External Business Partners:
P&G released its Q1 earnings for FY22/23 on Wednesday, October 19, 2022. Despite a continued challenging cost and operating environment, P&G was able to deliver good results to begin our fiscal year. The execution of our integrated strategies enabled our ability to grow organic sales in all ten categories. Organic sales were up 6% in North America and up double digits in each Enterprise Market region. Here is a summary of our results:
We know that we will continue to operate in a highly dynamic environment, with further cost, currencies and supply chain volatility. The past 24+ months have proven that staying focused on the execution of our integrated growth strategies is our best path forward. This strategy has enabled us to operate and win during extremely challenging periods, and it forms the foundation for balanced growth and value creation. Moving forward, we must strengthen the execution of these strategies by doubling down on our productivity efforts. Productivity fuels our innovation pipeline that ultimately translates into superior offerings for our consumers and customers. All of you, our External Business Partners, are key enablers on this journey – together, we have the power to deliver sustained value creation that allows us to better serve consumers around the world. As always, I thank you for everything you’ve done, and I count on your partnership to embrace these challenges as an opportunity to win together.
Additionally, because its Cybersecurity Awareness Month, I wanted to briefly touch on the importance of remaining ever vigilant in the cybersecurity space. As you know, Cybersecurity threats keep increasing and thus require continued and higher attention than ever before. Manufacturing has become one of the most targeted industries, which involves many of you. Therefore, we trust that you are taking proactive actions to improve your info security posture, to both protect your own enterprises and our partnership.
Based on the type of service you provide us, we may request to run an Information Security assessment to ensure the right structures and processes are in place to secure our business operations. These assessments may be performed directly by P&G or via selected 3rd party assessors. As a result, we ask for your support of these efforts as our partnership continues to evolve on this front, and we are grateful for your active engagement when contacted by members of our teams seeking to improve the areas of access and identify management for our systems. It is up to all of us to keep each other protected against these nefarious actors seeking to disrupt businesses and industries.
In closing, I want to thank, once again you for your partnership and your relentless efforts to support the totality of our business.
Chief Purchasing Officer
*See https://www.pginvestor.com/event for P&G's full Q122/23 earnings release issued October 19, 2022, the associated webcast presentation, definitions of non-GAAP measures and reconciliation to the most closely related GAAP measure, as well as cautionary information on forward-looking statements, which are based on current assumptions and subject to risks and uncertainties that may cause actual results to differ materially.