Examples of Haleon Group in a sentence
The Sweep-up Dividend is the cash dividend of £641 million to be paid by the Haleon Group to GSKCHH and PFCHH, in accordance with the terms of the Pfizer SHA, which, in summary, requires all readily available cash in excess of £300 million to be paid to GSKCHH and PFCHH prior to Separation.
The financial information in this Part 4 (Historical Financial Information on the Haleon Group) has been prepared using the IFRS accounting policies of the GSK Group, as adopted in the published consolidated financial statements for the three years ended 31 December 2021.
Adjustments have also been made to write off the goodwill and intangible assets held on consolidation at the GSK Group level relating to the Haleon Group.
The financial information presented in this Part 4 (Historical Financial Information on the Haleon Group) has been prepared to reflect the legal perimeter of the Haleon Group in connection with the anticipated Demerger and Separation of Haleon from the GSK Group and therefore differs both in purpose and basis of preparation to the Consumer Healthcare Segment as presented historically in GSK’s financial reporting.
Transformation of the Haleon Group The Group’s consumer healthcare business has been reshaped for growth since 2015 through: • the divestment of growth-dilutive brands (including approximately 50 non-strategic and growth-dilutive OTC and skincare assets from 2019 to 2021 to raise £1.1 billion of net proceeds); • the increased contribution to revenue from higher-growth Power Brands from 44 per cent.
One of the former participating employers in the GSK UK Pension Schemes and the SBSEPP is a company within the Haleon Group (the “Haleon Employer”).
The Board believes that the Haleon Group has a compelling financial profile over the medium term (on a constant currency basis) that will deliver attractive shareholder returns, based on: • expected annual Organic Revenue Growth of 4 to 6 per cent., ahead of the broader consumer healthcare market; • sustainable moderate expansion of Adjusted Operating Profit Margin; and • continued high Free Cash Flow Conversion.
If the Haleon Group does not effectively develop and implement these capabilities, or it is unable to source further arrangements from third- party providers, its business, results of operations, financial condition and prospects could be materially and adversely affected.
As part of the steps relating to the Demerger and Separation (described in further detail in paragraph 13 of this Part 1 (Letter from the Chair)), the SLPs will exchange unlisted shares conferring an interest in the Haleon Group for shares in Haleon.
As the Haleon Group does not currently have the capabilities to provide these services internally, on a standalone basis, without third-party support, the Transition Services Agreement provides contractual protections for the continued provision of these services during the relevant transitional period, absent which the Haleon Group would need to procure these services from other third-party providers.