GSK enquiries:
|
|
|
|
Media
enquiries:
|
Tim
Foley
|
+44 (0)
20 8047 5502
|
(London)
|
|
Simon
Moore
|
+44 (0)
20 8047 5502
|
(London)
|
|
Madeleine
Breckon
|
+44 (0)
20 8047 5502
|
(London)
|
|
Kathleen
Quinn
|
+1 202
603 5003
|
(Washington
DC)
|
|
Lyndsay
Meyer
|
+1 202
302 4595
|
(Washington
DC)
|
|
|
|
|
Analyst/Investor
enquiries:
|
Nick
Stone
|
+44 (0)
7717 618834
|
(London)
|
|
Sonya
Ghobrial
|
+44 (0)
7392 784784
|
(Consumer)
|
|
James
Dodwell
|
+44 (0)
20 8047 2406
|
(London)
|
|
Mick
Readey
|
+44 (0)
7990 339653
|
(London)
|
|
Josh
Williams
|
+44 (0)
7385 415719
|
(London)
|
|
Jeff
McLaughlin
|
+1 215
751 7002
|
(Philadelphia)
|
|
|
Total Results
|
|
Q1
2021
£m
|
|
Q2
2021
£m
|
|
Q3
2021
£m
|
|
Q4
2021
£m
|
|
Full
Year
£m
|
|
Q1
2022
£m
|
|
|
|
|
|
|
|
|
|
|
|
|
Continuing Operations
|
|
|
|
|
|
|
|
|
|
|
|
Turnover
|
5,155
|
|
5,838
|
|
6,627
|
|
7,076
|
|
24,696
|
|
7,190
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of
sales
|
(1,654)
|
|
(1,708)
|
|
(2,016)
|
|
(2,785)
|
|
(8,163)
|
|
(2,717)
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross
profit
|
3,501
|
|
4,130
|
|
4,611
|
|
4,291
|
|
16,533
|
|
4,473
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling, general
and administration
|
(1,509)
|
|
(1,689)
|
|
(1,679)
|
|
(2,193)
|
|
(7,070)
|
|
(1,812)
|
Research
and development
|
(1,060)
|
|
(1,167)
|
|
(1,416)
|
|
(1,376)
|
|
(5,019)
|
|
(1,103)
|
Royalty
income
|
88
|
|
77
|
|
115
|
|
137
|
|
417
|
|
138
|
Other
operating income / (expense)
|
190
|
|
(76)
|
|
(251)
|
|
(368)
|
|
(505)
|
|
592
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
profit
|
1,210
|
|
1,275
|
|
1,380
|
|
491
|
|
4,356
|
|
2,288
|
|
|
|
|
|
|
|
|
|
|
|
|
Finance
income
|
6
|
|
4
|
|
3
|
|
1
|
|
14
|
|
8
|
Finance
costs
|
(198)
|
|
(189)
|
|
(195)
|
|
(187)
|
|
(769)
|
|
(205)
|
Loss on
disposal of interests in associates
|
-
|
|
(36)
|
|
-
|
|
-
|
|
(36)
|
|
-
|
Share
of after tax profits of associates and joint ventures
|
16
|
|
16
|
|
3
|
|
(2)
|
|
33
|
|
(1)
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit
before taxation
|
1,034
|
|
1,070
|
|
1,191
|
|
303
|
|
3,598
|
|
2,090
|
|
|
|
|
|
|
|
|
|
|
|
|
Taxation
|
(155)
|
|
201
|
|
(246)
|
|
117
|
|
(83)
|
|
(327)
|
Tax rate %
|
15.0%
|
|
(18.8%)
|
|
20.7%
|
|
(38.6%)
|
|
2.3%
|
|
15.6%
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit
after tax from continuing operations
|
879
|
|
1,271
|
|
945
|
|
420
|
|
3,515
|
|
1,763
|
Profit
after tax from discontinued operations
|
381
|
|
267
|
|
423
|
|
510
|
|
1,581
|
|
404
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit
after tax for the period
|
1,260
|
|
1,538
|
|
1,368
|
|
930
|
|
5,096
|
|
2,167
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit
(Loss) attributable to non-controlling interests from continuing
operations
|
80
|
|
57
|
|
69
|
|
(6)
|
|
200
|
|
275
|
Profit
attributable to shareholders from continuing
