Reckitt Benckiser Group plc

Ladies and gentlemen, welcome to the Rekits Q1 Trading Update. My name is Neil, and I will be coordinating your call today. If you would like to ask a question during the presentation, you may do so by pressing star 1 on your telephone keypad. I will now hand you over to your host, Richard Joyce, Head of Investor Relations. Richard, please go ahead.

Thanks, Neil, and good morning, and welcome to everyone joining Rekits Q1 Trading Update. Our CEO, Chris Licht, and our CEO, Shannon Eisenhardt, will take you through some prepared remarks, followed by our usual Q&As. Before we start, I'd like to draw your attention to the usual disclaimer in respect to forward-looking statements contained on page six of our RNF published this morning. So now I'm pleased to hand over to Chris.

Thank you, Richard. Good morning to everyone and welcome to our 2024 Q1 trading update. We had a good first quarter with our net revenue performance in line with our expectations and as communicated in February. After a period of significant price-led growth, we are pleased to see volume growth across many of our power brands, including Dettol. Large innovation platforms continue to drive growth. Our premium thermal forming products have been instrumental in delivering high single-digit growth in finish for the quarter. Lysol laundry sanitizer and the recently launched Lysol air sanitizer help deliver double-digit like-for-like growth in Lysol. In Intimate Wellness, our recently launched Durex Invisible and other thin-field condoms are driving growth in the business. From a geographic perspective, Europe delivered mid-single-digit net revenue growth with broad-based volume growth across health and hygiene, offset by declines in seasonal OTC brands. I'm pleased with how our developing markets businesses are performing today. We delivered strong mid-single-digit volume growth in the quarter, led by our two largest markets in that region, India and China. North America saw growth in our hygiene brands offset by the rebasing of our U.S. nutrition business and the expected tough comparatives in our season OTC brands. We are increasing cash returns to shareholders with the recently announced acceleration in our ongoing share buyback program. We expect to announce the next program in July. We continue to make progress on our strategic agenda, and I look forward to updating you further on this at our half-year results in July. With these Q1 results, we are on track to deliver our four-year guidance. Shannon will now provide you with further detail on our Q1 trading performance and our full year outlook.