Diageo Plc · LSE:DGE
Diageo — H1 2024 Earnings Presentation
18 slides from Diageo's earnings presentation, Jan 30, 2024
Slide 1: Operating profit ($ million)
(1) See page F-7 for an explanation under Basis of preparation. (2) Exchange rate movements reflect the adjustment to recalculate the reported results as if they had been generated at the prior period weighted average exchange rates. (3) See pages F-15 and 37-40 for details on hyperinflation adjustm
Slide 2: Operating margin (%)
(1) See page F-7 for explanation under Basis of preparation. (2) For further details on exceptional operating items see pages 15 and F-11-F-13. (3) Fair value remeasurements. For further details see page 15. (4) See pages F-15 and 37-40 for details on hyperinflation adjustments. Operating margin (%)
Slide 3: Basic earnings per share (cents)
(1) See page F-7 for an explanation under Basis of preparation. (2) For further details on exceptional operating items see pages 15 and F-11-F-13. (3) Fair value remeasurements and hyperinflation adjustments. For further details on fair value remeasurements see page 15. See pages F-15 and 37-40 for
Slide 4: Net cash from operating activities and free cash flow ($ million)
(1) See page 36 for an explanation of the calculation and use of non-GAAP measures. (2) See page F-7 for an explanation under Basis of preparation. (3) For further details on exceptional items see pages 15 and F-11-F-13. (4) Includes finance charges net of tax. (5) Excludes finance charges related t
Slide 5: Additional financial information: Summary income statement
( 1) Net cash from operating activities excludes net capex ( F24 H1 – $(575) million; F23 H1 – $(506) million ) and movements in loans and other investments. (2) See page F-7 for an explanation under Basis of preparation. (3) Exchange on operating profit before exceptional items. (4) Operating profi
Slide 6: Net sales by market (%)
Reported net sales by market (%) , a ME US Spirits MH DBC USA Canada ME Other (principally Travel Retail)
Slide 7: Europe
Table of Contents 21 Europe • Reported net sales grew 10%, primarily driven by a hyperinflation adjustment (1) related to Turkey and organic growth. • Organic net sales grew 3%, primarily driven by double-digit growth in Turkey and high single-digit growth in Great Britain and Ireland. This was sign
Slide 8: Net sales by market (%)
Reported net sales by market (%) WH Great Britain ™| Southern Europe ™ Northern Europe WH ireland | Eastern Europe ~ Turkey © Other (principally Travel Retail)
Slide 9: Asia Pacific
Table of Contents 23 Asia Pacific • Reported net sales grew 2%, driven by organic growth, partially offset by the disposal of Windsor and the negative impact of foreign exchange. • Organic net sales grew 6%, driven by double-digit growth in Greater China, lapping low single-digit growth in the prior
Slide 10: Net sales by market (%)
Reported net sales by market (%) Wi india ™) Greater China ™ Australia ME South East Asia MY North Asia Other (principally Travel Retail Asia and Middle East)
Slide 11: Latin America and Caribbean
Table of Contents 25 Latin America and Caribbean • Reported net sales declined 18%, reflecting weaker organic performance partially offset by a favourable impact from foreign exchange, mainly due to a strengthening of various major regional currencies. • Organic net sales declined 23%, driven by sof
Slide 12: Net sales by market (%)
Reported net sales by market (%) WW Brazil WS) Mexico ee WE Andean MW South LAC )) Other (principally Travel Retail)
Slide 13: Africa
Table of Contents 27 Africa • Reported net sales declined 12%, reflecting an unfavourable impact from foreign exchange, mainly due to a weakening Nigerian naira and Kenyan shilling, partially offset by organic growth. • Organic net sales grew 9%, with growth across all markets except South Africa. G
Slide 14: Net sales by market (%)
Reported net sales by market (%) MH East Africa © Africa Regional Markets ™ Nigeria WH South Africa © Other (principally Travel Retail)
Slide 15: Corporate net sales and operating profit
Table of Contents 29 Corporate Net sales Corporate net sales principally arise from visitor centres and the global licensing of Diageo brands and trademarks. Corporate net sales were $63 million in the six months ended 31 December 2023, an increase of $12 million compared to the six months ended 31
Slide 16: Volume by category
Reported volume by category
Slide 17: Net sales by category
Reported net sales by category ) J 4
Slide 18: Key brands: organic volume and net sales movement
n Scotch n Vodka n US whiskey n Canadian whisky n Rum n IMFL whisky n Liqueurs n Gin n Tequila n Beer n Ready to drink n Other Key brands (1) : Organic volume movement (2) % Organic net sales movement % Reported net sales movement % Johnnie Walker (7) (5) (3) Guinness (1) 14 6 Smirnoff (8) (1) (1) D