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1 |
Diageo Recast unaudited historical financial information |
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Year ended 30 June 2023 | Year ended 30 June 2022 | Year ended 30 June 2021 | |||||||||
Sterling | |||||||||||
Income statement and cash flows(1) |
0.83 | 0.75 | 0.74 | ||||||||
Assets and liabilities(2) |
0.79 | 0.83 | 0.72 | ||||||||
Euro | |||||||||||
Income statement and cash flows(1) |
0.96 | 0.89 | 0.84 | ||||||||
Assets and liabilities(2) |
0.93 | 0.96 | 0.84 |
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Diageo Recast unaudited historical financial information |
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Year ended 30 June 2023 | Year ended 30 June 2022 | Year ended 30 June 2021 | |||||||||
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Sales | 28,270 | 29,751 | 25,858 | ||||||||
Excise duties | (7,715) | (9,235) | (8,667) | ||||||||
Net sales | 20,555 | 20,516 | 17,191 | ||||||||
Cost of sales | (8,289) | (7,923) | (6,803) | ||||||||
Gross profit | 12,266 | 12,593 | 10,388 | ||||||||
Marketing | (3,663) | (3,616) | (2,920) | ||||||||
Other operating items | (3,056) | (3,080) | (2,432) | ||||||||
Operating profit | 5,547 | 5,897 | 5,036 | ||||||||
Non-operating items | 364 | (88) | 20 | ||||||||
Finance income | 409 | 661 | 377 | ||||||||
Finance charges | (1,121) | (1,217) | (881) | ||||||||
Share of after tax results of associates and joint ventures | 443 | 555 | 452 | ||||||||
Profit before taxation | 5,642 | 5,808 | 5,004 | ||||||||
Taxation | (1,163) | (1,398) | (1,222) | ||||||||
Profit for the year | 4,479 | 4,410 | 3,782 | ||||||||
Attributable to: | |||||||||||
Equity shareholders of the parent company | 4,445 | 4,280 | 3,595 | ||||||||
Non-controlling interests | 34 | 130 | 187 | ||||||||
4,479 | 4,410 | 3,782 | |||||||||
Weighted average number of shares | million | million | million | ||||||||
Shares in issue excluding own shares | 2,264 | 2,318 | 2,337 | ||||||||
Dilutive potential ordinary shares | 7 | 7 | 8 | ||||||||
2,271 | 2,325 | 2,345 | |||||||||
cents | cents | cents | |||||||||
Basic earnings per share | 196.3 | 184.6 | 153.8 | ||||||||
Diluted earnings per share | 195.7 | 184.1 | 153.3 | ||||||||
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Year ended 30 June 2023 | Year ended 30 June 2022 |
Year ended 30 June 2021 | |||||||||
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Other comprehensive income | |||||||||||
Items that will not be recycled subsequently to the income statement | |||||||||||
Net remeasurement of post employment benefit plans | |||||||||||
Group | (771) | 820 | 21 | ||||||||
Associates and joint ventures | 16 | 6 | 5 | ||||||||
Non-controlling interests | — | (1) | — | ||||||||
Tax on post employment benefit plans | 193 | (164) | (62) | ||||||||
Changes in the fair value of equity investments at fair value through other comprehensive income | (5) | (15) | — | ||||||||
(567) | 646 | (36) | |||||||||
Items that may be recycled subsequently to the income statement | |||||||||||
Exchange differences on translation of foreign operations | |||||||||||
Group | (906) | 756 | (1,191) | ||||||||
Associates and joint ventures | 132 | (570) | 232 | ||||||||
Non-controlling interests | (100) | (83) | 28 | ||||||||
Net investment hedges | 499 | (829) | 1,093 | ||||||||
Exchange loss recycled to the income statement | |||||||||||
On disposal of foreign operations | 15 | 143 | — | ||||||||
On step acquisition | 2 | — | — | ||||||||
Tax on exchange differences - group | 2 | (21) | (1) | ||||||||
Tax on exchange differences - non-controlling interests | — | — | (2) | ||||||||
Effective portion of changes in fair value of cash flow hedges | |||||||||||
Hedge of foreign currency debt of the group | 7 | 309 | (402) | ||||||||
Transaction exposure hedging of the group | 328 | (230) | 137 | ||||||||
Hedges by associates and joint ventures | 29 | (20) | (1) | ||||||||
Commodity price risk hedging of the group | (67) | 104 | 56 | ||||||||
Recycled to income statement - hedge of foreign currency debt of the group | 65 | (319) | 236 | ||||||||
Recycled to income statement - transaction exposure hedging of the group | (16) | 57 | 13 | ||||||||
Recycled to income statement - commodity price risk hedging of the group | (39) | (61) | (3) | ||||||||
Tax on effective portion of changes in fair value of cash flow hedges | (46) | 42 | (8) | ||||||||
Hyperinflation adjustments | 229 | 431 | (12) | ||||||||
Tax on hyperinflation adjustments | (49) | (87) | 3 | ||||||||
85 | (378) | 178 | |||||||||
Other comprehensive (loss)/income, net of tax, for the year |
(482) | 268 | 142 | ||||||||
Profit for the year |
4,479 | 4,410 | 3,782 | ||||||||
Total comprehensive income for the year |
3,997 | 4,678 | 3,924 | ||||||||
Attributable to: | |||||||||||
Equity shareholders of the parent company | 4,063 | 4,632 | 3,711 | ||||||||
Non-controlling interests | (66) | 46 | 213 | ||||||||
Total comprehensive income for the year |
3,997 | 4,678 | 3,924 |
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Diageo Recast unaudited historical financial information |
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30 June 2023 | 30 June 2022 | 30 June 2021 | ||||||||||||||||||
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Non-current assets | ||||||||||||||||||||
Intangible assets | 14,506 | 14,401 | 14,962 | |||||||||||||||||
Property, plant and equipment | 7,738 | 7,076 | 6,741 | |||||||||||||||||
Biological assets | 197 | 114 | 93 | |||||||||||||||||
Investments in associates and joint ventures | 4,825 | 4,418 | 4,597 | |||||||||||||||||
Other investments | 71 | 45 | 56 | |||||||||||||||||
Other receivables | 39 | 45 | 50 | |||||||||||||||||
Other financial assets | 497 | 418 | 454 | |||||||||||||||||
Deferred tax assets | 178 | 138 | 139 | |||||||||||||||||
Post employment benefit assets | 1,210 | 1,878 | 1,414 | |||||||||||||||||
29,261 | 28,533 | 28,506 | ||||||||||||||||||
Current assets | ||||||||||||||||||||
Inventories | 9,653 | 8,584 | 8,402 | |||||||||||||||||
