Unilever PLC 6-K, filed Oct 22, 2020
Unilever PLC (UL)
6-K
2020-10-22
For: 2020-10-22
View Original
Added on
April 09, 2026
About this 6-K
Unilever PLC filed this 6-K on October 22, 2020.
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
For the
month of October, 2020
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
|
|
|
|
|
|
|
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/S/ R SOTAMAA
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BY R SOTAMAA
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CHIEF LEGAL OFFICER AND GROUP SECRETARY
|
Date:
22 October, 2020
EXHIBIT INDEX
------------------------
|
EXHIBIT
NUMBER
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EXHIBIT
DESCRIPTION
|
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99
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Notice
to London Stock Exchange dated 22
October 2020
|
|
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3rd Quarter Trading Statement
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Exhibit
99
UNILEVER TRADING STATEMENT THIRD QUARTER 2020
Performance highlights
|
Underlying performance
|
GAAP measures
|
||||
|
|
|
vs 2019
|
|
|
vs 2019
|
|
Third quarter
|
|
|
|
|
|
|
Underlying
sales growth (USG)
|
|
4.4%
|
Turnover
|
€12.9bn
|
(2.4)%
|
|
Nine months
|
|
|
|
|
|
|
USG
|
|
1.4%
|
Turnover
|
€38.6bn
|
(1.8)%
|
|
Quarterly
dividend payable in November
2020
€0.4104 per share
|
|||||
Third quarter highlights
●
Underlying sales
growth of 4.4%, with 3.9% volume and 0.5% price
●
Emerging markets
underlying sales growth 5.3% and developed markets
3.1%
●
Turnover decreased
2.4%, with a negative impact from currency of 7.7%
●
Quarterly
shareholder dividend maintained at €0.4104 per
share
“We
have delivered a strong performance this quarter. Volume-led growth
shows the resilience of our portfolio and our agility in responding
to rapidly changing dynamics across consumer segments, geographies
and channels.
We
continue to progress our strategic change agenda. Our proposals to
simplify Unilever’s dual-headed legal structure have received
strong support from both NV and PLC shareholders, and we have set
out our Clean Future strategy in Home Care, to eliminate fossil
fuel derived carbon from our cleaning products by
2030.
The
environment we are operating in will remain unpredictable in the
near term, so we will continue to maintain the speed and agility of
our response. Our focus remains volume-led competitive growth,
delivering absolute profit and free cash flow.”
22
October 2020
|
THIRD QUARTER OPERATIONAL REVIEW
|
|
|
Third
Quarter 2020
|
Nine
Months 2020
|
||||||
|
(unaudited)
|
Turnover
|
USG
|
UVG
|
UPG
|
Turnover
|
USG
|
UVG
|
UPG
|
|
|
€bn
|
%
|
%
|
%
|
€bn
|
%
|
%
|
%
|
|
Unilever
|
12.9
|
4.4
|
3.9
|
0.5
|
38.6
|
1.4
|
1.1
|
0.3
|
|
Beauty
& Personal Care
|
5.3
|
3.8
|
3.5
|
0.4
|
15.9
|
1.1
|
1.3
|
(0.2)
|
|
Home
Care
|
2.6
|
6.7
|
8.5
|
(1.6)
|
7.9
|
4.4
|
4.8
|
(0.4)
|
|
Foods
& Refreshment
|
5.0
|
3.7
|
1.8
|
1.8
|
14.8
|
0.1
|
(1.1)
|
1.2
|
Our markets: Covid-19 continues
to influence consumer behaviours and channel dynamics in our
markets. In North America, market growth continued to be driven by
elevated demand for foods consumed at home. European markets saw a
mixed picture on growth and a challenging pricing environment. In
China, growth improved slightly compared to the second quarter.
After a strict lock-down earlier in the year, India saw a pick-up
in economic activity, even though cases of Covid-19 continued to
increase. In Indonesia and Latin America markets contracted in the
third quarter.
