GSK - GSK plc (GSK) Q4 2023 Earnings Call Transcript
2024-01-31 08:34:05 ET
GSK plc (GSK)
Q4 2023 Earnings Conference Call
January 31, 2024 06:00 AM ET
Company Participants
Nick Stone - Head, Investor Relations
Emma Walmsley - Chief Executive Officer
Luke Miels - Chief Commercial Officer
Deborah Waterhouse - Chief Executive Officer, ViiV Healthcare
Julie Brown - Chief Financial Officer
Tony Wood - Chief Scientific Officer
Conference Call Participants
Peter Welford - Jefferies
James Gordon - JPMorgan
Jo Walton - UBS
Simon Baker - Redburn
Tim Anderson - Wolfe Research
Richard Parkes - BNP Paribas
Andrew Baum - Citi
Graham Parry - Bank of America
Mark Purcell - Morgan Stanley
Kerry Holford - Berenberg
Steve Scala - TD Cowen
Presentation
Nick Stone
Hello, everyone. It's Nick Stone, Head of Investor Relations. Welcome to today's call and webcast. The presentation was sent to our distribution list by e-mail and you can also find it on gsk.com.
Please turn to Slide 2. This is the usual safe harbor statement. We will comment on our performance using constant exchange rates or CR unless stated otherwise. As a reminder following the Consumer Healthcare demerger in 2022, we're presenting performance and growth at the continuing operations for GSK.
Please turn to Slide 3. Today's call will last approximately one hour with the presentation taking around 30 minutes and the remaining time for your questions. We request that you ask one to two questions so that everyone has a chance to participate.
Turning to Slide 4, I will now hand the call over to Emma.
Emma Walmsley
Hello and a warm welcome to everybody joining this call. Today we are updating you on our performance for 2023, giving guidance for 2024, and providing you with new upgraded longer term outlooks.
Please turn to the next slide. In 2021, we set out a series of commitments to shareholders, including for a step change in performance following the significant transformation in GSK's structure, strategy, capital allocation, and culture. Since then, we've delivered 10 quarters of consecutive sales growth ex-COVID and our priority to invest in new vaccines and specialty medicines to reshape GSK's portfolio is now strongly evident with around two-thirds of sales now generated from these two product areas.
At the same time, we continue to strengthen our pipeline. The majority of the late-stage assets that we highlighted in 2021 have moved forward positively. And we've added multiple new opportunities to this portfolio including through targeted business development where we've secured more than 16 acquisitions and alliances for innovative assets and new technologies.
We have achieved all of this whilst maintaining a continued sharp focus on operating margins, cash flow, and capital allocation, mindful of the need to both invest for the future and to deliver attractive returns to shareholders....
GSK plc (GSK) Q4 2023 Earnings Call Transcript