Pyg Reporte
Páginas: 14 (3402 palabras)
Publicado: 1 de octubre de 2012
Robert A. McDonald Chairman of the Board, President and Chief Executive Officer
Dear Shareholders:
P&G is the world’s largest and most profitable consumer packaged goods company, with nearly $84 billion in sales and more than $10 billion in net earnings. We have built a portfolio of 25 billion-dollar brands — each of which generates from $1 billion to more than $10 billion of sales per year.They span a broad range of product categories — including household care, beauty, grooming, and personal health care — and are household names around the world, including Pampers, Gillette, Tide, Ariel, Downy, Pantene, Head & Shoulders, Olay, Oral-B, Crest, Dawn, Fairy and Always. We have three times more billion-dollar brands in our categories than our next-largest competitor and more than most ofour remaining competitors combined.
Focusing Our Growth Strategy
WE ARE FOCUSING P&G’S growth strategy on
our biggest opportunities:
40
We are focusing on our 40 largest and most profitable product categories in the most important geographic markets. These 40 businesses represent about 50% of sales and nearly 70% of operating profit.
We’re celebrating P&G’s 175th anniversary thisyear, a milestone that very few companies have achieved. Our long track record of success is based on a time-tested business model — we discover meaningful insights into what consumers need and want; we translate those insights into noticeably superior products focused on those needs; we communicate that superiority through advertising that includes compelling claims, performance demonstrations, andsuperior benefit visuals; and we price our products at a point where consumers experience superior overall value. All of this drives leadership market share, higher sales and lower costs, which enable us to reinvest in our business and win on a sustained basis. This model is simple and clear — and when we execute it consistently, we win.
20
We are focusing resources on winning with our 20largest innovations.
We have used this model to build a company with nearly $84 billion in sales and more than $10 billion in net earnings.
This model has also enabled P&G to deliver reliable and meaningful growth over long periods of time, outperforming the market and performing among the very best in our industry. Measuring from the end of each quarter starting in 1980, rolling 10-year returnshave exceeded both the S&P 500 and the Dow Jones Industrial Average in 82 out of 88 periods, or 93% of the time. And rolling 20-year returns have exceeded both the S&P 500 and the Dow Jones Industrial Average in 46 out of 48 periods, or 96% of the time. Within this longer-term track record, there have been shorter periods of underperformance, as we’ve experienced the past couple of years. These havetypically been followed by periods of strong outperformance. This past track record does not in any way guarantee future success. It does reflect, however, the strength of our timetested business model.
10
We are maintaining strong momentum in developing markets, targeting the 10 developing markets with the highest potential for growth.
P&G’s Long-Term Growth Targets
Organic Sales GrowthCore EPS Growth Free Cash Flow
1 – 2% above global market growth rates High single to low double digits 90% of net earnings
2
The Procter & Gamble Company
The model works. Funding it with productivity savings and executing it broadly and consistently with discipline is the proven way for P&G to deliver the business and financial results to which we’ve committed. This is what we aredoing.
Strong Growth in Developing Markets
OUR DEVELOPING-MARKET SALES growth has been
Fiscal Year 2012 Financial Results
Developing-market organic sales growth and cash flow productivity were both strong in 2012. Developed-market organic sales growth and earnings progress were not.
very strong over the past ten years. Three years ago, we made an intervention to expand further in these...
Dear Shareholders:
P&G is the world’s largest and most profitable consumer packaged goods company, with nearly $84 billion in sales and more than $10 billion in net earnings. We have built a portfolio of 25 billion-dollar brands — each of which generates from $1 billion to more than $10 billion of sales per year.They span a broad range of product categories — including household care, beauty, grooming, and personal health care — and are household names around the world, including Pampers, Gillette, Tide, Ariel, Downy, Pantene, Head & Shoulders, Olay, Oral-B, Crest, Dawn, Fairy and Always. We have three times more billion-dollar brands in our categories than our next-largest competitor and more than most ofour remaining competitors combined.
Focusing Our Growth Strategy
WE ARE FOCUSING P&G’S growth strategy on
our biggest opportunities:
40
We are focusing on our 40 largest and most profitable product categories in the most important geographic markets. These 40 businesses represent about 50% of sales and nearly 70% of operating profit.
We’re celebrating P&G’s 175th anniversary thisyear, a milestone that very few companies have achieved. Our long track record of success is based on a time-tested business model — we discover meaningful insights into what consumers need and want; we translate those insights into noticeably superior products focused on those needs; we communicate that superiority through advertising that includes compelling claims, performance demonstrations, andsuperior benefit visuals; and we price our products at a point where consumers experience superior overall value. All of this drives leadership market share, higher sales and lower costs, which enable us to reinvest in our business and win on a sustained basis. This model is simple and clear — and when we execute it consistently, we win.
20
We are focusing resources on winning with our 20largest innovations.
We have used this model to build a company with nearly $84 billion in sales and more than $10 billion in net earnings.
This model has also enabled P&G to deliver reliable and meaningful growth over long periods of time, outperforming the market and performing among the very best in our industry. Measuring from the end of each quarter starting in 1980, rolling 10-year returnshave exceeded both the S&P 500 and the Dow Jones Industrial Average in 82 out of 88 periods, or 93% of the time. And rolling 20-year returns have exceeded both the S&P 500 and the Dow Jones Industrial Average in 46 out of 48 periods, or 96% of the time. Within this longer-term track record, there have been shorter periods of underperformance, as we’ve experienced the past couple of years. These havetypically been followed by periods of strong outperformance. This past track record does not in any way guarantee future success. It does reflect, however, the strength of our timetested business model.
10
We are maintaining strong momentum in developing markets, targeting the 10 developing markets with the highest potential for growth.
P&G’s Long-Term Growth Targets
Organic Sales GrowthCore EPS Growth Free Cash Flow
1 – 2% above global market growth rates High single to low double digits 90% of net earnings
2
The Procter & Gamble Company
The model works. Funding it with productivity savings and executing it broadly and consistently with discipline is the proven way for P&G to deliver the business and financial results to which we’ve committed. This is what we aredoing.
Strong Growth in Developing Markets
OUR DEVELOPING-MARKET SALES growth has been
Fiscal Year 2012 Financial Results
Developing-market organic sales growth and cash flow productivity were both strong in 2012. Developed-market organic sales growth and earnings progress were not.
very strong over the past ten years. Three years ago, we made an intervention to expand further in these...
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