The following is a summary of the Reckitt Benckiser Group Plc (RBGPF) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Reckitt Benckiser witnessed a progressive 2023 with net revenue growth surpassing expectations, despite a small setback due to a discrepancy in the Middle East markets.

• Gross margins improved to 60%, helping to underpin increased brand and innovation investments.

• A year-end adjusted operating profit of £3.373 billion was reported, despite a minor decrease in adjusted diluted earnings per share (down by 5.4%).

• The company saw an 11% highest on record surge in free cash flows, achieving £2.258 billion.

• The company returned a resonating £1.5 billion to shareholders through dividends and share buybacks.

Business Progress:

• Reckitt Benckiser's health and hygiene divisions delivered mid-single-digit growth, a trend it expects to sustain through 2024.

• A fixed cost optimization program was launched and is anticipated to support future growth.

• Compliance issues in two Middle Eastern markets and a voluntary product recall in the Nutrition business were immediately addressed.

• The firm plans to continue investing in product quality, branding, and executing its strategies consistently.

• The company emphasized their commitment to dividend growth and are expected to continue their share buyback actions.

• Growth plans for 2024 include high-to-mid single-digit decline in Nutrition with a return to growth by year-end, an increase in capex range to 3-3.5%, and like-for-like net revenue growth of 2-4%.

• A strong free cash flow is expected to be delivered in 2024, allowing for additional returns to shareholders.

More details: RECKITT BENCKISER GROUP PLC IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.