Unilever PLC 6-K, filed Apr 25, 2024
Unilever PLC (UL)
6-K
2024-04-25
For: 2024-04-25
View Original
Added on
April 09, 2026
About this 6-K
Unilever PLC filed this 6-K on April 25, 2024.
|
|
FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
REPORT OF FOREIGN ISSUER
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
Dated April
25, 2024
Commission
File Number: 001-04546
UNILEVER PLC
(Translation
of registrant's name into English)
UNILEVER HOUSE, BLACKFRIARS, LONDON, ENGLAND
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual
reports
under
cover Form 20-F or Form 40-F.
Form
20-F..X.. Form 40-F
Indicate
by check mark if the registrant is submitting the Form 6-K in
paper
as
permitted by Regulation S-T Rule 101(b)(1):_____
Indicate
by check mark if the registrant is submitting the Form 6-K in
paper
as
permitted by Regulation S-T Rule 101(b)(7):_____
Indicate
by check mark whether the registrant by furnishing the
information
contained
in this Form is also thereby furnishing the information to
the
Commission
pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.
Yes
No .X..
If
"Yes" is marked, indicate below the file number assigned to the
registrant
in
connection with Rule 12g3-2(b): 82- _______
Exhibit
99 attached hereto is incorporated herein by
reference.
Signatures
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.
|
UNILEVER
PLC
|
|
|
|
|
|
|
|
/S/ M VARSELLONA
|
|
BY M VARSELLONA
|
|
CHIEF LEGAL OFFICER AND GROUP SECRETARY
|
Date:
25 April, 2024
EXHIBIT INDEX
------------------------
|
EXHIBIT
NUMBER
|
EXHIBIT
DESCRIPTION
|
|
99
|
Notice
to London Stock Exchange dated 25 April 2024
|
|
|
Q1 2024
Trading Statement
|
Exhibit
99
|
Unilever
Trading Statement - First Quarter 2024
|
|
Improved
volume growth led by Power Brands
|
|
|
First
Quarter 2024
|
||
|
(unaudited)
|
USG
|
Turnover
|
vs
2023
|
|
Unilever
|
4.4%
|
€15.0bn
|
1.4%
|
|
Beauty
& Wellbeing
|
7.4%
|
€3.2bn
|
3.1%
|
|
Personal
Care
|
4.8%
|
€3.4bn
|
0.4%
|
|
Home
Care
|
3.1%
|
€3.2bn
|
0.6%
|
|
Nutrition
|
3.7%
|
€3.4bn
|
1.1%
|
|
Ice
Cream
|
2.3%
|
€1.8bn
|
2.7%
|
First Quarter highlights
● Underlying
sales growth of 4.4%, with volume growth increasing to
2.2%
● All
five Business Groups reporting underlying sales growth, led by
Beauty & Wellbeing
● Turnover
increased 1.4% to €15.0 billion with
(2.0)% impact from currency and (0.9)% from net
disposals
● Power
Brands (75%
of turnover) leading growth with 6.1%
USG, driven by a 3.8% increase in volume
● Announced
separation of Ice Cream and launch of major productivity
programme to
accelerate the Growth Action Plan
● 2024
outlook unchanged with
underlying sales growth of 3% to 5% and a modest improvement in
underlying operating margin
Chief Executive Officer statement
"Unilever delivered improved volume growth in the first quarter.
This was driven by our Power Brands which saw underlying sales
growth of 6.1%, with strong performances from Dove, Knorr, Rexona
and Sunsilk.
We are implementing the Growth Action Plan at speed, focused on
three clear priorities: delivering higher-quality growth, creating
a simpler and more productive business, and embedding a strong
performance focus. This is underpinned by our commitment to do
fewer things, better and with greater impact.
In March, we announced the separation of Ice Cream and the launch
of a comprehensive productivity programme. These actions will drive
focus, faster growth and reduce costs. Dedicated project teams are
progressing the work at pace.
Unilever's transformation is at an early stage, but we have
increasing confidence in our ability to deliver sustained volume
growth and positive mix as we accelerate gross margin
expansion."
