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Highlights

  • Core Reckitt delivers 3.1% like-for-like net revenue growth, led by double-digit gains in Intimate Wellness and Germ Protection.

  • Emerging Markets shine, with 10.7% LFL revenue growth and volume expansion in China and India.

  • Company maintains FY 2025 outlook, targeting Group revenue growth of 2%–4%, supported by innovation and the Fuel for Growth programme.

Reckitt Benckiser Group PLC reported a resilient performance in the first quarter of 2025, with like-for-like (LFL) net revenue for Core Reckitt increasing by 3.1%. This growth was primarily fuelled by a performance from its Powerbrands, notably Germ Protection (up 7.5%) and Intimate Wellness (up 16.6%), alongside gains in market share and improved execution.

Volume growth in Core Reckitt came in at 0.3%, underpinned by robust demand in Emerging Markets, which delivered a standout LFL net revenue increase of 10.7%. The company saw double-digit growth in China and high single-digit gains in India.

In Europe, Reckitt reported market share gains despite softer demand, with LFL net revenue declining 1.7% as the company lapped shipment volumes from the prior year. Meanwhile, North America remained under pressure, recording a 0.9% LFL revenue decline amid macroeconomic volatility and fading consumer confidence. However, innovation in products such as Lysol Laundry and Air Sanitizer, as well as Durex's new launches, contributed to share gains in the region.

On the innovation front, Reckitt continues to invest in category-driving products. New introductions like Durex Hyaluronic Acid condoms in China and first-to-world Durex Nitrile condoms in Europe exemplify the company’s focus on differentiation and value creation through science-led innovation. .

Reckitt also provided updates on its strategic initiatives. The Fuel for Growth programme remains on track to achieve a 19% fixed cost base by 2027, with its Generative AI rollout expanding from marketing into R&D. The company also reaffirmed plans to divest its Essential Home business in 2025, though it acknowledged that market conditions could impact the timeline.

The £1 billion share buyback programme remains active, with £815 million worth of shares repurchased as of mid-April 2025.

Looking ahead, Reckitt maintained its full-year 2025 guidance, projecting 3% to 4% LFL net revenue growth in Core Reckitt. Growth in Q2 is expected to be led by Emerging Markets, while North America is anticipated to return to growth in the second half of the year. Group-wide, LFL revenue growth is forecast between 2% and 4%, with H2 performance from Essential Home and Mead Johnson Nutrition expected to offset early-year softness.