Diageo plc (DEO) Q4 2024 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.267 -- 00:00:02.910 Good morning and welcome to Diageo's 00:00:02.910 -- 00:00:07.996 F24 Preliminary Results Q&A Conference. Your call today will be hosted by Deborah, 00:00:07.996 -- 00:00:13.081 Diageo's CEO, and Lavanya, Diageo's CFO. This conference is being 00:00:13.081 -- 00:00:17.646 recorded. To ask a question today, please press star followed by one on your telephone 00:00:17.646 -- 00:00:21.310 keypad. To withdraw your question, it's star followed by two. 00:00:21.310 -- 00:00:25.195 We are now ready to start the call. Deborah, please go ahead. 00:00:25.195 -- 00:00:30.406 Good morning and thank you for joining our Preliminary Results call for Fiscal 24. 00:00:30.406 -- 00:00:35.871 I hope you've had a chance to read our press release and watch our presentation on Diageo.com. 00:00:36.054 -- 00:00:41.421 Fiscal 24 was a challenging year for both our industry and Diageo as we navigated a volatile 00:00:41.421 -- 00:00:46.929 operating environment across the globe. Group organic net sales declined 0.6% 00:00:46.929 -- 00:00:51.855 and the main driver was materially weaker performance in Latin America and Caribbean 00:00:51.855 -- 00:00:57.369 region. For perspective, if you exclude LAC, organic net sales grew 00:00:57.369 -- 00:01:03.096 plus 1.8%, driven by resilient growth in Africa, Asia Pacific, and Europe regions. 00:01:03.096 -- 00:01:07.983 This offset the decline in North America, which was attributable to a cautious consumer 00:01:07.983 -- 00:01:13.130 environment, retailer inventory adjustments, and the impact of lapping inventory replenishment 00:01:13.130 -- 00:01:18.000 in the prior year. We made good progress against our strategic priorities, and we ended 00:01:18.000 -- 00:01:23.228 fiscal 24 gaining or holding share in over 7...