Saurabh currently holds two full-time jobs. In one of our fastest ever innovation cycles, we launched these pods in June 2022, following an innovation cycle of just eight months from idea to launch, and quickly achieved a 6% value share within the category. Reckitt Benckiser boss Rakesh Kapoor, one of Britain's highest-earning CEOs, saw his 2016 pay package fall by more than a third following a safety scandal in South Korea that dented the consumer . We are planning for that. But you see, by our margins guidelines and everything else, that it's not going to have a huge setback in terms of to expect the business to deliver. Versus 2019, for the three-year like-for-like net revenue growth was 28%, with volume and price driving this growth, not just price. Let me start with the Health and Hygiene separation, they are 2.0. From a category perspective, we have a very significant OTC portfolio with intimate wellness and germ protection making other meaningful contributions. LONDON, March 1 (Reuters) - Reckitt Benckiser (RKT.L), maker of Dettol and Lysol cleaning products, on Wednesday marginally beat full-year like-for-like net revenue expectations, helped by higher . And Jeff, our CFO, will then take you through our results, plus our 2023 targets. Former Reckitt Benckiser CEO Laxman Narasimhan, who recently joined the world's biggest coffee chain Starbucks, will get an annual salary of approximately $17.5 million (Rs 140 crore) if he . And then the second question, just thinking through the headwind from U.S. infant formula unwind in '23. On Thursday morning, the company said Narasimhan will return to the US for family reasons. We delivered a year of strong revenue growth and profit delivery and free cash flow. Second, we have a clear and consistent consumer category growth model in place. Pinar Ergun, Morgan Stanley. Reckitt Benckiser Chief Executive Laxman Narasimhan will step down at the end of September after three years in the role, the company said on Thursday, and will be replaced by insider and former BAT boss Nicandro Durante. In comparison, his . For media enquiries please contact Faeth Birch (Finsbury): 07768 943171. Our best-in-class program continues to deliver with efficiencies of 800 million during the year, enabling us to achieve our target of 2 billion of efficiencies by the end of 2022, a year earlier than our original target. Reckitt Benckiser Group plc manufactures and sells . See the latest news and investor news from Reckitt. And after a dip in Q3 due to pricing-related customer issues in Western Europe, that all have been resolved by now, our shares are improving month-on-month. These awards remained subject to PepsiCo's performance conditions and full details can be found on page 125 of the 2019 Annual Report. And we also benefit, of course, from a positive foreign exchange rate due to the relative strengthening of the U.S. dollar. We're now generating around $200 million of POS in the U.S. alone. Available in nearly 200 countries, our brands are loved and trusted by people all over the world. It has been phenomenal. If you look at private label, I know that private label has gained some share during the year. Okay. - Extensive proactive talent mapping across functions and roles. So now we've been able to really focus on driving our flywheel in these developing markets. If you have an ad-blocker enabled you may be blocked from proceeding. But just relying on category growth is not enough. So I expect a better trend going for '23. Our brands are available in nearly 200 countries. Found 1,814 of over 5K reviews. Underpinning this financial delivery were further execution improvements across our supply chain. The average salary for Reckitt Benckiser, Inc. employees is $87,702 per year. It's Iain Simpson from Barclays. See here for a complete list of exchanges and delays. I'm excited about the significant opportunities ahead for Dettol in the future, and we are well-positioned to grow the business in 2023 and beyond. We may have innovation in different price points in order to be able to give something for consumers to stick to our brands, to stick to our portfolio. So I think that for those reasons, I expect that volume going for 2023, will be slightly better. Consequently, despite pricing and a strong productivity performance, adjusted operating profit at 1.2 billion was down 18% at constant exchange rates and at a margin of 20.4%, down 330 basis points. But I would be quite interested to gauge a bit your visibility on effectively the potential for the division -- disinfectant platform to be growing this year. 2020 And also anything you can say about the profitability of that part of the business? So I think that we have all the right moves in order to be where we are. I'm very proud and very pleased to say the free cash flow improved year-on-year by 773 million to 2 billion in the year, primarily, of course, driven by our strong operating performance. Now separately, let me just refer to the situation in the