Information  X 
Enter a valid email address

GlaxoSmithKline PLC (GSK)

  Print      Mail a friend       Annual reports

Friday 21 March, 2014

GlaxoSmithKline PLC

GSK - historical restated financial information

RNS Number : 8946C
GlaxoSmithKline PLC
21 March 2014
 



 

Issued: 21 March 2014, London, UK - LSE Announcement

 

 

GSK publishes historical quarterly restated financial information

 

 

As previously announced, for 2014, GlaxoSmithKline (LSE:GSK) will adopt a revised presentation for the analysis of its Pharmaceuticals and Vaccines turnover by segment, product and therapeutic area that identifies revenues from an Established Products Portfolio as a new segment.  This new segment comprises a portfolio of over 50 tail brands.

GSK has also announced its intention to report core results performance for 2014 measured against 2013 core results excluding the results attributable to divestments completed during 2013. In addition to reporting core results, GSK will continue to report its total results measured against 2013 total results.

The revised reporting approach reflects the financial information provided to the Chief Executive Officer and the responsibilities of the Corporate Executive Team (CET).

In addition, the classification of certain products has been changed in 2014, including:

·

The transfer of the OTC dermatology brands acquired with the Stiefel business from the Pharmaceuticals and Vaccines business to the Consumer Healthcare business in the majority of emerging markets;

·

The combination of certain previous therapeutic categories into a new therapeutic category presentation that reflects the key areas of focus for the business and the impact of the transfer of the majority of the brands in some therapeutic areas into the new Established Products Portfolio;

·

The transfer of the OTC vitamins brands from inclusion under the Wellness category in Consumer Healthcare to inclusion under the Nutrition category.


In 2014, GSK also intends to report Pharmaceuticals and Vaccines turnover by product for the Japan segment.  The previous EMAP segment is now named Emerging Markets.

In order to assist future comparability with historical data, for each quarter since the period ended 31 March 2013, and for the full years 2012 and 2013, this release includes the following information presented on a like-for-like basis with the classifications that will be reported in 2014:

·    Core results excluding the results attributable to divestments completed during 2013;

·    Pharmaceuticals and Vaccines turnover by product and region (excluding turnover attributable to divestments completed during 2013);

·    Consumer Healthcare turnover by category and region (excluding turnover attributable to divestments completed during 2013);

·    CER growth rates have been calculated for 2013 excluding the impact on the growth rate of the divestments completed in 2013 but including the impact of divestments completed in earlier periods.

An Excel version of this data will be available on www.gsk.com/investors.

 

V A Whyte

Company Secretary

21 March 2014

 

GSK - one of the world's leading research-based pharmaceutical and healthcare companies - is committed to improving the quality of human life by enabling people to do more, feel better and live longer.  For further information please visit www.gsk.com.

 

 

GSK enquiries:




UK Media enquiries:

David Mawdsley

+44 (0) 20 8047 5502

(London)


Simon Steel

+44 (0) 20 8047 5502

(London)





US Media enquiries:

Stephen Rea

+1 215 751 4394

(Philadelphia)


Melinda Stubbee

+1 919 483 2510

(North Carolina)





Analyst/Investor enquiries:

Ziba Shamsi

+44 (0) 20 8047 5543

(London)


Tom Curry

+1 215 751 5419

(Philadelphia)


Gary Davies

+44 (0) 20 8047 5503

(London)


James Dodwell

+44 (0) 20 8047 2406

(London)


Jeff McLaughlin

+1 215 751 7002

(Philadelphia)


Lucy Singah

+44 (0) 20 8047 2248

(London)

 

 

CER growth

In order to illustrate underlying performance, it is the Group's practice to discuss its results in terms of constant exchange rate (CER) growth.  This represents growth calculated as if the exchange rates used to determine the results of overseas companies in Sterling had remained unchanged from those used in the comparative period.

 

Core results

Core results exclude the following items from total results: amortisation and impairment of intangible assets (excluding computer software) and goodwill; major restructuring costs, including those costs following material acquisitions; legal charges (net of insurance recoveries) and expenses on the settlement of litigation and government investigations, and acquisition accounting adjustments relating to the consolidation of material acquisitions, disposals of associates, products and businesses, other operating income other than royalty income and other items, together with the tax effects of all of these items.  GSK believes this approach provides a clearer view of the underlying performance of the core business and should make the Group's results more comparable with the majority of its peers.

Reconciliations of core results as previously reported to total results for 2013 have been included in an appendix to this document.

 

Brand names and partner acknowledgements

Brand names appearing in italics throughout this document are trademarks of GSK or associated companies or used under licence by the Group.

 

This Announcement does not constitute statutory accounts of the Group within the meaning of sections 434(3) and 435(3) of the Companies Act 2006.  The information for 2013 has been derived from the full Group accounts published in the Annual Report 2013.

 

Cautionary statement regarding forward-looking statements
GSK cautions investors that any forward-looking statements or projections made by GSK, including those made in this announcement, are subject to risks and uncertainties that may cause actual results to differ materially from those projected. Such factors include, but are not limited to, those described under Item 3.D 'Risk factors' in the company's Annual Report on Form 20-F for 2013.

 

 

 

 

Registered in England & Wales:

No. 3888792


Registered Office:

980 Great West Road

Brentford, Middlesex

TW8 9GS

 

Group turnover by segment

2013

Q4 2013


-----------------------------------

-----------------------------------


£m

Growth
CER%

£m

Growth
CER%


------------

------------

------------

------------

Pharmaceuticals and Vaccines





-

US

5,817

4

1,514

11

-

Europe

4,226

3

1,100

-

-

Emerging Markets

3,370

3

983

9

-

Japan

1,058

6

316

26

-

ViiV Healthcare

1,386

-

385

15

-

Established Products

3,874

(8)

947

(9)

-

Other trading and unallocated pharmaceuticals

1,115

11

328

26


------------

------------

------------

------------

Pharmaceuticals and Vaccines

20,846

1

5,573

6

Consumer Healthcare

4,756

2

1,127

-


------------

------------

------------

------------

Segment turnover excluding divestments

25,602

2

6,700

5


------------

------------

------------

------------

Segment turnover including divestments

26,505

1

6,906

5


------------

------------

------------

------------

 

 


9 months 2013

Q3 2013


-----------------------------------

-----------------------------------


£m

Growth
CER%

£m

Growth
CER%


------------

------------

------------

------------

Pharmaceuticals and Vaccines





-

US

4,303

2

1,522

4

-

Europe

3,126

4

1,049

9

-

Emerging Markets

2,387

1

781

(7)

-

Japan

742

(1)

210

3

-

ViiV Healthcare

1,001

(5)

344

(5)

-

Established Products

2,927

(8)

906

(9)

-

Other trading and unallocated pharmaceuticals

787

6

272

10


------------

------------

------------

------------

Pharmaceuticals and Vaccines

15,273

-

5,084

-

Consumer Healthcare

3,629

3

1,190

4


------------

------------

------------

------------

Segment turnover excluding divestments

18,902

-

6,274

1


------------

------------

------------

------------

Segment turnover including divestments

19,599

-

6,510

1


------------

------------

------------

------------

 


6 months 2013

Q2 2013


-----------------------------------

-----------------------------------


£m

Growth
CER%

£m

Growth
CER%


------------

------------

------------

------------

Pharmaceuticals and Vaccines





-

US

2,781

1

1,439

11

-

Europe

2,077

2

1,060

4

-

Emerging Markets

1,606

6

840

3

-

Japan

532

(3)

229

3

-

ViiV Healthcare

657

(5)

339

(4)

-

Established Products

2,021

(8)

1,018

(10)

-

Other trading and unallocated pharmaceuticals

515

4

260

4


------------

------------

------------

------------

Pharmaceuticals and Vaccines

10,189

-

5,185

2

Consumer Healthcare

2,439

2

1,188

2


------------

------------

------------

------------

Segment turnover excluding divestments

12,628

-

6,373

2


------------

------------

------------

------------

Segment turnover including divestments

13,089

-

6,618

2


------------

------------

------------

------------

 