Unilever overall performance: We continued to respond with agility to the
changing consumer and channel dynamics that have come about as a
result of the Covid-19 pandemic, focusing on driving execution
against the five growth fundamentals we set out earlier this
year.
Underlying sales growth accelerated compared to the second quarter.
Elevated levels of growth for hand and home hygiene products
continued, as well as for food consumed at home. Our food service
and out of home ice cream businesses continued to decline, however
at lower levels compared to the second quarter. Performance also
improved in our other categories, with declines lessening in
deodorants and skin care, while laundry and hair returned to
growth. Online channels continued to grow, and our e-commerce
business grew 76%.
Emerging markets grew 5.3%, as China’s recovery continued,
and India and Brazil returned to growth. Developed markets grew
3.1%, led by ongoing strength in North America. In Europe, volumes
grew despite a negative impact from out of home ice cream and food
service, although this was more than offset by increased pressure
on price, driven by a step up in promotional
intensity.
Turnover decreased 2.4%. There was a positive impact of 1.3% from
acquisitions net of disposals and a negative impact of 7.7% from
currency.
Beauty & Personal Care
Beauty & Personal Care underlying sales grew 3.8%, with 3.5%
from volume and 0.4% from price.
Demand for hand hygiene products remained high, albeit slightly
below levels seen in the second quarter, and skin cleansing
delivered underlying sales growth of 19.9%. Growth was supported by
innovations including Dove’s
entry into the antibacterial segment,
and the extension of Lifebuoy into new formats and channels across several
European markets. Skin care declined high-single digit and
deodorants declined low-single digit. Both categories were
negatively impacted by restricted living conditions, although
improved compared to the second quarter as many countries eased
lockdowns. Hair grew overall, as a decline in styling was offset by
growth in wash and care products. Our Prestige business grew as the
health and beauty channel reopened, although footfall remained
subdued.
Home Care
Home Care underlying sales grew 6.7%, with 8.5% from volume and
negative pricing of -1.6%.
Consumer demand for household cleaners to combat the spread of
Covid-19 continued. Our home and hygiene brands delivered
high-teens underlying sales growth, with germ-killing and
antibacterial benefits particularly sought after. We
launched Domestos in China, as well as extending the brand to
bleach-based spray and wipe formats. Fabric solutions grew
low-single digit, although
price declined as we passed on reduced commodity costs particularly
in European and South East Asian markets. In Latin America, our
six-times concentrated Omo laundry liquid, designed to be diluted at home,
was a growth driver. Fabric sensations grew low-single digit, and
we launched new Comfort fragrance boosters in China, dual-colour beads
with luxury-inspired fragrances.
Foods & Refreshment
Foods & Refreshment underlying sales grew 3.7%, with 1.8% from
volume and 1.8% from price.
Our retail foods business grew double digit and tea saw mid-single
digit growth as in home eating occasions continued at elevated
levels. Hellmann’s
grew mid-teens, with
Hellmann’s
Vegan now available in 30 markets.
Sales of ice cream grew, driven by both volume and price. Mid-teens
growth of in home ice cream, led by brands including
Ben &
Jerry’s and
Magnum, more than offset the decline in out of home ice
cream sales. The food service channel remained fully or partially
closed in many markets and food service sales declined by over 20%,
however trends continue to improve with China now returning to
growth. We have made good progress in integrating the Horlicks
business and we continue the work to implement the separation of
our tea businesses.
