Diageo PLC Supply review and revised segmental information (6626Z)
11 March 2013 - 6:00PM
UK Regulatory
TIDMDGE
RNS Number : 6626Z
Diageo PLC
11 March 2013
Revised segmental information
11 March 2013
Diageo announces review of Global Supply operations and issues
revised segmental information for prior reporting periods
Diageo has today announced that its Global Supply and
Procurement operation will be refocused to enhance alignment
between Global Supply and Diageo's 21 key markets. Responsibility
for local operations will be transferred to the markets and
regional structures will be reduced. The Global supply organisation
will continue to be responsible for ensuring excellence across all
operations. This change follows the reshaping of the in-market
organisations through the implementation of the 2011 operating
model review and is a consequence of Diageo's increasing presence
in new faster growth markets.
Further work will be required to establish the exact nature of
the reorganisation to be made. However an initial review has
already established that efficiency-driven cost savings can be
delivered which together with savings from footprint changes and
cost reductions in respect of the regional supply organisations are
expected to amount to approximately GBP60 million per annum. These
savings are expected to be achieved in 3 years. Costs associated
with the restructuring are estimated to be approximately GBP100
million.
Changes to reporting regional structure
As announced on 9 November 2012, Diageo has made changes to
management responsibilities that have led to a change in the
reporting for geographic segments. Due to these changes, results
for the year ending 30 June 2013 will be reported using the
following geographical segments:
-- North America
-- Western Europe
-- Africa, Eastern Europe and Turkey
-- Latin America and Caribbean
-- Asia Pacific
-- Corporate
As a consequence of these changes the figures for the
geographical segments for prior periods have been restated.
Revised segmental information for the years ended 30 June 2012
and 30 June 2011 and the six month period ended 31 December 2012
and 31 December 2011 are provided below.
In addition, organic growth percentages by geographic segment
have been restated for the year ended 30 June 2012 and the six
month period ended 31 December 2012.
Volume
Year ended 30 June Year ended 30 June
2012 2011
----------------------------------- -----------------------------------
As As
reported Reclass Restated reported Reclass Restated
units units units units units units
million million million million million million
North America 53.0 - 53.0 52.3 - 52.3
Europe 45.2 (45.2) - 40.5 (40.5) -
Western Europe - 34.7 34.7 - 35.6 35.6
Africa 24.9 (24.9) - 23.1 (23.1) -
Africa, Eastern Europe
and Turkey - 35.4 35.4 - 28.0 28.0
Latin America and Caribbean 17.2 - 17.2 15.7 - 15.7
Asia Pacific 16.2 - 16.2 15.9 - 15.9
156.5 - 156.5 147.5 - 147.5
Six months ended 31 Six months ended 31
Dec 2012 Dec 2011
----------------------------------- -----------------------------------
As As
reported Reclass Restated reported Reclass Restated
units units units units units units
million million million million million million
North America 28.6 - 28.6 28.3 - 28.3
Europe 24.9 (24.9) - 24.8 (24.8) -
Western Europe - 18.3 18.3 - 19.2 19.2
Africa 13.7 (13.7) - 12.9 (12.9) -
Africa, Eastern Europe
and Turkey - 20.3 20.3 - 18.5 18.5
Latin America and Caribbean 12.8 - 12.8 9.5 - 9.5
Asia Pacific 8.8 - 8.8 8.6 - 8.6
88.8 - 88.8 84.1 - 84.1
Sales
Year ended 30 June Year ended 30 June
2012 2011
--------------------------------------------- ---------------------------------------------
As As
reported Reclass Restated reported Reclass Restated
GBP million GBP million GBP million GBP million GBP million GBP million
North America 4,094 - 4,094 3,895 - 3,895
Europe 4,966 (4,966) - 4,279 (4,279) -
Western Europe - 3,834 3,834 - 3,918 3,918
Africa 1,869 (1,869) - 1,764 (1,764) -
Africa, Eastern Europe
and Turkey - 3,001 3,001 - 2,125 2,125
Latin America and
Caribbean 1,491 - 1,491 1,293 - 1,293
Asia Pacific 2,104 - 2,104 1,931 - 1,931
Corporate 70 - 70 70 - 70
14,594 - 14,594 13,232 - 13,232
Six months ended 31 Six months ended 31
Dec 2012 Dec 2011
--------------------------------------------- ---------------------------------------------
As As
reported Reclass Restated reported Reclass Restated
GBP million GBP million GBP million GBP million GBP million GBP million
North America 2,223 - 2,223 2,162 - 2,162
Europe 2,735 (2,735) - 2,699 (2,699) -
Western Europe - 1,985 1,985 - 2,137 2,137
Africa 1,043 (1,043) - 950 (950) -
Africa, Eastern Europe
and Turkey - 1,793 1,793 - 1,512 1,512
Latin America and
Caribbean 967 - 967 843 - 843
Asia Pacific 1,225 - 1,225 1,132 - 1,132
Corporate 42 - 42 39 - 39
8,235 - 8,235 7,825 - 7,825
Net sales
Year ended 30 June Year ended 30 June
2012 2011
--------------------------------------------- ---------------------------------------------
As As
reported Reclass Restated reported Reclass Restated
GBP million GBP million GBP million GBP million GBP million GBP million
North America 3,556 - 3,556 3,366 - 3,366
Europe 2,949 (2,949) - 2,703 (2,703) -
Western Europe - 2,345 2,345 - 2,433 2,433
Africa 1,447 (1,447) - 1,357 (1,357) -
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