Skip to content
 

Chief Executive's Statement

Outperformance continues

RB has once again met or exceeded its targets.

  • Like-for-like net revenue grew +5% to £9,567m.
  • Excellent growth in emerging market areas of LAPAC1 & RUMEA1;
  • ENA1 performance improved progressively and now back to growth over the year. The last quarter was +3% growth like-for-like.
  • Health & hygiene Powerbrands Durex, Gaviscon, Strepsils, Dettol, Lysol, Harpic and Finish led the growth.
  • Suboxone film reached 64% volume share of the US market.
  • Operating margins2 increased by +70 bps, ahead of target.
  • Adjusted net income2 grew +7% (+10% constant); adjusted diluted earnings2 per share of 264.4p (+7%).
  • Strong cash flow took net debt to £2,426m after dividends, acquisitions and restructuring.
These results are very encouraging and give us confidence that we have the right business strategy, the right organisation, the right growth platforms and the right culture to deliver our long-term goals.

2013 targets

  • Net revenue growth of 5-6% at constant exchange rates, excluding RB Pharmaceuticals.
  • Maintain operating margin2, excluding RB Pharmaceuticals.
For 2012 our health and hygiene revenues were 68% of our core3 geographic portfolio (67% in 2011) and LAPAC and RUMEA were 44% of our core3 geographic portfolio (42% in 2011). This strategic reshaping of our portfolio is ahead of schedule and we have accelerated two of our medium-term KPIs from 2016 to 2015.

Medium-term KPIs

  • Health and hygiene revenues to be 72% of core3 net revenue by end of 2015.
  • LAPAC and RUMEA combined to be equal in net revenue size to ENA by end of 2015.
  • Achieve 200 bps pa of net revenue growth on average above our market growth.
  • Achieve moderate operating margin expansion (excluding RB Pharmaceuticals).
1 Latin America, North Asia, South East Asia, and Australia and New Zealand (LAPAC), Russia and CIS, Middle East, North Africa, Turkey and Sub-Saharan Africa (RUMEA), Europe and North America (ENA)
2 Adjusted to exclude the impact of exceptional items
3 Core includes health, hygiene, home and portfolio brands

Financial Highlights of 2012

Financial Highlights of 2012

Read more

  • Lysol
  • Mucinex
  • Frenchs
  • Airwick
  • Nurofen
  • Vanish
  • Durex
  • Clearasil
  • Dettol
  • Cillet Bang
  • Strepsils
  • Scholl
  • Gaviscon
  • Mortein
  • Woolite
  • Veet
  • harpic
  • Calgon
  • Finish

This site uses cookies. By continuing to browse the site without disabling them, you consent to our use of cookies. To learn more about the types of cookies we use, please view our cookie policy.

Continue using the site