Reckitt Benckiser Group plc (LON:RKT) has announced its Q3 Results 2025.
CONTINUED DELIVERY, EXECUTING ON OUR PLAN
“We have delivered a strong third-quarter performance with LFL net revenue up 6.7% in Core Reckitt. These results reflect sequential volume improvements and the strength of our Powerbrands. We returned to growth in Developed Markets against a challenging consumer landscape and continued to deliver outsized growth in Emerging Markets. With our sharpened operating structure, we are executing our plan and progressing our strategic objectives to be a world-class consumer health and hygiene company. We are pleased with our performance and we are confident in delivering our full year 2025 guidance.”
Kris Licht, Chief Executive Officer
| Q3 2025 | YTD 2025 | ||||||
| Net Revenue | £m | LFL1 | IFRS | £m | LFL1 | IFRS | |
| Emerging Markets | 1,080 | +15.5% | +11.8% | 3,159 | +13.7% | +8.5% | |
| Europe | 865 | +0.8% | +0.9% | 2,554 | -0.3% | -2.6% | |
| North America | 658 | +1.3% | -2.5% | 1,896 | -0.7% | -3.8% | |
| Core Reckitt | 2,603 | +6.7% | +4.2% | 7,609 | +5.0% | +1.4% | |
| Essential Home | 479 | -4.9% | -6.4% | 1,390 | -6.0% | -9.0% | |
| Mead Johnson Nutrition | 529 | +22.0% | +18.9% | 1,592 | +4.0% | 0.0% | |
| Group | 3,611 | +7.0% | +4.5% | 10,591 | +3.3% | -0.3% | |
1. Adjusted and Non-GAAP measures are defined on page 8.
Group
| Net Revenue | £m | Volume | Price / Mix | LFL1 | Net M&A | FX | IFRS |
| Q3 2025 | 3,611 | +4.2 % | +2.8% | +7.0% | -0.1% | -2.4% | +4.5% |
| Net Revenue | £m | Volume | Price / Mix | LFL1 | Net M&A | FX | IFRS |
| YTD 2025 | 10,591 | +0.7% | +2.6% | +3.3% | 0.0% | -3.6% | -0.3% |
1. Adjusted and Non-GAAP measures are defined on page 8.
q3 highlights
Strong Group performance driven by Core Reckitt
· Core Reckitt Q3 LFL net revenue growth +6.7% (YTD: +5.0%), led by stand-out growth in Emerging Markets and a return to growth in North America and Europe.
· Volume growth momentum in Core Reckitt continues, Q3 LFL net revenue comprised +3.4% volume growth (versus +1.2% in H1) and a well-balanced algorithm with +3.3% price/mix contribution.
· Group Q3 LFL net revenue growth +7.0% (YTD: +3.3%), driven by Core Reckitt and supported by Mead Johnson Nutrition (LFL net revenue +22.0%) as the business lapped the significant impact of the July 2024 tornado (Nutrition Q3 2024 LFL net revenue -17.4%). Essential Home Q3 LFL net revenue growth of -4.9% (YTD -6.0%).
Volume-led momentum in Core Reckitt with all Areas in growth
· Further broad-based growth across Emerging Markets regions and categories; LFL net revenue +15.5% in Q3 (+13.7% YTD), led by sustained outperformance in China and with a balanced contribution across volume (+7.4%) and price / mix (+8.1%).
· Europe returned to growth in Q3, LFL net revenue growth of +0.8% (-0.3% YTD), with recent innovations driving positive mix through premiumisation and sequential volume improvement despite a challenging consumer backdrop.
· North America produced a solid performance outside of seasonal OTC in Q3, returning to LFL net revenue growth of +1.3% (YTD -0.7%) despite lapping a Covid spike in Q3 2024.
· Categories delivering volume and LFL net revenue growth in Q3, led by Intimate Wellness and Germ Protection, driven by category-creating innovations. All categories in growth through 2025 YTD.
Delivering our strategy
· Delivering a balanced growth algorithm, with volume and price / mix performance benefiting from recent innovations including across Self Care (Mucinex Rapid+Clear and Childrens medicated Mighty Chews) and Intimate Wellness (Durex Intensity, upgrades to Benzocaine condoms and lubricants portfolio in China).
· Continued progress towards completion of the announced divestment of Essential Home; transaction expected to complete by 31 December 2025.
