China
declined low-single digit with market weakness across categories
and in the context of softer markets, we are transforming our
go-to-market approach. South East Asia declined mid-single digit,
driven by an (18)% decline in Indonesia which was only partially
offset by volume-led growth in Philippines and
Thailand.
We
are making decisive interventions to fix our long-standing issues
in Indonesia, which include removing price instability across
channels and resetting stock levels in retail to what we consider
optimum levels. We expect to see the benefits of the changes in
Indonesia and China from the second half of 2025.
Turnover
of €15.2 billion was in line with the prior year, as
underlying sales growth was offset by a currency impact of (2.8)%
and (1.5)% from disposals net of acquisitions.
Progress
on Ice Cream separation and productivity programme
In
March, we announced the separation of Ice Cream and the launch of a
major productivity programme to strengthen the company and
substantially improve our efficiency and
effectiveness.
Separation
activity is on track to complete by the end of 2025. We are
progressing with the legal entity set up, the standalone operating
model and the carve-out financials.
In
July, we communicated internally on the changes planned within the
productivity programme to simplify our business and further evolve
our category-focused operating model. We have started the
implementation in those countries where the consultation with the
respective works councils completed.
Capital
allocation
On
2 August 2024, we completed the sale of our stake in Qinyuan Group
(also known as "Truliva"), which offers a range of water
purification solutions to households in China, to Yong Chao Venture
Capital Co., Ltd.
On
10 October 2024, we completed the sale of our Russian subsidiary to
Arnest Group. The sale includes all of Unilever's business in
Russia and its four factories, as well as our business in
Belarus.
In
February 2024, we announced a share buyback programme of up to
€1.5 billion to be conducted during 2024. The first tranche
of €700 million completed in August. The second tranche of up
to €800 million commenced in September and will complete in
December 2024.
After
the quarterly interim dividend for the second quarter was raised by
3.0% to €0.4396, the quarterly interim dividend for the third
quarter is maintained at this level.
Conference Call
Following the release of this trading statement on 24 October 2024
at 7:00 AM (UK time), there
will be a live 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.
Upcoming Events
Date
Events
22 November 2024
Unilever Investor Event 2024
13 February 2025
Q4 and FY 2024 results
Third Quarter Review: Business Groups
Third Quarter 2024
Nine Months 2024
(unaudited)
Turnover
USG
UVG
UPG
Turnover
USG
UVG
UPG
Unilever
€15.2bn
4.5%
3.6%
0.9%
€46.4bn
4.3%
2.9%
1.3%
Beauty
& Wellbeing
€3.2bn
6.7%
5.7%
0.9%
€9.8bn
7.0%
5.6%
1.3%
Personal
Care
€3.4bn
4.4%
3.1%
1.3%
€10.4bn
5.2%
3.0%
2.2%
Home
Care
€3.0bn
1.9%
3.3%
(1.4)%
€9.3bn
2.8%
4.2%
(1.3)%
Nutrition
€3.2bn
1.5%
0.4%
1.1%
€9.9bn
2.6%
0.1%
2.5%
Ice
Cream
€2.4bn
9.8%
6.7%
2.9%
€7.0bn
3.6%
1.5%
2.1%
Beauty & Wellbeing (21%
of Q3 turnover)
In Beauty & Wellbeing, we focus 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
Third
Quarter
€3.2bn
6.7%
5.7%
0.9%
1.0%
-%
(2.1)%
5.5%
Nine
Months
€9.8bn
7.0%
5.6%
1.3%
0.9%
(1.1)%
(1.6)%
5.1%
Beauty
& Wellbeing delivered a strong performance, with underlying
sales up 6.7%, driven by volume up 5.7% and price up
0.9%.
Hair Care delivered low-single digit growth with
low-single digit volume growth. Dove continued to deliver volume-led growth
following the first half launch of Scalp + Hair Therapy,
while TRESemmé grew
mid-single digit with continued success of its treatments and
styling range. Our largest hair care
brand, Sunsilk,
grew low-single digit and Clear achieved high-single digit growth outside
China, but was flat overall.
