Investor Presentaiton
Delivering committed improvements in performance
Excluding COVID-19 solutions
2021-2026 outlook¹
20222
Status
2023 outlooks³
Sales: >5% CAGR
+10%
6-8%
Vaccines: high-single digit % CAGR
+17%
✓
Specialty Medicines: double-digit % CAGR
+15%
General Medicines: broadly stable
+1%
Adj. operating profit: >10% CAGR
+17%
Adj. operating margin: >30% by 2026
28.5%
Cash generated from operations: >£10bn by 2026
£7.9bn4
Increase mid-teens %
Increase mid to high single-digit %
Slight decrease
10-12%
On track
On track
1. All outlooks, ambitions, and considerations should be read together with pages 5-7 of the stock-exchange announcement relating to an update to investors dated 23 June 2021, paragraph 19 of Part 7 of the Circular to shareholders relating to the
demerger of Haleon plc dated 1 June 2022 and the Guidance, assumptions and cautionary statements in the Q4 2022 earnings release. All outlook and ambition statements are given on a constant currency basis and use 2021 forecast exchange rates as a
base, assuming a continuation of Q1 2021 closing rates. CAGR is for the 5 years to 2026, using 2021 as the base year. 2. Continuing results represents performance excluding discontinued operations. 3. Please also refer to page 2 of the fourth quarter 2022
results announcement. All outlooks, targets, ambitions and expectations regarding future performance and the dividend should be read together with the "Guidance, assumptions and cautionary statements" on pages 68 and 69 of our fourth quarter 2022
earnings release. 4. Including COVID-19 solutions.
GSK
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