|
THIRD QUARTER OPERATIONAL REVIEW: GEOGRAPHICAL AREA
|
|
|
Third
Quarter 2020
|
Nine
Months 2020
|
||||||
|
(unaudited)
|
Turnover
|
USG
|
UVG
|
UPG
|
Turnover
|
USG
|
UVG
|
UPG
|
|
|
€bn
|
%
|
%
|
%
|
€bn
|
%
|
%
|
%
|
|
Unilever
|
12.9
|
4.4
|
3.9
|
0.5
|
38.6
|
1.4
|
1.1
|
0.3
|
|
Asia/AMET/RUB
|
6.0
|
4.5
|
3.7
|
0.7
|
17.8
|
(0.4)
|
(0.7)
|
0.4
|
|
The
Americas
|
4.0
|
8.0
|
5.9
|
2.0
|
12.2
|
6.0
|
4.7
|
1.3
|
|
Europe
|
2.9
|
(0.8)
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1.3
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(2.1)
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8.6
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(1.5)
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(0.2)
|
(1.3)
|
|
|
Third
Quarter 2020
|
Nine Months 2020
|
||||||
|
(unaudited)
|
Turnover
|
USG
|
UVG
|
UPG
|
Turnover
|
USG
|
UVG
|
UPG
|
|
|
€bn
|
%
|
%
|
%
|
€bn
|
%
|
%
|
%
|
|
Emerging
markets
|
7.4
|
5.3
|
3.7
|
1.5
|
22.2
|
0.5
|
(0.5)
|
1.0
|
|
Developed
markets
|
5.5
|
3.1
|
4.1
|
(1.0)
|
16.4
|
2.6
|
3.4
|
(0.7)
|
|
North
America
|
2.5
|
9.1
|
8.6
|
0.5
|
7.7
|
7.9
|
8.0
|
(0.1)
|
|
Latin
America
|
1.5
|
6.5
|
2.1
|
4.2
|
4.5
|
3.5
|
0.2
|
3.3
|
Asia/AMET/RUB
Underlying sales grew 4.5% with 3.7% from volume and 0.7% from
price, as lock-down restrictions eased across much of the region
compared to the first half of the year. India grew
low-single digit, driven by growth in foods & refreshment and
hygiene. China grew double digit led
by beauty and personal care categories and a return to growth in
food service, as the out of home eating channel returned to full
capacity. Turkey grew, with easing of lockdown restrictions.
Indonesia declined low-single digit and in Thailand, heightened
promotional intensity led to a price-driven decline in underlying
sales.
The Americas
Underlying
sales growth in North America was 9.1% with 8.6% from volume and
0.5% from price. This growth includes the negative impact of around
1.5% from our food service
business which was impacted by channel closures. Sales of foods and
refreshment for consumption in the home continued to be a driver of
growth, alongside hand and home hygiene. Clean and green Home Care
brand Seventh Generation,
along with acquired health and wellness brand Olly, contributed strong double digit
underlying sales growth.
Latin America grew 6.5% with volume growth of 2.1% and positive
pricing of 4.2%. Brazil returned to growth, with high-single digit
underlying sales growth led by Foods & Refreshment. Demand was
stimulated by emergency pandemic cash payouts to citizens. In
Argentina, home and personal care categories drove volumes,
including strong growth from our newly launched dilutable laundry
liquid. Growth was helped by a
softer comparator due to trading disruption as a result of currency
devaluation and the implementation of price rises in the prior
year.
Europe
Underlying
sales declined 0.8% with 1.3% from volume and a decline of 2.1%
from price. Price declines were driven by a step up in promotional
intensity across the region, as the depth and volume of promotions
increased. Out of home ice cream declined, particularly in
countries reliant on summer tourism such as Italy and Spain, which
contributed to double digit decline in both countries. The food
service business also continued to decline albeit less sharply than
in the previous quarter. Demand for retail foods remained elevated
and home care grew across most markets, helped by heightened demand
for home hygiene products. Growth in both categories contributed to
mid-single digit growth in the UK.
|
UNIFICATION UPDATE
|
In this quarter, our proposals to simplify Unilever’s
dual-headed legal structure have received strong support from both
NV and PLC shareholders. When we issued the Unification
shareholder circular in August we noted that on 10 July 2020, a
member of the Dutch Parliament for GroenLinks (a Dutch opposition
party) had proposed a private members bill which sought to impose
an exit tax on companies leaving the Netherlands in certain
circumstances.
