Q1 Results 2025

SOLID START WITH CONTINUED STRATEGIC DELIVERY

"We delivered a solid first quarter driven by Core Reckitt with continued strong growth in Emerging Markets. We continue to execute against our strategy to make Reckitt a more efficient, world-class consumer health and hygiene company, driven by increased investment, innovation, and our Fuel for Growth programme. Our portfolio of high-growth, high-margin Powerbrands underpins our resilience, and we maintain our outlook for full year 2025 whilst recognising the more challenging macroeconomic outlook."

Kris Licht, Chief Executive Officer

1.     Adjusted and Non-GAAP measures are defined on page 6.

1.     Adjusted and Non-GAAP measures are defined on page 6.

Emerging Markets (40% of Core Reckitt Q1 net revenue)

Europe (34% of Core Reckitt Q1 net revenue)

North America (26% of Core Reckitt Q1 net revenue)

1.     Adjusted and Non-GAAP measures are defined on page 6.

Core Reckitt (71% of Group Q1 net revenue)

Self-Care

Germ Protection

Household Care

Intimate Wellness

Essential Home (13% of Group Q1 net revenue)

Mead Johnson Nutrition (16% of Group Q1 net revenue)

We maintain our FY 2025 outlook

We will be hosting a live audiocast followed by a Q&A session for analysts and investors at 08:30 (BST) on Wednesday 23 April 2025 at https://www.reckitt.com/investors/results-and-presentations/   

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Cautionary note concerning forward-looking statements

This announcement contains statements with respect to the financial condition, results of operations and business of Reckitt Benckiser Group plc and the Reckitt group of companies (the "Group") and certain of the plans and objectives of the Group that are forward-looking statements. Words such as ''intends', 'targets', or the negative of these terms and other similar expressions of future performance or results, and their negatives, are intended to identify such forward-looking statements. In particular, all statements that express forecasts, expectations and projections with respect to future matters, including targets for net revenue, operating margin and cost efficiency, are forward-looking statements. Such statements are not historical facts, nor are they guarantees of future performance.

By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements, including many factors outside the Group's control. Among other risks and uncertainties, the material or principal factors which could cause actual results to differ materially are: the general economic, business, political, geopolitical and social conditions in the key markets in which the Group operates; the Group's ability to innovate and remain competitive; the Group's investment choices in its portfolio management; the ability of the Group to address existing and emerging environmental and social risks and opportunities; the ability of the Group to manage regulatory, tax and legal matters, including changes thereto; the reliability of the Group's technological infrastructure or that of third parties on which the Group relies including the risk of cyber-attack; interruptions in the Group's supply chain and disruptions to its production facilities; economic volatility including increases in tariffs and the cost of labour, raw materials and commodities; the execution of acquisitions, divestitures and business transformation projects; product safety and quality, and the reputation of the Group's global brands; and the recruitment and retention of key management.

These forward-looking statements speak only as of the date of this announcement. Except as required by any applicable law or regulation, the Group expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Group's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

LEI: 5493003JFSMOJG48V108

Like-for-like (LFL): Net revenue growth or decline at constant exchange rates (see below) excluding the impact of acquisitions, disposals and discontinued operations.  Disposals include low margin manufacturing revenues which are agreed at the time of sale of a brand or business. Completed disposals are excluded from LFL revenue growth for the entirety of the current and prior years. Acquisitions are included in LFL revenue growth twelve months after the completion of the relevant acquisition. LFL growth also excludes countries with annual inflation greater than 100% (Venezuela and Argentina).

Constant exchange rate (CER): Net revenue and profit growth or decline adjusting the actual consolidated results such that the foreign currency conversion uses the same exchange rates as were applied in the prior year and excludes the effect of applying hyperinflation accounting in the relevant subsidiaries.

Reconciliation of IFRS to Like-for-Like Net Revenue

^{1 In 2025, Reckitt has transferred some globally managed export businesses to be locally managed (within Reckitt Core and Essential Home). 2024 comparatives have been restated based on the location of the customer, rather than the UK domicile of the legal entity.}

^{2 Updated from results issued on 6 March 2025, for certain products that are being managed as part of germ protection rather than household portfolio.}

Reconciliation of IFRS like-for-like net revenue excluding seasonal OTC brands