Hein Schumacher
|
Outlook
|
Our 2024 guidance is unchanged. We expect underlying sales growth
(USG) for 2024 to be within our multi-year range of 3% to 5%, with
an increasing contribution from volume growth.
We are confident of delivering a modest improvement in underlying
operating margin for the full year, reflecting higher gross margin
and increased investment behind our brands.
|
First
Quarter Review: Unilever Group
|
|
(unaudited)
|
Turnover
|
USG
|
UVG
|
UPG
|
Acquisitions
|
Disposals
|
Currency
|
Turnover
change
|
|
First
Quarter
|
€15.0bn
|
4.4%
|
2.2%
|
2.2%
|
0.4%
|
(1.3)%
|
(2.0)%
|
1.4%
|
Performance
Underlying sales growth in the quarter was 4.4%, with balanced
volume and price growth. Underlying volume growth increased to 2.2%
from 1.8% in Q4 2023, while underlying price growth of 2.2%
moderated slightly from 2.8% in the previous quarter. The Power
Brands continued to perform strongly with 6.1% underlying sales
growth, underpinned by volume growth of 3.8%.
Beauty & Wellbeing grew underlying sales by 7.4%, with volume
growth of 5.6% driven by continued double-digit growth from Health
& Wellbeing and Prestige Beauty. Personal Care grew 4.8% with
1.4% from volume despite a particularly strong prior year
comparator. Home Care underlying sales increased 3.1%, with 4.3%
volume growth more than offsetting the negative price growth
reflecting commodity cost driven deflation in some of our markets.
Nutrition grew underlying sales by 3.7%, with volumes sequentially
improving to (0.4)% from (1.1)% in Q4. Ice Cream grew 2.3%, led by
price as volumes declined (0.9)%. As we move into the main ice
cream season, Ice Cream's performance will be supported by the
operational changes that have been made to drive improved
productivity, product rationalisation and investment behind
significant innovations.
Emerging markets grew underlying sales 5.4%, with 3.9% from volume.
Latin America, Turkey and Africa continued their momentum from 2023
and delivered strong sales growth with positive volumes. Sales in
China grew mid-single digit with good volumes, particularly in
Unilever Food Solutions. South Asia growth was driven by volume,
while input cost deflation led to further negative price growth in
India. South East Asia was impacted by a sales decline in
Indonesia, reflecting the continued, but less material, impact of
some Indonesian consumers avoiding multinational brands in response
to the geopolitical situation in the Middle East.
Underlying sales in developed markets grew 3.0%, with volumes
almost flat at (0.3)%. North America delivered sales growth of
3.6%, with positive volume growth at 1.4% driven by continued
strong performances of Health & Wellbeing and Prestige Beauty.
In Europe, underlying sales growth was 4.0%, driven by price.
Volume declined 1.5%, but sequentially improved with a return to
volume growth in the United Kingdom, France and Eastern Europe, as
price growth continued to moderate from the peak in Q2
2023.
Turnover was €15.0 billion, up 1.4% versus the prior year,
including (2.0)% from currency and (0.9)% from disposals net of
acquisitions.
Capital allocation
With our full year results in February 2024, we announced that the
Board had approved a share buyback programme of up to €1.5
billion to be conducted during 2024, which we expect to commence in
the second quarter. The quarterly interim dividend for the first
quarter is maintained at €0.4268.
|
Conference
Call
|
Following the release of this trading statement on 25 April 2024 at
7:00 AM (UK time), there will be a webcast at 8:00 AM available on
the website
www.unilever.com/investor-relations/results-and-presentations/latest-results.
