[6-K] Haleon plc American Current Report (Foreign Issuer)

Rhea-AI Filing Summary

Haleon plc (NYSE/LSE: HLN) has released unaudited historic pro-forma financials that restate 2023-2025 revenue under a new six-category reporting framework. The change, first signalled at the 1 May 2025 Capital Markets Day, splits the former “Digestive Health & Other” segment into two lines—Digestive Health and Therapeutic Skin Health & Other—and moves the Smokers Health franchise into Respiratory Health. Beginning with the Half-Year results on 31 July 2025, Haleon will report:

• Oral Health
• Vitamins, Minerals & Supplements (VMS)
• Pain Relief
• Respiratory Health
• Digestive Health
• Therapeutic Skin Health & Other

Key restated figures (FY 2024 vs FY 2023):

• Total revenue £11.23 bn, down 0.6%; organic revenue growth +5.0%
• Oral Health £3.31 bn (+5.6% reported, +9.6% organic) – strongest absolute contributor
• VMS £1.70 bn (+3.4% reported, +7.6% organic) – solid rebound from 0.9% organic in 2023
• Pain Relief £2.56 bn (-3.3% reported, +0.1% organic) – softness after 7.4% organic in 2023
• Respiratory Health £2.12 bn (-5.4% reported, +1.0% organic) – lapping strong 2023 cold/flu season
• Digestive Health £1.03 bn (+1.7% reported, +5.5% organic)
• Therapeutic Skin Health & Other £0.51 bn (-17.5% reported, +9.8% organic) – large FX/disposal drag

Q1 2025 restated revenue shows modest momentum: total £2.85 bn (-2.3% reported, +3.5% organic) with Oral Health (+3.0% reported) and Pain Relief (-0.2% reported, +2.6% organic) leading. Geographical splits are unchanged and no guidance is updated in this filing.

The recast enhances transparency around category-level trends and is intended to align external reporting with strategic growth priorities ahead of Haleon’s first standalone medium-term targets expected at H1 results.

Positive

• Enhanced transparency: six-category structure will allow investors to track performance of specific franchises more granularly.
• Robust organic growth in FY 2024 (+5.0%) and Q1 2025 (+3.5%) despite currency headwinds indicates underlying demand resilience.
• Oral Health leadership: category delivered £3.31 bn revenue and 9.6% organic growth in 2024, reinforcing Haleon’s core competitive advantage.

Negative

• Reported revenue declined 0.6% in 2024 and 2.3% in Q1 2025, which may weigh on headline sentiment until FX headwinds abate.
• Pain Relief and Respiratory softness: both categories posted negative reported growth in 2024 (-3.3% and -5.4% respectively).
• Therapeutic Skin Health & Other contracted sharply (-17.5% reported) signalling potential portfolio challenges in that segment.

Insights

Financial Analyst

TL;DR: Category reshuffle improves transparency; fundamentals unchanged; 2024 organic growth solid but reported declines highlight FX and lapping effects.

The filing is largely administrative. By disaggregating Digestive Health and relocating Smokers Health, management is offering investors clearer visibility into brands and end-markets, which should aid peer benchmarking and capital allocation discussions. Importantly, the restatement shows that the underlying organic trajectory (+5.0% 2024, +3.5% Q1-25) is healthier than headline reported sales (-0.6%, -2.3%) distorted by currency and portfolio movements. Oral Health continues to outperform, underscoring the strength of Sensodyne/Parodontax globally, while Pain Relief and Respiratory are normalising post-pandemic. No margin, cash-flow or guidance data is provided, so the impact on valuation is limited for now.

Portfolio Manager

TL;DR: Neutral event; segmentation aids diligence but doesn’t change earnings power or near-term investment thesis.

Investors gain a cleaner lens on growth vectors, but the aggregate numbers remain exactly as previously disclosed. The modest decline in reported sales and pockets of weakness (Therapeutic Skin, Respiratory) temper enthusiasm, yet high-single-digit organic gains in flagship Oral Health are encouraging. Because no new earnings or cash guidance accompanies the restatement, I view the filing as informational rather than catalytic. Impactful only if future disclosures leverage this format to reveal differentiated profitability by category.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of July 2025

Commission File Number: 001-41411

Haleon plc

(Translation of registrant’s name into English)

Building 5, First Floor, The Heights,

Weybridge, Surrey, KT13 0NY

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F ☒ Form 40-F ☐

EXHIBIT INDEX

Exhibit Number	Description
99.1	07 July 2025 - “Historic Proforma Category Financial Performance”

99.1

Haleon plc: Historic Proforma Category Financial Performance

7 July 2025: Haleon plc (the "Company" or "Haleon") today releases the historical proforma category financial information, aligned with the announcement at the Capital Markets Day on 1 May 2025. Haleon will now be reporting six categories: Oral Health; Vitamins, Minerals, and Supplements (VMS); Pain Relief; Respiratory Health; Digestive Health; and Therapeutic Skin Health and Other.

Compared to previous reporting, the new structure:

●	Splits out Digestive Health & Other into Digestive Health, and Therapeutic Skin Health and Other
●	Smokers Health which had previously been reported as part of Digestive Health and Other will now be included in Respiratory Health
●	There are no changes to other categories not outlined above

We will begin reporting in this new category structure at our 2025 Half Year Results on 31 July 2025. The purpose of this change is to better align Haleon's reporting with the strategic opportunities ahead as well as improve visibility of Haleon's financial performance. Haleon's geographical split remains unchanged.

