Haleon plc (NYSE:HLN) Q1 2024 Earnings Call Transcript

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And then look, Aquafresh, I think it benefited the middle – you saw that rather last year given the overall environment. I think that has come probably down to what is more normal. This is a brand that’s been flattish, sometimes slightly declining, so nothing to particularly call out. If it would generate a major up or down in the category, we have called it out, but I think it’s now back to what was always done. I think it’s a non-strategic brand for us. It is the exception of a few markets here or there. And it’s rather small as it also doesn’t impact the overall growth of the category dramatically.

Mikheil Omanadze: Very clear. Thank you.

Tobias Hestler: Thanks Mikheil.

Operator: Thank you. Ladies and gentlemen, we will end the question-and-answer. Sorry, we do have a last-minute question. The next question is from the line of Chris Pitcher with Redburn. Please go ahead.

Chris Pitcher: Hi. Good morning. Sonya, hopefully, you can hear me, I am on a mobile?

Tobias Hestler: Yes.

Chris Pitcher: Tobias, I appreciate you still have eight months to go and a couple of quarters to deliver. So, I will take my thanks and appreciation for the last meeting. It’s been noted you have delivered a lot over your time. What’s coming in? What’s to do? I mean clearly, there is a productivity program to deliver. There is – is there more to do on working capital that you did make some improvements in ‘22, ‘23? Is it M&A? And just can you be a bit more specific, what skill set, is it that you think made a good fit? Thanks.

Tobias Hestler: Thanks Chris. So, look, I think the – I don’t think the journey is done, right. I mean even when we came out at the Capital Markets Day, right. Brian and I said, look, there is a phase now that we stand up as a company and establish it as a self-standing company. I think we have done that well. And then there is a second phase of making this a more agile and more competitive consumer company, and which is starting on that phase, right. I think that’s why we started the productivity program, but there is way more and much more to do on that journey because that is a multiyear journey. And I think that is something that I am working on right now, and I will continue to do so. And I think then this is something that I have to do – have absolute belief in that, that Don will be able to continue on that because she brings over two decades of deep, deep, deep consumer experience even more than I had, right.

She spent her whole career in the consumer world, given that she has done and she has had local role, regional role, global role, sales role, marketing, so it’s really a deep consumer expert, which I think will be good for the business going forward. So, I truly believe that the business will be in good hands with her as well. And I think the continuation of the journey that the company is on. So, pleased what we have delivered, but I think way more to do and go. And I look forward to catching up with you and seeing you in person, Chris.

Chris Pitcher: Thank you.

Operator: Thank you. Ladies and gentlemen, that was the last question. I would now like to turn the conference back over to Tobias Hestler for any closing remarks.

Tobias Hestler: Thank you and thanks everyone for joining today. I look forward to speaking in the coming days. And as always, if there is any questions contact Sonya, the IR team, they are ready there for you, and I look forward to seeing all of you later in the year as well in person. So, thanks very much and have a great rest of the day. Thank you.

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