Core Skin Care grew mid-single digit led by
double-digit volume growth in the United
States. Dove achieved strong double-digit growth, which
included the launch of High Potency Body Serums and 3-in-1 face
care treatments in Brazil. Pond's grew double-digit supported by our Bright
Miracle and Age Miracle face care ranges, featuring advanced
technologies for clearer, more youthful
skin. Vaseline continued to perform well, supported by the
continued rollout of premium innovations like Radiant X and Gluta
Hya, as well as the launch of Pro VitaB3 Serum-Burst Lotion in the
United States.
Health & Wellbeing and Prestige Beauty
combined delivered double-digit growth for the fifteenth
consecutive quarter. This was led by very strong growth in Health
& Wellbeing, which offset lower growth in Prestige Beauty
reflecting the continued slowdown in the United States and China
beauty markets. Liquid I.V. delivered another quarter of strong
double-digit growth, driven by a successful summer season and
continued international expansion. Nutrafol and Olly also saw strong double-digit growth,
with Olly's female health supplements performing well in
China. Hourglass led Prestige growth with strong double-digit
growth, driven by hero products such as Vanish Airbrush Concealer
and Veil Hydrating Skin Tint, while Paula's
Choice was impacted by the
market slowdown.
Personal Care (22%
of Q3 turnover)
In Personal Care, we focus 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
Third
Quarter
€3.4bn
4.4%
3.1%
1.3%
-%
(6.3)%
(3.6)%
(5.7)%
Nine
Months
€10.4bn
5.2%
3.0%
2.2%
-%
(4.4)%
(2.1)%
(1.6)%
Personal
Care delivered volume-led growth with underlying sales up 4.4%,
driven by volume up 3.1% and price up 1.3%.
Deodorants grew high-single digit, which was
volume-led. Latin America led growth with double-digit volume,
while Europe and North America saw mid-single digit
increases. Dove continued to grow double-digit with strength
across both core women and Dove
Men+Care ranges, including
our expansion into the whole body deodorants market in the first
half. Axe and Rexona continued to grow, driven by the ongoing
success of our fine fragrance and clinical
ranges.
Skin Cleansing grew low-single digit fully driven
by volume. In Europe, we achieved high-single digit growth driven
by volume increases, while in the United States, we saw mid-single
digit growth. Dove delivered high-single digit growth,
supported by the first-half relaunch of Dove's body wash in Europe and the launch
of Dove's premium body wash range infused with skincare
serums in the United States. Growth was tempered by deflation in
India, category declines in China, and operational challenges in
Indonesia.
Oral
Care grew low-single digit with mid-single digit growth in Europe
partially offset by a decline in Indonesia.
Home Care (20%
of Q3 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
Third
Quarter
€3.0bn
1.9%
3.3%
(1.4)%
-%
(1.2)%
(3.6)%
(2.9)%
Nine
Months
€9.3bn
2.8%
4.2%
(1.3)%
-%
(0.4)%
(2.3)%
-%
Home
Care underlying sales grew 1.9%, with volume growth of 3.3%,
partially offset by a (1.4)% price decline.
Fabric Cleaning declined low-single digit as
slightly positive volume was more than offset by low-single digit
negative price. Europe led with high-single digit growth, driven by
double-digit volume. Persil Wonder Wash, featuring our patented Pro-S
technology designed for short cycle washes, continued to perform
well and was launched in Turkey in Q3. In India, we grew
high-single digit driven by strong volumes and double-digit growth
in liquids led by our Surf Excel Matic and Rin ranges. Brazil saw declines in both price
and volume due to a softening market and commodity deflation,
particularly affecting our powders portfolio.
Home & Hygiene grew mid-single digit led by
volume. Domestos grew double-digit led by momentum in our
Power Foam range which expanded to new geographies including Poland
and Turkey. Cif also maintained double-digit, volume-led
growth.
Fabric Enhancers grew double-digit with strong
volumes slightly offset by negative price. Comfort continued to deliver double-digit volume
growth following the successful first-half launch of our new,
Botanicals and Elixir ranges, with our patented CrystalFresh
technology.
