Diageo Plc · LSE:DGE
Diageo — H1 F19 Earnings Presentation
8 slides from Diageo's earnings presentation, Feb 5, 2019
Slide 1: Operating profit (£ million)
2,190 (21) 0 (3) 264 2,430 F18H1 Excetional operating items Exchange Acqunsitions and diposals Organic movement F19 h1 (i) Exchange rate movements reflect the translation of prior year reported results at current year exchange rates. Reported net sales grew 5.8%, driven by organic growth which was p
Slide 2: Operating profit and operating margin
Reported operating profit was up 11.0% with organic growth partially offset by exceptional operating items and acquisitions and disposals. Organic operating profit grew ahead of net sales at 12.3%. Table of Contents Operating margin (%) Reported operating margin increased 164bps Organic operating ma
Slide 3: Basic earnings per share (pence)
82.2 (10.5) 0.1 (0.1) 10.4 0.4 2.2 (4.0) 1.1 (0.9) 80.9 F18 H1 Exceptional Discontinued Exchange on Organic Associates and Net finance Tax Other F19 H1 items after tax operations after operating profit operating profit joint ventures charges tax growth(i) Reported operating margin increased 164bps d
Slide 4: Operating cash flow (£ million)
1,248 0 283 (126) 179 23 (3) 1,604 F18 H1 Exchange(ii) Operating Working Tax Interest Other(v) F19 H1 profit(iii) capital(iv) (i) Excluding exchange Basic eps declined 1.3 pence largely due to lapping the benefit of an exceptional tax credit in the prior period following the tax reduction in the Uni
Slide 5: Free cash flow (£ million)
1,029 0 283 (126) (57) 179 23 15 1,346 F18 H1 Capex Exchange(ii) Operating Working Tax Interest Other(v) F19 H1 profit(iii) capital(iv) Net cash from operating activities continued to be strong at £1.6 billion largely driven by operating profit growth and lower tax payments which benefitted from the
Slide 6: Return on invested capital
16.5% 19bps (16)bps 238bps (3)bps (68)bps (35)bps 17.8% F18 H1 Exchange Acquisitions and Organic Associates and Tax Other F19 H1 disposals operating profit joint ventures growth (i) Net cash from operating activities excludes net capex, movements in loans and other investments (2018-(£258) million;
Slide 7: Additional financial information: Summary income statement
(i) ROIC calculation excludes exceptional items. ROIC increased 135bps largely driven by organic operating profit growth which was partially offset by the impact from higher tax charges, acquisitions and disposals and associates and joint ventures. Table of Contents Additional financial information
Slide 8: Category and brand review
Category and brand review Net sales by category Volume by category Marketing spend by category L6,908m 130.5EUm L1,054m Scotch Vodka US whiskey Canadian whisky Rum IMFL whisky Liqueurs Gin Tequila Beer Ready to drink Other North America 34% of total Diageo Net sales by category and region North Amer