We announced on 9 October 2020 that the GroenLinks initiative bill
had been tabled in the Dutch Parliament. The tabled bill contains a
number of amendments to the previous proposals dated 10 July and 18
September 2020 including:
●
to
provide for automatic (as opposed to conditional) deferral of the
exit tax assessment. As described in our shareholder circular,
deferral would allow the exit tax assessment to be paid over time
to the extent that the acquiring company: (i) subsequently makes
distributions of reserves on the new shares issued to the former
Dutch company’s shareholders (“Relevant Shares”),
including by way of distributions of profits in any form, deemed
distributions and certain share buy-backs; and (ii) pays an amount
to the Dutch revenue equal to the withholding tax that would have
been payable by the acquiring company in respect of such
distribution had it been tax resident in the Netherlands
(“Deemed Withholding Tax”); and
●
a
provision which seeks to provide the acquiring company with a right
of recourse to withhold the Deemed Withholding Tax from holders of
Relevant Shares at the time of each distribution. Despite this
provision, in the context of Unification as proposed, PLC would
have no enforceable means (either legally under English law or
practically) to exercise this right of recourse and to withhold the
Deemed Withholding Tax. If the company is not able to exercise this
right of recourse, shareholders would not be able claim a
corresponding credit for the Deemed Withholding Tax borne by the
company.
Despite the amendments made Unilever has received legal advice
that, if the bill were enacted in its current form with retroactive
effect and were applied to Unification, it should infringe the
Dutch UK tax treaty, other tax treaties which the Netherlands has
concluded with states in which shareholders of Unilever PLC or
Unilever NV reside, primary and secondary EU law and the First
Protocol to the European Convention on Human Rights.
It is not clear when, or indeed if at all, the bill will be
enacted, or in what form. As previously stated, the Boards intend
to proceed with their proposals provided that Unification, in the
Boards’ view, remains in the best interests of Unilever, its
shareholders and other stakeholders as a whole.
The Boards will continue to update shareholders as
appropriate.
The Court hearing to approve the Cross-Border Merger is scheduled
to take place on 2 November 2020, and the time of the hearing will
be announced by the Court the business day before the hearing.
Shareholders of both PLC and NV have the opportunity to attend and
to be heard at this hearing, which is expected to be held by
electronic means. If a shareholder wishes to attend or make
representations at the Court hearing they can register their
interest in advance via shareholder.services@unilever.com, and
Unilever will provide further details once this information is made
available by the Court. Alternatively, shareholders can contact the
Court’s listing office via chanceryjudgeslisting@justice.gov.uk.
|
COMPETITION INVESTIGATIONS
|
As previously disclosed, Unilever is involved in a number of
ongoing investigations and cases by national competition
authorities, including those within Italy, Greece and South Africa.
These proceedings and investigations are at various stages and
concern a variety of product markets. Where appropriate, provisions
are made and contingent liabilities disclosed in relation to such
matters.
Ongoing compliance with competition laws is of key importance to
Unilever. It is Unilever’s policy to co-operate fully with
competition authorities whenever questions or issues arise. In
addition the Group continues to reinforce and enhance its internal
competition law training and compliance programme on an ongoing
basis.
|
DIVIDENDS
|
The
Boards have determined to pay a quarterly interim dividend for Q3
2020 at the following rates which are equivalent in value between
the two companies at the rate of exchange applied under the terms
of the Equalisation Agreement:
Per
Unilever N.V. ordinary share:
€ 0.4104
Per
Unilever PLC ordinary share:
£ 0.3746
Per
Unilever N.V. New York share:
US$
0.4845
Per
Unilever PLC American Depositary Receipt: US$
0.4845
The
quarterly interim dividends have been determined in euros and
converted into equivalent sterling and US dollar amounts using
exchange rates issued by WM/Reuters on 20 October
2020.