operations
|
799
|
|
1,214
|
|
876
|
|
426
|
|
3,315
|
|
1,488
|
Profit
attributable to non-controlling interests from discontinued
operations
|
107
|
|
86
|
|
131
|
|
187
|
|
511
|
|
90
|
Profit
attributable to shareholders from discontinued
operations
|
274
|
|
181
|
|
292
|
|
323
|
|
1,070
|
|
314
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
profit attributable to non-controlling interests
|
187
|
|
143
|
|
200
|
|
181
|
|
711
|
|
365
|
Total
profit attributable to shareholders
|
1,073
|
|
1,395
|
|
1,168
|
|
749
|
|
4,385
|
|
1,802
|
|
1,260
|
|
1,538
|
|
1,368
|
|
930
|
|
5,096
|
|
2,167
|
Earnings
per share from continuing operations
|
16.0p
|
|
24.3p
|
|
17.6p
|
|
8.4p
|
|
66.3p
|
|
29.7p
|
Earnings
per share from discontinued operations
|
5.5p
|
|
3.6p
|
|
5.7p
|
|
6.6p
|
|
21.3p
|
|
6.2p
|
|
|
|
|
|
|
|
|
|
|
|
|
Total earnings per share[3]
|
21.5p
|
|
27.9p
|
|
23.3p
|
|
15.0p
|
|
87.6p
|
|
35.9p
|
Reconciliation of Total Results from Continuing operations to
Adjusted Results from Continuing operations
|
||||||||||||
|
Q1
2021
£m
|
|
Q2
2021
£m
|
|
Q3
2021
£m
|
|
Q4
2021
£m
|
|
Full
Year
£m
|
|
Q1
2022
£m
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Operating profit from continuing operations
|
1,210
|
|
1,275
|
|
1,380
|
|
491
|
|
4,356
|
|
2,288
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Intangible
amortisation
|
191
|
|
186
|
|
190
|
|
194
|
|
761
|
|
186
|
|
Intangible
impairment
|
13
|
|
7
|
|
264
|
|
62
|
|
346
|
|
(16)
|
|
Major
restructuring
|
66
|
|
102
|
|
97
|
|
159
|
|
424
|
|
51
|
|
Transaction
related
|
116
|
|
130
|
|
290
|
|
604
|
|
1,140
|
|
347
|
|
Divestments,
significant legal and other items
|
(271)
|
|
(59)
|
|
(12)
|
|
(193)
|
|
(535)
|
|
(912)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted Operating
profit from continuing operations
|
1,325
|
|
1,641
|
|
2,209
|
|
1,317
|
|
6,492
|
|
1,944
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Earnings per share from continuing operations3
|
16.0p
|
|
24.3p
|
|
17.6p
|
|
8.4p
|
|
66.3p
|
|
29.7p
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Intangible
amortisation
|
3.1p
|
|
3.0p
|
|
3.1p
|
|
3.0p
|
|
12.2p
|
|
3.0p
|
|
Intangible
impairment
|
0.2p
|
|
0.1p
|
|
4.0p
|
|
1.0p
|
|
5.3p
|
|
(0.2)p
|
|
Major
restructuring
|
1.1p
|
|
1.6p
|
|
1.5p
|
|
2.7p
|
|
6.9p
|
|
0.8p
|
|
Transaction
related
|
1.1p
|
|
1.1p
|
|
4.0p
|
|
8.2p
|
|
14.4p
|
|
8.1p
|
|
Divestments,
significant legal and other items
|
(4.5)p
|
|
(7.5)p
|
|
(0.3)p
|
|
(4.5)p
|
|
(16.8)p
|
|
(15.5)p
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted Earnings
per share from continuing operations3
|
16.9p
|
|
22.6p
|
|
29.9p
|
|
18.8p
|
|
88.3p
|
|
25.8p
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted result from continuing operations
Adjusted
results are from continuing operations and exclude the Consumer
Healthcare business.
