9th Sep 2014 09:00
9 September 2014
Diageo issues revised segmental information for prior reporting periods
As announced on 30 July 2014, Diageo has made changes to management responsibilities. An assessment was subsequently made to determine how the business will be presented in its management reporting to the executive committee and this has led to a change in the reporting of the group's external geographic segments. For the year ending 30 June 2015 the following geographical segments will be reported:
· North America
· Europe
· Africa
· Latin America and Caribbean
· Asia Pacific
· Corporate
As a consequence of this change the figures for the geographical segments for prior periods have been restated.
Revised segmental information for the years ended 30 June 2014 and 30 June 2013 and the six month period ended 31 December 2013 is provided below.
Organic growth percentages by geographic segment for the year ended 30 June 2014 are also provided.
Volume
Year ended 30 June 2014 | Year ended 30 June 2013 | ||||||
As reported units million |
Reclass units million |
Restated units million | As reported units million |
Reclass units million |
Restated units million | ||
North America | 49.3 | - | 49.3 | 53.6 | - | 53.6 | |
Europe | - | 44.6 | 44.6 | - | 45.4 | 45.4 | |
Western Europe | 33.0 | (33.0) | - | 33.6 | (33.6) | - | |
Africa | - | 24.4 | 24.4 | - | 26.1 | 26.1 | |
Africa, Eastern Europe and Turkey | 36.0 | (36.0) | - | 37.9 | (37.9) | - | |
Latin America and Caribbean | 23.0 | - | 23.0 | 23.3 | - | 23.3 | |
Asia Pacific | 14.8 | - | 14.8 | 15.8 | - | 15.8 | |
156.1 | - | 156.1 | 164.2 | - | 164.2 | ||
Six months ended 31 Dec 2013 | |||||||
As reported units million |
Reclass units million |
Restated units million | |||||
North America | 26.5 | - | 26.5 | ||||
Europe | - | 24.3 | 24.3 | ||||
Western Europe | 17.7 | (17.7) | - | ||||
Africa | - | 12.8 | 12.8 | ||||
Africa, Eastern Europe and Turkey | 19.4 | (19.4) | - | ||||
Latin America and Caribbean | 12.5 | - | 12.5 | ||||
Asia Pacific | 8.2 | - | 8.2 | ||||
84.3 | - | 84.3 | |||||
Sales
Year ended 30 June 2014 | Year ended 30 June 2013 | ||||||
As reported £ million |
Reclass £ million |
Restated £ million | As reported £ million |
Reclass £ million |
Restated £ million | ||
North America | 3,915 | - | 3,915 | 4,262 | - | 4,262 | |
Europe | - | 4,935 | 4,935 | - | 5,074 | 5,074 | |
Western Europe | 3,644 | (3,644) | - | 3,669 | (3,669) | - | |
Africa | - | 1,846 | 1,846 | - | 2,014 | 2,014 | |
Africa, Eastern Europe and Turkey | 3,137 | (3,137) | - | 3,419 | (3,419) | - | |
Latin America and Caribbean | 1,404 | - | 1,404 | 1,741 | - | 1,741 | |
Asia Pacific | 1,801 | - | 1,801 | 2,109 | - | 2,109 | |
Corporate | 79 | - | 79 | 76 | - | 76 | |
13,980 | - | 13,980 | 15,276 | - | 15,276 | ||
Six months ended 31 Dec 2013 | |||||||
As reported £ million |
Reclass £ million |
Restated £ million | |||||
North America | 2,149 | - | 2,149 | ||||
Europe | - | 2,707 | 2,707 | ||||
Western Europe | 1,970 | (1,970) | - | ||||
Africa | - | 1,002 | 1,002 | ||||
Africa, Eastern Europe and Turkey | 1,739 | (1,739) | - | ||||
Latin America and Caribbean | 1,102 | - | 1,102 | ||||
Asia Pacific | 1,012 | - | 1,012 | ||||
Corporate | 42 | - | 42 | ||||
8,014 | - | 8,014 | |||||
Net sales
Year ended 30 June 2014 | Year ended 30 June 2013 | ||||||
As reported £ million |
Reclass £ million |
Restated £ million | As reported £ million |
