We are a global leader in the growing consumer health market.
By the numbers
of 2023 revenue
We have a clearly defined position and strategy as a premium, specialist, therapeutic oral health player with a number one position in sensitivity with Sensodyne, and a number two position in gum health with parodontax.
of 2023 revenue
The VMS category is highly fragmented with the top 20 players accounting for around 23%1 of the market.
of 2023 revenue
At a global level, the top five players account for c.35%1 of the category, and Haleon is the market leader.
of 2023 revenue
The Respiratory Health category is fragmented globally. The top five players account for 27%1 of the global market.
of 2023 revenue
Haleon has the leading position in Digestive Health driven by strong positions in immediate-relief antacids.
1 Source: Nicholas Hall (2023) and Haleon analysis of third-party market data.
I am pleased to report strong performance with all financial KPIs ahead of our medium-term expectations. After separating from GSK in 2022, Haleon is now on a journey to become more agile and consumer focused with a leading portfolio. During 2023, we examined our processes to ensure that they were fit for purpose and restructured where necessary.
By the numbers
(2022: £10.9bn)
(2022: 13.8%)
(2022: 9.0%)
(2022: £1.8bn)
(2022: 16.8%)
(2022: 11.4%)
(2022: £2.5bn)
(2022: 22.8%)
(2022: 5.9%)
(2022: 11.5p)
(2022: 18.4p)
(2022: 2.4p)
(2022: £2.1bn)
(2022: £1.6bn)
(3.6x as at 31 December 2022)
1 Includes the interim dividend of 1.8p paid on 5 October 2023, and the proposed final dividend of 4.2p per ordinary share. The total dividend represents a payout ratio of c.35% of adjusted earnings (2022: c.30%). For 2022, the payout ratio reflects a proportion of adjusted earnings for the period since listing.
Our strategy is designed to grow our portfolio of leading brands and market categories. We target sustainable above-market growth and attractive returns, with our purpose and culture bringing focus and clarity to the strategic decisions we make. Underpinning the way we run our business are four strategic pillars:
We have several enterprise metrics monitoring performance across the business, from which we select our key performance indicators.
Measures the strength of our existing portfolio.
Our adjusted operating profit is an important indicator of the strength of our business model.
Provides the business with capacity to invest in the business, pay down debt and make shareholder returns.
Reducing our leverage strengthens our balance sheet and maintains our Investment-Grade credit rating.
The attractiveness of our products is key for all our stakeholders, giving them confidence in our ability to increase household penetration and capitalise on new and emerging opportunities.
1 Organic revenue growth, adjusted operating profit, free cash flow and net debt are non-IFRS measures. Definitions and calculations of non-IFRS measures can be found from page 43 of the 2023 Annual Report and Form 20-F.
2 Haleon portfolio revenue growth in 2020 and 2021 was 4.9% and 3.9% respectively which illustrates the performance of the brands that make up the portfolio at the time of the demerger.
Reduction in net Scope 1 and 2 carbon emissions versus 20203
(2022: 44%)
Recycle-ready packaging4
(2022: 65%)
Women in leadership roles
(2022: 43.7%)
Employee engagement
(2022: 80%)
3 The reporting period runs from 1 December 2022 to 30 November 2023. Carbon offsets account for 25% of our market based Scope 1 and 2 carbon emissions. Calculated in accordance with methodology and data improvements, and updated carbon emissions factors for our 2020 baseline, hence the 2022 result differs from the value disclosed in the 2022 Annual Report and Form 20-F.
4 Reporting period runs from 1 July 2022 to 30 June 2023. Recycle-ready means product packaging and devices that are made of materials that are proven to be compatible with existing or emerging recycling infrastructure. In line with the CDP definition of ‘technical recyclability’ this does not take into account whether the collection, sorting, and recycling of the packaging or device happens in practice, at scale, and with reasonable economics.
From the report
Chair's Statement
(0.10MB, PDF)
CEO's Review
(0.13MB, PDF)
Strategic Report
(3.62MB, PDF)
Corporate Governance
(1.79MB, PDF)
Financial Statements
(1.72MB, PDF)
Key Performance Indicators
(0.10MB, PDF)
Online Spreads
(8.34MB, PDF)
Interactive Report
(16.02MB, PDF)
TCFD
(0.18MB, PDF)
Form 20-F
ESEF
(7.7MB, ZIP)
Accessible Report
(11.4MB, PDF)
Request a printed Annual Report and Form 20-F 2023.
Related