Detailed below is the quarterly pro-forma actual and comparative financial information on this basis. Definitions for non-IFRS measures can be found on pages 19-27 in Haleon's 2024 Full Year Results, and pages 43-50 in Haleon's Annual Report and Form 20-F 2024.

Restated FY 2023 and FY 2024 reported revenue, organic revenue growth, and reported revenue growth by category (unaudited)
	2023				2024
	£m revenue	Organic Revenue Growth	Reported Revenue Growth		£m revenue	Organic Revenue Growth	Reported Revenue Growth
Oral Health	3,136	10.6%	6.1%		3,312	9.6%	5.6%
VMS	1,640	0.9%	-2.1%		1,696	7.6%	3.4%
Pain Relief	2,652	7.4%	4.0%		2,564	0.1%	-3.3%
Respiratory Health	2,244	11.7%	8.2%		2,122	1.0%	-5.4%
Digestive Health	1,012	5.8%	1.9%		1,029	5.5%	1.7%
Therapeutic Skin Health and Other	618	8.8%	1.5%		510	9.8%	-17.5%
TOTAL	11,302	8.0%	4.1%		11,233	5.0%	-0.6%

Restated quarterly reported revenue by category (unaudited)
	2023						2024						2025
£m	Q1	Q2	Q3	Q4	FY		Q1	Q2	Q3	Q4	FY		Q1
Oral Health	811	778	790	757	3,136		854	829	810	819	3,312		880
VMS	405	411	410	414	1,640		422	435	407	432	1,696		416
Pain Relief	724	681	636	611	2,652		662	641	628	633	2,564		661
Respiratory Health	638	455	563	588	2,244		590	454	581	497	2,122		525
Digestive Health	259	256	234	263	1,012		256	264	239	270	1,029		254
Therapeutic Skin Health and Other	149	171	165	133	618		135	152	115	108	510		117
TOTAL	2,986	2,752	2,798	2,766	11,302		2,919	2,775	2,780	2,759	11,233		2,853

Restated quarterly organic revenue growth by category (unaudited)
	2023		2024						2025
%	FY		Q1	Q2	Q3	Q4	FY		Q1
Oral Health	10.6%		10.6%	9.1%	8.2%	10.6%	9.6%		6.6%
VMS	0.9%		9.9%	8.5%	3.7%	8.2%	7.6%		0.9%
Pain Relief	7.4%		-4.8%	-4.0%	3.1%	7.4%	0.1%		2.6%
Respiratory Health	11.7%		-2.7%	1.3%	8.2%	-2.6%	1.0%		0.7%
Digestive Health	5.8%		2.2%	5.2%	9.0%	5.8%	5.5%		2.3%
Therapeutic Skin Health and Other	8.8%		7.4%	10.7%	0.7%	24.2%	9.8%		10.4%
TOTAL	8.0%		3.0%	4.1%	6.1%	6.8%	5.0%		3.5%

Restated quarterly reported revenue growth by category (unaudited)
	2023		2024						2025
%	FY		Q1	Q2	Q3	Q4	FY		Q1
Oral Health	6.1%		5.3%	6.6%	2.5%	8.2%	5.6%		3.0%
VMS	-2.1%		4.2%	5.8%	-0.7%	4.3%	3.4%		-1.4%
Pain Relief	4.0%		-8.6%	-5.9%	-1.3%	3.6%	-3.3%		-0.2%
Respiratory Health	8.2%		-7.5%	-0.2%	3.2%	-15.5%	-5.4%		-11.0%
Digestive Health	1.9%		-1.2%	3.1%	2.1%	2.7%	1.7%		-0.8%
Therapeutic Skin Health and Other	1.5%		-9.4%	-11.1%	-30.3%	-18.8%	-17.5%		-13.3%
TOTAL	4.1%		-2.2%	0.8%	-0.6%	-0.3%	-0.6%		-2.3%

Enquiries

Investors		Media
Jo Russell	+44 7787 392441	Zoë Bird	+44 7736 746167
Rakesh Patel	+44 7552 484646	Victoria Durman	+44 7894 505730
Emma White	+44 7823 523562
Email: investor-relations@haleon.com		Email: corporate.media@haleon.com

About Haleon

Haleon (LSE/NYSE: HLN) is a global leader in consumer health, with a purpose to deliver better everyday health with humanity. Haleon's product portfolio spans six major categories - Oral Health, Vitamins, Minerals and Supplements (VMS), Pain Relief, Respiratory Health, Digestive Health and Therapeutic Skin Health and Other. Its long-standing brands - such as Advil, Centrum, Otrivin, Panadol, parodontax, Polident, Sensodyne, Theraflu and Voltaren - are built on trusted science, innovation and deep human understanding.

For more information, please visit www.haleon.com.

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.

		HALEON PLC (Registrant)
Date: July 07, 2025	By:	/s/ Amanda Mellor
		Name:	Amanda Mellor
		Title:	Company Secretary

FAQ

Why is Haleon (HLN) changing its reporting categories?

The company says the six-category structure better aligns with strategic priorities and offers improved visibility into financial performance.

When will the new category reporting take effect for HLN?

Haleon will adopt the new segmentation with its 2025 Half-Year Results scheduled for 31 July 2025.

What is Haleon’s restated total revenue for FY 2024?

Under the new structure, FY 2024 revenue is £11.23 billion, a 0.6% reported decline year on year.

Which category showed the strongest organic growth in 2024 for HLN?

Oral Health led with 9.6% organic growth on £3.31 bn revenue.

How did HLN’s Pain Relief segment perform in 2024?

Pain Relief posted £2.56 bn revenue, -3.3% reported growth and +0.1% organic growth, reflecting a post-COVID normalisation.