A replay of the webcast and the slides of the presentation will be
made available after the live meeting.
|
First
Quarter Review: Business Groups
|
|
|
First
Quarter 2024
|
|||
|
(unaudited)
|
Turnover
|
USG
|
UVG
|
UPG
|
|
Unilever
|
€15.0bn
|
4.4%
|
2.2%
|
2.2%
|
|
Beauty
& Wellbeing
|
€3.2bn
|
7.4%
|
5.6%
|
1.7%
|
|
Personal
Care
|
€3.4bn
|
4.8%
|
1.4%
|
3.4%
|
|
Home
Care
|
€3.2bn
|
3.1%
|
4.3%
|
(1.1)%
|
|
Nutrition
|
€3.4bn
|
3.7%
|
(0.4)%
|
4.1%
|
|
Ice
Cream
|
€1.8bn
|
2.3%
|
(0.9)%
|
3.2%
|
Beauty & Wellbeing (21%
of Q1 Group turnover)
In Beauty & Wellbeing, we are focused on three key priorities
that will drive the unmissable superiority of our brands: elevating
our core Hair Care and Skin Care brands to increase premiumisation;
fuelling the growth of Prestige Beauty and Health & Wellbeing
with selective international expansion; and continuing to
strengthen our beauty and wellbeing capabilities.
|
(unaudited)
|
Turnover
|
USG
|
UVG
|
UPG
|
Acquisitions
|
Disposals
|
Currency
|
Turnover
change
|
|
First
Quarter
|
€3.2bn
|
7.4%
|
5.6%
|
1.7%
|
0.8%
|
(2.5)%
|
(2.3)%
|
3.1%
|
Beauty & Wellbeing underlying sales grew 7.4% with 5.6% from
volume and 1.7% from price.
Hair Care delivered mid-single digit growth with positive volume
and price. Dove grew high-single digit supported by the
launch of Scalp+ Hair Therapy, which is clinically proven to create
optimal scalp health and hair density. Clear, the world's best-selling shampoo for men, grew
high-single digit helped by the continued rollout of our patented
anti-dandruff shampoo. Sunsilk grew double-digit
while TRESemmé grew
high-single digit and continued to expand its ultra-gloss Lamellar
Shine shampoos and conditioners to new markets.
Core Skin Care grew mid-single digit with good growth in India and
the United States. This growth was partially offset by a low-single
digit decline in North Asia driven by
price. Vaseline grew double-digit with the successful
rollout of Gluta Hya body care to new markets and the launch of new
variants, including our Smooth and Glow range which offers the
first body lotion with chemical exfoliation. Following the relaunch
last year, Pond's face care continued its good momentum with
high-single digit growth led by volume.
Health & Wellbeing delivered another quarter of double-digit
growth with the expansion of Liquid IV in the United Kingdom and strong
contributions from Olly and Nutrafol. In Q1, we extended Nutrafol into skin care with a physician-formulated
daily supplement for women designed to address the root causes of
acne. Prestige Beauty grew double-digit led
by Tatcha, Hourglass and Living Proof.
Personal Care (23%
of Q1 Group turnover)
In Personal Care, we are focused on winning with science-led brands
that deliver unmissable superiority to our consumers across
Deodorants, Skin Cleansing, and Oral Care. Our priorities include
developing superior technology and multi-year innovation platforms,
leveraging partnerships with our customers, and expanding into
premium areas and digital channels.
|
(unaudited)
|
Turnover
|
USG
|
UVG
|
UPG
|
Acquisitions
|
Disposals
|
Currency
|
Turnover
change
|
|
First
Quarter
|
€3.4bn
|
4.8%
|
1.4%
|
3.4%
|
-%
|
(2.7)%
|
(1.6)%
|
0.4%
|
Personal Care underlying sales grew 4.8% with 1.4% from volume and
3.4% from price.
Deodorants grew double-digit with high-single digit volume growth.
Growth was led by strong performances in Europe and Latin
America. Dove double-digit growth was helped by the US
launch of Whole Body Deodorants with
72-hour odour control for full-body
freshness. Rexona and Axe contributed strong growth with continued
momentum of our multi-year platforms, 72-hour nonstop odour and
sweat protection and our Fine Fragrance range.
Skin Cleansing was flat with low-single digit price offset by
volume declines. Q1 growth was impacted by deflation in India and
market challenges in Indonesia. Dove grew high-single digit with mid-single digit
volume growth. In the United States, we launched a premium range
of Dove Body Wash infused with clinically proven
skin care serums including hyaluronic acid, collagen and vitamin
C.
Oral Care continued to grow mid-single digit with positive volume
and price, led by double-digit growth in Closeup.
