We’ve launched Distilled 2025 - our annual Consumer Trends Report.
Performance highlights
Financial performance
Non-financial performance
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Market Overview
Market overview and investment case
Total Beverage Alcohol (TBA) is a highly attractive and exciting consumer category. TBA is resilient and growing; and the spirits category is growing even faster. TBA has grown at 4.4% CAGR in the 10 years through to 2023, and international spirits has grown at 5.1% over the same period.(1)
(1) IWSR, 2023.
Consumers are choosing spirits
Diageo sees a long-term trend of consumers choosing to switch to spirits from beer and wine, driving volume growth for spirits. This growth is supported by favourable population demographics, the increasing size of the middle class in key markets globally and strong premiumisation trends. These are expected to continue into the future.
People drinking better, not more
Long runway for growth
In 2021, we set out our ambition to grow TBA share by 50% from 4% to 6% by 2030, and we remain confident that we will achieve this. With only 4.5% value share of TBA(1) currently, we have significant headroom for sustainable long-term growth
Delivering our Growth Ambition
Our Growth Ambition is our evolved strategy to win in fiscal 25 and beyond and to deliver the next phase of sustainable growth.
Through the Growth Ambition we will continue to focus on delivering on four key strategic outcomes that are now embedded in the business: providing efficient growth; delivering consistent value creation; building credibility and trust; and ensuring that our people and high-performing teams are fully engaged.
Growth Ambition
Celebrating life every day, everywhere
To create one of the best performing, most trusted and respected consumer product companies in the world
Unleash the power of our brands and portfolio to lead and shape consumer trends executed with operational excellence
BRANDS AND PORTFOLIO
- Whisk(e)y and tequila
Winning local portfolio
Guinness growth -
Comsumer Trends
- Premiumisation
Recruitment
New occasions -
Operational excellence
- Evolve brand building muscle Commercial excellence
Everyday efficiency -
Building a more Digital Diageo
Diverse and engaged talent with a focus on culture
Spirit of Progress and doing business the right way from grain-to-glass
Achieve quality TBA share of 6% by 2030
Efficient growth
Consistently grow organic net sales, grow operating profit, deliver strong free cash flow
Consistent value creation
Top-tier total shareholder returns, increase return on invested capital
Credibility and trust
Engaged people
High-performing and engaged teams, continuous learning, inclusive culture
Performance against our Spirit of Progress
Spirit of Progress, our ongoing ESG action plan, addresses the most significant environmental and social opportunities and risks Diageo faces. It has three priorities to promote positive drinking, champion inclusion and diversity and pioneer grain-to-glass sustainability. Doing business the right way underpins everything we do.
Our ESG reporting approach
Our ESG reporting suite aims to provide comprehensive and comparable disclosures for a broad range of stakeholders. As well as publishing our integrated Annual Report and ESG Reporting Index each year, we also submit non-financial information to benchmarking and index organisations, including those listed on the Awards and ranking page of our website.
The non-financial reporting space is evolving quickly. We are committed to continually evaluating and improving our approach and to actively tracking emerging ESG regulation, frameworks and good practice. Since launching our Spirit of Progress ESG action plan, we have set out to help create a more inclusive and sustainable world, creating a positive impact in our company, and for our society.
Case studies
Downloads
1 AUG 2024 | DOWNLOAD |
Annual Report 2024 |
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Strategic report 2024 |
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Governance report 2024 |
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Audit Committee report 2024 |
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Business Model 2024 |
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Chairs Statement 2024 |
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Directors' remuneration report 2024 |
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Chief Executives Statement 2024 |
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Corporate Governance Report 2024 |
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Financial Report 2024 |
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Nomination Committee Report 2024 |
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20-F filing 2024 |
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Instantly Recognisable Brands 2024 |
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Market Overview and Investment Case 2024 |
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Our Growth Ambition 2024 |