Trade and other receivables | 3,427 | 3,549 | 3,315 | |||||||||||||||||
Assets held for sale | — | 269 | — | |||||||||||||||||
Corporate tax receivables | 292 | 180 | 202 | |||||||||||||||||
Other financial assets | 437 | 303 | 169 | |||||||||||||||||
Cash and cash equivalents | 1,813 | 2,765 | 3,821 | |||||||||||||||||
15,622 | 15,650 | 15,909 | ||||||||||||||||||
Total assets | 44,883 | 44,183 | 44,415 | |||||||||||||||||
Current liabilities | ||||||||||||||||||||
Borrowings and bank overdrafts | (2,142) | (1,842) | (2,589) | |||||||||||||||||
Other financial liabilities | (453) | (538) | (357) | |||||||||||||||||
Share buyback liability | — | (141) | (127) | |||||||||||||||||
Trade and other payables | (6,678) | (7,123) | (6,459) | |||||||||||||||||
Liabilities held for sale | — | (74) | — | |||||||||||||||||
Corporate tax payables | (170) | (305) | (203) | |||||||||||||||||
Provisions | (150) | (192) | (192) | |||||||||||||||||
(9,593) | (10,215) | (9,927) | ||||||||||||||||||
Non-current liabilities | ||||||||||||||||||||
Borrowings | (18,649) | (17,543) | (17,883) | |||||||||||||||||
Other financial liabilities | (941) | (850) | (534) | |||||||||||||||||
Other payables | (463) | (459) | (470) | |||||||||||||||||
Provisions | (306) | (312) | (380) | |||||||||||||||||
Deferred tax liabilities | (2,751) | (2,807) | (2,704) | |||||||||||||||||
Post employment benefit liabilities | (471) | (486) | (798) | |||||||||||||||||
(23,581) | (22,457) | (22,769) | ||||||||||||||||||
Total liabilities | (33,174) | (32,672) | (32,696) | |||||||||||||||||
Net assets | 11,709 | 11,511 | 11,719 | |||||||||||||||||
Equity | ||||||||||||||||||||
Share capital | 898 | 875 | 1,030 | |||||||||||||||||
Share premium | 1,703 | 1,635 | 1,878 | |||||||||||||||||
Other reserves | 665 | 658 | 1,233 | |||||||||||||||||
Retained earnings | 6,590 | 6,267 | 5,446 | |||||||||||||||||
Equity attributable to equity shareholders of the parent company | 9,856 | 9,435 | 9,587 | |||||||||||||||||
Non-controlling interests | 1,853 | 2,076 | 2,132 | |||||||||||||||||
Total equity | 11,709 | 11,511 | 11,719 | |||||||||||||||||
4 |
Diageo Recast unaudited historical financial information |
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Retained earnings/(deficit) | |||||||||||||||||||||||||||||
Share capital |
Share premium |
Other reserves | Own shares | Other retained earnings | Total | Equity attributable to parent company shareholders | Non-controlling interests | Total equity |
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At 30 June 2020 | 913 | 1,662 | 1,098 | (2,382) | 7,039 | 4,657 | 8,330 | 2,051 | 10,381 | ||||||||||||||||||||
Other(1) |
118 | 216 | (27) | (307) | — | (307) | — | — | — | ||||||||||||||||||||
Profit for the year | — | — | — | — | 3,595 | 3,595 | 3,595 | 187 | 3,782 | ||||||||||||||||||||
Other comprehensive income/(loss) | — | — | 161 | — | (45) | (45) | 116 | 26 | 142 | ||||||||||||||||||||
Total comprehensive income for the year | — | — | 161 | — | 3,550 | 3,550 | 3,711 | 213 | 3,924 | ||||||||||||||||||||
Employee share schemes | — | — | — | 80 | (13) | 67 | 67 | — | 67 | ||||||||||||||||||||
Share-based incentive plans | — | — | — | — | 66 | 66 | 66 | — | 66 | ||||||||||||||||||||
Share-based incentive plans in respect of associates | — | — | — | — | 4 | 4 | 4 | — | 4 | ||||||||||||||||||||
Tax on share-based incentive plans | — | — | — | — | 12 | 12 | 12 | — | 12 | ||||||||||||||||||||
Purchase of non-controlling interests | — | — | — | — | (19) | (19) | (19) | (35) | (54) | ||||||||||||||||||||
Associates' transactions with non-controlling interests | — | — | — | — | (123) | (123) | (123) | — | (123) | ||||||||||||||||||||
Change in fair value of put option | — | — | — | — | (2) | (2) | (2) | — | (2) | ||||||||||||||||||||
Share buyback programme | (1) | — | 1 | — | (280) | (280) | (280) | — | (280) | ||||||||||||||||||||
Dividend declared in the year | — | — | — | — | (2,179) | (2,179) | (2,179) | (97) | (2,276) | ||||||||||||||||||||
At 30 June 2021 | 1,030 | 1,878 | 1,233 | (2,609) | 8,055 | 5,446 | 9,587 | 2,132 | 11,719 | ||||||||||||||||||||
Adjustment to 2021 closing equity in respect of hyperinflation in Turkey | — | — | — | — | 349 | 349 | 349 | — | 349 | ||||||||||||||||||||
Adjusted at 30 June 2021 | 1,030 | 1,878 | 1,233 | (2,609) | 8,404 | 5,795 | 9,936 | 2,132 | 12,068 | ||||||||||||||||||||
Other(1) |
(131) | (243) | 40 | 334 | — | 334 | — | — | — | ||||||||||||||||||||
Profit for the year | — | — | — | — | 4,280 | 4,280 | 4,280 | 130 | 4,410 | ||||||||||||||||||||
Other comprehensive (loss)/income | — | — | (639) | — | 991 | 991 | 352 | (84) | 268 | ||||||||||||||||||||
Total comprehensive (loss)/income for the year | — | — | (639) | — | 5,271 | 5,271 | 4,632 | 46 | 4,678 | ||||||||||||||||||||
Employee share schemes | — | — | — | 52 | 67 | 119 | 119 | — | 119 | ||||||||||||||||||||
Share-based incentive plans | — | — | — | — | 79 | 79 | 79 | — | 79 | ||||||||||||||||||||
Share-based incentive plans in respect of associates | — | — | — | — | 5 | 5 | 5 | — | 5 | ||||||||||||||||||||
Tax on share-based incentive plans | — | — | — | — | 11 | 11 | 11 | — | 11 | ||||||||||||||||||||
Share based payments and purchase of own shares in respect of subsidiaries | — | — | — | — | (15) | (15) | (15) | (8) | (23) | ||||||||||||||||||||
Unclaimed dividend | — | — | — | — | 3 | 3 | 3 | 1 | 4 | ||||||||||||||||||||
Change in fair value of put option | — | — | — | — | (45) | (45) | (45) | — | (45) | ||||||||||||||||||||
Share buyback programme | (24) | — | 24 | — | (3,004) | (3,004) | (3,004) | — | (3,004) | ||||||||||||||||||||
Dividend declared in the year | — | — | — | — | (2,286) | (2,286) | (2,286) | (95) | (2,381) | ||||||||||||||||||||
At 30 June 2022 | 875 | 1,635 | 658 | (2,223) | 8,490 | 6,267 | 9,435 | 2,076 | 11,511 | ||||||||||||||||||||
Other(1) |
36 | 68 | (11) | (93) | — | (93) | — | — | — | ||||||||||||||||||||
Profit for the year | — | — | — | — | 4,445 | 4,445 | 4,445 | 34 | 4,479 | ||||||||||||||||||||