Home Care (21%
of Q1 Group turnover)
In Home Care, we focus on delivering for consumers who want
superior products that are sustainable and great value. We drive
growth through unmissable superiority in our biggest brands, in our
key markets and across channels. We have a resilient business that
spans price points and grows the market by premiumising and trading
consumers up to additional benefits.
|
(unaudited)
|
Turnover
|
USG
|
UVG
|
UPG
|
Acquisitions
|
Disposals
|
Currency
|
Turnover
change
|
|
First
Quarter
|
€3.2bn
|
3.1%
|
4.3%
|
(1.1)%
|
-%
|
-%
|
(2.5)%
|
0.6%
|
Home Care underlying sales grew 3.1% with 4.3% from volume and
(1.1)% from price.
Fabric Cleaning grew low-single digit with mid-single digit volume
and negative price. This was led by Europe which grew high-single
digit, with a return to positive volume growth. India and Latin
America grew volume, which was partially offset by price declines
in our powders portfolio as a result of commodity
deflation. OMO grew low-single digit with mid-single digit
volume.
Home & Hygiene grew mid-single digit with mid-single digit
volume and slightly positive price. Cif and Domestos grew double-digit with strong volume.
Following the successful launch of Domestos Power Foam in the UK in 2023, we expanded
the product to new markets and extended the range to include
specialist solutions to remove limescale and provide long-lasting
fragrance.
Nutrition (23%
of Q1 Group turnover)
In Nutrition, our strategy is to deliver consistent, competitive
growth by offering unmissably superior products through our biggest
brands. We do this by reaching more consumers and focusing on top
dishes and high consumption seasons to satisfy consumer's
preferences on taste, health and sustainability; while delivering
productivity and resilience in our supply chain.
|
(unaudited)
|
Turnover
|
USG
|
UVG
|
UPG
|
Acquisitions
|
Disposals
|
Currency
|
Turnover
change
|
|
First
Quarter
|
€3.4bn
|
3.7%
|
(0.4)%
|
4.1%
|
-%
|
(0.5)%
|
(2.0)%
|
1.1%
|
Nutrition underlying sales grew 3.7% with 4.1% from price and
(0.4)% from volume. Volume sequentially improved but was still
negative in Europe, partially affected by the impact of SKU
reductions.
Dressings delivered mid-single digit growth with positive price and
volume. Hellmann's led growth supported by the relaunch of
Plant Based Mayo and the launch of 4 new variants of Flavoured
Mayo: Chipotle, Italian Herbs, Tajin, and
Truffle.
Scratch Cooking Aids grew high-single
digit. Knorr led growth as it continued to expand its
multi-year 'Eat for Good' campaign, including superior Bouillon
& Seasonings variants for both retail and foodservice. North
America grew mid-single digit supported by the launch of
ready-to-eat rice cups. Europe saw mid-single digit price growth
fully offset by a decline in volume, while Latin America, Africa
and North Asia all grew double-digit.
Unilever Food Solutions grew
double-digit with high-single digit volume, led by strong growth in
China against a soft comparator.
Ice Cream (12%
of Q1 Group turnover)
In Ice Cream, our immediate strategic priority is to expand
operating profit and global market share. We will do this by
building the unmissable superiority of our brands, accelerating
market development in emerging markets, continuing to lead the
industry on innovation and premiumisation, and by stepping up our
performance and productivity. In March, we announced the planned
separation of Ice Cream which we expect to be completed by the end
of 2025. The separation will create a world-leading business,
operating in a highly attractive category with five of the top 10
selling global ice cream brands.
|
(unaudited)
|
Turnover
|
USG
|
UVG
|
UPG
|
Acquisitions
|
Disposals
|
Currency
|
Turnover
change
|
|
First
Quarter
|
€1.8bn
|
2.3%
|
(0.9)%
|
3.2%
|
1.7%
|
-%
|
(1.4)%
|
2.7%
|
Ice Cream underlying sales grew 2.3% with 3.2% from price,
partially offset by negative volume of (0.9)%.
