Financial Performance - Organic net sales increased by 1.7%[9], but excluding the Cîroc transaction, the increase was 1.5%[9] - Organic operating profit decreased by 0.7%[10], attributed to overheads, primarily staff costs and strategic investments[10] - Pre-exceptional EPS decreased by 8.6% to 164.2 cents[10], mainly due to a lower Moët Hennessy contribution and unfavorable FX at 103.48c[10] - Free cash flow increased by $0.1 billion to $2.7 billion[9], driven by strong working capital management[10] Strategic Initiatives - The company is implementing the "Accelerate" program to deliver approximately $625 million in cost savings over 3 years[22], with about 50% reinvested for future growth and 50% dropping through to the bottom line[29] - Capital expenditure for fiscal year 26 is guided to be in the range of $1.2-$1.3 billion[47], moving to mid-single-digit % net sales (fiscal 25: 7.7%) over 3 years[47] - The company aims to be well within the leverage target range of 2.5-3.0x net debt/EBITDA no later than fiscal year 28[23] Market Dynamics - Developed markets accounted for 62% of organic net sales, while emerging markets accounted for 38%[67] - The company gained or held share in 65% of measured markets[65] - Non-alcoholic beverages experienced approximately 40% organic net sales growth[88] Regional Performance - North America: Organic sales growth with share gains in TBA led by Don Julio and Crown Royal[69] - Asia Pacific: Weaker performance in China and Travel Retail offset India growth[65] - Latin America and Caribbean: Return to growth[65], with organic sales growth of 9.2%[68]