 

 



Q1 2013



-----------------------------------




£m

Growth
CER%




------------

------------

Pharmaceuticals and Vaccines




-

US


1,342

(7)

-

Europe


1,017

1

-

Emerging Markets


766

9

-

Japan


303

(7)

-

ViiV Healthcare


318

(5)

-

Established Products


1,003

(5)

-

Other trading and unallocated pharmaceuticals


255

3




------------

------------

Pharmaceuticals and Vaccines


5,004

(2)

Consumer Healthcare


1,251

1




------------

------------

Segment turnover excluding divestments


6,255

(2)



------------

------------

Segment turnover including divestments


6,471

(2)




------------

------------

 



2012



-----------------------------------




£m





------------


Pharmaceuticals and Vaccines




-

US


5,508


-

Europe


3,956


-

Emerging Markets


3,309


-

Japan


1,203


-

ViiV Healthcare


1,374


-

Established Products


4,351


-

Other trading and unallocated pharmaceuticals


1,035





------------


Pharmaceuticals and Vaccines


20,736


Consumer Healthcare


4,747





------------


Segment turnover excluding 2013 divestments


25,483




------------


Segment turnover including 2013 divestments


26,431




------------



 

Pharmaceuticals and Vaccines turnover

 

Twelve months ended 31 December 2013

 


Total 

USA 

Europe 

Emerging Markets 

Japan 

 


---------------------------- 

---------------------------- 

---------------------------- 

---------------------------- 

---------------------------- 

 


£m 

CER%

£m 

CER%

£m 

CER%

£m 

CER%

£m 

CER%

 


----------

----------

----------

----------

----------

----------

----------

----------

----------

----------

 

Respiratory

7,289

4 

3,594

7 

1,802 

(2)

837

4 

554

10 

 

Avamys/Veramyst

249

5 

42

(29)

69 

8 

71

16 

49

28 

 

Flixotide/Flovent

796

2 

482

6 

117 

(7)

58

42

(7)

 

Relvar/Breo

8

- 

5

- 

- 

- 

- 

- 

3

- 

 

Seretide/Advair

5,274

4 

2,769

8 

1,458 

(2)

429

4 

277

8 

 

Ventolin

642

2 

291

4 

127 

(2)

171

2 

9

- 

 

Other

320

4 

5

(69)

31 

(6)

108

(1)

174

14 

 












 

Oncology

969

22

380

17 

339 

28 

149

18 

63

36 

 

Arzerra

75

23

46

18 

27 

29 

-

- 

1

- 

 

Mekinist

10

- 

10

- 

- 

- 

-

- 

- 

- 

 

Promacta

186

46

73

33 

55 

47 

22

92 

30

44 

 

Tafinlar

16

- 

11

- 

4 

- 

-

- 

- 

- 

 

Tyverb/Tykerb

207

(13)

55

(21)

82 

(9)

47

(9)

17

(5)

 

Votrient

331

80

144

56 

130 

91 

37

77 

9

>100 

 

Other

144

(23)

41

(40)

41 

(17)

43

2 

6

(25)

 












 

Cardiovascular, metabolic and urology (CVMU)

1,073

(5)

456

(27)

308 

18 

135

27 

114

25 

 

Avodart

857

10 

312

(3)

273 

15 

104

27 

114

25 

 

Other

216

(40)

144

(53)

35 

48 

31

24 

- 

- 

 












 

Immuno-inflammation

161

>100

148

>100

8 

100

1

- 

- 

- 

 

Benlysta

146

>100

134

>100

8 

100

1

- 

- 

- 

 

Other

15

- 

14

- 

- 

- 

- 

- 

- 

- 

 












 

Other

2,674

5 

261

(25)

720 

2 

1,124

2 

291

36 

 

Dermatology

631

(5)

115

(37)

170 

6 

289

8 

28

3 

 

Augmentin

630

5 

1

- 

203 

(3)

393

11 

13

(6)

 

Other anti-bacterials

224

(4)

7

- 

66 

5 

148

(4)

3

- 

 

Rare diseases

495

7 

113

(4)

129 

1 

48

2 

184

18 

 

Other

694

18 

25

(37)

152 

6 

246

(11)

63

>100 

 












 












 

Vaccines

3,420

2 

978

17 

1,049 

3 

1,124

1 

36

(76)

 

Boostrix

288

19 

183

23 

65 

19 

20

25 

- 

- 

 

Cervarix

172

(37)

6

- 

61 

11 

92

23 

10

(90)

 

Fluarix, FluLaval

251

25 

146

65 

35 

(21)

43

(2)

- 

- 

 

Hepatitis

629

(4)

263

(3)

198 

(3)

123

(2)

- 

- 

 

Infanrix, Pediarix

862

9 

271

23 

398 

2 

132

11 

- 

- 

 

Rotarix

375

5 

108

7 

59 

49 

164

3 

25

(30)

 

Synflorix

405

2 

-

- 

48 

2 

350

1 

- 

- 

 

Other

438

(4)

1

(100)

185 

2 

200

(14)

1

- 

 












 


----------

----------

----------

----------

----------

----------

----------

----------

----------

----------

 

Innovative products

15,586

4

5,817

4 

4,226 

3 

3,370

3 

1,058

6 

 




----------

----------

----------

----------

----------

----------

----------

----------

 

ViiV Healthcare (HIV)

1,386

- 

552

5 

526 

(3)

171

(12)

54

14 

 

Combivir

116

(36)

35

46 

39 

(41)

35

(56)

3

(11)

 

Epzicom/Kivexa

763

14 

269

9 

328 

11 

78

38 

36

21 

 

Lexiva/Agenerase

113

(11)

62

(10)

27 

(22)

18

(1)

3

(7)

 

Selzentry

143

10

58

1 

63 

8

6

67 

3

49 

 

Tivicay

19

- 

19

- 

- 

- 

-

- 

-

- 

 

Trizivir

97

(10)

58

(6)

32 

(17)

4

(26)

-

- 

 

Other

135

(20)

51

(25)

37 

(26)

30

(8)

9

(5)

 












 












 

Established products

3,874

(8)

1,300

(7)

718 

(14)

1,157

(5)

595

(5)

 

Coreg

131

(2)

130

(2)

- 

- 

- 

- 

- 

- 

 

Hepsera

96

(21)

- 

- 

- 

- 

70

(28)

25

(3)

 

Imigran/Imitrex

188

1 

80

11 

63 

(7)

7

- 

24

(13)

 

Lamictal

557

(7)

276

(18)

110 

(4)

78

8 

83

28 

 

Lovaza

584

(5)

581

(5)

- 

- 

- 

- 

- 

- 

 

Requip

125

(18)

7

(63)

52 

(33)

14

- 

51

11 

 

Serevent

129

(10)

51

(2)

55 

(17)

4

33 

13

(20)

 

Seroxat/Paxil

285

(16)

- 

- 

53 

(11)

79

(4)

138

(22)

 

Valtrex

224

(2)

45

26 

29 

(15)

40

11 

106

(2)

 

Zeffix

182

(26)

13

(13)

12 

(25)

140

(28)

16

(5)

 

Other

1,373

(6)

117

(5)

344 

(14)

725

2 

139

(5)

 


----------

----------









 


20,846

1 









 


----------

----------









 

 

 

 The table above includes the sales by product reported in the Other trading and unallocated pharmaceuticals segment (which  includes Canada, Puerto Rico, Australasia, central vaccine tender sales and contract manufacturing sales) in the total column only.  