U.S. related to the infant formula market. pour nous faire part du problme. Available in nearly 200 countries, our brands are loved and trusted by people all over the world. Unfortunately, we cannot disclose this exactly what's going to be the size of BEI increase, but most of them will be self-financed. Based on our data team's research, Laxman Narasimhan is the Reckitt Benckiser's CEO. The remaining 9% uplift has come from parents outside of the WIC program who increasingly have chosen our brands. We delivered broad-based revenue growth, strong earnings growth, and improved free cash flow, which has enabled us to further delever the balance sheet and increase our dividend. Please bear in mind, things are still fluid, and we don't have a crystal ball either. This new product is clinically proven -- provides clinically proven hydration that allows electrolytes to be absorbed faster, thanks to our proprietary blend of amino acids. Like-for-like revenue growth in Q4 was 6.2%. But I can assure you that with our leading brands and stronger reputation with health care professionals, including being the number one recommended brand by pediatricians in the U.S., we will be fighting hard for every new parent who enters the category in 2023 and beyond. The innovation is coming, R&D. Is the business profitable over there? Following publication of PepsiCo's proxy report on 24 March, the final calculation of vesting was completed. Our retail customers highly value our improved sales capabilities or stronger category growth contribution by our consumer preferred brands and our better customer service. To know first hand how is it like to work at Reckitt Benckiser read detailed reviews by job profile, department and location in the reviews section. So this additional revenue stream to WIC will be zero from March onwards. So turning to Health. Reckitt Benckiser Group plc (OTCPK:RBGPF) Q4 2022 Results Conference Call March 1, 2023 8:00 AM ET, Nicandro Durante - Chief Executive Officer, Volker Kuhn - Chief Transformation Officer, Kris Licht - President of Health business and Chief Customer Officer, Pat Sly - President of Nutrition Business. I will now hand over to Jeff to take you through our financials in more detail and our outlook for 2023. First, we have world-class brands in each of the attractive categories we play in. But I think that I saw Volker stand there, because Volker should be -- some of the -- who would like to complement my speech? And how should we think about those trends into the first half? The 66-year old will receive a salary of 1.1 million pounds ($1.3 million) as Reckitt CEO, the company said, adding that . Specifically, built and led a 3 years, 1.3bn productivity programme, announced by Reckitt's CEO in February 2020, after having successfully led the creation of two autonomous business units and the necessary process and system infrastructure. I look forward to continuing the momentum. The total value of the vesting of these awards, relating to legacy arrangements implemented by his previous employer, was 3,067,845, a reduction of more than 800,000 from the estimate in the 2020 Annual Report. With a growing middle class in developing markets, families are starting to switch from hand washing to using a dishwasher. per informarci del problema. Unilever. The transformation agenda Laxman and the Group Executive has led together is exciting and delivering results. Sure, I can take that. The final tranche of awards vested in March 2021 and were based on PepsiCos performance over the three-year period ending December 2020. So we do see opportunity. We are not yet where we want to be, but I'm pleased that the Company continues to make progress with such important stakeholders. On behalf of the entire Board, I want to thank Laxman for leading the organization through a significant transformation over the last three years. A win for sustainability. Our net revenue from more sustainable products was 24.4% for the year. Becht, however, received the same pay as 3,000 of Reckitt Benckiser's staff last year . As this performance was not known at the date Reckitt finalised its 2020 Annual Report (15 March 2021), the value of the awards was estimated, as set out on page 146 of the report. So there will be an element of that. Brazilian-Italian Durante previously led tobacco giant British American Tobacco (BAT) for eight years until 2019. om ons te informeren over dit probleem. Lists ranking Reckitt Benckiser. This rating has been stable over the past 12 months. So the total season is about 13% above a three-year average. And with a full rollout of our record production system across our factories, we have been able to increase efficiencies across cost sites in 2022 by around 20%. This improvement in net debt, underpinned by strong free cash flow, has enabled us to deleverage to 2.1x adjusted EBITDA from 2.6x. