The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Laurence Bruce Whyatt - Barclays Bank PLC, Research Division - Analyst
: Three also for me. You mentioned in response to one of the previous questions that the structure costs were flattish on average over the past 3
years, and that shows your discipline, and you also mentioned structure cost discipline in your prepared remarks. Should we assume that going
forward, that discipline will remain and we shouldn't really expect to see an increase in structure costs across that -- across your part of the business?
My first question.
Secondly, you mentioned in the prepared remarks your innovation hub, but I was wondering if you could give us a bit more information on how
that works and what sort of data goes into driving which innovations are made and which ones are left on the drawing room floor? And finally, in
your remarks, you mentioned that you increased the number of women in Band C and above roles from 19% in 2018 to 30% in 2021. And I was
wondering if you could let us know what policies or procedures that you put in place that really drove that change?
Question: Javier Gonzalez-Lastra - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: A couple of questions on my side. First one on margins. Sorry to insist on this one. you've shown a very strong performance through the pandemic
on the margins of the European business, the 400 bps you alluded in the presentation. You've mentioned structured costs are a big driver behind
that. But I just wonder, is this a permanent new base from where you expect to grow? Or would it be reasonable to expect some of that -- those
gains to be reversed or given back as marketing investments increase in the post-COVID environment? My second question is on Lillet. I just wonder
if you could talk a little bit about the success of the brand, not only in Germany, but in other markets and how exportable is that brand to most of
the other European markets? And how successful is the brand at taking share from the big spirits players, Aperol?
And lastly, I was curious to understand or learn the reason behind or the reason why Ireland and France are outside the scope of the EMEA division?
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Question: Javier Gonzalez-Lastra - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: Yes. Just a quick follow-up on Lillet. Is the brand successful at gaining share from the market leader from Aperol spirits? Or if you could give us a
flavor as to the areas of the market where it's sourcing the market share? And then the third question...
Question: Javier Gonzalez-Lastra - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: Yes. The third question was the Ireland and France. The reason why those 2 markets are not part of the scope of EMEA?
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