Annual report 2022
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Download full report (PDF)A year of delivery and momentum
Our growth strategy is delivering. The Group is now 28% larger than in 2019 on a like-for-like net revenue basis, driven by the strength of our iconic brands, which are often number one or two globally or in their markets.
Dynamic, inclusive and collaborative
We are nurturing our dynamic, inclusive and collaborative culture to take on the fight for a cleaner, healthier world. We celebrate and encourage behaviours rooted in our shared sense of purpose.
Download more1. Adjusted and other non-GAAP measures, definitions and terms are defined on page 75 of the Annual Report.
2. Based on Advantage Group 2022 survey of retailers. 100bps increase in markets rated top tier, from 43.7% in 2021 to 44.7% 2022. Share of markets excludes US
3. Increase from 24.0% (YTD Oct 2021) to 24.7% (YTD Oct 2022)
4. Increase from 22.2% (Dec 2020) to 23.3% (Nov 2021)
Strategic imperatives
Our strategic imperatives are those areas of focus which support our medium-term objectives of delivering sustainable mid-single-digit growth and mid-20s adjusted operating margins.
Download strategic report01Grow our brands and innovate
Investing in our brands to drive equity and improve our consumer product offering.
02Drive superior execution
Investing in capability centres for commercial excellence – sales outperformance, marketing excellence, eRB and medical sales.
03Invest in capabilities
Investing in centralised areas, including our supply chain, R&D and digital channels, to strengthen the core of our business and support our three Global Business Units.
04Increase productivity
Embedding programmes to enhance the company’s effectiveness and efficiency, and to fund investment.
05Embed sustainability
Incorporating sustainability throughout our value chain and across our business.
06Actively manage the portfolio
Moving the company to higher growth and addressing structural challenges.
Strategic growth drivers
Our category-led growth strategy is anchored in consumer demand. We use our deep consumer insights, combined with our strength in science and technology to drive growth via our strategic levers.
01Product penetration
Increasing product usage by capturing new consumers and households.
02Market share gains
Winning by serving existing consumers faster, better, and more efficiently with superior and more relevant products.
03Expansion into new places
Taking our brands and products into new geographies and new channels.
04Expansion into new spaces
Capturing new market opportunities using our brands and consumer relationships.
Our 2030 sustainability ambitions
Our 2030 ambitions embed sustainability at the core of our business and build on the progress we have already made. They focus on three areas:
We sell more than 30 million products every single day. We want to have a positive impact by selling products people want and that make a positive difference in the world.
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Our business model
How we create value
We have established a virtuous cycle of sustainable growth, underpinned by our strong culture, exceptional people and world-leading brands. A high gross margin business, our investments and innovation drive our productivity and revenue, which leads to higher operating profits.
Download moreTackling four big global problems
Reckitt fights to help tackle four big problems for humanity. Our brands help people meet these challenges. Growing our markets increases our impact.
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We supply products that meet the highest hygiene standards. We promote hygiene as the foundation for health.
Innovation
Innovation is a key engine for growth at Reckitt. We develop superior solutions grounded in science that delight consumers and extend our categories. Our expanded knowledge base and strengthened innovation pipeline are unlocking new opportunities for sustainable growth.
Download moreExecutional resilience
In the face of economic, political and public health shocks in recent years we have sharpened our executional resilience. We’re meeting consumer needs in fluid times as an agile, responsive and competitive business.
Our productivity jouney
We are doing more by cutting waste and building foundational capabilities.
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Strategic report
Download PDFChair's statement
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KPMG assurance
Our UK Gender Pay Gap 2022 reporting methodology supports the UK figures published in the annual report. Gender pay data (mean, median pay and bonus measures) have been independently assured by KPMG.