全球消费品行业-全球消费类商品：供管理层参考的900个问题

CORE Barclays Capital Inc. and/or one of its affiliates does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision. This research report has been prepared in whole or in part by equity research analysts based outside the US who are not registered/qualified as research analysts with FINRA. PLEASE SEE ANALYST CERTIFICATION(S) AND IMPORTANT DISCLOSURES BEGINNING ON PAGE 67. Equity Research 8 June 2022 Restricted - Internal Global Consumer Staples ~900 questions for management In this report, we publish our latest questions for European and US Consumer Staples and Luxury Goods management teams at the end of the Q1 reporting season and ahead of upcoming industry and broker conferences. As interactions with companies step up over the coming weeks, we take the opportunity to set out our key questions. As usual we have grouped them in the same format, 15 questions for each company split between – strategic, operational and financial questions. For each of the 58 companies we include, the questions are presented in the same format for ease of use. Please refer to the contents for the companies that you are interested in. Compared to our previous publications this time we have also included questions for all our Luxury Goods coverage plus questions for DSM, Novozymes, Givaudan and Symrise. If you would like us to add additional companies, please do get in touch. For further detail on the sectors and stocks, below are the links to the recent publications and subsector initiation reports across Beverages, Food, Food Ingredients, HPC, Luxury, Cannabis and Global Tobacco. Key sector publications:  European Staples - The Healthy Consumer Iain Simpson – 31st May 22  Global Consumer Staples - Talk to me about elasticities 26th May 22  European Staples – EU Staples accounting quality revisited 22 April 22  Global Consumer Staples: CAGNY '22: Getting Back to Business 28 Feb 22 Subsector Initiation Reports:  European Consumer Staples - Fishing for sustainable returns 27 Sep 21  European Luxury Goods: Buying time 21 Sep 21  Global Consumer Ingredients: Ingredients for outperformance, 18 Nov 20  European Beverages: Identifying global premium growth, 1 Apr 19  European Food Producers: Disrupting the disrupters, 9 Apr 19  European HPC: The search for sustainable growth, 25 Mar 19  Tobacco: Accelerating disruption, uncertain regulation, 23 May 19  Global Cannabis: Slow Burn Toward Legalization, 3 Apr 19 INDUSTRY UPDATE European Consumer Staples NEUTRAL Unchanged European Luxury Goods POSITIVE Unchanged U.S. CHPC & Beverages NEUTRAL Unchanged U.S. Food NEUTRAL Unchanged European Consumer Staples Warren Ackerman +44 (0)20 3134 1903 warren.ackerman@barclays.com Barclays, UK Laurence Whyatt +44 (0)20 777