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. After three years as chief executive officer, he's decided step down on Sept. 30. enviando un correo electrnico a And we have an exciting innovation pipeline for the years to come. Some of our key launches include the following: the enhancement of our Enfa brand range with the continued addition of HMOs or human milk oligosaccharides that help support immunity. And now I'm going to hand back to Nicandro. My second question on innovation, and I think it's probably more in Hygiene, that seems to be more on the premium side, which I think about air care, if I think about the Auto Dishwash, just wanted to see how you see the reception with retailers, but how you see that as well with the current environment and private label discussions. We have a question over there. And we extended our market share by 300 basis points, and we have grown revenues with double-digit CAGR. Chairman Chris Sinclair and the nomination committee have started the process to identify "the best long-term candidate to take Reckitt on its next phase of growth", the company said. The second one, in terms of pricing, I think that Pat has mentioned, we are moving to a price increase at the beginning of February, February 1, double digit. At our Capital Markets Day in September 2021, we made the bold assertion that Dettol has stabilized and that we expect it to sustainably grow the business and deliver at around 40% above pre-pandemic levels. Aydanos a proteger Glassdoor y demustranos que eres una persona real. You have that across pretty much all of our categories. Whether you saw any kind of destocking in the latter part of '22, or whether there are actually areas where the retailers are still kind of quite short of stock? I guess it depends how old you are whether brands such as Harpic, Vanish, Dettol and Finish have a lot more relevance for you than Durex or baby food ones, but at least the FTSE 100's Reckitt (RKT) has a bunch of interesting global brands. Further details of the Remuneration Committee's decisions and the pay for Reckitt's Executive Directors are set out on pages 134 . It is a great Company with an incredible team and I am extremely proud of what we have accomplished together in these last three years. Reckitt Benckiser Group plc (Reckitt) today announces that its CEO, Laxman Narasimhan will step down as Chief Executive Officer on September 30, 2022. "I am honoured to have an opportunity to lead Reckitt, a Company that I have been a part of for many years. It is pleasing to see our people leaving our cultural values and bringing their true service to work each day. In the case of supply chain, I have to say that we have done that. We have a strong global presence. I talked about our -- out of this category, we are holding share, but we're growing double digits. But we'll keep an element of that. The hikes contributed to like-for-like growth of 7.6%, which was offset by a 2.2% decline in volumes. One, our supply chain resilience program led to a good recovery of our backfill rate to 96%, a significant advancement versus previous years. This had a significant impact on top line growth and on our adjusted operating profit margins. Due to the shortage of available formula, the government allowed parents to purchase formula for manufacturers who did not hold the WIC contract in that state. The first is on the brand investments. And in fact, it's been relatively immaterial in the last months anyways as shelfs became more stocked with competitive product. So it's a little bit of a strong flu season, but we expect the brands to continue to grow with that kind of pipeline of innovations that we have. Of the other 1.25%, we'd expect to keep an element. So that will be our second answer. No? Moving to air care. That's our model, the model we operate with all our brands. excuses voor het ongemak. It's Alicia Forry at Investec. Thank you, Richard, and welcome, everyone. So is that a sort of maximum or is that a sort of best guess as the outcome at the moment? "It was a surprise to find out Reckitt's CEO is stepping down, having only been in the role for three years and just starting to receive some credibility," said Tineke Frikee, fund manager at Reckitt shareholder Waverton Investment Management. We haven't been able to introduce prices last year because of the situation that we were there when the price has gone through already. Competition in Hygiene categories have intensified in recent years. If you look at share in brands like Mucinex, Strepsils, Lemsip, they are from [indiscernible] against competition. The 66-year old will receive a salary of 1.1 million pounds ($1.3 million) as Reckitt CEO, the company said, adding that he is being appointed on a rolling contract with six months' notice on . Our GBU ambition is anchored in Reckitt's purpose to relentlessly pursue a cleaner and healthier world with purpose-led superior brands. And as long as we deliver, and we will, better products and packaging solutions for the consumer that get the job done better as well as fueling the brands with, again, premiumized innovation