Other comprehensive income/(loss) | — | — | 5 | — | (387) | (387) | (382) | (100) | (482) | ||||||||||||||||||||
Total comprehensive income/(loss) for the year | — | — | 5 | — | 4,058 | 4,058 | 4,063 | (66) | 3,997 | ||||||||||||||||||||
Employee share schemes | — | — | — | 30 | 29 | 59 | 59 | — | 59 | ||||||||||||||||||||
Share-based incentive plans | — | — | — | — | 58 | 58 | 58 | — | 58 | ||||||||||||||||||||
Share-based incentive plans in respect of associates | — | — | — | — | 6 | 6 | 6 | — | 6 | ||||||||||||||||||||
Tax on share-based incentive plans | — | — | — | — | 7 | 7 | 7 | — | 7 | ||||||||||||||||||||
Share based payments and purchase of own shares in respect of subsidiaries | — | — | — | — | 4 | 4 | 4 | 2 | 6 | ||||||||||||||||||||
Purchase of non-controlling interests | — | — | — | — | (136) | (136) | (136) | (42) | (178) | ||||||||||||||||||||
Unclaimed dividend | — | — | — | — | 1 | 1 | 1 | — | 1 | ||||||||||||||||||||
Associates' transactions with non-controlling interests | — | — | — | — | (8) | (8) | (8) | — | (8) | ||||||||||||||||||||
Change in fair value of put option | — | — | — | — | (19) | (19) | (19) | — | (19) | ||||||||||||||||||||
Share buyback programme | (13) | — | 13 | — | (1,543) | (1,543) | (1,543) | — | (1,543) | ||||||||||||||||||||
Dividend declared in the year | — | — | — | — | (2,071) | (2,071) | (2,071) | (117) | (2,188) | ||||||||||||||||||||
At 30 June 2023 | 898 | 1,703 | 665 | (2,286) | 8,876 | 6,590 | 9,856 | 1,853 | 11,709 |
5 |
Diageo Recast unaudited historical financial information |
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Year ended 30 June 2023 | Year ended 30 June 2022 | Year ended 30 June 2021 | ||||||||||||||||||
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Cash flows from operating activities | ||||||||||||||||||||
Profit for the year | 4,479 | 4,410 | 3,782 | |||||||||||||||||
Taxation | 1,163 | 1,398 | 1,222 | |||||||||||||||||
Share of after tax results of associates and joint ventures | (443) | (555) | (452) | |||||||||||||||||
Net finance charges | 712 | 556 | 504 | |||||||||||||||||
Non-operating items | (364) | 88 | (20) | |||||||||||||||||
Operating profit | 5,547 | 5,897 | 5,036 | |||||||||||||||||
Increase in inventories | (810) | (984) | (597) | |||||||||||||||||
Decrease/(increase) in trade and other receivables | 142 | (502) | (602) | |||||||||||||||||
(Decrease)/increase in trade and other payables and provisions | (746) | 1,245 | 1,645 | |||||||||||||||||
Net (increase)/decrease in working capital | (1,414) | (241) | 446 | |||||||||||||||||
Depreciation, amortisation and impairment | 1,297 | 1,064 | 604 | |||||||||||||||||
Dividends received | 271 | 238 | 391 | |||||||||||||||||
Post employment payments less amounts included in operating profit | (31) | (119) | (40) | |||||||||||||||||
Other items | 74 | 70 | 120 | |||||||||||||||||
1,611 | 1,253 | 1,075 | ||||||||||||||||||
Cash generated from operations | 5,744 | 6,909 | 6,557 | |||||||||||||||||
Interest received | 157 | 146 | 120 | |||||||||||||||||
Interest paid | (822) | (582) | (595) | |||||||||||||||||
Taxation paid | (1,443) | (1,260) | (1,150) | |||||||||||||||||
(2,108) | (1,696) | (1,625) | ||||||||||||||||||
Net cash inflow from operating activities | 3,636 | 5,213 | 4,932 | |||||||||||||||||
Cash flows from investing activities | ||||||||||||||||||||
Disposal of property, plant and equipment and computer software | 16 | 23 | 18 | |||||||||||||||||
Purchase of property, plant and equipment and computer software | (1,417) | (1,457) | (844) | |||||||||||||||||
Movements in loans and other investments | (68) | (96) | (7) | |||||||||||||||||
Sale of businesses and brands | 559 | 102 | 20 | |||||||||||||||||
Acquisition of subsidiaries | (404) | (278) | (588) | |||||||||||||||||
Investment in associates and joint ventures | (112) | (86) | (52) | |||||||||||||||||
Net cash outflow from investing activities | (1,426) | (1,792) | (1,453) | |||||||||||||||||
Cash flows from financing activities | ||||||||||||||||||||
Share buyback programme | (1,673) | (2,985) | (153) | |||||||||||||||||
Net sale of own shares for share schemes | 36 | 24 | 66 | |||||||||||||||||
Purchase of treasury shares in respect of subsidiaries | — | (20) | — | |||||||||||||||||
Dividends paid to non-controlling interests | (117) | (108) | (104) | |||||||||||||||||
Proceeds from bonds | 2,537 | 2,971 | 1,310 | |||||||||||||||||
Repayment of bonds | (1,650) | (2,060) | (1,612) | |||||||||||||||||
Purchase of shares of non-controlling interests | (178) | — | (54) | |||||||||||||||||
Cash inflow from other borrowings | 521 | 667 | 46 | |||||||||||||||||
Cash outflow from other borrowings | (452) | (562) | (1,067) | |||||||||||||||||
Equity dividends paid | (2,065) | (2,300) | (2,179) | |||||||||||||||||
Net cash outflow from financing activities | (3,041) | (4,373) | (3,747) | |||||||||||||||||
Net decrease in net cash and cash equivalents | (831) | (952) | (268) | |||||||||||||||||
Exchange differences | (76) | (38) | 55 | |||||||||||||||||
Net cash and cash equivalents at beginning of the year |
2,675 | 3,665 | 3,878 | |||||||||||||||||
Net cash and cash equivalents at end of the year |
1,768 | 2,675 | 3,665 | |||||||||||||||||
Net cash and cash equivalents consist of: | ||||||||||||||||||||
Cash and cash equivalents | 1,813 | 2,765 | 3,821 | |||||||||||||||||
Bank overdrafts | (45) | (90) | (156) | |||||||||||||||||
1,768 | 2,675 | 3,665 |
6 |
Diageo Recast unaudited historical financial information |
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North America | Europe | Asia Pacific |
Latin America and Caribbean | Africa | SC&P | Eliminate inter- segment sales |
Total operating segments |
Corporate and other |
Total | |||||||||||||||||||||||
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Sales | 8,859 | 7,245 | 6,484 | 2,714 | 2,864 | 3,687 | (3,687) | 28,166 | 104 | 28,270 | ||||||||||||||||||||||
Net sales | ||||||||||||||||||||||||||||||||
At budgeted exchange rates(1) |
8,109 | 4,526 | 4,134 | 2,200 | 2,186 | 3,943 | (3,854) | 21,244 | 115 | 21,359 | ||||||||||||||||||||||