Nutrition (21%
of Q3 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
Third
Quarter
€3.2bn
1.5%
0.4%
1.1%
-%
(0.5)%
(2.5)%
(1.5)%
Nine
Months
€9.9bn
2.6%
0.1%
2.5%
-%
(0.4)%
(1.9)%
0.3%
Nutrition
underlying sales grew 1.5%, driven by positive price and
volume.
Scratch Cooking Aids grew low-single digit, led by
mid-single digit growth in Knorr. In Latin America, we achieved double-digit
growth, driven by strong performance from our next generation
bouillon & seasoning ranges with enhanced flavours and
micronutrients. In the United States, we saw mid-single digit
growth, entirely volume-driven, benefiting from social-first
campaigns promoting home cooking with bouillon.
Dressings was flat with low-single digit volume
offset by negative price. Hellmann's delivered low-single digit volume growth
which was offset by negative price as promotional intensity
increased. Flavoured mayo continued to perform well with rapid
geographic expansion, including recent launches in Argentina and
the Philippines.
Unilever Food
Solutions grew
low-single digit with positive volumes despite a slowdown in China.
We continued to expand our digital selling programme and benefited
from the launch of Hellmann's Professional
Mayo in Europe and Brazil, specifically designed for professional
kitchens.
Ice Cream (16%
of Q3 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
Third
Quarter
€2.4bn
9.8%
6.7%
2.9%
0.7%
-%
(2.3)%
8.1%
Nine
Months
€7.0bn
3.6%
1.5%
2.1%
1.5%
-%
(1.2)%
3.9%
Ice
Cream underlying sales grew 9.8%, with 6.7% from volume and 2.9%
from price. This improved performance was driven by operational
strengthening, including distribution gains and optimised
promotional activities, alongside strong innovations. These
improvements were amplified by a weak Q3 2023
comparator.
In-home grew double-digit led by double-digit
volume growth in Europe. Magnum's first bite-sized innovation, Bon Bons, along
with Ben &
Jerry's Peaces
and Yasso's Poppables, performed well. These premium
micro-format innovations cater to the demand for smaller, frequent
indulgences, driving growth in the Ice Cream category
year-round.
Out-of-home grew high-single digit with positive
volume and price growth. Magnum achieved double-digit growth, with continued
strong performance of its premium 'Pleasure Express' range,
featuring Euphoria, Wonder, and Chill. Ben &
Jerry's and Cornetto saw high-single digit growth, supported
by Cornetto's first global relaunch with enhanced formulation
and new packaging.
Third Quarter Review: Geographical Areas
Third Quarter 2024
Nine
Months 2024
(unaudited)
Turnover
USG
UVG
UPG
Turnover
USG
UVG
UPG
Unilever
€15.2bn
4.5%
3.6%
0.9%
€46.4bn
4.3%
2.9%
1.3%
Asia
Pacific Africa
€6.5bn
2.5%
1.0%
1.5%
€19.9bn
3.2%
2.0%
1.2%
The
Americas
€5.5bn
5.9%
4.6%
1.3%
€16.9bn
5.6%
4.1%
1.4%
Europe
€3.2bn
6.5%
7.7%
(1.0)%
€9.6bn
4.5%
2.9%
1.5%
Third Quarter 2024
Nine
Months 2024
(unaudited)
Turnover
USG
UVG
UPG
Turnover
USG
UVG
UPG
Emerging
markets
€8.7bn
2.9%
1.4%
1.5%
€27.0bn
4.4%
3.0%
1.3%
Developed
markets
€6.5bn
6.9%
6.8%
0.1%
€19.4bn
4.1%
2.8%
1.3%
North
America
€3.3bn
7.4%
6.2%
1.1%
€10.0bn
4.7%
3.4%
1.3%
Latin
America
€2.2bn
3.8%
2.0%
1.7%
€6.9bn
7.0%
5.3%
1.6%
Asia Pacific
Africa (43%
of Q3 turnover)
Underlying
sales growth was 2.5% with 1.0% from volume and 1.5% from
price.