US
dollar cheques for the quarterly interim dividend will be mailed on
20 November 2020 to holders of record at the close of business on
30 October 2020. In the case of the NV New York shares, Netherlands
withholding tax will be deducted.
The
quarterly dividend calendar for the remainder of 2020 will be as
follows:
|
|
Announcement
Date
|
Ex-Dividend
Date
|
Record
Date
|
Payment
Date
|
|
Q3 2020
Dividend
|
22
October 2020
|
29
October 2020
|
30
October 2020
|
20
November 2020
|
|
SEGMENT
INFORMATION - DIVISIONS
|
(unaudited)
|
Third Quarter
|
Beauty
& Personal
Care
|
Home
Care
|
Foods
& Refreshment
|
Total
|
|
Turnover (€ million)
|
|
|
|
|
|
2019
|
5,574
|
2,704
|
4,976
|
13,254
|
|
2020
|
5,348
|
2,591
|
4,991
|
12,930
|
|
Change
(%)
|
(4.1)
|
(4.2)
|
0.3
|
(2.4)
|
|
Impact
of:
|
|
|
|
|
|
Acquisitions
(%)
|
0.2
|
0.2
|
3.5
|
1.4
|
|
Disposals
(%)
|
-
|
(0.3)
|
(0.3)
|
(0.2)
|
|
Currency-related
items (%), of
which:
|
(7.8)
|
(10.1)
|
(6.3)
|
(7.7)
|
|
Exchange rates changes (%)
|
(7.9)
|
(10.4)
|
(6.7)
|
(8.0)
|
|
Extreme price growth in hyperinflationary markets* (%)
|
0.1
|
0.3
|
0.4
|
0.3
|
|
|
|
|
|
|
|
Underlying sales growth (%)
|
3.8
|
6.7
|
3.7
|
4.4
|
|
Price*
(%)
|
0.4
|
(1.6)
|
1.8
|
0.5
|
|
Volume
(%)
|
3.5
|
8.5
|
1.8
|
3.9
|
|
Nine Months
|
Beauty
&
Personal
Care
|
Home
Care
|
Foods
& Refreshment
|
Total
|
|
Turnover (€ million)
|
|
|
|
|
|
2019
|
16,273
|
8,095
|
14,957
|
39,325
|
|
2020
|
15,948
|
7,912
|
14,762
|
38,622
|
|
Change
(%)
|
(2.0)
|
(2.3)
|
(1.3)
|
(1.8)
|
|
Impact
of:
|
|
|
|
|
|
Acquisitions
(%)
|
0.9
|
0.2
|
2.3
|
1.3
|
|
Disposals
(%)
|
-
|
-
|
(0.4)
|
(0.2)
|
|
Currency-related
items (%), of
which:
|
(3.9)
|
(6.5)
|
(3.3)
|
(4.2)
|
|
Exchange rates changes (%)
|
(4.1)
|
(6.8)
|
(3.6)
|
(4.5)
|
|
Extreme price growth in hyperinflationary markets* (%)
|
0.2
|
0.3
|
0.3
|
0.3
|
|
|
|
|
|
|
|
Underlying sales growth (%)
|
1.1
|
4.4
|
0.1
|
1.4
|
|
Price*
(%)
|
(0.2)
|
(0.4)
|
1.2
|
0.3
|
|
Volume
(%)
|
1.3
|
4.8
|
(1.1)
|
1.1
|
*
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 AREA
|
(unaudited)
|
Third Quarter
|
Asia
/
AMET
/
RUB
|
The
Americas
|
Europe
|
Total
|
|
Turnover (€ million)
|
|
|
|
|
|
2019
|
6,068
|
4,198
|
2,988
|
13,254
|
|
2020
|
5,987
|
3,994
|
2,949
|
12,930
|
|
Change
(%)
|
(1.3)
|
(4.9)
|
(1.3)
|
(2.4)
|
|
Impact of:
|
|
|
|
|
|
Acquisitions
(%)
|
3.0
|
0.2
|
-
|
1.4
|
|
Disposals
(%)
|
(0.1)
|
(0.3)
|
(0.1)
|
(0.2)
|
|
Currency-related
items (%), of
which:
|
(8.3)
|
(11.8)
|
(0.3)
|
(7.7)
|
|
Exchange rates changes (%)
|
(8.4)
|
(12.3)
|
(0.3)
|
(8.0)
|
|
Extreme price growth in hyperinflationary markets* (%)
|
0.2
|
0.5
|
-
|
0.3
|
|
|
|
|
|
|
|
Underlying sales growth (%)
|
4.5
|
8.0
|
(0.8)
|
4.4
|
|
Price*
(%)
|
0.7
|
2.0
|
(2.1)
|
0.5
|
|
