Haleon (HLN) Barclays 18th Annual Global Consumer Staples Conference 2025 summary

Financial guidance and market outlook

• Sales guidance was adjusted to around 3.5% growth, with profit guidance raised to high single digits, supported by strong productivity gains.

• U.S. market faces muted growth and inventory pressures, with proactive retailer management to avoid out-of-stocks.

• Growth in EMEA, LATAM, and Asia-Pacific is expected to accelerate, balancing U.S. softness.

• Volume mix is closely tracked, aiming for a balanced contribution from volume and price within the 4%-6% organic growth target.

• Inventory destocking in the U.S. is expected to persist at similar levels, with strong visibility and active management.

Category and channel performance

• Oral health continues to outperform, with Sensodyne and parodontax expanding globally and driving share gains.

• Smoker's health remains a drag but is expected to stabilize with new FDA-approved innovation launching.

• BMS (vitamins and supplements) faces challenges in the U.S. but grows well in emerging markets, with new science-backed claims being activated.

• Channel shift toward retailers like Amazon and Walmart is beneficial, with higher brand shares online than in brick-and-mortar.

• U.S. market share is growing overall, with oral health leading and Advil stabilizing after earlier share pressure.

Regional strategies and growth initiatives

• China JV buyout unlocks full profit and operational control, enabling broader pharmacy reach and cost synergies.

• India is a key growth market, with Sensodyne now the second largest globally and distribution expanding from 0.5 million to 3 million outlets.

• Low-income consumer focus in emerging markets is driving tailored product launches and long-term category creation.

• Portfolio expansion in India includes launches of parodontax, Iodex, ENO, and Centrum, with careful attention to price points and margins.