India
grew 2.3% driven by volume at 3.4%. Price at (1.0)% lapped an
indirect tax one-off in the 2023 base; excluding this, Q3 UPG would
have been flat. Growth was led by strong volume in both Beauty
& Wellbeing and Home Care. Africa and Turkey continued to grow
double-digit with positive price and volume.
China
declined low-single digit amidst continued weak consumer sentiment.
In addition, we are resetting our go-to-market approach with higher
category focus, updated channel strategies and sharper geographic
choices. We appointed new leadership in China, and we will continue
to build on our strong positions in core categories.
Underlying
sales declined (18)% in Indonesia, primarily due to our
long-standing operational issues.
We
are taking significant actions in Indonesia, which include removing
price instability across channels and resetting stock levels in
retail to what we consider optimum levels.
We
expect to see the benefits of the changes in Indonesia and China
from the second half of 2025.
The Americas (36%
of Q3 turnover)
Underlying sales grew 7.4% in North America with
6.2% from volume and 1.1% from price. Beauty & Wellbeing
delivered double-digit, volume-led growth, driven by a strong
performance in Health & Wellbeing and continued good momentum
in Vaseline. Personal Care saw a balanced mid-single digit
growth, supported by Dove. Nutrition grew low-single digit with positive
volume and price, but reflecting a slowdown in category growth. Ice
Cream contributed high-single digit volume growth and positive
price supported by strong Popsicle SpongeBob and Minions
innovations.
Underlying sales in Latin America decelerated to
3.8% with 2.0% volume and 1.7% price. Beauty & Wellbeing and
Personal Care grew high-single digit with positive price and
volume, led by double-digit volume growth in Deodorants and Skin
Care. Home Care declined low-single digit, adversely affected by a
slowdown in Brazil powders' market. Nutrition grew mid-single digit
with a strong performance from Knorr. Ice Cream declined low-single digit driven by
adverse weather conditions in the region. Brazil grew low-single
digit with strong growth from Beauty & Wellbeing and Personal
Care. Mexico experienced low-single digit growth as pricing and
volumes began to normalise after double-digit growth over the
previous eight quarters. Despite ongoing economic adjustments in
Argentina and continued hyperinflationary pricing, we delivered
positive volume growth.
Europe (21%
of Q3 turnover)
Underlying
sales grew 6.5% with volume growth of 7.7% partially offset by
negative price of (1.0)%. Our stepped-up performance in Europe was
underpinned by a strong innovation programme and increased levels
of brand investment. Ice Cream and Home Care delivered
double-digit, volume-led growth, while Personal Care grew
mid-single digit, led by another quarter of strong volume growth in
Deodorants. Nutrition was slightly positive. Growth was broad-based
in Europe, with all major markets delivering positive volume growth
in the quarter.
Dividends
The
Board has declared a quarterly interim dividend for Q3 2024 of
£0.3663 per Unilever PLC ordinary share or €0.4396 per
Unilever PLC ordinary share at the applicable exchange rate issued
by WM/Reuters on 22 October 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):
£0.3663
Per
Unilever PLC ordinary share (traded on Euronext in
Amsterdam):
€0.4396
Per
Unilever PLC American Depositary Receipt:
US$0.4755
The
euro and US dollar amounts above have been determined using the
applicable exchange rates issued by WM/Reuters on 22 October
2024.
US
dollar cheques for the quarterly interim dividend will be mailed on
06 December 2024 to holders of record at the close of business
on 08 November 2024.
