Haleon plc (NYSE:HLN) Q2 2023 Earnings Conference Call August 2, 2023 5:00 AM ET
Company Participants
Sonya Ghobrial - Head, Investor Relations
Brian McNamara - Chief Executive Officer
Tobias Hestler - Chief Financial Officer
Conference Call Participants
Iain Simpson - Barclays
Guillaume Delmas - UBS
Rashad Kawan - Morgan Stanley
Chris Pitcher - Redburn
Alicia Forry - Investec
Olivier Nicolai - Goldman Sachs
Bruno Monteyne - Bernstein
Tom Sykes - Deutsche Bank
Sonya Ghobrial
Good morning, everyone and welcome to Haleon’s Half Year 2023 Q&A Conference Call. I'm Sonya Ghobrial, Head of Investor Relations and I'm joined this morning by Brian McNamara, our Chief Executive Officer; and Tobias Hestler, our Chief Financial Officer.
Just to remind listeners on the call that in the discussions today, the company may make certain forward-looking statements including those that refer to our estimates, plans and expectations. Please refer to this morning's announcement and the company's UK and SEC filings for more details including factors that could lead to actual results to differ materially from those expressed in, or implied by such forward-looking statements. We've posted today's presentation on the website this morning with prepared remarks running through the results in detail.
So with that, we'll go straight and open the call for Q&A. Thank you.
Question-and-Answer Session
Operator
[Operator Instructions] And our first question today comes from Iain Simpson from Barclays. Ian, your line is open. Please go ahead.
Iain Simpson
Good morning, everyone. Two questions from me please. Firstly that 7% to 8% full year 2023 organic sales growth guide that implies 4% to 6% in the second half, which is obviously in line with your medium-term guidance. Is that how you should think about it, you're basically booking the strong first half and just delivering on the algo in the second half? And in terms of the moving parts within that second half. There was some nervousness that tough, cold and flu comps and respiratory might be an H2 headwind. Do you feel more relaxed about those now, or do you expect strength elsewhere in the business to offset tough respiratory comps in the second half?
And then in terms of second question, just wondered if we could unpick the moving parts in the margin. So you're guiding 7% to 8% organic, top line 9% to 11% constant FX EBIT, so margins adding 2% to 3% to EBIT. But then in terms of FX impact on the business, we seem to be looking at sort of 4% top line, 6% to 7% EBIT, so 2% to 3% drag from FX.