2023 Guidance and Q3 Earnings slide image

2023 Guidance and Q3 Earnings

Delivered a very strong Q3 2023 financial performance Key commentary Q3'22 Q3'23 AER CER Adjusted results £m £m % % Sales 7,829 8,147 4 10 Cost of sales (2,214) (2,073) (6) (4) Sales grew +16% excluding COVID-19 solutions Benefit from lower sales of lower margin Xevudy and favourable mix Gross profit 5,615 6,074 15 Gross profit margin 71.7% 74.6% +280 bps +360 bps +80 bps excluding COVID-19 solutions Selling, general and administrative (1,968) (2,185) 11 17 SG&A growth +14% excluding COVID-19 solutions Research and development (1,297) (1,429) 10 14 Primarily late-stage Vaccines, ID and HIV therapy areas Royalties 255 312 22 23 Benefit from Gardasil, Kesimpta and Biktarvy Operating profit 2,605 2,772 15 OP grew +22% excluding COVID-19 solutions Operating profit margin 33.3% 34.0% +80 bps +170 bps Q3'22 Q2'23 AER CER Total results Total operating profit £m £m % % 1,191 1,949 64 83 Total operating profit margin 15.2% 23.9% 870 bps 1,010 bps GSK Adjusted results for continuing operations unless stated otherwise; some figures may not sum due to rounding. See page 19 of GSK's third quarter 2023 earnings release for a full reconciliation of Total to Adjusted results 22 22
View entire presentation