The
quarterly dividend calendar for the remainder of 2024 will be as
follows:
Announcement
Date
Ex-dividend
Date for Ordinary Shares
Ex-dividend
Date for ADRs
Record
Date
Payment
Date
Q3 2024 Dividend
24 October
2024
07 November
2024
08 November
2024
08 November 2024
06 December 2024
Segment
Information - Business Groups
(unaudited)
Third
Quarter
Beauty
& Wellbeing
Personal
Care
Home
Care
Nutrition
Ice
Cream
Total
Turnover
(€ million)
2023
3,106
3,597
3,084
3,250
2,205
15,242
2024
3,276
3,393
2,993
3,201
2,383
15,246
Change
(%)
5.5
(5.7)
(2.9)
(1.5)
8.1
-
Impact
of:
Acquisitions
(%)
1.0
-
-
-
0.7
0.3
Disposals
(%)
-
(6.3)
(1.2)
(0.5)
-
(1.8)
Currency-related
items (%), of which:
(2.1)
(3.6)
(3.6)
(2.5)
(2.3)
(2.8)
Exchange rates changes (%)
(3.7)
(5.3)
(6.6)
(4.4)
(4.4)
(4.9)
Extreme price growth in hyperinflationary markets*
1.7
1.8
3.2
2.0
2.2
2.2
Underlying
sales growth (%)
6.7
4.4
1.9
1.5
9.8
4.5
Price*
(%)
0.9
1.3
(1.4)
1.1
2.9
0.9
Volume
(%)
5.7
3.1
3.3
0.4
6.7
3.6
Nine Months
Beauty & Wellbeing
Personal Care
Home Care
Nutrition
Ice Cream
Total
Turnover
(€ million)
2023
9,343
10,515
9,325
9,861
6,733
45,777
2024
9,817
10,349
9,326
9,890
6,996
46,378
Change
(%)
5.1
(1.6)
-
0.3
3.9
1.3
Impact
of:
Acquisitions
(%)
0.9
-
-
-
1.5
0.4
Disposals
(%)
(1.1)
(4.4)
(0.4)
(0.4)
-
(1.4)
Currency-related
items (%), of which:
(1.6)
(2.1)
(2.3)
(1.9)
(1.2)
(1.9)
Exchange rates changes (%)
(3.2)
(3.9)
(5.5)
(3.6)
(3.2)
(3.9)
Extreme price growth in hyperinflationary markets*
1.6
1.9
3.3
1.8
2.1
2.1
Underlying
sales growth (%)
7.0
5.2
2.8
2.6
3.6
4.3
Price*
(%)
1.3
2.2
(1.3)
2.5
2.1
1.3
Volume
(%)
5.6
3.0
4.2
0.1
1.5
2.9
*
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)
Third
Quarter
Asia
Pacific Africa
The
Americas
Europe
Total
Turnover
(€ million)
2023
6,600
5,525
3,117
15,242
2024
6,493
5,478
3,275
15,246
Change
(%)
(1.6)
(0.9)
5.1
-
Impact
of:
Acquisitions
(%)
-
0.9
-
0.3
Disposals
(%)
(0.9)
(3.1)
(1.8)
(1.8)
Currency-related
items (%), of which:
(3.2)
(4.3)
0.4
(2.8)
Exchange rates changes (%)
(4.7)
(8.1)
0.4
(4.9)
Extreme price growth in hyperinflationary markets*
1.6
4.2
-
2.2
Underlying
sales growth (%)
2.5
5.9
6.5
4.5
Price*
(%)
1.5
1.3
(1.0)
0.9
Volume
(%)
1.0
4.6
7.7
3.6
Nine
Months
Asia
Pacific Africa
The
Americas
Europe
Total
Turnover
(€ million)
2023
20,141
16,467
9,169
45,777
2024
19,869
16,950
9,559
46,378
Change
(%)
(1.3)
2.9
4.3
1.3
Impact
of:
Acquisitions
(%)
-
1.1
-
0.4
Disposals
(%)
(0.5)
(2.9)
(0.8)
(1.4)
Currency-related
items (%), of which:
(3.9)
(0.7)
0.6
(1.9)
Exchange rates changes (%)
(5.4)
(4.6)
0.6
(3.9)
Extreme price growth in hyperinflationary markets*
1.5
4.1
-
2.1
Underlying
sales growth (%)
3.2
5.6
4.5
4.3
Price*
(%)
1.2
1.4
1.5
1.3
Volume
(%)
2.0
4.1
2.9
2.9
*
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 page 9 and 10.
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 9 and 10.
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 9 and 10.
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 24
October 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.