Acquisitions and disposals | 27 | 27 | 48 | 3 | 138 | — | — | 243 | — | 243 | ||||||||||||||||||||||
SC&P allocation | 10 | 52 | 11 | 12 | 4 | (89) | — | — | — | — | ||||||||||||||||||||||
Retranslation to actual exchange rates | (37) | (537) | (352) | (56) | (289) | (167) | 167 | (1,271) | (11) | (1,282) | ||||||||||||||||||||||
Hyperinflation | — | 235 | — | — | — | — | — | 235 | — | 235 | ||||||||||||||||||||||
Net sales | 8,109 | 4,303 | 3,841 | 2,159 | 2,039 | 3,687 | (3,687) | 20,451 | 104 | 20,555 | ||||||||||||||||||||||
Operating profit/(loss) | ||||||||||||||||||||||||||||||||
At budgeted exchange rates(1) |
3,132 | 1,441 | 1,187 | 800 | 466 | (42) | — | 6,984 | (392) | 6,592 | ||||||||||||||||||||||
Acquisitions and disposals | (23) | (19) | 7 | — | 37 | — | — | 2 | (8) | (6) | ||||||||||||||||||||||
SC&P allocation | 3 | (31) | (7) | (4) | (3) | 42 | — | — | — | — | ||||||||||||||||||||||
Fair value remeasurement | 122 | 34 | — | 1 | — | — | — | 157 | — | 157 | ||||||||||||||||||||||
Retranslation to actual exchange rates | (12) | (144) | (83) | (14) | (211) | — | — | (464) | 3 | (461) | ||||||||||||||||||||||
Hyperinflation | — | 31 | — | — | — | — | — | 31 | — | 31 | ||||||||||||||||||||||
Operating profit/(loss) before exceptional items | 3,222 | 1,312 | 1,104 | 783 | 289 | — | — | 6,710 | (397) | 6,313 | ||||||||||||||||||||||
Exceptional operating items | (118) | (12) | (581) | — | (55) | — | — | (766) | — | (766) | ||||||||||||||||||||||
Operating profit/(loss) | 3,104 | 1,300 | 523 | 783 | 234 | — | — | 5,944 | (397) | 5,547 | ||||||||||||||||||||||
Non-operating items | 364 | |||||||||||||||||||||||||||||||
Net finance charges | (712) | |||||||||||||||||||||||||||||||
Share of after tax results of associates and joint ventures | 443 | |||||||||||||||||||||||||||||||
Profit before taxation | 5,642 |
7 |
Diageo Recast unaudited historical financial information |
|
North America | Europe | Asia Pacific |
Latin America and Caribbean | Africa | SC&P | Eliminate inter- segment sales |
Total operating segments |
Corporate and other |
Total | |||||||||||||||||||||||
Year ended 30 June 2022 | Re-presented $ million |
Re-presented $ million |
Re-presented $ million |
Re-presented $ million |
Re-presented $ million |
Re-presented $ million |
Re-presented $ million |
Re-presented $ million |
Re-presented $ million |
Re-presented $ million |
||||||||||||||||||||||
Sales | 8,888 | 7,531 | 7,481 | 2,585 | 3,196 | 2,672 | (2,672) | 29,681 | 70 | 29,751 | ||||||||||||||||||||||
Net sales | ||||||||||||||||||||||||||||||||
At budgeted exchange rates(1) |
8,037 | 4,398 | 3,887 | 2,007 | 2,292 | 2,829 | (2,720) | 20,730 | 74 | 20,804 | ||||||||||||||||||||||
Acquisitions and disposals | 46 | 32 | — | 4 | 20 | — | — | 102 | — | 102 | ||||||||||||||||||||||
SC&P allocation | 13 | 63 | 13 | 16 | 4 | (109) | — | — | — | — | ||||||||||||||||||||||
Retranslation to actual exchange rates | 10 | (510) | (63) | — | (78) | (48) | 48 | (641) | (4) | (645) | ||||||||||||||||||||||
Hyperinflation | — | 255 | — | — | — | — | — | 255 | — | 255 | ||||||||||||||||||||||
Net sales | 8,106 | 4,238 | 3,837 | 2,027 | 2,238 | 2,672 | (2,672) | 20,446 | 70 | 20,516 | ||||||||||||||||||||||
Operating profit/(loss) | ||||||||||||||||||||||||||||||||
At budgeted exchange rates(1) |
3,224 | 1,464 | 948 | 715 | 466 | (31) | — | 6,786 | (343) | 6,443 | ||||||||||||||||||||||
Acquisitions and disposals | (37) | 14 | — | — | (13) | — | — | (36) | — | (36) | ||||||||||||||||||||||
SC&P allocation | (3) | (23) | (1) | (3) | (1) | 31 | — | — | — | — | ||||||||||||||||||||||
Fair value remeasurement | 43 | 48 | — | (10) | — | — | — | 81 | — | 81 | ||||||||||||||||||||||
Retranslation to actual exchange rates | 41 | (172) | — | 10 | (33) | — | — | (154) | 26 | (128) | ||||||||||||||||||||||
Hyperinflation | — | 14 | — | — | — | — | — | 14 | — | 14 | ||||||||||||||||||||||
Operating profit/(loss) before exceptional items | 3,268 | 1,345 | 947 | 712 | 419 | — | — | 6,691 | (317) | 6,374 | ||||||||||||||||||||||
Exceptional operating items | (1) | (184) | (292) | — | — | — | — | (477) | — | (477) | ||||||||||||||||||||||
Operating profit/(loss) | 3,267 | 1,161 | 655 | 712 | 419 | — | — | 6,214 | (317) | 5,897 | ||||||||||||||||||||||
Non-operating items | (88) | |||||||||||||||||||||||||||||||
Net finance charges | (556) | |||||||||||||||||||||||||||||||
Share of after tax results of associates and joint ventures | 555 | |||||||||||||||||||||||||||||||
Profit before taxation | 5,808 |
North America | Europe | Asia Pacific |
Latin America and Caribbean | Africa | SC&P | Eliminate inter- segment sales |
Total operating segments |
Corporate and other |
Total | |||||||||||||||||||||||
Year ended 30 June 2021 | Re-presented $ million |
Re-presented $ million |
Re-presented $ million |
Re-presented $ million |
Re-presented $ million |
Re-presented $ million |
Re-presented $ million |
Re-presented $ million |
Re-presented $ million |
Re-presented $ million |
||||||||||||||||||||||
Sales | 7,835 | 6,473 | 6,948 | 1,849 | 2,727 | 2,075 | (2,075) | 25,832 | 26 | 25,858 | ||||||||||||||||||||||
Net sales | ||||||||||||||||||||||||||||||||
At budgeted exchange rates(1) |
6,963 | 3,250 | 3,227 | 1,482 | 1,942 | 2,050 | (1,950) | 16,964 | 25 | 16,989 | ||||||||||||||||||||||
Acquisitions and disposals | 35 | 3 | — | — | 6 | — | — | 44 | — | 44 | ||||||||||||||||||||||
SC&P allocation | 12 | 56 | 11 | 16 | 5 | (100) | — | — | — | — | ||||||||||||||||||||||
Retranslation to actual exchange rates | 23 | 144 | 121 | (85) | (46) | 125 | (125) | 157 | 1 | 158 | ||||||||||||||||||||||
Net sales | 7,033 | 3,453 | 3,359 | 1,413 | 1,907 | 2,075 | (2,075) | 17,165 | 26 | 17,191 | ||||||||||||||||||||||
Operating profit/(loss) | ||||||||||||||||||||||||||||||||
At budgeted exchange rates(1) |
3,111 | 918 | 791 | 530 | 286 | (121) | — | 5,515 | (275) | 5,240 | ||||||||||||||||||||||
Acquisitions and disposals | (24) | (3) | — | — | — | — | — | (27) | — | (27) | ||||||||||||||||||||||