 

      Pharmaceuticals and Vaccines turnover
      Three months ended 31 December 2013


Total 

USA 

Europe 

Emerging Markets 

Japan 


---------------------------- 

---------------------------- 

---------------------------- 

---------------------------- 

---------------------------- 


£m 

CER%

£m 

CER%

£m 

CER%

£m 

CER%

£m 

CER%


----------

----------

----------

----------

----------

----------

----------

----------

----------

----------

Respiratory

1,923

7 

958

14 

454 

(4)

227

4 

152

13 

Avamys/Veramyst

54

(5)

6

(56)

16 

23 

18

9

38 

Flixotide/Flovent

209

4 

124

8 

30 

(9)

17

13 

12

- 

Relvar/Breo

8

- 

5

- 

- 

- 

- 

- 

3

- 

Seretide/Advair

1,398

9 

741

17 

368 

(4)

119

82

11 

Ventolin

175

1 

80

3 

33 

(6)

47

6 

3

- 

Other

79

(1)

2

(47)

7 

(25)

26

(10)

43

10 












Oncology

266

24 

102

21 

89 

26 

46

22 

16

31 

Arzerra

19

36

13

30 

5 

25 

-

- 

- 

- 

Mekinist

7

- 

7

- 

- 

- 

-

- 

- 

- 

Promacta

52

42

19

27 

16 

45

6

75 

8

43 

Tafinlar

11

- 

6

- 

4 

- 

-

- 

- 

- 

Tyverb/Tykerb

49

(18)

11

(35)

19 

(10)

14

- 

4

- 

Votrient

90

48

39

34 

35 

55 

11

33 

2

>100 

Other

38

(12)

7

(37)

10 

(19)

15

23 

2

(33)












Cardiovascular, metabolic and urology (CVMU)

283

14 

116

4 

81 

13 

36

39 

33

25 

Avodart

226

13 

80

1 

72 

13 

27

43 

33

25 

Other

57

19 

36

10 

9 

13 

9

29 

- 

- 












Immuno-inflammation

46

59 

41

57 

2

50 

-

- 

-

- 

Benlysta

37

28 

33

26 

2

50 

-

- 

-

- 

Other

9

- 

8

- 

- 

- 

-

- 

-

- 












Other

756

7 

54

(49)

199 

(3)

285

(3)

107

72 

Dermatology

135

(17)

13

(71)

42 

(2)

67

3 

7

13 

Augmentin

165

3 

1

- 

53 

(4)

101

6 

4

- 

Other anti-bacterials

57

(11)

2

- 

18 

6 

36

(11)

1

- 

Rare diseases

130

(1)

27

(24)

34 

3 

14

(7)

49

11 

Other

269

43 

11

(53)

52 

(10)

67

(15)

46

>100 























Vaccines

967

12 

243

23 

275 

- 

389

22 

8

(44)

Boostrix

91

65 

65

97

15 

7 

7

40 

- 

- 

Cervarix

45

2 

1

- 

19 

38 

25

18 

(1)

- 

Fluarix, FluLaval

87

76 

36

>100 

21 

(23)

22

>100 

- 

- 

Hepatitis

152

(4)

55

(7)

52 

2 

34

12 

- 

- 

Infanrix, Pediarix

208

(11)

61

(10)

101 

(4)

32

(33)

- 

- 

Rotarix

100

17 

24

(4)

15 

50 

46

31 

8

- 

Synflorix

161

49 

-

- 

12 

(8)

147

58 

- 

- 

Other

123

(3)

1

<(100) 

40 

- 

76

1 

1

- 













----------

----------

----------

----------

----------

----------

----------

----------

----------

----------

Innovative products

4,241

10 

1,514

11 

1,100 

- 

983

9 

316

26 




----------

----------

----------

----------

----------

----------

----------

----------

ViiV Healthcare (HIV)

385

15 

171

30 

135 

1 

41

7 

15

13 

Combivir

31

(26)

11

27 

7 

(52)

11

(32)

- 

(11)

Epzicom/Kivexa

211

28 

80

35 

88 

15 

18

70 

10

18 

Lexiva/Agenerase

28

(9)

18

2 

6 

(23)

3

(38)

- 

(5)

Selzentry

37

(3)

14

(16)

17 

11

1

(4)

- 

28 

Tivicay

15

- 

15

- 

- 

- 

-

- 

- 

- 

Trizivir

26

- 

16

2 

7 

(11)

1

>100 

- 

- 

Other

37

12 

17

32 

10

(11)

7

33 

5

2 























Established products

947

(9)

321

(10)

176 

(11)

275

(7)

150

1 

Coreg

29

(3)

29

- 

- 

- 

- 

- 

- 

- 

Hepsera

23

(27)

- 

- 

- 

- 

15

(36)

6

- 

Imigran/Imitrex

46

- 

18

6 

15 

(6)

2

- 

6

(13)

Lamictal

152

(3)

77

(15)

28 

- 

20

16 

23

26 

Lovaza

140

(5)

139

(5)

- 

- 

- 

- 

- 

- 

Requip

29

(3)

1

- 

11 

(29)

3

- 

14

13 

Serevent

31

(9)

13

(8)

14 

(13)

1

- 

3

(20)

Seroxat/Paxil

69

(14)

- 

- 

12 

(27)

19

(9)

35

(9)

Valtrex

59

(7)

15 

(30)

7 

17

10

22

26

- 

Zeffix

43

(30)

3 

(40)

3 

- 

33

(31)

4

- 

Other

326

(10)

26

(18)

86 

(11)

172

(1)

33

2 


----------

----------










5,573

6 










----------

----------









 

The table above includes the sales by product reported in the Other trading and unallocated pharmaceuticals segment (which includes Canada, Puerto Rico, Australasia, central vaccine tender sales and contract manufacturing sales) in the total column only.

 

 

Pharmaceuticals and Vaccines turnover

Three months ended 30 September 2013


Total 

USA 

Europe 

Emerging Markets 

Japan 


---------------------------- 

---------------------------- 

---------------------------- 

---------------------------- 

---------------------------- 


£m 

CER%

£m 

CER%

£m 

CER%

£m 

CER%

£m 

CER%


----------

----------

----------

----------

----------

----------

----------

----------

----------

----------

Respiratory

1,640

(2)

816

(3)

418 

(1)

182

(6)

105

6 

Avamys/Veramyst

55

8 

13

(14)

13 

8 

20

31 

5

(13)

Flixotide/Flovent

172

(7)

105

(8)

25 

(4)

12

- 

9

(8)

Relvar/Breo

- 

- 

- 

- 

- 

- 

- 

- 

- 

- 

Seretide/Advair

1,209

(1)

632

(1)

344 

(1)

87

(12)

62

8 

Ventolin

145

(5)

66

(10)

29 

- 

39

3 

2

50 

Other

59

(2)

-

- 

7 

- 

24

(18)

27

9 












Oncology

249

23 

99

14 

91 

32 

36

19 

16

36 

Arzerra

18

(11)

13

20 

4 

(50)

        -

- 

1

- 

Mekinist

3

- 

3

- 

- 

- 

- 

- 

- 

- 

Promacta

49

43

19

27 

15 

56 

6

100 

8

43 

Tafinlar

4

- 

4

- 

- 

- 

- 

- 

- 

- 

Tyverb/Tykerb

53

(7)

14

(18)

21 

(10)

12

8 

4

(17)

Votrient

91

84

36

38 

39 

>100 

10

100 

3

- 

Other

31

(26)

10

(51)

12 

10 

8

(27)

- 

- 












Cardiovascular, metabolic and urology (CVMU)

262

7 

110

(6)

76 

20 

33

14 

28

30 

Avodart

207

6 

73

(11)

67 

17 

26

13 

28

30 

Other

55

11 

37

6 

9 

60 

7

17 

- 

- 












Immuno-inflammation

48

>100 

45

>100 

2 

100 

1

- 

- 

- 

Benlysta

42

>100 

39

100 

2 

100 

1

- 

- 

- 

Other

6

- 

6

- 

- 

- 

-

- 

- 

- 












Other

648

4 

77

(20)

189 

31 

266

(7)

55

11 

Dermatology

165

2 

39

(1)

42 

5 

70

6

- 

Augmentin

140

1 

- 

- 

43 

5 

90

1 

3

- 

Other anti-bacterials

46

(12)

