Full Year 2024 Reckitt Benckiser Group PLC Earnings Call Transcript
Key Points
- Reckitt Benckiser Group PLC (RBGLY) reported a solid financial performance for 2024, with group net revenue growing by 1.4% in line with guidance.
- The company achieved a 4.6% like-for-like net revenue growth in health and hygiene, excluding seasonal OTC impacts.
- Reckitt Benckiser Group PLC (RBGLY) increased its adjusted operating profit by 8.6%, supported by the fuel for growth program.
- The company returned GBP2.7 billion to shareholders through dividends and share buybacks, marking a 75% increase from the previous year.
- Reckitt Benckiser Group PLC (RBGLY) has made significant progress in organizational simplification, reducing management layers from five to three to enhance decision-making and accountability.
- The company's North American performance was negatively impacted by a weak cold and flu season, affecting seasonal OTC sales.
- Reckitt Benckiser Group PLC (RBGLY) reported a 7.3% decline in like-for-like net revenue for its nutrition segment, primarily due to supply disruptions from a tornado.
- The company faces ongoing litigation challenges related to Mead Johnson Nutrition, which could impact future performance.
- Reckitt Benckiser Group PLC (RBGLY) has set a cautious growth guidance for 2025, reflecting uncertainties in the macroeconomic environment.
- The company acknowledged challenges in the competitive air care market in the US, which could affect Essential Home's performance in the first half of 2025.
Good morning, everybody, and thank you for joining us for the Reckitt full year 2024 results presentation. For those of you that don't know me, I'm Nick Ashworth and I head up Investor Relations here at Reckitt.
So before we start, can I draw your attention to the usual disclaimers in respect of forward-looking information. (Event Instructions) If you have further questions after the event, please feel free to reach out to the IR team and we'll be happy to help.
And so with that said, I will hand over to our CEO, Kris Licht to start the presentation. Kris.
Thank you, Nick, and good morning to everyone in the room and those who have dialed in. I'm joined this morning by our CFO, Shannon Eisenhardt. I'll start with an overview of our 2024 results and some of the key highlights, and then Shannon will take you through the financial performance for the year. I'll then come back and provide
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