Volume
(%)
|
3.7
|
5.9
|
1.3
|
3.9
|
|
Nine Months
|
Asia
/
AMET
/
RUB
|
The
Americas
|
Europe
|
Total
|
|
Turnover (€ million)
|
|
|
|
|
|
2019
|
18,263
|
12,284
|
8,778
|
39,325
|
|
2020
|
17,788
|
12,200
|
8,635
|
38,622
|
|
Change
(%)
|
(2.6)
|
(0.7)
|
(1.6)
|
(1.8)
|
|
Impact
of:
|
|
|
|
|
|
Acquisitions
(%)
|
1.9
|
1.0
|
0.3
|
1.3
|
|
Disposals
(%)
|
(0.1)
|
(0.2)
|
(0.2)
|
(0.2)
|
|
Currency-related
items (%), of
which:
|
(4.0)
|
(7.2)
|
(0.3)
|
(4.2)
|
|
Exchange rate changes (%)
|
(4.1)
|
(7.8)
|
(0.3)
|
(4.5)
|
|
Extreme price growth in hyperinflationary markets* (%)
|
0.1
|
0.7
|
-
|
0.3
|
|
|
|
|
|
|
|
Underlying sales growth (%)
|
(0.4)
|
6.0
|
(1.5)
|
1.4
|
|
Price*
(%)
|
0.4
|
1.3
|
(1.3)
|
0.3
|
|
Volume
(%)
|
(0.7)
|
4.7
|
(0.2)
|
1.1
|
*
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.
|
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 pages 6 and 7.
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 pages 6 and
7.
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 pages 6 and
7.
|
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.
Words such as ‘will’, ‘aim’,
‘expects’, ‘anticipates’,
‘intends’, ‘looks’, ‘believes’,
‘vision’, or the negative of these terms and other
similar expressions of future performance or results, and their
negatives, are intended to identify such forward-looking
statements. These forward-looking statements are based upon current
expectations and assumptions regarding anticipated developments and
other factors affecting the Unilever Group (the
‘Group’). They are not historical facts, nor are they
guarantees of future performance.
Because
these forward-looking statements involve risks and uncertainties,
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 are: 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 our 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. A
number of these risks have increased as a result of the current
Covid-19 pandemic. These forward-looking statements speak only as
of the date of this document. Except as required by any applicable
law or regulation, the Group expressly disclaims any 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. 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 2019 and the Unilever Annual Report and Accounts
2019.
|
ENQUIRIES
|
|
Media: Media Relations Team
|
Investors: Investor Relations Team
|
|||
|
UK
or
NL
or
|
+44 78
2527 3767
+44 77
7999 9683
+31 10
217 4844
+31 62
375 8385
|
lucila.zambrano@unilever.com
JSibun@tulchangroup.com
els-de.bruin@unilever.com
marlous-den.bieman@unilever.com
|
+44 20
7822 6830
|
investor.relations@unilever.com
|
There
will be a web cast of the results presentation available
at:
www.unilever.com/investor-relations/results-and-presentations/latest-results