Financial Performance - Diageo reported net sales of $20,269 million for fiscal 2024, a decrease of 1% compared to $20,555 million in 2023[4]. - Operating profit for fiscal 2024 was $6,001 million, reflecting an 8% increase from $5,547 million in 2023[4]. - Free cash flow for fiscal 2024 was $2,609 million, up from $2,235 million in 2023, marking a 17% increase[3]. - Earnings per share (EPS) decreased to 173.2 cents in fiscal 2024 from 196.3 cents in 2023, representing a 12% decline[3]. - Total Shareholder Return (TSR) for fiscal 24 was -24%, while the ten-year TSR remained at 6%[27]. - The company increased its dividend by 5%, reflecting confidence in long-term potential[27]. - Profit for the year was $4,166 million in 2024, down from $4,479 million in 2023[175]. - The company reported a basic earnings per share of 173.2 cents[104]. - Return on average invested capital (ROIC) decreased to 15.8%, down 255 basis points mainly due to lower operating profit and increased capital expenditure[98]. Market Strategy and Growth - Diageo aims to increase its Total Beverage Alcohol (TBA) market share from 4% to 6% by 2030, with a current value share of 4.5%[17]. - The spirits category has grown at a compound annual growth rate (CAGR) of 5.1% over the past decade, indicating strong market dynamics[17]. - Diageo's portfolio includes 13 billion-dollar brands, with a strong presence in scotch, vodka, tequila, and gin[13]. - The company plans to become the global leader in whisk(e)y and tequila, leveraging local portfolios and driving growth in Guinness[66]. - Diageo aims to recruit approximately 550 million new legal purchase age consumers into the TBA market by 2033[76]. - The company is committed to adapting to emerging consumer tastes and social occasions to unlock growth opportunities[51]. - Diageo's marketing investment in the region was $235 million, reflecting a 13% decline[154]. Sustainability and Social Responsibility - Diageo's greenhouse gas emissions decreased by 23.8% compared to the previous year, reflecting its commitment to sustainability[6]. - The 'Spirit of Progress' ESG action plan has been refreshed to focus on reducing harmful alcohol use, combating water stress, and addressing climate change[29]. - Diageo is committed to replenishing more water than it uses in its tequila operations in Mexico by 2026, having already replenished over 470,000 cubic meters of water in fiscal 24[30]. - The company aims to enhance water efficiency and reduce greenhouse gas emissions as part of its sustainability strategy[188]. - By fiscal 24, approximately 2.2 million people participated in the SMASHED program, with 1.8 million confirming changed attitudes towards underage drinking[197]. - The company promotes positive drinking through its 'Spirit of Progress' strategy, focusing on education and moderation[195]. Operational Efficiency - The company achieved nearly $700 million in productivity savings, exceeding its three-year productivity goal by $200 million[44]. - Free cash flow generated was $2.6 billion, supported by strong working capital management[29]. - The company has committed to a productivity target of $2 billion over the next three years (fiscal 25-27) through enhanced cost management and supply chain agility[83]. - The company implemented a new Advanced Planning Tool (OMP) across its tequila asset base to enhance supply chain efficiency and respond to demand fluctuations[91]. Regional Performance - In North America, Don Julio tequila grew 15 times faster than the total US spirits industry, and Guinness was the fastest-growing imported beer in the on-trade[47]. - Diageo's organic net sales declined by 0.6% in fiscal 24, primarily due to weaker performance in the Latin America and Caribbean (LAC) region, which accounts for 8% of its organic net sales value[44]. - Reported net sales in Latin America & Caribbean declined 15%, with organic net sales down 21% due to soft demand for international premium spirits and inventory adjustments[151]. - Africa reported net sales of $2,039 million, reflecting a 13% decline, primarily due to unfavorable foreign exchange impacts, while organic net sales grew by 12%[154]. Innovation and Product Development - The company launched its first alcohol-free dark spirit, Captain Morgan Spiced Gold 0.0%, in fiscal 2024[9]. - The global growth of Guinness 0.0 supports increased consumer demand for moderation options, with three of the five largest 0.0 brands globally being Diageo's[78]. - The partnership between Mortlach and Philippe Starck was announced, generating attention for product launches in fiscal 25[78]. - Smirnoff SMASH Tea and Captain Morgan Sliced executed fast launches in North America, winning share in the convenience category[78]. Employee Engagement and Diversity - Employee engagement levels remain high at 81%, with 89% of employees expressing pride in working for Diageo[31]. - The percentage of female leaders globally within Diageo remained stable at 44%[6]. - The company has 40% of its Board and 46% of its leadership from ethnically diverse backgrounds, achieving its 45% leadership representation goal ahead of 2030[92].