as well as driving penetration of the category, the whole pie is growing. Sie weiterhin diese Meldung erhalten, informieren Sie uns darber bitte per E-Mail This is perhaps lower than what we would have achieved because we delayed some planned pricing increases in North America during the year, as it wasn't the right thing to do during a national crisis. We implemented that. I cannot give you much more detail now. Actually, we had a really big Q4 in '21 as well, as we talked about. Moving to our Dettol portfolio. Reckitt was one of the few consumer-goods companies in the most recent earnings season to upgrade its outlook for both sales growth and profitability. We mentioned this to you last year when we initially launched the product. " Fast paced, supportive environment with tools to succeed " (in 260 reviews) " You will learn a lot at RB due to the fast paced nature of the company " (in 45 reviews) Cons. Be part of something bigger. But what is important to me is our internal post survey, where we ask and receive a direct feedback from employees on working at Reckitt. In addition, page 152 of the 2020 Annual Report sets out the CEO pay ratio. So the volumes in Europe, New Zealand, Australia, they have deteriorated in the Q4 at around minus 8%. Nutrition and for our cold and flu products. As this performance was not known at the date Reckitt finalised its 2020 Annual Report (15 March 2021), the value of the awards was estimated, as set out on page 146 of the report. Additional reporting by Johann M Cherian in Bengaluru And fourth, we earned industry-leading margins, thanks to the strength of our brands, our category growth focus and our best-in-class productivity programs. They account for about 90% of our revenues and an even bigger part of AOP. Distributed by Public, unedited and . From a portfolio perspective, we have our core Infant Formula and Child portfolio led by our Enfa family of brands, and we are particularly strong in the fastest-growing segment within this portfolio, products that improve digestion. So they don't suffer that much. A few years ago, we introduced essential mist diffusers in the U.S. By now a $100 million POS segment, and our share is above 90%, and this segment keeps growing. And based on your guidance, it looks like '23 will not substantially change this conclusion. So that's made a big difference. For those of you who might not have met yet, we have Volker Kuhn, our President for Hygiene; Kris Licht, our President for Health; and Pat Sly, our President for Nutrition. For example, we have more than doubled the size of e-commerce platform over the last three years. And as you can see from the chart that we're showing here, the sequential improvement in the quarterly year-on-year Lysol performance has resulted in an improvement in Hygiene business unit such that we saw a return to growth in the fourth quarter with 1.3% like-for-like net revenue growth. A lot of this has to do with being in the right categories. How much do Reckitt employees make? 70% Approve of CEO. Just how you're thinking about comping that in 2023 in terms of kind of the base there. But if you look at quarter one for Lysol against quarter four, quarter three, you see further improvement. Average Reckitt salaries by department include: Design at $113,472, Finance at $106,404, Marketing at $109,041, and IT at $116,213. . Our OTC team have worked hard to broaden the shoulders of our trusted market-leading brands through innovation, entering adjacent categories and even entering some new geographies. This is why we are excited about our future and confident about our Hygiene growth outlook. He led the household goods maker through the pandemic, which boosted sales of its health and hygiene products, and as the company navigated a baby formula crisis in the United States. The two areas that are winning is the high tier, where you get better value, then some dent on the very low tier or smaller sizes and the mid-tier is the one that is struggling. Having held the dividend for some time, we thought that was the right step to take this year. We have a fantastic carryover going for the '23 because the majority of the price was taken at the beginning of the second half. Cost of goods inflation had a more significant impact on Hygiene than our other two business units. However, Lysol is much stronger now than pre-pandemic. 24. Dettol grew net revenues two out of the four quarters of the year, including in Q4. We will continue to focus on capacity and agility within our supply chain and ensure that we keep delivering for both our customers and consumers. Can you discuss the drivers of multiyear margin expansion, of course, beyond easing cost pressures? And if you might end up seeing some sort of reduced flu incidence, then what your assumptions are in terms of guidance? Any other questions in the room? I'm letting you know because this is already in the market, it's public knowledge.
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