· £1 billion share buyback programme commenced on 28 July 2025. As of 21 October 2025 the first £250m tranche has been completed.
FY 2025 outlook MAINTAINED
· FY 2025 outlook maintained; we expect LFL net revenue growth above 4% in Core Reckitt.
· Maintained expectations for Mead Johnson Nutrition at low-to-mid single digit LFL net revenue growth in FY 2025.
· In Essential Home, we expect a mid single digit decline in LFL net revenue for FY 2025 (from low single digit decline previously).
· Overall, for FY 2025, we maintain expectations of Group LFL net revenue growth of +3% to +4%.
· Our Fuel for Growth programme is expected to help drive adjusted operating profit ahead of net revenue growth.
· We expect to deliver another year of adjusted diluted EPS growth.
· Other technical guidance:
o Adjusted net finance expense is expected to be in the range of £350m to £370m (2024: £323m).
o The adjusted effective tax rate is expected to be around 25% (2024: 22.2%)
o Capital expenditure as a percentage of net revenue is expected to be 3% to 4% (2024: 3.3%).
CORE RECKITT performance
| Q3 2025 | Net revenue (£m) | Volume | Price / Mix | LFL1 | Net M&A | FX | IFRS |
| Emerging Markets | 1,080 | +7.4% | +8.1% | +15.5% | 0.0% | -3.7 % | +11.8% |
| Europe / ANZ | 865 | -0.5% | +1.3% | +0.8% | -0.4% | +0.5% | +0.9% |
| North America | 658 | +2.3% | -1.0% | +1.3% | 0.0% | -3.8 % | -2.5% |
| Core Reckitt | 2,603 | +3.4% | +3.3% | +6.7% | -0.1% | -2.4% | +4.2% |
| YTD 2025 | Net revenue (£m) | Volume | Price / Mix | LFL1 | Net M&A | FX | IFRS |
| Emerging Markets | 3,159 | +7.2% | +6.5% | +13.7% | -0.5% | -4.7% | +8.5% |
| Europe / ANZ | 2,554 | -2.4% | +2.1% | -0.3% | -0.2% | -2.1% | -2.6% |
| North America | 1,896 | -0.1% | -0.6% | -0.7% | 0.0% | -3.1% | -3.8% |
| Core Reckitt | 7,609 | +1.9% | +3.1% | +5.0% | -0.3% | -3.3% | +1.4% |
1. Adjusted and Non-GAAP measures are defined on page 8.
Emerging Markets (42% of Core Reckitt Q3 net revenues)
· Emerging Markets net revenue grew +15.5% on a LFL basis in the quarter to £1,080m, with +7.4% volume growth and +8.1% price / mix improvement.
· We delivered broad-based growth across our regions in Emerging Markets with all categories delivering growth in Q3, including Intimate Wellness and Self Care delivering strong, double-digit growth rates.
· China delivered another strong quarter of broad-based double-digit growth across categories, with continued success of recently launched new segments in China, notably Dettol (Botantical fragrances), Durex (Benzocaine condoms, lubricants upgrades) and Intima (Formula upgrade, Travel pack).
· We continued to drive encouraging sell out performance in India whilst LFL net revenue growth (low single digit) was impacted by the GST regime change in September. This resulted in a shift of trade orders to Q4. LFL net revenue growth in India remains high single digit through 2025 YTD.
· Performance was mixed across Latin America, with a softer consumer environment in Brazil offset by growth across all categories in Mexico.
· Double-digit growth was delivered in a number of currently small, but high potential markets, including Indonesia, Malaysia and Colombia.
· We continued to gain market share across key Germ Protection and Intimate Wellness category markets, particularly in Dettol (China), Durex (China and India), Veet (China), and in Self Care; VMS (China) and Gaviscon (ASEAN and Latin America).
· YTD Emerging Markets net revenue grew +13.7% on a LFL basis.
Europe (33% of Core Reckitt Q3 net revenues)
· Europe net revenue grew +0.8% on a LFL basis in the quarter to £865m, with -0.5% volume decline and +1.3% price / mix improvement. We have delivered continued sequential improvement in volumes (Q1 -4.7%, Q2 -1.9%).
· Market-wide category growth remained challenged through Q3 with broadly flat value growth across the Area.
· Across Europe, four out of our six regions were in LFL net revenue growth in Q3, with a very challenging pricing environment in Western Europe.