In-home Ice Cream was flat with price offset by a decline in
volume. Out-of-home Ice Cream grew mid-single digit driven by
price.
Wall's grew
mid-single digit with positive price and
volume. Magnum declined
low-single digit with price growth more than offset by a volume
decline. We launched a new Magnum 'Pleasure
Express' range with 3 variants: Euphoria, Wonder, and
Chill. Ben &
Jerry's and Cornetto grew
low-single digit with positive volumes.
As we move into the main summer season, Ice Cream has made
operational changes to drive improved productivity and investment
behind our brands and innovations.
|
First
Quarter Review: Geographical Areas
|
|
|
First
Quarter 2024
|
|||
|
(unaudited)
|
Turnover
|
USG
|
UVG
|
UPG
|
|
Unilever
|
€15.0bn
|
4.4%
|
2.2%
|
2.2%
|
|
Asia
Pacific Africa
|
€6.6bn
|
3.6%
|
2.4%
|
1.1%
|
|
The
Americas
|
€5.5bn
|
5.8%
|
3.9%
|
1.8%
|
|
Europe
|
€2.9bn
|
4.0%
|
(1.5)%
|
5.5%
|
|
|
First
Quarter 2024
|
|||
|
(unaudited)
|
Turnover
|
USG
|
UVG
|
UPG
|
|
Emerging
markets
|
€9.0bn
|
5.4%
|
3.9%
|
1.4%
|
|
Developed
markets
|
€6.0bn
|
3.0%
|
(0.3)%
|
3.3%
|
|
North
America
|
€3.2bn
|
3.6%
|
1.4%
|
2.2%
|
|
Latin
America
|
€2.3bn
|
9.5%
|
8.1%
|
1.3%
|
Asia Pacific Africa (44%
of Q1 Group turnover)
Underlying sales growth was 3.6% with 2.4% from volume and 1.1%
from price.
India grew 0.7% with low-single digit volume growth partially
offset by negative price. Price reductions continued, driven by
commodity deflation that primarily impacts Fabric Cleaning and Skin
Cleansing bars. China grew mid-single digit driven by volume with a
continued strong performance in our Unilever Food Solutions
business. Underlying sales in Indonesia declined (4.7)%, reflecting
the continued, but improving, impact of some Indonesian consumers
avoiding multinational brands in response to the geopolitical
situation in the Middle East.
Turkey delivered double-digit volume and price growth. Africa grew
double-digit driven by price, with good volumes.
The Americas (37%
of Q1 Group turnover)
Underlying sales grew 3.6% in North America with 2.2% from price
and 1.4% from volume. Beauty & Wellbeing delivered strong,
volume-led growth, driven by Prestige Beauty and Health &
Wellbeing. Personal Care was flat as we lapped a particularly
strong prior year comparator. Nutrition grew high-single digit led
by mid-single digit volume. Ice Cream grew low single-digit led by
volume with slightly negative price.
Underlying sales in Latin America grew 9.5% with strong volume
growth of 8.1% and 1.3% from price. Growth was broad-based across
all Business Groups, including double-digit volume growth in Beauty
& Wellbeing, Personal Care and Home Care. Brazil grew
high-single digit with double-digit volume led by strong growth in
Dressings and Deodorants. Mexico grew double-digit with all
Business Groups growing volume and price. Argentina continued to
perform well in a difficult environment, with double-digit volume
and price growth.
Europe (19%
of Q1 Group turnover)
Underlying sales grew 4.0% with 5.5% from price and (1.5)% from
volume. Home Care, Personal Care and Beauty & Wellbeing
delivered strong growth with good volume and price growth. Ice
Cream grew low-single digit led by price while Nutrition declined
low-single digit driven by negative volume. The United Kingdom,
France and Eastern Europe grew well with positive volumes while
volumes remained negative in Germany and the
Netherlands.