Reclass £ million |
Restated £ million | ||
North America | 3,444 | - | 3,444 | 3,723 | - | 3,723 | |
Europe | - | 2,814 | 2,814 | - | 2,915 | 2,915 | |
Western Europe | 2,169 | (2,169) | - | 2,203 | (2,203) | - | |
Africa | - | 1,430 | 1,430 | - | 1,564 | 1,564 | |
Africa, Eastern Europe and Turkey | 2,075 | (2,075) | - | 2,276 | (2,276) | - | |
Latin America and Caribbean | 1,144 | - | 1,144 | 1,453 | - | 1,453 | |
Asia Pacific | 1,347 | - | 1,347 | 1,572 | - | 1,572 | |
Corporate | 79 | - | 79 | 76 | - | 76 | |
10,258 | - | 10,258 | 11,303 | - | 11,303 | ||
Six months ended 31 Dec 2013 | |||||||
As reported £ million |
Reclass £ million |
Restated £ million | |||||
North America | 1,904 | - | 1,904 | ||||
Europe | - | 1,560 | 1,560 | ||||
Western Europe | 1,179 | (1,179) | - | ||||
Africa | - | 774 | 774 | ||||
Africa, Eastern Europe and Turkey | 1,155 | (1,155) | - | ||||
Latin America and Caribbean | 900 | - | 900 | ||||
Asia Pacific | 752 | - | 752 | ||||
Corporate | 42 | - | 42 | ||||
5,932 | - | 5,932 | |||||
Marketing spend
Year ended 30 June 2014 | Year ended 30 June 2013 | ||||||
As reported £ million |
Reclass £ million |
Restated £ million | As reported £ million |
Reclass £ million |
Restated £ million | ||
North America | 540 | - | 540 | 581 | - | 581 | |
Europe | - | 413 | 413 | - | 431 | 431 | |
Western Europe | 323 | (323) | - | 328 | (328) | - | |
Africa | - | 152 | 152 | - | 162 | 162 | |
Africa, Eastern Europe and Turkey | 242 | (242) | - | 265 | (265) | - | |
Latin America and Caribbean | 203 | - | 203 | 233 | - | 233 | |
Asia Pacific | 305 | - | 305 | 356 | - | 356 | |
Corporate | 7 | - | 7 | 6 | - | 6 | |
1,620 | - | 1,620 | 1,769 | - | 1,769 | ||
Six months ended 31 Dec 2013 | |||||||
As reported £ million |
Reclass £ million |
Restated £ million | |||||
North America | 293 | - | 293 | ||||
Europe | - | 231 | 231 | ||||
Western Europe | 177 | (177) | - | ||||
Africa | - | 81 | 81 | ||||
Africa, Eastern Europe and Turkey | 135 | (135) | - | ||||
Latin America and Caribbean | 123 | - | 123 | ||||
Asia Pacific | 170 | - | 170 | ||||
Corporate | 5 | - | 5 | ||||
903 | - | 903 | |||||
Operating profit before exceptional items
Year ended 30 June 2014 | Year ended 30 June 2013 | ||||||
As reported £ million |
Reclass £ million |
Restated £ million | As reported £ million |
Reclass £ million |
Restated £ million | ||
North America | 1,460 | - | 1,460 | 1,478 | - | 1,478 | |
Europe | - | 853 | 853 | - | 903 | 903 | |
Western Europe | 639 | (639) | - | 650 | (650) | - | |
Africa | - | 340 | 340 | - | 400 | 400 | |
Africa, Eastern Europe and Turkey | 554 | (554) | - | 653 | (653) | - | |
Latin America and Caribbean | 328 | - | 328 | 468 | - | 468 | |
Asia Pacific | 283 | - | 283 | 381 | - | 381 | |
Corporate | (130) | - | (130) | (151) | - | (151) | |
3,134 | - | 3,134 | 3,479 | - | 3,479 | ||
Six months ended 31 Dec 2013 | |||||||
As reported £ million |
Reclass £ million |
Restated £ million | |||||
North America | 851 | - | 851 | ||||
Europe | - | 509 | 509 | ||||
Western Europe | 370 | (370) | - | ||||
Africa | - | 188 | 188 | ||||
Africa, Eastern Europe and Turkey | 327 | (327) | - | ||||
Latin America and Caribbean | 386 | - | 386 | ||||
Asia Pacific | 193 | - | 193 | ||||
Corporate | (67) | - | (67) | ||||
2,060 | - | 2,060 | |||||
Organic growth for the year ended 30 June 2014
Volume | Sales | Net sales | |||||||
Increase/(decrease) | As reported |
