Diageo plc · LSE:DGE
Diageo — Q1 FY2027 Earnings Presentation
12 slides from Diageo's earnings presentation, Nov 5, 2026
Slide 1: Fiscal 27 Q1 Trading Statement
Fiscal 27 Q1 Trading Statement Sir Dave Lewis, CEO Nik Jhangiani, CFO 5 November 2026
Slide 2: Cautionary statements concerning forward-looking statements and non-GAAP financial measures
Cautionary statements concerning forward-looking statements 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 may generally, but not always,
Slide 3: In line with expectations, with NAM turnaround underway
In line with expectations, with NAM turnaround underway • Organic net sales +0.6% excluding EABL; volume -0.1% and +0.7% price/mix • Growth in EMEA, LAC, Asia Pacific and India, partly offset by continued weakness in spirits in NAM • Focus in NAM remains on improving competitiveness and plans are in
Slide 4: F27 Q1 key performance metrics
Volume and net sales Organic net sales Organic net sales Reported net sales excluding EABL including EABL F27 Q1 key +0.6% +1.4% +1.2% performance $4,931m metrics Organic volume Price/mix excluding EABL excluding EABL -0.1% +0.7% For additional information on non-GAAP 4 measures please see financial
Slide 5: Regional organic net sales detail
Regional organic net sales detail F27 Q1 organic net sales growth • NAM: volume -3.7% price/mix +0.1%; turnaround by region plan continues, market remains soft • EMEA: volume +4.4% price/mix -2.0%; spirits + RTD the key drivers of growth • APAC: volume +6.2% price/mix -2.1%; strong Asia Pacific Glob
Slide 6: Fiscal 27 outlook unchanged
Fiscal 27 outlook unchanged Broadly flat organic net sales growth (F26: -2.0%) Organic operating profit growth up low-to mid-single-digit (F26: +2.0%) Free cash flow c.$2bn (F26: $3.2bn) after exceptionals and excluding EABL Leverage ratio at end of fiscal 27 at mid-point of target leverage range1,2
Slide 7: Diageo
DIAGEO
Slide 8: Fiscal 27 technical guidance
Fiscal 27 technical guidance Effective tax rate before exceptional items to be c.25% (F26: 24.3%) Effective interest rate to be c.4% (F26: 3.9%) Capex to be c.$1.25bn (F26: $1.2bn) 8
Slide 9: Historic growth across regions — organic
Historic growth across regions — organic F26 F27 Organic net sales Q1 Q2 H1 Q3 Q4 H2 FY Q1 North America (2.7)% (10.8)% (7.0)% (9.6)% (10.7)% (10.2)% (8.5)% (3.6)% EMEA 4.9% 5.0% 4.9% 10.2% 4.7% 7.1% 5.9% 2.4% Asia Pacific (14.8)% (20.6)% (18.0)% (0.5)% (5.7)% (2.9)% (12.0)% 4.1% Latin America & Car
Slide 10: Foreign exchange information and estimated impact
Foreign exchange information and estimated impact Translation FX rates Foreign exchange estimated impact Average Average Using hedged rates already in place and for all Spot at Spot at Currency actual 3m to actual 3m to other exposures, spot exchange rates at 31 31 July 2026 31 Oct 2026 30 Sep 2025
Slide 11: Updated impact of tariffs on US imports
Updated impact of tariffs on US imports 1. Estimated guidance for fiscal 27 assumes: - 10% tariff on EU imports - 0% tariff on UK whisk(e)y; 10% tariff on UK imports ex. whisk(e)y - 50% tariff on Canadian imports in scope; bulk whisky outside scope 2. Estimated impact of F27: c.$100 million pre-miti
Slide 12: 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