|
Segment
Information - Business Groups
|
|
(unaudited)
|
|
|
|
|
|
|
|
First
Quarter
|
Beauty
& Wellbeing
|
Personal
Care
|
Home
Care
|
Nutrition
|
Ice
Cream
|
Total
|
|
Turnover
(€ million)
|
|
|
|
|
|
|
|
2023
|
3,089
|
3,397
|
3,173
|
3,349
|
1,742
|
14,750
|
|
2024
|
3,187
|
3,409
|
3,191
|
3,388
|
1,788
|
14,963
|
|
Change
(%)
|
3.1
|
0.4
|
0.6
|
1.1
|
2.7
|
1.4
|
|
Impact
of:
|
|
|
|
|
|
|
|
Acquisitions
(%)
|
0.8
|
-
|
-
|
-
|
1.7
|
0.4
|
|
Disposals
(%)
|
(2.5)
|
(2.7)
|
-
|
(0.5)
|
-
|
(1.3)
|
|
Currency-related
items (%), of which:
|
(2.3)
|
(1.6)
|
(2.5)
|
(2.0)
|
(1.4)
|
(2.0)
|
|
Exchange rates changes (%)
|
(3.7)
|
(3.7)
|
(5.5)
|
(3.5)
|
(3.1)
|
(4.0)
|
|
Extreme price growth in hyperinflationary markets*
|
1.4
|
2.2
|
3.2
|
1.6
|
1.8
|
2.1
|
|
Underlying
sales growth (%)
|
7.4
|
4.8
|
3.1
|
3.7
|
2.3
|
4.4
|
|
Price*
(%)
|
1.7
|
3.4
|
(1.1)
|
4.1
|
3.2
|
2.2
|
|
Volume
(%)
|
5.6
|
1.4
|
4.3
|
(0.4)
|
(0.9)
|
2.2
|
* Underlying price growth in excess of 26% per year in
hyperinflationary economies has been excluded when calculating the
price growth in the tables above, and an equal and opposite amount
is shown as extreme price growth in hyperinflationary
markets.
Turnover growth is made up of distinct individual growth components
namely underlying sales, currency impact, acquisitions and
disposals. Turnover growth is arrived at by multiplying these
individual components on a compounded basis as there is a currency
impact on each of the other components. Accordingly, turnover
growth is more than just the sum of the individual
components.
|
Segment
Information - Geographical Areas
|
|
(unaudited)
|
|
|
|
|
|
First
Quarter
|
Asia
Pacific Africa
|
The
Americas
|
Europe
|
Total
|
|
Turnover
(€ million)
|
|
|
|
|
|
2023
|
6,793
|
5,245
|
2,712
|
14,750
|
|
2024
|
6,612
|
5,502
|
2,849
|
14,963
|
|
Change
(%)
|
(2.7)
|
4.9
|
5.1
|
1.4
|
|
Impact
of:
|
|
|
|
|
|
Acquisitions
(%)
|
-
|
1.0
|
-
|
0.4
|
|
Disposals
(%)
|
(0.3)
|
(3.2)
|
-
|
(1.3)
|
|
Currency-related
items (%), of which:
|
(5.8)
|
1.4
|
1.1
|
(2.0)
|
|
Exchange rates changes (%)
|
(7.0)
|
(2.8)
|
1.1
|
(4.0)
|
|
Extreme price growth in hyperinflationary markets*
|
1.3
|
4.2
|
-
|
2.1
|
|
Underlying
sales growth (%)
|
3.6
|
5.8
|
4.0
|
4.4
|
|
Price*
(%)
|
1.1
|
1.8
|
5.5
|
2.2
|
|
Volume
(%)
|
2.4
|
3.9
|
(1.5)
|
2.2
|
* Underlying price growth in excess of 26% per year in
hyperinflationary economies has been excluded when calculating the
price growth in the tables above, and an equal and opposite amount
is shown as extreme price growth in hyperinflationary
markets.
|
Dividends
|
The Board has declared a quarterly interim dividend for Q1 2024 of
£0.3674 per Unilever PLC ordinary share or €0.4268 per
Unilever PLC ordinary share at the applicable exchange rate issued
by WM/Reuters on 23 April 2024.