Restated | As reported |
Restated | As reported |
Restated | |||
% | % | % | % | % | % | ||||
North America | (1) | (1) | 3 | 3 | 3 | 3 | |||
Europe | - | (1) | - | 2 | - | 1 | |||
Western Europe | Flat | - | 1 | - | Flat | - | |||
Africa | - | (6) | - | Flat | - | Flat | |||
Africa, Eastern Europe and Turkey | (5) | - | 3 | - | 1 | - | |||
Latin America and Caribbean | (1) | (1) | 5 | 5 | 2 | 2 | |||
Asia Pacific | (5) | (5) | (7) | (7) | (7) | (7) | |||
Corporate | n/a | n/a | 4 | 4 | 4 | 4 | |||
Total | (2) | (2) | 1 | 1 | Flat | Flat | |||
Marketing spend | Operating profit* | ||||||||
Increase/(decrease) | As reported |
Restated | As reported |
Restated | |||||
% | % | % | % | ||||||
North America | 2 | 2 | 8 | 8 | |||||
Europe | - | (1) | - | 1 | |||||
Western Europe | Flat | - | Flat | - | |||||
Africa | - | 3 | - | (2) | |||||
Africa, Eastern Europe and Turkey | 1 | - | Flat | - | |||||
Latin America and Caribbean | 1 | 1 | 3 | 3 | |||||
Asia Pacific | (7) | (7) | (13) | (13) | |||||
Corporate | 17 | 17 | 13 | 13 | |||||
Total | (1) | (1) | 3 | 3 | |||||
* Operating profit before exceptional items
The reported figures are those reported in the press release dated 31 July 2014.
Net sales are after deducting excise duties. See the company's 2014 UK annual report and annual report on Form 20-F for the year ended 30 June 2014 filed with the US Securities and Exchange Commission (SEC) for an explanation of organic movement calculations and further definitions, disclosures and information.
Contacts
Investor enquiries to: Catherine James +44 (0) 20 8978 2272
Pier Falcione +44 (0) 20 8978 4838
Angela Ryker Gallagher +44 (0) 20 8978 4911
Colette Wright +44 (0) 20 8978 1380
Media enquiries to: James Crampton +44 (0) 20 8978 4613
Victoria Ward +44 (0) 20 8978 4353
Editor notes
Diageo is a global leader in beverage alcohol with an outstanding collection of brands across spirits, beer and wine categories. These brands include Johnnie Walker, Crown Royal, JεB, Buchanan's, Windsor and Bushmills whiskies, Smirnoff, Cîroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Tanqueray and Guinness.
Diageo is a global company, and our products are sold in more than 180 countries around the world. The company is listed on both the London Stock Exchange (DGE) and the New York Stock Exchange (DEO). For more information about Diageo, our people, our brands, and performance, visit us at www.diageo.com. Visit Diageo's global responsible drinking resource, www.DRINKiQ.com, for information, initiatives, and ways to share best practice.
Celebrating life, every day, everywhere.
Important information
This announcement is not intended to and does not constitute or form part of any offer to sell or subscribe for or any invitation to purchase or subscribe for any securities in any jurisdiction.
The release, publication or distribution of this announcement in certain jurisdictions may be restrict by law and therefore any persons who are subject to the laws of any jurisdiction other than the United Kingdom should observe any applicable requirements. This announcement has been prepared for the purpose of complying with the laws of the United Kingdom and the information disclosed may not be the same as that which would have been disclosed if this announcement had been prepared in accordance with the laws of jurisdictions outside the United Kingdom.
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