Summary by Moomoo AI
Unilever reported Q3 2024 underlying sales growth of 4.5%, with volume growth increasing to 3.6% and price growth moderating to 0.9%. Turnover remained flat at €15.2 billion due to currency impact and disposals. The company maintained its full-year 2024 outlook of 3-5% underlying sales growth and an underlying operating margin of at least 18%.All business groups achieved positive volume growth, with Ice Cream leading at 9.8% underlying sales growth. Beauty & Wellbeing and Personal Care delivered strong performances, while Home Care and Nutrition saw more modest growth. Geographically, developed markets grew 6.9%, outpacing emerging markets at 2.9%.Unilever is progressing with its productivity program and the separation of Ice Cream, both on track for completion by end-2025. The company is also implementing strategic changes in challenging markets like Indonesia and China, with benefits expected from H2 2025. The final tranche of the €1.5 billion share buyback program for 2024 is underway, and a quarterly interim dividend of €0.4396 per share was declared.