The following amounts will be paid in respect of this quarterly
interim dividend on the relevant payment date:
|
Per
Unilever PLC ordinary share (traded on the London Stock
Exchange):
|
£0.3674
|
|
Per
Unilever PLC ordinary share (traded on Euronext in
Amsterdam):
|
€0.4268
|
|
Per
Unilever PLC American Depositary Receipt:
|
US$0.4556
|
The euro and US dollar amounts above have been determined using the
applicable exchange rates issued by WM/Reuters on 23 April
2024.
US dollar cheques for the quarterly interim dividend will be mailed
on 7 June 2024 to holders of record at the close of business
on 17 May 2024.
The quarterly dividend calendar for the remainder of 2024 will be
as follows:
|
|
Announcement
Date
|
Ex-Dividend
Date
|
Record
Date
|
Payment
Date
|
|
Q1 2024
Dividend
|
25
April 2024
|
16 May
2024
|
17 May
2024
|
07 June
2024
|
|
Q2 2024
Dividend
|
25 July
2024
|
08
August 2024
|
09
August 2024
|
06
September 2024
|
|
Q3 2024
Dividend
|
24
October 2024
|
07
November 2024
|
08
November 2024
|
06
December 2024
|
|
Non -
GAAP measures
|
In our financial reporting we use certain measures that are not
defined by generally accepted accounting principles (GAAP) such as
IFRS. We believe this information, along with comparable GAAP
measurements, is useful to investors because it provides a basis
for measuring our operating performance, and our ability to retire
debt and invest in new business opportunities. Our management uses
these financial measures, along with the most directly comparable
GAAP financial measures, in evaluating our operating performance
and value creation. Non-GAAP financial measures should not be
considered in isolation from, or as a substitute for, financial
information presented in compliance with GAAP. Wherever appropriate
and practical, we provide reconciliations to relevant GAAP
measures. The non-GAAP measures used in this announcement are
underlying sales growth, underlying volume growth and underlying
price growth (see below).
Underlying sales growth (USG)
Underlying sales growth (USG) refers to the increase in turnover
for the period, excluding any change in turnover resulting from
acquisitions, disposals, changes in currency and price growth in
excess of 26% in hyperinflationary economies. Inflation of 26% per
year compounded over three years is one of the key indicators
within IAS 29 to assess whether an economy is deemed to be
hyperinflationary. We believe this measure provides valuable
additional information on the underlying sales performance of the
business and is a key measure used internally. The impact of
acquisitions and disposals is excluded from USG for a period of 12
calendar months from the applicable closing date. Turnover from
acquired brands that are launched in countries where they were not
previously sold is included in USG as such turnover is more
attributable to our existing sales and distribution network than
the acquisition itself. The reconciliation of changes in the GAAP
measure turnover to USG is provided on page 6.
Underlying price growth (UPG)
Underlying price growth (UPG) is part of USG and means, for the
applicable period, the increase in turnover attributable to changes
in prices during the period. UPG therefore excludes the impact to
USG due to (i) the volume of products sold; and (ii) the
composition of products sold during the period. In determining
changes in price we exclude the impact of price growth in excess of
26% per year in hyperinflationary economies as explained in USG
above. The measures and the related turnover GAAP measure are set
out on page 6.
Underlying volume growth (UVG)
Underlying volume growth (UVG) is part of USG and means, for the
applicable period, the increase in turnover in such period
calculated as the sum of (i) the increase in turnover attributable
to the volume of products sold; and (ii) the increase in turnover
attributable to the composition of products sold during such
period. UVG therefore excludes any impact on USG due to changes in
prices. The measures and the related turnover GAAP measure are set
out on page 6.