SC&P allocation | (38) | (40) | (6) | (33) | (4) | 121 | — | — | — | — | ||||||||||||||||||||||
Fair value remeasurement | (10) | (34) | — | — | — | — | — | (44) | — | (44) | ||||||||||||||||||||||
Retranslation to actual exchange rates | (35) | 20 | 31 | (72) | (51) | — | — | (107) | (5) | (112) | ||||||||||||||||||||||
Operating profit/(loss) before exceptional items | 3,004 | 861 | 816 | 425 | 231 | — | — | 5,337 | (280) | 5,057 | ||||||||||||||||||||||
Exceptional operating items | — | (21) | — | — | — | — | — | (21) | — | (21) | ||||||||||||||||||||||
Operating profit/(loss) | 3,004 | 840 | 816 | 425 | 231 | — | — | 5,316 | (280) | 5,036 | ||||||||||||||||||||||
Non-operating items | 20 | |||||||||||||||||||||||||||||||
Net finance charges | (504) | |||||||||||||||||||||||||||||||
Share of after tax results of associates and joint ventures | 452 | |||||||||||||||||||||||||||||||
Profit before taxation | 5,004 |
8 |
Diageo Recast unaudited historical financial information |
|
North America |
Europe | Asia Pacific |
Latin America and Caribbean |
Africa | SC&P | Corporate and other |
Total | |||||||||||||||||||
Year ended 30 June 2023 | Re-presented $ million |
Re-presented $ million |
Re-presented $ million |
Re-presented $ million |
Re-presented $ million |
Re-presented $ million |
Re-presented $ million |
Re-presented $ million |
||||||||||||||||||
Purchase of property, plant and equipment and computer software | 236 | 252 | 198 | 146 | 152 | 427 | 6 | 1,417 | ||||||||||||||||||
Depreciation and intangible asset amortisation | (114) | (118) | (75) | (22) | (95) | (161) | (12) | (597) | ||||||||||||||||||
Exceptional impairment of tangible assets | (63) | 3 | (27) | — | — | — | — | (87) | ||||||||||||||||||
Exceptional impairment of intangible assets | (36) | (31) | (546) | — | — | — | — | (613) | ||||||||||||||||||
Year ended 30 June 2022 | ||||||||||||||||||||||||||
Purchase of property, plant and equipment and computer software | 306 | 247 | 194 | 170 | 184 | 341 | 15 | 1,457 | ||||||||||||||||||
Depreciation and intangible asset amortisation | (107) | (121) | (124) | (21) | (106) | (157) | (15) | (651) | ||||||||||||||||||
Exceptional impairment of tangible assets | — | (4) | — | — | — | — | — | (4) | ||||||||||||||||||
Exceptional impairment of intangible assets | — | (119) | (290) | — | — | — | — | (409) | ||||||||||||||||||
Year ended 30 June 2021 | ||||||||||||||||||||||||||
Purchase of property, plant and equipment and computer software | 206 | 32 | 74 | 26 | 169 | 169 | 168 | 844 | ||||||||||||||||||
Depreciation and intangible asset amortisation | (101) | (43) | (81) | (22) | (107) | (169) | (81) | (604) | ||||||||||||||||||
Category analysis | Geographical analysis | |||||||||||||||||||||||||||||||
Year ended 30 June 2023 | Spirits Re-presented $ million |
Beer Re-presented $ million |
Ready to drink Re-presented $ million |
Other Re-presented $ million |
Total Re-presented $ million |
United States Re-presented $ million |
India Re-presented $ million |
Great Britain Re-presented $ million |
Rest of world Re-presented $ million |
Total Re-presented $ million |
||||||||||||||||||||||
Sales(1) |
22,855 | 4,026 | 1,079 | 310 | 28,270 | 8,366 | 3,301 | 2,565 | 14,038 | 28,270 | ||||||||||||||||||||||
Non-current assets(2), (3) |
7,328 | 2,265 | 3,665 | 14,118 | 27,376 | |||||||||||||||||||||||||||
Year ended 30 June 2022 | ||||||||||||||||||||||||||||||||
Sales(1) |
24,059 | 4,160 | 1,172 | 360 | 29,751 | 8,415 | 4,282 | 2,848 | 14,206 | 29,751 | ||||||||||||||||||||||
Non-current assets(2), (3) |
7,137 | 2,899 | 2,920 | 13,143 | 26,099 | |||||||||||||||||||||||||||
Year ended 30 June 2021 | ||||||||||||||||||||||||||||||||
Sales(1) |
21,106 | 3,459 | 1,000 | 293 | 25,858 | 7,346 | 4,065 | 2,460 | 11,987 | 25,858 | ||||||||||||||||||||||
Non-current assets(2), (3) |
6,004 | 3,559 | 2,946 | 13,990 | 26,499 |
9 |
Diageo Recast unaudited historical financial information |
|
Year ended 30 June 2023 ($ million) | ||||||||||||||||||||||||||
2022 Re-presented |
Exchange Re-presented |
Acquisitions and disposals Re-presented |
Organic movement Re-presented |
Other(3)
Re-presented
|
Hyperinflation(2)
Re-presented
|
2023 Re-presented |
Reported movement Re-presented % |
|||||||||||||||||||
Net sales | 20,516 | (1,246) | (154) | 1,299 | — | 140 | 20,555 | — | ||||||||||||||||||
Marketing | 3,616 | (193) | 21 | 203 | 1 | 15 | 3,663 | 1 | ||||||||||||||||||
Operating profit before exceptional items | 6,374 | (518) | (81) | 431 | 77 | 30 | 6,313 | (1) | ||||||||||||||||||
Exceptional operating items(1) |
(477) | (766) | ||||||||||||||||||||||||
Operating profit | 5,897 | 5,547 | (6) |
Year ended 30 June 2022 ($ million) | ||||||||||||||||||||||||||
2021 Re-presented |
Exchange Re-presented |
Acquisitions and disposals Re-presented |
Organic movement Re-presented |
Other(3)
Re-presented
|
Hyperinflation(2)
Re-presented
|
2022 Re-presented |
Reported movement Re-presented % |
|||||||||||||||||||
Net sales | 17,191 | (644) | 48 | 3,666 | — | 255 | 20,516 | 19 | ||||||||||||||||||
Marketing | 2,920 | (78) | 34 | 718 | (1) | 23 | 3,616 | 24 | ||||||||||||||||||
Operating profit before exceptional items | 5,057 | (145) | (21) | 1,342 | 127 | 14 | 6,374 | 26 | ||||||||||||||||||
Exceptional operating items(1) |
(21) | (477) | ||||||||||||||||||||||||
Operating profit | 5,036 | 5,897 | 17 |
Year ended 30 June 2023 ($ million) | |||||||||||||||||||||||
2022 Re-presented |
Exchange Re-presented |
Acquisitions and disposals Re-presented |
Organic movement Re-presented |
Other(3)
Re-presented
|
2023 Re-presented |
Reported movement Re-presented % |
|||||||||||||||||
Net sales | 8,106 | (38) | 27 | 14 | — | 8,109 | — | ||||||||||||||||
Marketing | 1,595 | (14) | 20 | 29 | 1 | 1,631 | 2 | ||||||||||||||||
Operating profit before exceptional items | 3,268 | (34) | (15) | (76) | 79 | 3,222 | (1) | ||||||||||||||||
Exceptional operating items(1) |
(1) | (118) | |||||||||||||||||||||
Operating profit | 3,267 | 3,104 | (5) |
Year ended 30 June 2022 ($ million) | |||||||||||||||||||||||
2021 Re-presented |