2

70 

13 

6 

32

(19)

1

- 

Rare diseases

125

(1)

30

(26)

32 

7 

13

- 

45

14 

Other

172

21 

6

(56)

59 

>100 

61

(17)

-

- 























Vaccines

987

3 

375

24 

273 

4 

263

(14)

6

(75)

Boostrix

83

4 

56

(2)

18 

21 

4

33 

- 

- 

Cervarix

41

(11)

2

(33)

14 

27 

25

32 

- 

- 

Fluarix, FluLaval

142

1 

104

29 

16 

(16)

7

(69)

- 

- 

Hepatitis

168

(1)

81

5 

48 

(4)

29

(15)

- 

- 

Infanrix, Pediarix

258

26 

100

69 

98 

1 

44

26 

- 

- 

Rotarix

108

5 

32

19 

17 

78 

50

2 

6

(56)

Synflorix

80

(28)

-

- 

12 

(8)

66

(32)

- 

- 

Other

107

4 

-

- 

50 

2 

38

(12)

- 

- 













----------

----------

----------

----------

----------

----------

----------

----------

----------

----------

Innovative products

3,834

3 

1,522

4 

1,049 

9 

781

(7)

210

3 




----------

----------

----------

----------

----------

----------

----------

----------

ViiV Healthcare (HIV)

344

(5)

136

3 

124 

(7)

51

(26)

13

13 

Combivir

25

(55)

7

11 

8 

(50)

8

(73)

1

(10)

Epzicom/Kivexa

190

8 

65

(3)

79 

8 

24

20 

9

22 

Lexiva/Agenerase

29

(6)

15

(4)

6 

(22)

7

8 

1

(7)

Selzentry

34

10

16

16 

14 

2

1

89 

1

36 

Tivicay

4

- 

4

- 

- 

- 

-

- 

- 

- 

Trizivir

24

(4)

15

(1)

8 

(19)

2

(4)

- 

- 

Other

38

(13)

14

- 

9 

(37)

9

(7)

1

(8)























Established products

906

(9)

320

(3)

172 

(14)

245

(18)

149

1 

Coreg

36

9 

36

9

- 

-

- 

-

- 

-

Hepsera

15

(47)

- 

-

- 

-

10

(63)

6

(13)

Imigran/Imitrex

47

2 

21

18 

15 

(6)

1

-

6

(22)

Lamictal

139

(6)

70

(16)

27 

(4)

19

-

21

30 

Lovaza

135

(12)

134

(12)

- 

-

- 

-

- 

-

Requip

36

(5)

3

- 

13 

(37)

4

-

15

29 

Serevent

32

(6)

13

8 

13 

(25)

1

-

3

(20)

Seroxat/Paxil

64

(9)

- 

-

12 

(8)

16

(16)

34

(5)

Valtrex

55

17 

10

-

8 

-

11

-

26

-

Zeffix

27

(57)

3

(25)

3

(25)

16

(69)

4

-

Other

320

(5)

30

22 

81 

(13)

167

(3)

34

(7)


----------

----------










5,084

- 










----------

----------









The table above includes the sales by product reported in the Other trading and unallocated pharmaceuticals segment (which includes Canada, Puerto Rico, Australasia, central vaccine tender sales and contract manufacturing sales) in the total column only.

 

Pharmaceuticals and Vaccines turnover

Three months ended 30 June 2013


Total 

USA 

Europe 

Emerging Markets 

Japan 


---------------------------- 

---------------------------- 

---------------------------- 

---------------------------- 

---------------------------- 


£m 

CER%

£m 

CER%

£m 

CER%

£m 

CER%

£m 

CER%


----------

----------

----------

----------

----------

----------

----------

----------

----------

----------

Respiratory

1,847

4 

914

8 

469 

(1)

224

10 

113

(4)

Avamys/Veramyst

60

(6)

12

(20)

23 

5 

17

3

(38)

Flixotide/Flovent

202

5 

124

12 

29 

(13)

14

- 

11

(13)

Relvar/Breo

- 

- 

- 

- 

- 

- 

- 

- 

- 

- 

Seretide/Advair

1,358

5 

708

8 

376 

(1)

117

14 

70

8 

Ventolin

160

7 

69

18 

32 

- 

44

- 

2

- 

Other

67

(9)

1

(54)

9 

- 

32

19 

27

(17)












Oncology

233

17 

91

10 

80 

26 

36

23 

17

43 

Arzerra

17

20 

10

22 

7 

17 

- 

- 

- 

- 

Mekinist

- 

- 

- 

- 

- 

- 

- 

- 

- 

- 

Promacta

45

53

19

38 

13 

50 

5

67 

8

50 

Tafinlar

1

- 

1

- 

- 

- 

- 

- 

- 

- 

Tyverb/Tykerb

53

(12)

15

(18)

21 

(5)

11

(21)

5

- 

Votrient

79

97

36

70 

30 

100 

9

>100 

2

- 

Other

38

(33)

10

(50)

9 

(18)

11

22 

2

- 












Cardiovascular, metabolic and urology (CVMU)

275

15 

122

6 

78 

16 

35

30 

28

21 

Avodart

221

12 

84

1 

68 

10 

27

35 

28

21 

Other

54

30 

38

19 

10 

67 

8

14 

- 

- 












Immuno-inflammation

38

>100 

35

>100 

2 

- 

- 

- 

- 

- 

Benlysta

38

>100 

35

>100 

2 

- 

- 

- 

- 

- 

Other

- 

- 

- 

- 

- 

- 

- 

- 

- 

- 












Other

649

8 

63

- 

167 

4 

298

11 

60

23 

Dermatology

169

1 

31

(35)

44 

14 

79

18 

8

- 

Augmentin

150

- 

- 

- 

45 

(13)

99

11 

3

(25)

Other anti-bacterials

60

6 

2

41 

14 

6 

42

9 

-

- 

Rare diseases

127

21 

29

53 

32 

(3)

12

20 

48

27 

Other

143

15 

1

(74)

32 

29 

66

2 

1

- 























Vaccines

786

- 

214

14 

264 

5 

247

(13)

11

(43)

Boostrix

68

16 

41

8 

19 

38 

5

67 

- 

- 

Cervarix

46

(8)

2

100 

13 

(20)

25

19 

4 

(54)

Fluarix, FluLaval

7

40 

2

100 

(1)

50 

5

- 

- 

- 

Hepatitis

170

1 

73

3 

52 

(4)

36

(3)

- 

- 

Infanrix, Pediarix

218

18 

72

31 

103 

8 

28

27 

- 

- 

Rotarix

87

(8)

25

9 

16 

60 

37

(23)

6

(20)

Synflorix

74

(31)

-

- 

12 

- 

60

(37)

- 

- 

Other

116

(2)

(1)

- 

50 

(2)

51

(7)

1

- 













----------

----------

----------

----------

----------

----------

----------

----------

----------

----------

Innovative products

3,828

6 

1,439

11 

1,060 

4 

840

3 

229

3 




----------

----------

----------

----------

----------

----------

----------

----------

ViiV Healthcare (HIV)

339

(4)

119

(4)

136 

(1)

50

(17)

14

11 

Combivir

27

(45)

6

19 

10 

(43)

9

(60)

1

(14)

Epzicom/Kivexa

193

13 

63

6 

84 

14 

23

35 

9

21 

Lexiva/Agenerase

29

(12)

14

(25)

7 

(19)

6

63 

1

(17)

Selzentry

35

10

15

5 

17 

10

2

1 

1

51 

Tivicay

- 

- 

- 

- 

- 

- 

- 

- 

- 

- 

Trizivir

23

(24)

13

(16)

8 

(22)

1

- 

- 

- 

Other

32

(18)

8

(26)

10

(6)

9

(22)

2

(11)























Established products

1,018

(10)

331

(11)

175 

(16)

321

1 

153

(14)

Coreg

33

(6)

33

(9)

- 

- 

- 

- 

- 

- 

Hepsera

31

(3)

- 

- 

- 

- 

24

(8)

7

- 

Imigran/Imitrex

47

(8)

19

(14)

16 

(11)

2

(50)

6

- 

Lamictal

133

(8)

63

(18)

27 

(10)

20

5 

21

25 

Lovaza

161

- 

161

- 

- 

- 

- 

- 

- 

- 

Requip

29

(30)

1

(83)

13 

(37)

3

(25)

12

7 

Serevent

33

(13)

12

- 

14 

(13)

1

- 

4

(20)

Seroxat/Paxil

79

(24)

- 

- 

15 

(7)

21

- 

37

(37)

Valtrex

55

(9)

9 

- 

7 

(30)

10

11 

28

- 

Zeffix

55

(12)

4 

- 

3 

(25)

44

(11)

4

(17)

Other

362

(9)

29

(37)

80 

(15)

196

5 

34

(17)


----------

----------










5,185

2 










----------

----------









The table above includes the sales by product reported in the Other trading and unallocated pharmaceuticals segment (which includes Canada, Puerto Rico, Australasia, central vaccine tender sales and contract manufacturing sales) in the total column only.

