Flow
Free Cash Flow In millions of €	Six Months Ended
Free Cash Flow In millions of €	26 June 2020	28 June 2019
Net cash flows from operating activities	353	844
Less: Purchases of property, plant and equipment	(241)	(260)
Less: Purchases of capitalised software	(33)	(44)
Less: Interest paid, net	(59)	(53)
Add: Proceeds from sales of property, plant and equipment	35	11
Less: Payments of principal on lease obligations	(60)	(61)
Free Cash Flow	(5)	437

Supplemental Financial Information - Adjusted EBITDA
Adjusted EBITDA In millions of €	Six Months Ended
Adjusted EBITDA In millions of €	26 June 2020	28 June 2019
Reported profit after tax	126	508
Taxes	85	170
Finance costs, net	55	49
Non-operating items	2	(1)
Reported operating profit	268	726
Depreciation and amortisation^[1]	332	314
Reported EBITDA	600	1,040

Items impacting comparability
Mark-to-market effects^[1]	6	(3)
Restructuring charges^[2]	95	22
Adjusted EBITDA	701	1,059

Damian Gammell	Manik Jhangiani
Chief Executive Officer	Chief Financial Officer

		26 June 2020	31 December 2019	28 June 2019
	Note	€ million	€ million	€ million
ASSETS
Non-current:
Intangible assets	4	8,395	8,506	8,392
Goodwill	4	2,514	2,520	2,521
Property, plant and equipment	5	4,030	4,205	4,184
Non-current derivative assets		4	3	3
Deferred tax assets		10	27	41
Other non-current assets		313	321	286
Total non-current assets		15,266	15,582	15,427
Current:
Current derivative assets		9	12	10
Current tax assets		13	18	8
Inventories		795	723	945
Amounts receivable from related parties	9	95	106	114
Trade accounts receivable		1,776	1,669	1,974
Other current assets		216	259	230
Cash and cash equivalents		893	316	382
Total current assets		3,797	3,103	3,663
Total assets		19,063	18,685	19,090
LIABILITIES
Non-current:
Borrowings, less current portion	7	6,343	5,622	5,676
Employee benefit liabilities		350	221	134
Non-current provisions	11	54	54	116
Non-current derivative liabilities		34	13	40
Deferred tax liabilities		2,122	2,203	2,160
Non-current tax liabilities		261	254	228
Other non-current liabilities		45	47	52
Total non-current liabilities		9,209	8,414	8,406
Current:
Current portion of borrowings	7	762	799	620
Current portion of employee benefit liabilities		15	17	18
Current provisions	11	172	142	74
Current derivative liabilities		63	28	21
Current tax liabilities		81	95	157
Amounts payable to related parties	9	232	249	379
Trade and other payables		2,697	2,785	3,080
Total current liabilities		4,022	4,115	4,349
Total liabilities		13,231	12,529	12,755
EQUITY
Share capital		5	5	5
Share premium		184	178	167
Merger reserves		287	287	287
Other reserves		(647)	(449)	(567)
Retained earnings		6,003	6,135	6,443
Total equity		5,832	6,156	6,335
Total equity and liabilities		19,063	18,685	19,090

	Average for the Six Months Ended		Closing as at
	26 June 2020	28 June 2019	26 June 2020	31 December 2019	28 June 2019
UK Sterling	1.15	1.14	1.10	1.18	1.12
US Dollar	0.91	0.89	0.89	0.89	0.88
Norwegian Krone	0.09	0.10	0.09	0.10	0.10
Swedish Krone	0.09	0.10	0.10	0.10	0.09
Icelandic Krone	0.01	0.01	0.01	0.01	0.01

		Total
		€ million
Net book value as at 31 December 2019		4,205
Additions		197
Disposals		(14)
Depreciation expense		(303)
Currency translation adjustments		(55)
Net book value as at 26 June 2020^[1]		4,030

	Restructuring Provision	Other Provisions^[1]	Total
	€ million	€ million	€ million
Balance as at 31 December 2019	168	28	196
Charged/(credited) to profit or loss:
Additional provisions recognised	90	3	93
Unused amounts reversed	(4)	-	(4)
Utilised during the period	(56)	(1)	(57)
Translation	-	(2)	(2)
Balance as at 26 June 2020	198	28	226