Exchange Re-presented |
Acquisitions and disposals Re-presented |
Organic movement Re-presented |
Other(3)
Re-presented
|
2022 Re-presented |
Reported movement Re-presented % |
|||||||||||||||||
Net sales | 7,033 | 10 | 46 | 1,017 | — | 8,106 | 15 | ||||||||||||||||
Marketing | 1,263 | 1 | 33 | 299 | (1) | 1,595 | 26 | ||||||||||||||||
Operating profit before exceptional items | 3,004 | 37 | (26) | 200 | 53 | 3,268 | 9 | ||||||||||||||||
Exceptional operating items(1) |
— | (1) | |||||||||||||||||||||
Operating profit | 3,004 | 3,267 | 9 |
10 |
Diageo Recast unaudited historical financial information |
|
Year ended 30 June 2023 ($ million) | ||||||||||||||||||||||||||
2022 Re-presented |
Exchange Re-presented |
Acquisitions and disposals Re-presented |
Organic movement Re-presented |
Other(3)
Re-presented
|
Hyperinflation(2)
Re-presented
|
2023 Re-presented |
Reported movement Re-presented % |
|||||||||||||||||||
Net sales | 4,238 | (530) | (11) | 466 | — | 140 | 4,303 | 2 | ||||||||||||||||||
Marketing | 764 | (74) | 3 | 57 | — | 15 | 765 | — | ||||||||||||||||||
Operating profit before exceptional items | 1,345 | (144) | (43) | 138 | (14) | 30 | 1,312 | (2) | ||||||||||||||||||
Exceptional operating items(1) |
(184) | (12) | ||||||||||||||||||||||||
Operating profit | 1,161 | 1,300 | 12 |
Year ended 30 June 2022 ($ million) | ||||||||||||||||||||||||||
2021 Re-presented |
Exchange Re-presented |
Acquisitions and disposals Re-presented |
Organic movement Re-presented |
Other(3)
Re-presented
|
Hyperinflation(2)
Re-presented
|
2022 Re-presented |
Reported movement Re-presented % |
|||||||||||||||||||
Net sales | 3,453 | (510) | 6 | 1,034 | — | 255 | 4,238 | 23 | ||||||||||||||||||
Marketing | 638 | (62) | — | 165 | — | 23 | 764 | 20 | ||||||||||||||||||
Operating profit before exceptional items | 861 | (179) | 1 | 564 | 84 | 14 | 1,345 | 56 | ||||||||||||||||||
Exceptional operating items(1) |
(21) | (184) | ||||||||||||||||||||||||
Operating profit | 840 | 1,161 | 38 |
Year ended 30 June 2023 ($ million) | ||||||||||||||||||||
2022 Re-presented |
Exchange Re-presented |
Acquisitions and disposals Re-presented |
Organic movement Re-presented |
2023 Re-presented |
Reported movement Re-presented % |
|||||||||||||||
Net sales | 3,837 | (334) | (136) | 474 | 3,841 | — | ||||||||||||||
Marketing | 651 | (58) | — | 62 | 655 | 1 | ||||||||||||||
Operating profit before exceptional items | 947 | (83) | (28) | 268 | 1,104 | 17 | ||||||||||||||
Exceptional operating items(1) |
(292) | (581) | ||||||||||||||||||
Operating profit | 655 | 523 | (20) |
Year ended 30 June 2022 ($ million) | ||||||||||||||||||||
2021 Re-presented |
Exchange Re-presented |
Acquisitions and disposals Re-presented |
Organic movement Re-presented |
2022 Re-presented |
Reported movement Re-presented % |
|||||||||||||||
Net sales | 3,359 | (66) | — | 544 | 3,837 | 14 | ||||||||||||||
Marketing | 564 | (4) | — | 91 | 651 | 15 | ||||||||||||||
Operating profit before exceptional items | 816 | (2) | — | 133 | 947 | 16 | ||||||||||||||
Exceptional operating items(1) |
— | (292) | ||||||||||||||||||
Operating profit | 816 | 655 | (20) |
Year ended 30 June 2023 ($ million) | |||||||||||||||||||||||
2022 Re-presented |
Exchange Re-presented |
Acquisitions and disposals Re-presented |
Organic movement Re-presented |
Other(3)
Re-presented
|
2023 Re-presented |
Reported movement Re-presented % |
|||||||||||||||||
Net sales | 2,027 | (61) | 3 | 190 | — | 2,159 | 7 | ||||||||||||||||
Marketing | 324 | (15) | 1 | 45 | — | 355 | 10 | ||||||||||||||||
Operating profit | 712 | (24) | — | 83 | 12 | 783 | 10 |
Year ended 30 June 2022 ($ million) | |||||||||||||||||||||||
2021 Re-presented |
Exchange Re-presented |
Acquisitions and disposals Re-presented |
Organic movement Re-presented |
Other(3)
Re-presented
|
2022 Re-presented |
Reported movement Re-presented % |
|||||||||||||||||
Net sales | 1,413 | 1 | 4 | 609 | — | 2,027 | 43 | ||||||||||||||||
Marketing | 218 | (2) | 1 | 107 | — | 324 | 49 | ||||||||||||||||
Operating profit | 425 | 3 | — | 294 | (10) | 712 | 68 | ||||||||||||||||
11 |
Diageo Recast unaudited historical financial information |
|
Year ended 30 June 2023 ($ million) | ||||||||||||||||||||
2022 Re-presented |
Exchange Re-presented |
Acquisitions and disposals Re-presented |
Organic movement Re-presented |
2023 Re-presented |
Reported movement Re-presented % |
|||||||||||||||
Net sales | 2,238 | (273) | (37) | 111 | 2,039 | (9) | ||||||||||||||
Marketing | 266 | (31) | (6) | 6 | 235 | (12) | ||||||||||||||
Operating profit before exceptional items | 419 | (192) | 13 | 49 | 289 | (31) | ||||||||||||||
Exceptional operating items(1) |
— | (55) | ||||||||||||||||||
Operating profit | 419 | 234 | (44) |
Year ended 30 June 2022 ($ million) | ||||||||||||||||||||
2021 Re-presented |
Exchange Re-presented |
Acquisitions and disposals Re-presented |
Organic movement Re-presented |
2022 Re-presented |
Reported movement Re-presented % |
|||||||||||||||
Net sales | 1,907 | (76) | (8) | 415 | 2,238 | 17 | ||||||||||||||
Marketing | 228 | (11) | — | 49 | 266 | 17 | ||||||||||||||
Operating profit | 231 | (21) | 4 | 205 | 419 | 81 | ||||||||||||||
12 |
Diageo Recast unaudited historical financial information |
|
13 |
Diageo Recast unaudited historical financial information |
|
North America Re-presented $ million |
Europe Re-presented $ million |
Asia Pacific Re-presented $ million |
Latin America and Caribbean Re-presented $ million |
Africa Re-presented $ million |
Corporate(2)
Re-presented
$ million
|
Total Re-presented $ million |
|||||||||||||||||||||||||||||||||||
Net sales | |||||||||||||||||||||||||||||||||||||||||
2022 reported (re-presented) | 8,106 | 4,238 | 3,837 | 2,027 | 2,238 | 70 | 20,516 | ||||||||||||||||||||||||||||||||||
Exchange | (1) | 7 | 18 | (5) | 16 | 1 | 36 | ||||||||||||||||||||||||||||||||||
Disposals | — | (38) | (184) | — | (175) | — | (397) | ||||||||||||||||||||||||||||||||||
Hyperinflation | — | (95) | — | — | — | — | (95) | ||||||||||||||||||||||||||||||||||