|
||||||||||||
|
Q1
2021
£m
|
|
Q2
2021
£m
|
|
Q3
2021
£m
|
|
Q4
2021
£m
|
|
Full
Year
£m
|
|
Q1
2022
£m
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Turnover
|
5,155
|
|
5,838
|
|
6,627
|
|
7,076
|
|
24,696
|
|
7,190
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of
sales
|
(1,435)
|
|
(1,522)
|
|
(1,797)
|
|
(2,592)
|
|
(7,346)
|
|
(2,527)
|
|
Selling, general
and administration
|
(1,462)
|
|
(1,646)
|
|
(1,623)
|
|
(2,018)
|
|
(6,749)
|
|
(1,769)
|
|
Research
and development
|
(1,021)
|
|
(1,107)
|
|
(1,112)
|
|
(1,285)
|
|
(4,525)
|
|
(1,088)
|
|
Royalty
income
|
88
|
|
78
|
|
114
|
|
136
|
|
416
|
|
138
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted
Operating profit
|
1,325
|
|
1,641
|
|
2,209
|
|
1,317
|
|
6,492
|
|
1,944
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
finance cost
|
(190)
|
|
(185)
|
|
(190)
|
|
(186)
|
|
(751)
|
|
(197)
|
|
Share
of after tax profits of associates and joint ventures
|
16
|
|
16
|
|
3
|
|
(2)
|
|
33
|
|
(1)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted
profit before taxation
|
1,151
|
|
1,472
|
|
2,022
|
|
1,129
|
|
5,774
|
|
1,746
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Taxation
|
(195)
|
|
(244)
|
|
(402)
|
|
(77)
|
|
(918)
|
|
(291)
|
|
Tax rate %
|
16.9%
|
|
16.6%
|
|
19.9%
|
|
6.8%
|
|
15.9%
|
|
16.7%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted profit
after taxation
|
956
|
|
1,228
|
|
1,620
|
|
1,052
|
|
4,856
|
|
1,455
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted profit
attributable to non-controlling interests
|
112
|
|
99
|
|
121
|
|
109
|
|
441
|
|
161
|
|
Adjusted profit
attributable to shareholders
|
844
|
|
1,129
|
|
1,499
|
|
943
|
|
4,415
|
|
1,294
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted earnings per share3
|
16.9p
|
|
22.6p
|
|
29.9p
|
|
18.8p
|
|
88.2p
|
|
25.8p
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Impact of Covid solutions[4]
|
(0.2)p
|
|
3.8p
|
|
1.5p
|
|
3.8p
|
|
8.8p
|
|
3.2p
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
profits by segment are from continuing operations and exclude the
Consumer Healthcare business.
|
||||||||||||
|
Q1
2021
£m
|
|
Q2
2021
£m
|
|
Q3
2021
£m
|
|
Q4
2021
£m
|
|
Full
Year
£m
|
|
Q1
2022
£m
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial
Operations
|
2,446
|
|
2,872
|
|
3,461
|
|
2,703
|
|
11,482
|
|
3,120
|
|
Research
and Development
|
(1,030)
|
|
(1,118)
|
|
(1,139)
|
|
(1,281)
|
|
(4,568)
|
|
(1,095)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment
profit
|
1,416
|
|
1,754
|
|
2,322
|
|
1,422
|
|
6,914
|
|
2,025
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate
& other unallocated costs
|
(91)
|
|
(113)
|
|
(113)
|
|
(105)
|
|
(422)
|
|
(81)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted
operating profit
|
1,325
|
|
1,641
|
|
2,209
|
|
1,317
|
|
6,492
|
|
1,944
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Impact of Covid solutions
|
(12)
|
|
233
|
|
97
|
|
214
|
|
532
|
|
194
|
|
|
Q1
2021
£m
|
|
Q2
2021
£m
|
|
Q3
2021
£m
|
|
Q4
2021
£m
|
|
Full
Year
£m
|
|
Q1
2022
£m
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Specialty
|
1,575
|
|
1,879
|
|
2,019
|
|
2,778
|
|
8,251
|
|
3,135
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Vaccines
|
1,224
|
|
1,571
|
|
2,174
|
|
1,809
|
|
6,778
|
|
1,669
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Respiratory
|
1,492
|
|
1,514
|
|
1,492
|
|
1,550
|
|
6,048
|
|
1,535
|
||||||||
Other
General Medicines
|
864
|
|
874
|
|
942
|
|
939
|
|
3,619
|
|
851
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
General
Medicines
|
2,356
|
|
2,388
|
|
2,434
|
|
2,489
|
|
9,667
|
|
2,386
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Total
Commercial Operations
|
5,155
|
|
5,838
|
|
6,627
|
|
7,076
|
|
24,696
|
|
7,190
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
US
|
2,218
|
|
2,782
|
|
3,390
|
|
3,524
|
|
11,914
|
|
3,586
|
||||||||
Europe
|
1,257
|
|
1,260
|
|
1,333
|
|
1,520
|
|
5,370
|
|
1,660
|
||||||||
International
|
1,680
|
|
1,796
|
|
1,904
|
|
2,032
|
|
7,412
|
|
1,944
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Total
Commercial Operations
|
5,155
|
|
5,838
|
|
6,627
|
|
7,076
|
|
24,696
|
|
7,190
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Impact of Covid solutions
|
-
|
|
276
|
|
209
|
|
920
|
|
1,405
|
|
1,307
|
|
GSK plc
|
|
(Registrant)
|
|
|
Date: July
05, 2022
|
|
|
|
|
By:/s/ VICTORIA
WHYTE
--------------------------
|
|
|
|
Victoria Whyte
|
|
Authorised
Signatory for and on
|
|
behalf
of GSK plc
|