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Haleon announced their 2022 Q3 Trading Statement for three months ended 30 September 2022.

Another quarter of strong growth underpinned by positive volume/mix

  • Q3 Reported revenue +16.1%; organic +8.1% with 5.5% price, 2.6% volume/mix
  • 9m Reported revenue +14.4%; organic +10.3% with 4.0% price, 6.3% volume/mix
  • E-commerce 9% of total revenue with continued growth in the high teens
  • Healthy power brand Q3 organic revenue growth +7.4%; 9m +11.3%

Pricing and efficiencies offsetting inflationary pressures

  • Q3 Reported operating profit +12.2% to £569m; margin 19.7% down 70bps
  • Q3 Adjusted operating profit2 increased 14.9% to £725m
    • Margin 25.1% down 20bps on a reported basis; down 90bps constant currency
    • Pricing and increased efficiencies fully offset inflationary pressures
    • Decline due to guided standalone costs and adverse transactional FX

Increased financial flexibility despite adverse currency

  • Net debt £10,784m; further £250m of £1.5bn term loan recently repaid

Upgrade to full year guidance

  • FY22 organic revenue growth now expected at 8.0-8.5%
  • FY Adjusted operating profit margin2 expected to be slightly above last year at actual exchange rates (FY21: 22.8%), given recent favourable translational FX movements3

Haleon delivered another strong quarter of growth in Q3 with 8% organic revenue growth and double digit growth for the nine months, with increased pricing through the year and continued positive volume/mix. We saw accelerated growth in the third quarter in Oral Health, whilst strong comparatives in Vitamins, Minerals and Supplements resulted in category revenue down slightly overall sales were similar to earlier quarters. Respiratory performance was strong given sustained incidences of Covid and cold and flu combined with successful innovation. Looking ahead given this positive momentum, we now expect FY organic revenue to be between 8.0-8.5% and have updated margin expectations for more favourable currency.

Overall Haleon is demonstrating its strength in a challenging market environment. Whilst macroeconomic conditions remain volatile and uncertain, we remain confident that the quality of our portfolio, disciplined execution of our strategy, and continued investment will enable Haleon to deliver on medium term guidance

Brian McNamara

Chief Executive Officer, Haleon 

Adjusted results Reported results
Period ended 30 September (unaudited) 2022 vs 2021   2022 vs 2021
Three months Organic revenue growth2   8.1% Three months revenue £2,892m 16.1%
Nine months Organic revenue growth2   10.3% Nine months revenue £8,080m 14.4%


FY22 organic revenue growth now expected at 8.0-8.5%.

At H1 Results we guided to FY22 adjusted operating profit margin slightly down at constant currency. Operational performance remains as expected with pricing and increased efficiencies fully offsetting inflationary pressures, albeit we now would expect an increase in the adverse transactional FX impact from recent currency movements of up to 30bps.

Adjusted operating margin in FY22 is now expected to be slightly above last year at actual exchange rates (FY21: 22.8%), given recent favourable translational FX movements3.

Presentation for analysts and shareholders:

A short presentation followed by Q&A will be hosted by Tobias Hestler, Chief Financial Officer and Sonya Ghobrial, Head of Investor Relations at 9 am GMT (10 am CET) on 10 November 2022, which can be accessed at

For analysts and shareholders wishing to ask questions on the Q&A call, please use the dial-in details below which will have a Q&A facility:

UK: 0800 640 6441

US: +1 855 9796 654

All other: +44 203 936 2999

Passcode: 724755

An archived webcast of the Q&A call will be available later on the day of the results and can be accessed at

Financial reporting calendar

FY 2022 Results

March 2023

Q1 2023 Trading Statement

May 2023

HY 2023 Results

August 2023




Sonya Ghobrial

+44 7392 784784

Zoe Bird

+44 7736 746167

Rakesh Patel

+44 7552 484646

Nidaa Lone

+44 7841 400607

Emma White

+44 7792 750133

Ross Whittam

+44 7796 204198

Email: [email protected]

Email: [email protected]

About Haleon plc

Haleon (LSE / HLN, NYSE: HLN) is a global leader in consumer health, with brands trusted by millions of consumers globally. The group employs over 22,000 people across 170 markets, who are united by Haleon’s purpose - to deliver better everyday health with humanity. Haleon’s product portfolio spans five major categories - Oral Health, Vitamins, Minerals and Supplements (VMS), Pain Relief, Respiratory Health, Digestive Health and Other. Its long-standing brands - such as Advil, Sensodyne, Panadol, Voltaren, Theraflu, Otrivin, Polident, parodontax and Centrum - are built on trusted science, innovation and deep human understanding.

For more information, please visit

For the full report please view here.

  1. All numbers within the release are unauditedand are organic unless referenced otherwise. The commentary in this announcement contains forward looking statements and should be read in conjunction with the cautionary note on page 8
  2. Organic revenue growth, Adjusted operating profit, Adjusted operating profit margin are non-IFRS measures; definitions and calculations of non-IFRS measures can be found on pages 8-12
  3. Assuming spot rates as at 31 October 2022 are sustained