2022 adjusted (re-presented) | 8,105 | 4,112 | 3,671 | 2,022 | 2,079 | 71 | 20,060 | ||||||||||||||||||||||||||||||||||
Organic movement | 14 | 466 | 474 | 190 | 111 | 44 | 1,299 | ||||||||||||||||||||||||||||||||||
Acquisitions and disposals | 27 | 27 | 48 | 3 | 138 | — | 243 | ||||||||||||||||||||||||||||||||||
Exchange | (37) | (537) | (352) | (56) | (289) | (11) | (1,282) | ||||||||||||||||||||||||||||||||||
Hyperinflation | — | 235 | — | — | — | — | 235 | ||||||||||||||||||||||||||||||||||
2023 reported (re-presented) | 8,109 | 4,303 | 3,841 | 2,159 | 2,039 | 104 | 20,555 | ||||||||||||||||||||||||||||||||||
Organic movement % | — | 11 | 13 | 9 | 5 | 62 | 6 | ||||||||||||||||||||||||||||||||||
North America Re-presented $ million |
Europe Re-presented $ million |
Asia Pacific Re-presented $ million |
Latin America and Caribbean Re-presented $ million |
Africa Re-presented $ million |
Corporate(2)
Re-presented
$ million
|
Total Re-presented $ million |
|||||||||||||||||
Net sales | |||||||||||||||||||||||
2021 reported (re-presented) | 7,033 | 3,453 | 3,359 | 1,413 | 1,907 | 26 | 17,191 | ||||||||||||||||
Exchange | — | — | (3) | 1 | 2 | 1 | 1 | ||||||||||||||||
Disposals | — | (26) | — | — | (28) | — | (54) | ||||||||||||||||
2021 adjusted (re-presented) | 7,033 | 3,427 | 3,356 | 1,414 | 1,881 | 27 | 17,138 | ||||||||||||||||
Organic movement | 1,017 | 1,034 | 544 | 609 | 415 | 47 | 3,666 | ||||||||||||||||
Acquisitions and disposals | 46 | 32 | — | 4 | 20 | — | 102 | ||||||||||||||||
Exchange | 10 | (510) | (63) | — | (78) | (4) | (645) | ||||||||||||||||
Hyperinflation | — | 255 | — | — | — | — | 255 | ||||||||||||||||
2022 reported (re-presented) | 8,106 | 4,238 | 3,837 | 2,027 | 2,238 | 70 | 20,516 | ||||||||||||||||
Organic movement % | 14 | 30 | 16 | 43 | 22 | 174 | 21 | ||||||||||||||||
14 |
Diageo Recast unaudited historical financial information |
|
North America Re-presented $ million |
Europe Re-presented $ million |
Asia Pacific Re-presented $ million |
Latin America and Caribbean Re-presented $ million |
Africa Re-presented $ million |
Corporate(2)
Re-presented
$ million
|
Total Re-presented $ million |
|||||||||||||||||
Marketing | |||||||||||||||||||||||
2022 reported (re-presented) | 1,595 | 764 | 651 | 324 | 266 | 16 | 3,616 | ||||||||||||||||
Exchange | (3) | 16 | 2 | (2) | (2) | (1) | 10 | ||||||||||||||||
Fair value remeasurement of contingent considerations, equity option and earn out arrangements | 1 | — | — | — | — | — | 1 | ||||||||||||||||
Disposals | — | (1) | — | — | (12) | — | (13) | ||||||||||||||||
Hyperinflation | — | (8) | — | — | — | — | (8) | ||||||||||||||||
2022 adjusted (re-presented) | 1,593 | 771 | 653 | 322 | 252 | 15 | 3,606 | ||||||||||||||||
Organic movement | 29 | 57 | 62 | 45 | 6 | 4 | 203 | ||||||||||||||||
Acquisitions and disposals | 20 | 4 | — | 1 | 6 | 3 | 34 | ||||||||||||||||
Exchange | (11) | (90) | (60) | (13) | (29) | — | (203) | ||||||||||||||||
Hyperinflation | — | 23 | — | — | — | — | 23 | ||||||||||||||||
2023 reported (re-presented) | 1,631 | 765 | 655 | 355 | 235 | 22 | 3,663 | ||||||||||||||||
Organic movement % | 2 | 7 | 9 | 14 | 2 | 27 | 6 | ||||||||||||||||
North America Re-presented $ million |
Europe Re-presented $ million |
Asia Pacific Re-presented $ million |
Latin America and Caribbean Re-presented $ million |
Africa Re-presented $ million |
Corporate(2)
Re-presented
$ million
|
Total Re-presented $ million |
|||||||||||||||||
Marketing | |||||||||||||||||||||||
2021 reported (re-presented) | 1,263 | 638 | 564 | 218 | 228 | 9 | 2,920 | ||||||||||||||||
Exchange | — | (1) | 2 | — | (4) | (2) | (5) | ||||||||||||||||
Disposals | — | (1) | — | — | (3) | — | (4) | ||||||||||||||||
2021 adjusted (re-presented) | 1,263 | 636 | 566 | 218 | 221 | 7 | 2,911 | ||||||||||||||||
Organic movement | 299 | 165 | 91 | 107 | 49 | 7 | 718 | ||||||||||||||||
Acquisitions and disposals | 33 | 1 | — | 1 | 3 | — | 38 | ||||||||||||||||
Fair value remeasurement of contingent considerations, equity option and earn out arrangements | (1) | — | — | — | — | — | (1) | ||||||||||||||||
Exchange | 1 | (61) | (6) | (2) | (7) | 2 | (73) | ||||||||||||||||
Hyperinflation | — | 23 | — | — | — | — | 23 | ||||||||||||||||
2022 reported (re-presented) | 1,595 | 764 | 651 | 324 | 266 | 16 | 3,616 | ||||||||||||||||
Organic movement % | 24 | 26 | 16 | 49 | 22 | 100 | 25 | ||||||||||||||||
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North America Re-presented $ million |
Europe Re-presented $ million |
Asia Pacific Re-presented $ million |
Latin America and Caribbean Re-presented $ million |
Africa Re-presented $ million |
Corporate Re-presented $ million |
Total Re-presented $ million |
|||||||||||||||||
Operating profit before exceptional items | |||||||||||||||||||||||
2022 reported (re-presented) | 3,268 | 1,345 | 947 | 712 | 419 | (317) | 6,374 | ||||||||||||||||
Exchange | (22) | — | — | (10) | 19 | (44) | (57) | ||||||||||||||||
Fair value remeasurement of contingent considerations and equity option | (43) | (48) | — | 11 | — | — | (80) | ||||||||||||||||
Acquisitions and disposals | 8 | (24) | (35) | — | (24) | — | (75) | ||||||||||||||||
Hyperinflation | — | (1) | — | — | — | — | (1) | ||||||||||||||||
2022 adjusted (re-presented) | 3,211 | 1,272 | 912 | 713 | 414 | (361) | 6,161 | ||||||||||||||||
Organic movement | (76) | 138 | 268 | 83 | 49 | (31) | 431 | ||||||||||||||||
Acquisitions and disposals | (23) | (19) | 7 | — | 37 | (8) | (6) | ||||||||||||||||
Fair value remeasurement of contingent considerations, equity option and earn out arrangements | 122 | 34 | — | 1 | — | — | 157 | ||||||||||||||||
Exchange | (12) | (144) | (83) | (14) | (211) | 3 | (461) | ||||||||||||||||
Hyperinflation | — | 31 | — | — | — | — | 31 | ||||||||||||||||
2023 reported (re-presented) | 3,222 | 1,312 | 1,104 | 783 | 289 | (397) | 6,313 | ||||||||||||||||
Organic movement % | (2) | 11 | 29 | 12 | 12 | (9) | 7 | ||||||||||||||||
Organic operating margin % (1) |
|||||||||||||||||||||||
2023 (re-presented) | 38.6 | 30.8 | 28.5 | 36.0 | 21.1 | n/a | 30.9 | ||||||||||||||||