 

 

Pharmaceuticals and Vaccines turnover

Three months ended 31 March 2013


Total 

USA 

Europe 

Emerging Markets 

Japan 


---------------------------- 

---------------------------- 

---------------------------- 

---------------------------- 

---------------------------- 


£m 

CER%

£m 

CER%

£m 

CER%

£m 

CER%

£m 

CER%


----------

----------

----------

----------

----------

----------

----------

----------

----------

----------

Respiratory

1,879

6 

906

7 

461 

(2)

204

8 

184

24 

Avamys/Veramyst

80

22 

11

(21)

17 

- 

16

23 

32

64 

Flixotide/Flovent

213

7 

129

13 

33 

(3)

15

15 

10

(8)

Relvar/Breo

- 

- 

- 

- 

- 

- 

- 

- 

- 

- 

Seretide/Advair

1,309

4 

688

8 

370 

(2)

106

63

4 

Ventolin

162

4 

76

9 

33 

- 

41

- 

2

(33)

Other

115

24 

2

(71)

8 

- 

26

8 

77

40 












Oncology

221

23 

88

24 

79 

26 

31

7 

14

33 

Arzerra

21

67

10

- 

11 

>100 

- 

- 

- 

- 

Mekinist

- 

- 

- 

- 

- 

- 

- 

- 

- 

- 

Promacta

40

48

16

45 

11 

38 

5

>100 

6

40 

Tafinlar

- 

- 

- 

- 

- 

- 

- 

- 

- 

- 

Tyverb/Tykerb

52

(13)

15

(12)

21 

(13)

10

(23)

4

- 

Votrient

71

>100

33

>100 

26 

100 

7

75 

2

- 

Other

37

(19)

14

(18)

10 

(33)

9

(10)

2

- 












Cardiovascular, metabolic and urology (CVMU)

253

(37)

108

(62)

73 

24 

31

24 

25

22 

Avodart

203

10 

75

(3)

66 

20 

24

20 

25

22 

Other

50

(78)

33

(84)

7 

75 

7

40 

- 

- 












Immuno-inflammation

29

>100

27

>100

2

100

- 

- 

- 

- 

Benlysta

29

>100

27

>100

2

100

- 

- 

- 

- 

Other

- 

- 

- 

- 

- 

- 

- 

- 

- 

- 












Other

621

- 

67

(20)

165 

(14)

275

9 

69

29 

Dermatology

162

(6)

32

(37)

42 

11 

73

7 

7

- 

Augmentin

175

16 

- 

- 

62 

- 

103

27 

3

- 

Other anti-bacterials

61

3 

1

(58)

21 

3 

38

5 

1

23 

Rare diseases

113

12 

27

18 

31 

(3)

9

- 

42

23 

Other

110

(18)

7

(13)

9 

(77)

52

(9)

16

86 























Vaccines

680

(11)

146

(3)

237 

4 

225

7 

11

(88)

Boostrix

46

(4)

21

-

13 

8 

4

(20)

- 

- 

Cervarix

40

(69)

1

-

15 

7 

17

23 

7 

(93)

Fluarix, FluLaval

15

>100

4

-

(1)

-

9

>100

- 

- 

Hepatitis

139

(10)

54

(14)

46 

(4)

24

(4)

- 

- 

Infanrix, Pediarix

178

10 

38

-

96 

3 

28

100

- 

- 

Rotarix

80

7 

27

4 

11 

10 

31

14 

5

(29)

Synflorix

90

23 

-

- 

12 

33 

77

26 

- 

- 

Other

92

(15)

1

- 

45 

8 

35

(42)

(1)

- 













----------

----------

----------

----------

----------

----------

----------

----------

----------

----------

Innovative products

3,683

(1)

1,342

(7)

1,017 

1 

766

9 

303

(7)




----------

----------

----------

----------

----------

----------

----------

----------

ViiV Healthcare (HIV)

318

(5)

126

(10)

131 

(6)

29

2 

12

19 

Combivir

33

(6)

11

>100

14 

(23)

7

(32)

1

(7)

Epzicom/Kivexa

169

6 

61

- 

77 

6 

13

46 

8

25 

Lexiva/Agenerase

27

(16)

15

(10)

8 

(23)

2

(31)

1

5 

Selzentry

37

28

13

4 

15 

11

2

>100

1

>100 

Tivicay

- 

- 

- 

- 

- 

- 

- 

- 

- 

- 

Trizivir

24

(11)

14

(7)

9 

(15)

- 

- 

- 

- 

Other

28

(46)

12

(61)

8 

(44)

5

(17)

1

(1)























Established products

1,003

(5)

328

(3)

195 

(15)

316

6 

143

(9)

Coreg

33

(9)

32

(9)

- 

- 

- 

- 

- 

- 

Hepsera

27

(7)

- 

- 

- 

- 

21

(5)

6

- 

Imigran/Imitrex

48

9 

22

47 

17 

(6)

2

100 

6

(14)

Lamictal

133

(9)

66

(23)

28 

(3)

19

12 

18

33 

Lovaza

148

(3)

147

(3)

- 

- 

- 

- 

- 

- 

Requip

31

(29)

2

(78)

15 

(29)

4

33 

10

(8)

Serevent

33

(13)

13

(8)

14 

(18)

1

- 

3

(20)

Seroxat/Paxil

73

(15)

- 

- 

14 

- 

23

10 

32

(30)

Valtrex

55

(6)

11 

57 

7 

(30)

9

13 

26

(6)

Zeffix

57

(2)

3 

50 

3 

(40)

47

2 

4

- 

Other

365

1 

32

72 

97 

(15)

190

6 

38

2 


--------

----------










5,004

(2)










--------

----------









        The table above includes the sales by product reported in the Other trading and unallocated pharmaceuticals segment (which         includes Canada, Puerto Rico, Australasia, central vaccine tender sales and contract manufacturing sales) in the total column only.

