The Procter & Gamble Company (PG) 2024 Deutsche Bank dbAccess Global Consumer Conference summary

Conference overview

• The event gathered over 100 consumer companies from staples, luxury, apparel, retail, and restaurant sectors for three days of investor and management discussions.

• Key presentations focused on results, strategy, and operational excellence, with a spotlight on balanced growth and value creation.

Results and momentum

• Organic sales grew 4% in Q1–Q3 FY24, following 7% growth in FY23 and FY22.

• Home Care and Grooming led category growth with 10% and 9% organic sales increases, respectively, in Q1–Q3 FY24.

• Core EPS rose 15% year-over-year for the nine months ended March 31, 2024.

• Adjusted free cash flow productivity remained strong at 93% for the nine months ended March 31, 2024.

• P&G maintained industry-leading global market share in top categories through April 2024.

Financial and operational performance

• Achieved five consecutive years of 5%+ organic sales growth, with 2023 results in the 4%-5% guidance range despite headwinds in China and EMEA.

• Nine of ten categories grew organic sales; core EPS up 15% (19% currency neutral); $10B+ returned to shareholders via dividends and buybacks.

• 68th consecutive annual dividend increase announced; productivity savings exceeded $1.3B YTD, on track for $1.5B for the year.

• Dividend payments have been made for 134 consecutive years, with 68 consecutive annual increases.

• Over $145 billion returned to shareholders via dividends and share repurchases over the past decade.