Diageo PLC (NYSE:DEO) Preliminary Q4 2024 Q&A Conference Call July 30, 2024 4:30 AM ET Company Participants Debra Crew - CEO Lavanya Chandrashekar - CFO Conference Call Participants Simon Hales - Citi Edward Mundy - Jefferies Celine Pannuti - JPMorgan Mitch Colett - Deutsche Bank Olivier Nicolai - Goldman Sachs Sanjeet Aujla - UBS James Edwardes Jones - RBC Laurence Wyatt - Barclays Sarah Simon - Morgan Stanley Jeremy Fialko - HSBC Fintan Ryan - Goodbody Operator Good morning and welcome to Diageo's F24 Pre ...

Diageo PLC (NYSE:DEO) Preliminary Q4 2024 Q&A Conference Call July 30, 2024 4:30 AM ET Company Participants Debra Crew - CEO Lavanya Chandrashekar - CFO Conference Call Participants Simon Hales - Citi Edward Mundy - Jefferies Celine Pannuti - JPMorgan Mitch Colett - Deutsche Bank Olivier Nicolai - Goldman Sachs Sanjeet Aujla - UBS James Edwardes Jones - RBC Laurence Wyatt - Barclays Sarah Simon - Morgan Stanley Jeremy Fialko - HSBC Fintan Ryan - Goodbody Operator Good morning and welcome to Diageo's F24 Pre ...

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On a reported basis, net sales declined 1.4% year over year to $20.3 billion due to lower organic sales and unfavorable currency impacts. Organic net sales were down 0.6% year over year due to a decline in volume partly offset by a favorable price mix. The company witnessed organic sales decline of 21% and 3% in LAC and North America, respectively. However, organic sales improved 3%, 4% and 12%, respectively, in Europe, Asia Pacific and Africa. Shares of the Zacks Rank #4 (Sell) company have lost 28.2% in t ...

Group 1 - Diageo's shares declined by 5.3% following a disappointing second-quarter earnings report, particularly affected by weak performance in the Americas [4][8] - The company's adjusted operating profit fell by 5% on an organic basis to $5.9 billion, and adjusted earnings per share decreased from $1.97 in 2023 to $1.80 [3][6] - Overall revenue for the fiscal year ending June 20 declined by 1.4% to $20.3 billion, missing estimates of $21.2 billion, with organic sales down 0.6% [5][6] Group 2 - CEO Debra Crew indicated that Fiscal 24 was challenging due to macroeconomic and geopolitical volatility, but expressed confidence in future growth as consumer demand improves [6] - The outlook for 2025 remains cautious, with expectations of continued challenging conditions, although there is hope for improved sales growth when demand recovers [6][7] - Overall volume sales in the quarter decreased by 5%, with declines in all regions except for Europe, which remained flat, and a slight increase of 1% in the Asia-Pacific region [9][10]

Diageo American depositary receipts (ADRs) are plunging Tuesday as its full-year sales through June were dragged lower by declines in Latin America and the Caribbean (LAC) and a weak North American market. CEO Debra Crew said Europe, Africa, and Asia Pacific growth was "resilient," but "materially weaker" LAC sales and a "cautious consumer environment" in North America weighed on results. The company, whose brands include Johnny Walker, Guinness and Smirnoff, reported yearly net sales declined 1.4% to $20.3 ...

Diageo's share price plunged after the drinks giant announced its first sales reversal since the depths of the Covid-19 pandemic. Net sales reversed to $20.3 billion during the 12 months to June, Diageo said, a 1.4% year on year reversal. This was "due to an unfavourable foreign exchange impact and organic net sales decline, partially offset by hyperinflation adjustments," it commented. Revenues were hammered by a disappointing performance in Diageo's Latin America and Caribbean (LAC) territory. Organic net ...

John Morrissey serves pints of Guinness at a traditional Irish pub in Dublin on May 21, 2024, in Dublin, Ireland. Shares of spirits giant Diageo tumbled more than 10% on Tuesday morning, after the Johnnie Walker-maker posted its first sales decline since the start of the pandemic. The London-based company said organic net sales dropped 0.6% in the full-year to June 30, largely due to weakness in the Latin America and Caribbean region. Reported net sales were down 1.4%. Guinness, the Irish stout that gained ...

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