 

 

Pharmaceuticals and Vaccines turnover

Twelve months ended 31 December 2012

 


Total 

USA 

Europe 

Emerging Markets 

Japan 

 


------------

----------

----------

----------

----------

 


£m 

£m 

£m 

£m 

£m 

 


----------

----------

----------

----------

----------

 

Respiratory

7,044

3,331

1,789

815

604

 

Avamys/Veramyst

246

59

62

63

46

 

Flixotide/Flovent

779

448

122

55

55

 

Relvar/Breo

- 

- 

- 

- 

- 

 

Seretide/Advair

5,046

2,533

1,447

417

309

 

Ventolin

631

277

126

171

11

 

Other

342

14

32

109

183

 







 

Oncology

798

321

256

131

56

 

Arzerra

60

38

21

- 

- 

 

Mekinist

- 

- 

- 

- 

- 

 

Promacta

130

54

36

12

25

 

Tafinlar

- 

- 

- 

- 

- 

 

Tyverb/Tykerb

239

68

87

54

22

 

Votrient

183

91

66

22

1

 

Other

186

70

46

43

8

 







 

Cardiovascular, metabolic and urology (CVMU)

1,144

620

251

109

110

 

Avodart

790

317

228

84

110

 

Other

354

303

23

25

- 

 







 

Immuno-inflammation

70

65

4

- 

- 

 

Benlysta

70

65

4

- 

- 

 

Other

- 

- 

- 

- 

- 

 







 

Other

2,630

345

676

1,147

257

 

Dermatology

680

181

155

279

33

 

Augmentin

608

1

202

367

16

 

Other anti-bacterials

233

7

60

158

3

 

Rare diseases

495

117

123

48

188

 

Other

614

39

136

295

17

 







 

Vaccines

3,325

826

980

1,107

176

 

Boostrix

238

147

53

16

- 

 

Cervarix

270

6

53

75

132

 

Fluarix, FluLaval

200

88

43

44

- 

 

Hepatitis

646

266

197

128

- 

 

Infanrix, Pediarix

775

218

376

120

- 

 

Rotarix

360

100

39

159

44

 

Synflorix

385

-

45

334

- 

 

Other

451

1

174

231

- 

 







 


----------

----------

----------

----------

----------

 

Innovative products

15,011

5,508

3,956

3,309

1,203

 



----------

----------

----------

----------

 

ViiV Healthcare (HIV)

1,374

520

523

198

57

 

Combivir

179

24

64

79

4

 

Epzicom/Kivexa

665

243

285

57

36

 

Lexiva/Agenerase

127

68

33

19

3

 

Selzentry

128

57

56

4

3

 

Tivicay

- 

- 

- 

- 

- 

 

Trizivir

107

61

37

5

- 

 

Other

168

67

48

34

11

 







 







 

Established products

4,351

1,377

809

1,249

760

 

Coreg

133

132

- 

- 

- 

 

Hepsera

126

- 

- 

95

31

 

Imigran/Imitrex

190

72

67

7

32

 

Lamictal

610

332

112

75

78

 

Lovaza

607

604

- 

- 

- 

 

Requip

164

19

76

14

55

 

Serevent

145

51

64

3

20

 

Seroxat/Paxil

374

(1)

57

84

214

 

Valtrex

252

35

33

37

130

 

Zeffix

243

15

16

188

20

 

Other

1,507

118

384

746

180

 







 


----------





 


20,736





 


----------





 

                                      The table above includes the sales by product reported in the Other trading and unallocated pharmaceuticals segment (which includes                                       Canada,  Puerto  Rico,  Australasia, central vaccine tender sales and contract manufacturing sales) in the total column only.


Consumer Healthcare turnover

Twelve months ended 31 December 2013


£m

CER%


------

------

Wellness

1,865

(5)

Oral health

1,884

6 

Nutrition

627

12 

Skin health

380

6 


------

------

Total

4,756

2 


------

------

 

USA

951

1 

Europe

1,392

(2)

ROW

2,413

5 


------

------

Total

4,756

2 


------

------

 

Consumer Healthcare turnover

Three months ended 31 December 2013


£m

CER%


------

------

Wellness

454

(6)

Oral health

447

4 

Nutrition

130

11

Skin health

96

1 


------

------

Total

1,127

- 


------

------

 

USA

242

(2)

Europe

342

(4)

ROW

543

4 


------

------

Total

1,127

- 


------

------

 

Consumer Healthcare turnover

Three months ended 30 September 2013


£m

CER%


------

------

Wellness

464

(1)

Oral health

476

6 

Nutrition

160

12 

Skin health

90

11 


------

------

Total

1,190

4 


------

------

 

USA

233

- 

Europe

353

4 

ROW

604

6 


------

------

Total

1,190

4 


------

------



 

Consumer Healthcare turnover

Three months ended 30 June 2013

 


£m

CER%


------

------

Wellness

448

(8)

Oral health

481

8 

Nutrition

162

14 

Skin health

97

7 


------

------

Total

1,188

2 


------

------

 

USA

238

5 

Europe

343

(3)

ROW

607

4 


------

------

Total

1,188

2 


------

------

 

Consumer Healthcare turnover

Three months ended 31 March 2013

 


£m

CER%


------

------

Wellness

499

(5)

Oral health

480

5 

Nutrition

175

12 

Skin health

97

6 


------

------

Total

1,251

1 


------

------

 

USA

238

3 

Europe

354

(5)

ROW

659

5 


------

------

Total

1,251

1 


------

------

 

Consumer Healthcare turnover

Twelve months ended 31 December 2012

 


£m


------

Wellness

1,991

Oral health

1,806

Nutrition

590

Skin health

360


------

Total

4,747


------

 

USA

926

Europe

1,386

ROW

2,435


------

Total

4,747


------



 

Impact of Divestments on 2013 Core Results

 



FY 2013



Reported 
£m 

Revised 
£m 

Change 
£m 



------ 

------ 

------ 

Turnover


26,505 

25,602 

(903)

Cost of sales


(7,549)

(7,075)

474 



------ 

------ 

------ 

Gross profit


18,956 

18,527 

(429)






Selling, general and administration


(7,928)

(7,749)

179 

Research and development


(3,400)

(3,394)

Royalty income


387 

387 



------ 

------ 

------ 

Operating profit


8,015 

7,771 

(244)

Net finance costs


(692)

(692)

Share of after tax profits of associates and joint ventures


43 

43 



------ 

------ 

------ 

Profit before taxation


7,366 

7,122 

(244)






Taxation


(1,695)

(1,635)

60 

Tax rate%


23.0%

23.0%




------ 

------ 

------ 

Profit after taxation


5,671 

5,487 

(184)



------ 

------ 

------ 






Profit attributable to non-controlling interest


250 

250 

Profit attributable to shareholders


5,421 

5,237 

(184)



------ 

------ 

------ 






Earnings per share


112.2p

108.4p

(3.8)p






Weighted average number of shares


4,831 

4,831 


 

 

 

Reported 2013 Core Results

Q1 2013
£m

Q2 2013
£m

H1 2013
£m

Q3 2013
£m

9M 2013
£m

Q4 2013
£m

FY 2013
£m


------ 

------ 

------ 

------ 

------ 

------ 

------ 

Turnover

6,471 

6,618 

13,089 

6,510 

19,599 

6,906 

26,505 

Cost of sales

(1,847)

(1,818)

(3,665)

(1,878)

(5,543)

(2,006)

(7,549)


------ 

------ 

------ 

------ 

------ 

------ 

------ 

Gross profit

4,624 

4,800 

9,424 

4,632 

14,056 

4,900 

18,956 

Selling, general and administration

(1,955)

(2,092)

(4,047)

(1,876)

(5,923)

(2,005)

(7,928)

Research and development

(857)

(847)

(1,704)

(791)

(2,495)

(905)

(3,400)

Royalty income

113 

82 

195 

94 

289 

98 

387 


------ 

------ 

------ 

------ 

------ 

------ 

------ 

Operating profit

1,925 

1,943 

3,868 

2,059 

5,927 

2,088 

8,015 









Net finance costs

(176)

(183)

(359)

(178)

(537)

(155)

(692)

Share of after tax profits of
  associates and joint ventures

11 

7 

18 

14 

32 

11 

43 


------ 

------ 

------ 

------ 

------ 

------ 

------ 

Profit before taxation

1,760 

1,767 

3,527 

1,895 

5,422 

1,944 

7,366 









Taxation

(394)

(424)

(818)

(446)

(1,264)

(431)

(1,695)