2022 (re-presented) | 39.6 | 30.9 | 24.8 | 35.3 | 19.9 | n/a | 30.7 | ||||||||||||||||
Organic operating margin movement (bps) | (101) | (13) | 363 | 72 | 126 | n/a | 15 | ||||||||||||||||
North America Re-presented $ million |
Europe Re-presented $ million |
Asia Pacific Re-presented $ million |
Latin America and Caribbean Re-presented $ million |
Africa Re-presented $ million |
Corporate(2)
Re-presented
$ million
|
Total Re-presented $ million |
|||||||||||||||||
Operating profit before exceptional items | |||||||||||||||||||||||
2021 reported (re-presented) | 3,004 | 861 | 816 | 425 | 231 | (280) | 5,057 | ||||||||||||||||
Exchange | (4) | (7) | (2) | (7) | 12 | (9) | (17) | ||||||||||||||||
Fair value remeasurement of contingent considerations and equity option | 10 | 36 | — | — | — | — | 46 | ||||||||||||||||
Acquisitions and disposals | 11 | (13) | — | — | 17 | — | 15 | ||||||||||||||||
2021 adjusted (re-presented) | 3,021 | 877 | 814 | 418 | 260 | (289) | 5,101 | ||||||||||||||||
Organic movement | 200 | 564 | 133 | 294 | 205 | (54) | 1,342 | ||||||||||||||||
Acquisitions and disposals | (37) | 14 | — | — | (13) | — | (36) | ||||||||||||||||
Fair value remeasurement of contingent considerations, equity option and earn out arrangements | 43 | 48 | — | (4) | — | — | 87 | ||||||||||||||||
Fair value remeasurement of biological assets | — | — | — | (6) | — | — | (6) | ||||||||||||||||
Exchange | 41 | (172) | — | 10 | (33) | 26 | (128) | ||||||||||||||||
Hyperinflation | — | 14 | — | — | — | — | 14 | ||||||||||||||||
2022 reported (re-presented) | 3,268 | 1,345 | 947 | 712 | 419 | (317) | 6,374 | ||||||||||||||||
Organic movement % | 7 | 64 | 16 | 70 | 79 | (19) | 26 | ||||||||||||||||
Organic operating margin % (1) |
|||||||||||||||||||||||
2022 (re-presented) | 40.0 | 32.3 | 24.3 | 35.2 | 20.3 | n/a | 31.0 | ||||||||||||||||
2021 (re-presented) | 43.0 | 25.6 | 24.3 | 29.6 | 13.8 | n/a | 29.8 | ||||||||||||||||
Organic operating margin movement (bps) | (295) | 671 | 2 | 564 | 643 | n/a | 121 | ||||||||||||||||
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30 June 2023 | 30 June 2022 | 30 June 2021 | |||||||||
Re-presented $ million |
Re-presented $ million |
Re-presented $ million |
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Profit attributable to equity shareholders of the parent company | 4,445 | 4,280 | 3,595 | ||||||||
Exceptional operating and non-operating items | 402 | 565 | 1 | ||||||||
Exceptional tax items and tax in respect of exceptional operating and non-operating items | (226) | (40) | 113 | ||||||||
Exceptional items attributable to non-controlling interests | (173) | (125) | 2 | ||||||||
Profit attributable to equity shareholders of the parent company before exceptional items | 4,448 | 4,680 | 3,711 | ||||||||
Weighted average number of shares | million | million | million | ||||||||
Shares in issue excluding own shares | 2,264 | 2,318 | 2,337 | ||||||||
Dilutive potential ordinary shares | 7 | 7 | 8 | ||||||||
Diluted shares in issue excluding own shares | 2,271 | 2,325 | 2,345 | ||||||||
cents | cents | cents | |||||||||
Basic earnings per share before exceptional items | 196.5 | 201.9 | 158.8 | ||||||||
Diluted earnings per share before exceptional items | 195.9 | 201.3 | 158.3 |
2023 | 2022 | 2021 | |||||||||
Re-presented $ million |
Re-presented $ million |
Re-presented $ million |
|||||||||
Net cash inflow from operating activities | 3,636 | 5,213 | 4,932 | ||||||||
Disposal of property, plant and equipment and computer software | 16 | 23 | 18 | ||||||||
Purchase of property, plant and equipment and computer software | (1,417) | (1,457) | (844) | ||||||||
Movements in loans and other investments | (68) | (96) | (7) | ||||||||
Free cash flow | 2,167 | 3,683 | 4,099 |
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2023 | 2022 | 2021 | |||||||||
Re-presented $ million |
Re-presented $ million |
Re-presented $ million |
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Borrowings due within one year | 2,142 | 1,842 | 2,589 | ||||||||
Borrowings due after one year | 18,649 | 17,543 | 17,883 | ||||||||
Fair value of foreign currency derivatives and interest rate hedging instruments | 40 | (88) | (323) | ||||||||
Lease liabilities | 564 | 575 | 504 | ||||||||
Less: Cash and cash equivalents | (1,813) | (2,765) | (3,821) | ||||||||
Net borrowings | 19,582 | 17,107 | 16,832 | ||||||||
Post employment benefit liabilities before tax | 471 | 486 | 798 | ||||||||
Adjusted net borrowings | 20,053 | 17,593 | 17,630 | ||||||||
Profit for the year | 4,479 | 4,410 | 3,782 | ||||||||
Taxation | 1,163 | 1,398 | 1,222 | ||||||||
Net finance charges | 712 | 556 | 504 | ||||||||
Depreciation, amortisation and impairment (excluding exceptional impairment) | 597 | 655 | 604 | ||||||||
Exceptional impairment | 700 | 409 | — | ||||||||
EBITDA | 7,651 | 7,428 | 6,112 | ||||||||
Exceptional operating items (excluding impairment) | 66 | 64 | 21 | ||||||||
Non-operating items | (364) | 88 | (20) | ||||||||
Adjusted EBITDA | 7,353 | 7,580 | 6,113 | ||||||||
Adjusted net borrowings to adjusted EBITDA | 2.7 | 2.3 | 2.9 |
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Diageo Recast unaudited historical financial information |
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Investor enquiries to: | Durga Doraisamy | +44 (0)7902 126906 | ||||||
Andy Ryan | +44 (0)7803 854842 | |||||||
Brian Shipman | +1 917 710 3007 | |||||||
investor.relations@diageo.com | ||||||||
Media enquiries to: | Brendan O’Grady | +44 (0)7812 183750 | ||||||
Clare Cavana | +44 (0)7751 742072 | |||||||
Isabel Batchelor | +44 (0)7731 988857 | |||||||
press@diageo.com |
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Diageo Recast unaudited historical financial information |
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/s/ Lavanya Chandrashekar | ||
Name: Lavanya Chandrashekar | ||
Title: Chief Financial Officer | ||
30 January 2024 |
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Diageo Recast unaudited historical financial information |