CINCINNATI–(BUSINESS WIRE)–Procter & Gamble’s focus on superiority, productivity and improving P&G’s organization and culture created value for shareholders and made a positive difference in results in fiscal 2019, P&G said in its 2019 Annual Report, published today at www.pg.com/annualreport2019.
The Annual Report details how, as previously announced, during fiscal 2019:
- P&G built sales, market share and profit margin momentum throughout fiscal 2019, finishing the year with the strongest organic sales growth in over a decade.
- We continued our best-in-class track record of cash return to shareowners, returning $12.5 billion of cash through a combination of share repurchases and dividends, increasing the dividend for the 63rd consecutive year, and paying a dividend for 129 consecutive years.
- We drove focus on our strategic choices to win with consumers, supported by a strong commitment to social and environmental Citizenship efforts built into the business.
In his letter to Company shareowners, Chairman, President and Chief Executive Officer David Taylor said, “We are focused on winning with consumers. That’s job #1—winning with consumers and shoppers through superiority, fueled by productivity, and delivered by an empowered, agile and accountable organization that is driving constructive disruption across the entire value chain in our industry.”
These are the strategies and focus areas guiding P&G’s choices and investments, brought to life every day by about 97,000 P&G employees around the world:
- We have a focused portfolio in 10 categories – daily-use products where performance drives brand choice.
- We’re extending our margin of competitive superiority in product, package, brand communication, retail execution, and value.
- We’re driving productivity improvements in cost and cash to fund these investments and improve profitability.
- We’re leading the constructive disruption of our industry across all areas of the value chain, to win in today’s dynamic world.
- We’re operating through a more focused, agile, accountable organization operating at the speed of the market.
Taylor added in his letter to shareowners, “Importantly, these choices are not independent strategies. They reinforce and build on each other and include a strong commitment to social and environmental Citizenship efforts built into the business. They position us well to deal with near-term challenges from macroeconomic headwinds, trade transformation and anticipated competitive response. Together, they are the foundation for stronger, balanced top- and bottom-line growth and value creation over the short, mid- and long term.”
Visit www.pg.com/annualreport2019 to explore or download P&G’s 2019 Annual Report.
Certain statements in this release or presentation, other than purely historical information, including estimates, projections, statements relating to our business plans, objectives, and expected operating results, and the assumptions upon which those statements are based, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are based on current expectations and assumptions, which are subject to risks and uncertainties that may cause results to differ materially from those expressed or implied in the forward-looking statements. We undertake no obligation to update or revise publicly any forward-looking statements, whether because of new information, future events or otherwise.
Risks and uncertainties to which our forward-looking statements are subject include, without limitation: (1) the ability to successfully manage global financial risks, including foreign currency fluctuations, currency exchange or pricing controls and localized volatility; (2) the ability to successfully manage local, regional or global economic volatility, including reduced market growth rates, and to generate sufficient income and cash flow to allow the Company to affect the expected share repurchases and dividend payments; (3) the ability to manage disruptions in credit markets or changes to our credit rating; (4) the ability to maintain key manufacturing and supply arrangements (including execution of supply chain optimizations and sole supplier and sole manufacturing plant arrangements) and to manage disruption of business due to factors outside of our control, such as natural disasters and acts of war or terrorism; (5) the ability to successfully manage cost fluctuations and pressures, including prices of commodities and raw materials, and costs of labor, transportation, energy, pension and healthcare; (6) the ability to stay on the leading edge of innovation, obtain necessary intellectual property protections and successfully respond to changing consumer habits and technological advances attained by, and patents granted to, competitors; (7) the ability to compete with our local and global competitors in new and existing sales channels, including by successfully responding to competitive factors such as prices, promotional incentives and trade terms for products; (8) the ability to manage and maintain key customer relationships; (9) the ability to protect our reputation and brand equity by successfully managing real or perceived issues, including concerns about safety, quality, ingredients, efficacy or similar matters that may arise; (10) the ability to successfully manage the financial, legal, reputational and operational risk associated with third-party relationships, such as our suppliers, contract manufacturers, distributors, contractors and external business partners; (11) the ability to rely on and maintain key company and third party information technology systems, networks and services, and maintain the security and functionality of such systems, networks and services and the data contained therein; (12) the ability to successfully manage uncertainties related to changing political conditions (including the United Kingdom’s decision to leave the European Union) and potential implications such as exchange rate fluctuations and market contraction; (13) the ability to successfully manage regulatory and legal requirements and matters (including, without limitation, those laws and regulations involving product liability, product and packaging composition, intellectual property, antitrust, data protection, tax, environmental, and accounting and financial reporting) and to resolve pending matters within current estimates; (14) the ability to manage changes in applicable tax laws and regulations including maintaining our intended tax treatment of divestiture transactions; (15) the ability to successfully manage our ongoing acquisition, divestiture and joint venture activities, in each case to achieve the Company’s overall business strategy and financial objectives, without impacting the delivery of base business objectives; and (16) the ability to successfully achieve productivity improvements and cost savings and manage ongoing organizational changes, while successfully identifying, developing and retaining key employees, including in key growth markets where the availability of skilled or experienced employees may be limited. For additional information concerning factors that could cause actual results and events to differ materially from those projected herein, please refer to our most recent 10-K, 10-Q and 8-K reports.
About Procter & Gamble
P&G serves consumers around the world with one of the strongest portfolios of trusted, quality, leadership brands, including Always®, Ambi Pur®, Ariel®, Bounty®, Charmin®, Crest®, Dawn®, Downy®, Fairy®, Febreze®, Gain®, Gillette®, Head & Shoulders®, Lenor®, Olay®, Oral-B®, Pampers®, Pantene®, SK-II®, Tide®, Vicks®, and Whisper®. The P&G community includes operations in approximately 70 countries worldwide. Please visit http://www.pg.com for the latest news and information about P&G and its brands.
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