· In Intimate Wellness, we delivered mid single digit growth in Durex, driven by innovation and the launch of Durex Intensity across a number of markets, and we are continuing the roll-out of Intensity in Q4 2025.
· Non-seasonal Self Care performed strongly, driven by the continued success of Gaviscon and Nurofen (including the launch of Nurofen mini liquid capsules) across a number of markets.
· While Household Care was negatively impacted by a more competitive pricing environment, we continued to premiumise our consumer offer in Finish, with strong volume growth of Ultimate Plus in Q3.
· YTD Europe net revenue declined -0.3% on a LFL basis.
North America (25% of Core Reckitt Q3 net revenues)
· North America net revenue grew +1.3% on a LFL basis in the quarter to £658m, with +2.3% volume growth and -1.0% price / mix decline.
· Outside of our seasonal OTC brands we delivered mid single digit LFL net revenue growth in Q3.
· Non-seasonal growth was driven by Lysol’s positive momentum across its broadened portfolio (including Lysol Air Sanitiser and Laundry Sanitiser extensions) and core disinefection segments, a resilient performance in Finish, and a good performance in Neuriva.
· In seasonal OTC brands, predominantly Mucinex and Delsym, LFL net revenue declined mid single digit due to double-digit category declines as the category lapped a Covid spike in Q3 2024.
· The Mucinex Sinus PE-free formulation we transitioned landed as anticipated, positioning the brand well for the upcoming cold and flu season.
· YTD North America net revenue declined -0.7% on a LFL basis.
| Q3 2025 | Net revenue(£m) | Volume | Price / Mix | LFL 1 | Net M&A | FX | IFRS |
| Self-Care | 859 | +1.2% | +4.4% | +5.6% | 0.0% | -1.7% | 3.9% |
| Germ Protection | 838 | +8.2% | +1.0% | +9.2% | 0.0% | -4.6% | +4.6% |
| Household Care | 531 | 0.0% | +0.2% | +0.2% | 0.0% | -0.2% | 0.0% |
| Intimate Wellness | 375 | +2.6% | +10.9% | +13.5% | -1.0% | -1.9% | +10.6% |
| Core Reckitt | 2,603 | +3.4% | +3.3% | +6.7% | -0.1% | -2.4% | +4.2% |
| YTD 2025 | Net revenue(£m) | Volume | Price / Mix | LFL 1 | Net M&A | FX | IFRS |
| Self-Care | 2,412 | -3.0% | +3.8% | +0.8% | -0.5% | -2.6% | -2.3% |
| Germ Protection | 2,414 | +7.1% | +1.3% | +8.4% | 0.0% | -4.3% | +4.1% |
| Household Care | 1,634 | -0.3% | +1.5 % | +1.2% | 0.0% | -3.2% | -2.0% |
| Intimate Wellness | 1,149 | +5.6% | +7.9% | +13.5% | -0.7% | -3.0% | +9.8% |
| Core Reckitt | 7,609 | +1.9% | +3.1% | +5.0% | -0.3% | -3.3% | +1.4% |
1. Adjusted and Non-GAAP measures are defined on page 8.
Core Reckitt (72% of Group Q3 net revenue)
· Self Care
o Net revenue grew +5.6% on a LFL basis to £859m in the quarter, with volume of +1.2% and price / mix of +4.4%.
o Excluding seasonal OTC, Self Care delivered net revenue growth +12.3% on a LFL basis in the quarter, led by strong growth in our VMS portfolio, particularly in China, and supported by Gaviscon activation and positive Nurofen shipment phasing in Europe.
o Seasonal OTC brands (including Mucinex and Strepsils) declined -3.4% on a LFL basis in Q3, predominantly in North America as we lapped a Covid spike in Q3 2024.
o YTD Self Care net revenue grew by +0.8% on a LFL basis, with growth of +6.5% excluding seasonal OTC. Seasonal OTC declined -7.8%.