Tax rate %

22.4%

24.0%

23.2%

23.5%

23.3%

22.2%

23.0%


------ 

------ 

------ 

------ 

------ 

------ 

------ 

Profit after taxation

1,366 

1,343 

2,709 

1,449 

4,158 

1,513 

5,671 


------ 

------ 

------ 

------ 

------ 

------ 

------ 

Profit attributable to
  non-controlling interests

68 

64 

132 

49 

181 

69 

250 









Profit attributable to shareholders

1,298 

1,279 

2,577 

1,400 

3,977 

1,444 

5,421 


------ 

------ 

------ 

------ 

------ 

------ 

------ 

















Earnings per share

26.9p

26.3p

53.2p

28.9p

82.1p

30.1p

112.2p









Weighted average number of shares

4,834 

4,855 

4,844 

4,837 

4,842 

4,798 

4,831 

 

 

 

 



 

 

Impact of Divestments on 2013 Core Results

 


Q1 2013
£m

Q2 2013
£m

H1 2013
£m

Q3 2013
£m

9M 2013
£m

Q4 2013
£m

FY 2013
£m

 


------ 

------ 

------ 

------ 

------ 

------ 

------ 

 

Turnover

(216)

(245)

(461)

(236)

(697)

(206)

(903)

 

Cost of sales

118 

126 

244 

127 

371 

103 

474 

 


------ 

------ 

------ 

------ 

------ 

------ 

------ 

 

Gross profit

(98)

(119)

(217)

(109)

(326)

(103)

(429)

 









 

Selling, general and administration

47 

53 

100 

45 

145 

34 

179 

 









 

Research and development

 


------ 

------ 

------ 

------ 

------ 

------ 

------ 

 

Operating profit

(49)

(65)

(114)

(62)

(176)

(68)

(244)

 


------ 

------ 

------ 

------ 

------ 

------ 

------ 

 

Profit before taxation

(49)

(65)

(114)

(62)

(176)

(68)

(244)

 









 

Taxation

12 

16 

28 

15 

43 

17 

60 

 


------ 

------ 

------ 

------ 

------ 

------ 

------ 

 

Profit after taxation

(37)

(49)

(86)

(47)

(133)

(51)

(184)

 


------ 

------ 

------ 

------ 

------ 

------ 

------ 

 

Profit attributable to
  non-controlling interests

 









 

Profit attributable to shareholders

(37)

(49)

(86)

(47)

(133)

(51)

(184)

 


------ 

------ 

------ 

------ 

------ 

------ 

------ 

 









 

Earnings per share







(3.8)p

 









 

Weighted average number of shares

 

 

 







4,831 

 

 

 

 

 

 


Revised 2013 Core Results

Q1 2013
£m

Q2 2013
£m

H1 2013
£m

Q3 2013
£m

9M 2013
£m

Q4 2013
£m

FY 2013
£m


------ 

------ 

------ 

------ 

------ 

------ 

------ 

Turnover

6,255 

6,373 

12,628 

6,274 

18,902 

6,700 

25,602 

Cost of sales

(1,729)

(1,692)

(3,421)

(1,751)

(5,172)

(1,903)

(7,075)


------ 

------ 

------ 

------ 

------ 

------ 

------ 

Gross profit

4,526 

4,681 

9,207 

4,523 

13,730 

4,797 

18,527 

Selling, general and administration

(1,908)

(2,039)

(3,947)

(1,831)

(5,778)

(1,971)

(7,749)

Research and development

(855)

(846)

(1,701)

(789)

(2,490)

(904)

(3,394)

Royalty income

113 

82 

195 

94 

289 

98 

387 


------ 

------ 

------ 

------ 

------ 

------ 

------ 

Operating profit

1,876 

1,878 

3,754 

1,997 

5,751 

2,020 

7,771 









Net finance costs

(176)

(183)

(359)

(178)

(537)

(155)

(692)

Share of after tax profits of
  associates and joint ventures

11 

7 

18 

14 

32 

11 

43 


------ 

------ 

------ 

------ 

------ 

------ 

------ 

Profit before taxation

1,711 

1,702 

3,413 

1,833 

5,246 

1,876 

7,122 









Taxation

(382)

(408)

(790)

(431)

(1,221)

(414)

(1,635)

Tax rate %

22.3%

24.0%

23.1%

23.5%

23.3%

22.1%

23.0%


------ 

------ 

------ 

------ 

------ 

------ 

------ 

Profit after taxation

1,329 

1,294 

2,623 

1,402 

4,025 

1,462 

5,487 


------ 

------ 

------ 

------ 

------ 

------ 

------ 

Profit attributable to
  non-controlling interests

68 

64 

132 

49 

181 

69 

250 









Profit attributable to shareholders

1,261 

1,230 

2,491 

 

1,353

 

3,844

 

1,393 

 

5,237 

 


------ 

------ 

------ 

------ 

------ 

------ 

------ 

















Earnings per share

26.1p

25.3p

51.4p

28.0p

79.4p

29.0p

108.4p









Weighted average number of shares

4,834 

4,855 

4,844 

4,837 

4,842 

4,798 

4,831 

 

 

 

 

 

 

 

 

 



 

 

Appendix

 

Core Results Reconciliations - as previously reported

 

 


Three months ended 31 March 2013

 


Core
results
£m

Intangible
amortisation
£m

Intangible
impairment
£m

Major
restructuring
£m

Legal
costs
£m

Acquisition
accounting and other
£m

Total
results
£m


------------

------------

------------

------------

------------

------------

------------

Turnover

6,471 






6,471 

Cost of sales

(1,847)

(109)


(20)



(1,976)


------------

------------

------------

------------

------------

------------

------------

Gross profit

4,624 

(109)


(20)



4,495 









Selling, general and administration

(1,955)



(60)

(66)

1 

(2,080)

Research and development

(857)

(25)

1

(6)


(17)

(904)

Royalty income

113 






113 

Other operating income/(expense)






(44)

(44)


------------

------------

------------

------------

------------

------------

------------

Operating profit

1,925 

(134)

1

(86)

(66)

(60)

1,580 









Net finance costs

(176)



(2)


(2)

(180)









Share of after tax profits
   of associates and joint ventures

11 






11 


------------

------------

------------

------------

------------

------------

------------

Profit before taxation

1,760 

(134)

1

(88)

(66)

(62)

1,411 









Taxation

(394)

37 


(57)

12 

20

(382)

Tax rate %

22.4%






27.1%


------------

------------

------------

------------

------------

------------

------------

Profit after taxation

1,366 

(97)

1

(145)

(54)

(42)

1,029 


------------

------------

------------

------------

------------

------------

------------

Profit attributable to
   non-controlling interests

68 






68 









Profit attributable to
   shareholders

1,298 

(97)

1

(145)

(54)

(42)

961 


------------

------------

------------

------------

------------

------------

------------









Earnings per share

26.9p

(2.0)p

-

(3.0)p

(1.1)p

(0.9)p

19.9p


------------

------------

------------

------------

------------

------------

------------

















Weighted average number
   of shares (millions)

4,834 






4,834 


------------






------------

 



 

 

Appendix


Three months ended 30 June 2013

 


Core
results
£m

Intangible
amortisation
£m

Intangible
impairment
£m

Major
restructuring
£m

Legal
costs
£m

Acquisition
accounting and other
£m

Total
results
£m


------------

------------

------------

------------

------------

------------

------------

Turnover

6,618 






6,618 

Cost of sales

(1,818)

(109)


(45)



(1,972)


------------

------------

------------

------------

------------

------------

------------

Gross profit

4,800 

(109)


(45)



4,646 









Selling, general and administration

(2,092)



(99)

(24)

(1)

(2,216)

Research and development

(847)

(24)

(135)

(29)


(14)

(1,049)

Royalty income

82 






82 

Other operating income/(expense)






(25)

(25)


------------

------------

------------

------------

------------

------------

------------

Operating profit

1,943 

(133)

(135)

(173)

(24)

(40)

1,438 









Net finance costs

(183)



(1)


(2)

(186)









Profit on disposal of associates






29 

29 









Share of after tax profits
   of associates and joint ventures

7 






7 


------------

------------

------------

------------

------------

------------

------------

Profit before taxation

1,767 

(133)

(135)

(174)

(24)

(13)

1,288 









Taxation

(424)

