Reckitt Benckiser Group plc (RKT) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

So good morning, everybody, and thank you for joining us for Rekit's full year 2025 results presentation. I'm Nick Ashworth, I head investor relations here at Rekit. So before we start, can I draw your attention to the usual disclaimers in respect to forward-looking information? So presenting today, we have our CEO, Chris Licht, and our CFO, Shannon Eisenhardt. Following the presentation will be the usual Q&A session. We're going to take questions from the room first, as we always do, and then followed by the written questions via the webcast. For those of you who have joined online, please feel free to submit your questions via the questions tab, which I think is at the top of the screen, and I will read them out. And if you've got further questions after the event, please feel free to reach out to me or the team, and we'll be happy to help. So with that said, I'm going to hand over to our CEO, Chris Lick, to start the presentation. Thank you, Nick. And good morning to everyone in the room and those who have dialed in. I'll start with an overview of our 2025 results and some of the key highlights from the year. And then Shannon will take you through our financial performance. I'll then come back and provide an update on our key priorities for 2026 and some of the elements of our winning playbook. After that, we'll both be happy to take your questions. 2025 was a year of strong financial delivery as we continue to deliver on our strategy. Core record net revenue grew 5.2% ahead of our improved half-year guidance of above 4%. Group net revenue increased 5%, including lead Johnson growth at 3.8%. This was driven by emerging markets, with China and India growing double digits in the fourth quarter. In our developed markets, a weaker season held back growth, and the cons...