Diageo Plc · LSE:DGE
Diageo — Q1 FY2026 Earnings Presentation
13 slides from Diageo's earnings presentation, Nov 6, 2025
Slide 1: Q1 trading statement Fiscal 26
Q1 trading statement Fiscal 26 Nik Jhangiani, Interim CEO & Deirdre Mahlan, Interim CFO 6th November 2025
Slide 2: Cautionary statements concerning forward-looking statements and non-GAAP financial measures
Cautionary statements concerning forward-looking statements and non-GAAP financial measures and non-GAAP financial measures The following presentation contains ‘forward-looking’ statements. These statements can be identified by the fact that they do not relate only to historical or current facts and
Slide 3: Key messages
FOCUSED ON DELIVERING SUSTAINABLE LONG-TERM GROWTH Key messages • Flat organic net sales growth after c.2.5% impact of Chinese white spirits. Overall positive volume offset by adverse price/mix, largely market-driven • Growth in Europe, LAC and Africa reduced by weakness in Asia Pacific and a softer
Slide 4: Flat Q1 organic net sales growth; reported sales negatively impacted by disposals
FOCUSED ON DELIVERING SUSTAINABLE LONG-TERM GROWTH Flat Q1 organic net sales growth; reported sales negatively impacted by disposals F26 Q1 net sales growth ($m) reported (2.2%) Organic FLAT % 4,986 136 -135 -125 4,875 6 6 F25 Q1 Net Acquisition Exchange Hyperinflation & Volume Price/mix F26 Q1 & Di
Slide 5: Regional organic net sales detail
FOCUSED ON DELIVERING SUSTAINABLE LONG-TERM GROWTH Regional organic net sales detail NAM: weaker US consumer environment Q1 F26 organic net sales growth than expected, tequila category weakness by region Europe: sustained good momentum in Guinness; Europe spirits growth in Türkiye and MENA 3.5% APAC
Slide 6: Accelerate: progressing well with good momentum across the group
FOCUSED ON DELIVERING SUSTAINABLE LONG-TERM GROWTH Accelerate: progressing well with good momentum across the group Operating model Consistent cash Cost savings delivery c.$3bn Deleveraging • More agile global free cash flow operating model • c.$625m cost savings • To be well within programme, over
Slide 7: Reiterate reshaped priorities and focus: sharpening our strategy to drive accelerated growth
FOCUSED ON DELIVERING SUSTAINABLE LONG-TERM GROWTH Reiterate reshaped priorities and focus: sharpening our strategy to drive accelerated growth Deliver sustainable Increase Maximise Optimise top-line growth operating leverage free cash flow returns Re-cut productivity Drive volume growth programme R
Slide 8: Outlook
FOCUSED ON DELIVERING SUSTAINABLE LONG-TERM GROWTH Outlook F26: Organic net sales growth: expect to be flat to slightly down including the impact from Chinese white spirits and a weaker US consumer environment than originally planned for Organic operating profit growth: expect to be low to mid-singl
Slide 9: Key messages
FOCUSED ON DELIVERING SUSTAINABLE LONG-TERM GROWTH Key messages • Flat organic net sales growth after c.2.5% impact of Chinese white spirits. Overall positive volume offset by adverse price/mix, largely market-driven • Growth in Europe, LAC and Africa reduced by weakness in Asia Pacific and a softer
Slide 10: Diageo: Celebrating life, every day, everywhere
DIAGEO Celebrating life, every day, everywhere
Slide 11: Historic growth across regions — organic
FOCUSED ON DELIVERING SUSTAINABLE LONG-TERM GROWTH Historic growth across regions — organic F25 F26 Net sales Q1 Q2 H1 Q3 Q4 H2 FY Q1 North America 2.3 (0.1) 1.0 6.9 (2.3) 2.0 1.5 (2.7) Europe 1.0 0.7 0.8 (0.4) 0.0 (0.2) 0.3 3.5 Asia Pacific (10.9) 5.6 (2.5) 1.6 (9.8) (4.0) (3.2) (7.5) Latin America
Slide 12: Foreign exchange information and estimated impact
FOCUSED ON DELIVERING SUSTAINABLE LONG-TERM GROWTH Foreign exchange information and estimated impact Translation FX rates Foreign exchange estimated impact Currency Spot at Spot at Average Average Using hedged rates already in place and for all 30 June 30 Sept actual Q1 actual Q1 other exposures, sp
Slide 13: Financial/legal appendix: Definitions and reconciliation of non-GAAP measures
Financial/legal appendix: Definitions and reconciliation of non-GAAP measures to GAAP measures Diageo’s strategic planning process is based on certain non-GAAP measures, including organic movements. These non-GAAP measures are chosen for planning and reporting, and some of them are used for incentiv