36 

35 

135 


14 

(204)

Tax rate %

24.0%






15.8%


------------

------------

------------

------------

------------

------------

------------

Profit after taxation

1,343 

(97)

(100)

(39)

(24)

1 

1,084


------------

------------

------------

------------

------------

------------

------------

Profit attributable to
   non-controlling interests

64 





(25)

39 









Profit attributable to
   shareholders

1,279 

(97)

(100)

(39)

(24)

26 

1,045 


------------

------------

------------

------------

------------

------------

------------









Earnings per share

26.3p

(2.0)p

(2.1)p

(0.8)p

(0.5)p

0.6p

21.5p


------------

------------

------------

------------

------------

------------

------------

















Weighted average number
   of shares (millions)

4,855 






4,855 


------------






------------

 



 

 

Appendix


Six months ended 30 June 2013

 


Core
results
£m

Intangible
amortisation
£m

Intangible
impairment
£m

Major
restructuring
£m

Legal
costs
£m

Acquisition
accounting and other
£m

Total
results
£m


------------

------------

------------

------------

------------

------------

------------

Turnover

13,089 






13,089 

Cost of sales

(3,665)

(218)


(65)



(3,948)


------------

------------

------------

------------

------------

------------

------------

Gross profit

9,424 

(218)


(65)



9,141 









Selling, general and administration

(4,047)



(159)

(90)


(4,296)

Research and development

(1,704)

(49)

(134)

(35)


(31)

(1,953)

Royalty income

195 






195 

Other operating income/(expense)






(69)

(69)


------------

------------

------------

------------

------------

------------

------------

Operating profit

3,868 

(267)

(134)

(259)

(90)

(100)

3,018 









Net finance costs

(359)



(3)


(4)

(366)









Profit on disposal of associates






29 

29 









Share of after tax profits
   of associates and joint ventures

18 






18 


------------

------------

------------

------------

------------

------------

------------

Profit before taxation

3,527 

(267)

(134)

(262)

(90)

(75)

2,699 









Taxation

(818)

73 

35 

78 

12 

34 

(586)

Tax rate %

23.2%






21.7%


------------

------------

------------

------------

------------

------------

------------

Profit after taxation

2,709 

(194)

(99)

(184)

(78)

(41)

2,113 


------------

------------

------------

------------

------------

------------

------------

Profit attributable to
   non-controlling interests

132 





(25)

107 









Profit attributable to
   shareholders

2,577 

(194)

(99)

(184)

(78)

(16)

2,006 


------------

------------

------------

------------

------------

------------

------------









Earnings per share

53.2p

(4.0)p

(2.0)p

(3.8)p

(1.6)p

(0.4)p

41.4p


------------

------------

------------

------------

------------

------------

------------

















Weighted average number
   of shares (millions)

4,844 






4,844 


------------






------------

 



 

 

Appendix


Three months ended 30 September 2013

 


Core
results
£m

Intangible
amortisation
£m

Intangible
impairment
£m

Major
restructuring
£m

Legal
costs
£m

Acquisition
accounting
and other
£m

Total
results
£m


------------

------------

------------

------------

------------

------------

------------

Turnover

6,510 






6,510 

Cost of sales

(1,878)

(105)

(81)

(47)



(2,111)


------------

------------

------------

------------

------------

------------

------------

Gross profit

4,632 

(105)

(81)

(47)



4,399 









Selling, general and administration

(1,876)



(34)

(73)

(1)

(1,984)

Research and development

(791)

(25)

(71)

(2)


(11)

(900)

Royalty income

94 






94 

Other operating income/(expense)

- 





(40)

(40)


------------

------------

------------

------------

------------

------------

------------

Operating profit

2,059 

(130)

(152)

(83)

(73)

(52)

1,569 









Net finance costs

(178)



(1)


(2)

(181)









Share of after tax profits
   of associates and joint ventures

14 






14 


------------

------------

------------

------------

------------

------------

------------

Profit before taxation

1,895 

(130)

(152)

(84)

(73)

(54)

1,402 









Taxation

(446)

35 

37 

(43)

14 

11 

(392)

Tax rate %

23.5%






28.0%


------------

------------

------------

------------

------------

------------

------------

Profit after taxation

1,449 

(95)

(115)

(127)

(59)

(43)

1,010 


------------

------------

------------

------------

------------

------------

------------

Profit attributable to
   non-controlling interests

49 





(8)

41 









Profit attributable to
   shareholders

1,400 

(95)

(115)

(127)

(59)

(35)

969 


------------

------------

------------

------------

------------

------------

------------









Earnings per share

28.9p

(2.0)p

(2.4)p

(2.6)p

(1.2)p

(0.7)p

20.0p


------------

------------

------------

------------

------------

------------

------------

















Weighted average number
   of shares (millions)

4,837 






4,837 


------------






------------

 



 

Appendix

 


Nine months ended 30 September 2013

 


Core
results
£m

Intangible
amortisation
£m

Intangible
impairment
£m

Major
restructuring
£m

Legal
costs
£m

Acquisition
accounting
and other
£m

Total
results
£m


------------

------------

------------

------------

------------

------------

------------

Turnover

19,599 






19,599 

Cost of sales

(5,543)

(323)

(81)

(112)



(6,059)


------------

------------

------------

------------

------------

------------

------------

Gross profit

14,056 

(323)

(81)

(112)



13,540 









Selling, general and administration

(5,923)



(193)

(163)

(1)

(6,280)

Research and development

(2,495)

(74)

(205)

(37)


(42)

(2,853)

Royalty income

289 






289 

Other operating income/(expense)

- 





(109)

(109)


------------

------------

------------

------------

------------

------------

------------

Operating profit

5,927 

(397)

(286)

(342)

(163)

(152)

4,587 









Net finance costs

(537)



(4)


(6)

(547)









Profit on disposal of associates
   and joint ventures

- 





29 

29 









Share of after tax profits
   of associates and joint ventures

32 






32 


------------

------------

------------

------------

------------

------------

------------

Profit before taxation

5,422 

(397)

(286)

(346)

(163)

(129)

4,101 









Taxation

(1,264)

108 

72 

35 

26 

45 

(978)

Tax rate %

23.3%






23.8%


------------

------------

------------

------------

------------

------------

------------

Profit after taxation

4,158 

(289)

(214)

(311)

(137)

(84)

3,123 


------------

------------

------------

------------

------------

------------

------------

Profit attributable to
   non-controlling interests

181 





(33)

148 









Profit attributable to
   shareholders

3,977 

(289)

(214)

(311)

(137)

(51)

2,975 


------------

------------

------------

------------

------------

------------

------------









Earnings per share

82.1p

(6.1)p

(4.4)p

(6.4)p

(2.8)p

(1.0)p

61.4p


------------

------------

------------

------------

------------

------------

------------

















Weighted average number
   of shares (millions)

4,842 






4,842 


------------






------------

 



 

 

Appendix


Three months ended 31 December 2013

 


Core
results
£m

Intangible
amortisation
£m

Intangible
impairment
£m

Major
restructuring
£m

Legal
costs
£m

Acquisition
accounting
and other
£m

Total
results
£m


------------

------------

------------

------------

------------

------------

------------

Turnover

6,906 






6,906 

Cost of sales

(2,006)

(127)

(327)

(66)



(2,526)


------------

------------

------------

------------

------------

------------

------------

Gross profit

4,900 

(127)

(327)

(66)



4,380 









Selling, general and administration

(2,005)



(107)

(89)

1 

(2,200)

Research and development

(905)

(23)

(126)

(2)


(14)

(1,070)

Royalty income

98 






98 

Other operating income/(expense)






1,233 

1,233 


------------

------------

------------

------------

------------

------------

------------

Operating profit

2,088 

(150)

(453)

(175)

(89)

1,220 

2,441 









Net finance costs

(155)



(2)


(2)

(159)









Profit on disposal of associates
   and joint ventures

- 





253 

253 









Share of after tax profits