DGEAF 6-K
Diageo PLC (DEO)
6-K
2026-08-06
For: 2026-08-06
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Added on
August 06, 2026
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF THE
SECURITIES EXCHANGE ACT OF 1934
06 August 2026
Commission File Number: 001-10691
DIAGEO plc
(Translation
of registrant’s name into English)
16 Great Marlborough Street, London, United Kingdom, W1F 7HS
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form
20-F X
Form
40-F
This
announcement includes inside information
6 August 2026
Diageo Capital Markets Day: building a more competitive business,
focused on creating shareholder value
Diageo
is hosting a Capital Markets Day today. The event will provide
further detail on the strategy and
the progress made on the turnaround of Diageo and our pathway to sustainable value creation for shareholders.
We
believe that the spirits market including RTDs remains robust, with
long-term growth potential, and we have a clear strategy to drive
market outperformance. We also remain excited about the growth
potential in Guinness, with accelerated investment to leverage this
opportunity more fully.
The
three priorities set out at the half year, (i) Relevant brands in
competitive category strategies, ii) Customer, Customer, Customer
and iii) A more agile and competitive operating framework, are
serving us well and lay the foundation for what we will cover at
the Capital Markets Day today.
In
aggregate we expect c.$1 billion in savings over the next three
years from the work on both the operating framework as well as
further work on supply chain. The operating framework redesign is
expected to deliver c.$850 million of savings, with c.40% of the
savings in fiscal 27 and the balance in fiscal 28. We also expect
c.$150 million savings from supply chain initiatives, with c.25% of
the savings in fiscal 27 and the balance in the following years.
Restructuring costs related to both programmes will total c.$1.2
billion; c.$1.1 billion for the operating framework of which c.$752
million was incurred in fiscal 26, and c.$100 million for the
supply chain savings expected to be incurred in fiscal
27.
We
will also set out the building blocks that underpin our confidence
in providing our fiscal 27 guidance and our medium term guidance
for fiscal 27 to fiscal 29.
For fiscal
27, we expect:
●
Broadly
flat organic net sales growth, with North America organic net sales
down mid-single-digit. This assumes that the market in North
America is down c.3% with improving share performance compared to
fiscal 26.
●
Organic
operating profit growth up low-to mid-single-digit, including c.40%
of the c.$850 million cost savings from the operating framework
changes and c.25% of the c.$150 million supply
chain savings.
●
Free
cash flow of c.$2 billion after c.$800 million exceptional cash
costs related to the operating framework changes and c.$50 million
exceptional cash costs related to the supply chain
savings programme.
●
We
expect to end fiscal 27 around the mid-point of our target leverage
range (2.5 - 3.0x net debt/EBITDA), assuming successful completion
of the EABL and Royal Challengers
Bengaluru transactions.
Over the
medium term, we expect a
CAGR through fiscal 27 to fiscal 29 of:
●
Low-single-digit
organic net sales growth, accelerating over the period as we
stabilise and grow share in North America.
●
Mid-single-digit
organic operating profit growth reflecting the benefit of savings
and more favourable mix over the period.
●
Attractive
EPS growth ahead of organic operating profit growth, on a currency
neutral basis.
●
Cumulative
free cash flow of c.$8 billion over the 3 years after c.$850
million exceptional cash costs, mainly relating to the operating
framework changes.
Sir Dave Lewis, Chief Executive Officer, said:
We
look forward to meeting with shareholders this afternoon to share
the progress we've made over the past six months, the strategic
direction we have chosen, and to provide medium-term guidance. This
new strategy, executing with a new, more agile, competitive and
cost-effective operating model, gives us confidence that we can
return Diageo to a business consistently creating value for
shareholders. We remain a business with a very strong
premiumisation agenda, but by activating our wider portfolio, we
will be able to serve more consumers, across a variety of
occasions. There is hard work ahead, particularly in North America,
where improving performance is a clear priority, but we are
confident we can deliver without taking a step back in operating
profit. The team and I look forward to sharing more this afternoon
and to the work ahead.
Further details
Randall
Ingber, General Counsel and Company Secretary, is responsible for
arranging the release of this announcement on behalf of
Diageo.
The
Capital Markets Day will start at 1.30pm UK (2.30pm CEST) and will
consist of a series of presentations. The event will be
webcast for those not attending in person, and there will also be
an opportunity to ask questions during a Q&A session at the end
of the day.
Registration to listen to the event can be done at
the following link:
https://www.investis-live.com/diageo/6a31331eca8e91000fb4df3f/hfsua
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For
further information, please contact:
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Investor relations:
Sonya Ghobrial
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07392 784784
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Andy Ryan
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07803 854842
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Grace Murphy
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07514 726167
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Media relations:
Rebecca Perry
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07590 809101
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Clare Cavana
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07751 742072
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07803856 200
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About Diageo
Diageo
is a global leader in beverage alcohol with an outstanding
collection of brands across spirits and beer categories. These
brands include Johnnie Walker, Crown Royal, J&B and Buchanan's
whiskies, Smirnoff, Cîroc and Ketel One vodkas, Captain
Morgan, Baileys, Don Julio, Tanqueray and Guinness.
Diageo is a global company, and our products are
sold in nearly 180 countries around the world. The company is
listed on both the London Stock Exchange (DGE) and the New York
Stock Exchange (DEO). For more information about Diageo, our
people, our brands, and performance, visit us
at www.diageo.com. Visit
Diageo's global responsible drinking
resource, www.DRINKiQ.com for
information, initiatives, and ways to share best
practice.
Crafting
iconic drinks chosen for life's moments.
Cautionary statement concerning forward-looking statements
This
press release contains 'forward-looking' statements. These
statements can be identified by the fact that they do not relate
only to historical or current facts and may generally, but not
always, be identified by the use of words such as "'will",
"anticipates", "should", "could", "would", "targets", "aims",
"may", "expects", "intends" or similar expressions or statements.
In this document, such statements include those that express
forecasts, expectations, plans, outlook, objectives and projections
with respect to future matters, including information related to
Diageo's fiscal 27 outlook and beyond, Diageo's medium-term
guidance, ambitions relating to organic net sales, organic
operating profit, EPS, free cash flow and improved operating
leverage, Diageo's Accelerate programme, anticipated cost savings
or synergies, expected investments, the completion of any strategic
transactions or restructuring programmes including the operating
framework redesign, and any other statements relating to Diageo's
performance for the year ending 30 June 2027 or
thereafter.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
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Diageo plc
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(Registrant)
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Date:
06 August 2026
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By:___/s/
James Edmunds
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James Edmunds
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Deputy Company Secretary
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