|
Cautionary
Statement
|
This announcement may contain forward-looking statements, including
'forward-looking statements' within the meaning of the United
States Private Securities Litigation Reform Act of 1995, concerning
the financial condition, results of operations and businesses of
the Unilever Group (the 'Group'). All statements other than
statements of historical fact are, or may be deemed to be,
forward-looking statements. Words and terminology such as 'will',
'aim', 'expects', 'anticipates', 'intends', 'looks', 'believes',
'vision', 'ambition', 'target', 'goal', 'plan', 'potential', 'work
towards', 'may', 'milestone', 'objectives', 'outlook', 'probably',
'project', 'risk', 'seek', 'continue', 'projected', 'estimate',
'achieve' or the negative of these terms, and other similar
expressions of future performance, results, actions or events, and
their negatives, are intended to identify such forward-looking
statements. Forward-looking statements also include, but are not
limited to, statements and information regarding Unilever's
acceleration of its Growth Action Plan, Unilever's portfolio
optimisation towards global or scalable brands, the capabilities
and potential of such brands, the various aspects of the separation
of Ice Cream and its future operational model, strategy, growth
potential, performance and returns, Unilever's productivity
programme, its impacts and cost savings over the next three years
and operation dis-synergies from the separation of Ice Cream, the
Group's emissions reduction targets and other climate change
related matters (including actions, potential impacts and risks
associated therewith). Forward-looking statements can be made in
writing but also may be made verbally by directors, officers and
employees of the Group (including during management presentations)
in connection with this announcement. These forward-looking
statements are based upon current beliefs, expectations and
assumptions regarding anticipated developments and other factors
affecting the Group. They are not historical facts, nor are they
guarantees of future performance or outcomes. All forward-looking
statements contained in this announcement are expressly qualified
in their entirety by the cautionary statements contained or
referred to in this section. Readers should not place undue
reliance on forward-looking statements.
Because these forward-looking statements involve known and unknown
risks and uncertainties, a number of which may be beyond the
Group's control, there are important factors that could cause
actual results to differ materially from those expressed or implied
by these forward-looking statements. Among other risks and
uncertainties, the material or principal factors which could cause
actual results to differ materially from the forward-looking
statements expressed in this announcement are: Unilever's ability
to successfully separate Ice Cream and realise the anticipated
benefits of the separation; Unilever's ability to successfully
execute and consummate its productivity programme in line with
expected costs to achieve expected savings; Unilever's global
brands not meeting consumer preferences; Unilever's ability to
innovate and remain competitive; Unilever's investment choices in
its portfolio management; the effect of climate change on
Unilever's business; Unilever's ability to find sustainable
solutions to its plastic packaging; significant changes or
deterioration in customer relationships; the recruitment and
retention of talented employees; disruptions in Unilever's supply
chain and distribution; increases or volatility in the cost of raw
materials and commodities; the production of safe and high quality
products; secure and reliable IT infrastructure; execution of
acquisitions, divestitures and business transformation projects;
economic, social and political risks and natural disasters;
financial risks; failure to meet high and ethical standards; and
managing regulatory, tax and legal matters.
The forward-looking statements speak only as of the date of this
announcement. Except as required by any applicable law or
regulation, the Group expressly disclaims any intention, obligation
or undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change
in the Group's expectations with regard thereto or any change in
events, conditions or circumstances on which any such statement is
based. New risks and uncertainties arise over time, and it is not
possible for us to predict those events or how they may affect us.
In addition, we cannot assess the impact of each factor on our
business or the extent to which any factor, or combination of
factors, may cause actual results to differ materially from those
contained in any forward-looking statements.
Further details of potential risks and uncertainties affecting the
Group are described in the Group's filings with the London Stock
Exchange, Euronext Amsterdam and the US Securities and Exchange
Commission, including in the Annual Report on Form 20-F 2023 and
the Unilever Annual Report and Accounts 2023.
|
Enquiries
|
|
Media:
Media Relations Team
|
Investors: Investor
Relations Team
|
||
|
UK
|
+44 78
2527 3767
|
lucila.zambrano@unilever.com
|
investor.relations@unilever.com
|
|
or
|
+44 77
7999 9683
|
jonathan.sibun@teneo.com
|
|
|
NL
|
+31 62
191 3705
|
kiran.hofker@unilever.com
|
|
|
or
|
+31 61
500 8293
|
fleur-van.bruggen@unilever.com
|
|
After the conference call on 25 April 2024 at 8:00 AM (UK time),
the webcast of the presentation will be available
at www.unilever.com/investor-relations/results-and-presentations/latest-results.
This Results Presentation has been submitted to the FCA National
Storage Mechanism and is available for inspection
at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.