· Germ Protection
o Net revenue grew +9.2% on a LFL basis to £838m in the quarter, with volume of +8.2% and price / mix of +1.0%.
o Dettol grew double-digit in the quarter, with strong Emerging Markets volume-led growth particularly in China (driven by innovation launches and go to market excellence), India and our Middle East, North Africa, Russia and Pakistan region (“MENARP”).
o Lysol delivered high single digit volume-led growth in North America including Lysol Laundry Sanitiser and Lysol Air Sanitiser continuing to expand the brand.
o Harpic’s performance was flat in Q3, with growth across Emerging Markets (predominantly in the brand’s largest market of India) while LFL net revenue declined in Europe.
o YTD Germ Protection net revenue grew by +8.4% on a LFL basis.
· Household Care
o Net revenue grew +0.2% on a LFL basis to £531m in the quarter, with volume of 0.0% and price / mix of +0.2%.
o Finish grew low single digit in Q3 within Emerging Markets (growth was strongest in our MENARP region), with a resilient performance in North America offset by a more challenging environment in Europe.
o In Vanish, Emerging Markets grew mid single digit with a mid single digit decline in Europe.
o YTD Household Care net revenue grew by +1.2% on a LFL basis.
· Intimate Wellness
o Net revenue grew +13.5% on a LFL basis to £375m in the quarter, with volume of +2.6% and price / mix of +10.9%.
o Durex grew strongly across Emerging Markets, led by China where the strength of the brand and recent innovations have continued to drive positive price / mix and share gains. Durex also grew strongly in ASEAN and MENARP, with the GST regime implementation in India tempering sell in growth in Q3.
o In Europe, Durex growth accelerated to mid single digit in Q3 with the launch of Durex Intensity across a number of markets driving overall category share growth.
o Veet grew strongly in China and MENARP in the quarter in Emerging Markets, with mid single digit growth across Europe.
o Intima has continued to resonate strongly with Chinese consumers and delivered another quarter of very strong growth, with the brand more than doubling LFL net revenue in 2025 YTD.
o YTD Intimate Wellness net revenue grew by +13.5% on a LFL basis.
non-Core segments
Mead Johnson Nutrition (15% of Group Q3 net revenue)
| Net Revenue | £m | Volume | Price / Mix | LFL1 | Net M&A | FX | IFRS |
| Q3 2025 | 529 | +12.4% | +9.6% | +22.0% | -0.5% | -2.6% | +18.9% |
| Net Revenue | £m | Volume | Price / Mix | LFL1 | Net M&A | FX | IFRS |
| YTD 2025 | 1,592 | -1.6% | +5.6% | +4.0% | +0.2% | -4.2% | 0.0% |
Mead Johnson Nutrition
· Net revenue grew +22.0% on a LFL basis to £529m in the quarter, with volume increase of +12.4% and price / mix of +9.6%.
· Q3 net revenue last year was significantly impacted by the Mount Vernon tornado which destroyed Mead Johnson’s primary U.S. warehouse on 9 July 2024.
· In Q3 2025, alongside the recovery in the North American business, Mead Johnson’s international business grew low single digit.
· For 2025 YTD Mead Johnson Nutrition net revenue grew +4.0% on a LFL basis.
Essential Home (13% of Group Q3 net revenue)
| Net Revenue | £m | Volume | Price / Mix | LFL1 | Net M&A | FX | IFRS |
| Q3 2025 | 479 | +0.6% | -5.5% | -4.9% | +0.3% | -1.8% | -6.4% |
| Net Revenue | £m | Volume | Price / Mix | LFL1 | Net M&A | FX | IFRS |
| YTD 2025 | 1,390 | -3.1% | -2.9% | -6.0% | +1.0% | -4.0% | -9.0% |
Essential Home
· Net revenue declined -4.9% on a LFL basis to £479m in the quarter, reflecting a volume growth of +0.6% and a price / mix impact of -5.5%.
· Essential Home’s European business is delivering as expected, however, performance continues to be significantly impacted by a weak Brazil pest category as it laps the prior season and softness in the U.S. Air Care category.
· For 2025 YTD Essential Home net revenue declined -6.0% on a LFL basis.
Further information
Presentation and Q&A for investors and analysts
We will be hosting a live webcast followed by a Q&A session for analysts and investors at 08:30 (BST) on Wednesday 22 October 2025 at https://www.reckitt.com/investors/results-and-presentations/
To participate in the Q&A, dial in details are as follows:
United Kingdom: (020) 3481 4247
United States: (646) 307-1963
Other locations: +1 (646) 307-1963
Conference access code: 89743
Analysts and investors wanting to participate in the Q&A can do so via the webcast or on the conference call using the instructions above.
