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 October
24, 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):_____
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by check mark if the registrant is submitting the Form 6-K in
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as
permitted by Regulation S-T Rule 101(b)(7):_____
Indicate
by check mark whether the registrant by furnishing the
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in this Form is also thereby furnishing the information to
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pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.
Yes
No .X..
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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:
24 October, 2024
EXHIBIT INDEX
------------------------
EXHIBIT
NUMBER
|
EXHIBIT
DESCRIPTION
|
99
|
Notice
to London Stock Exchange dated 24 October 2024
|
|
Q3 2024
Trading Statement
|
Exhibit
99
Unilever
Trading Statement - Third Quarter 2024
Volume-led growth, positive in all Business Groups
|
|
Third
Quarter 2024
|
Nine
Months 2024
|
(unaudited)
|
USG
|
Turnover
|
vs 2023
|
USG
|
Turnover
|
vs 2023
|
Unilever
|
4.5%
|
€15.2bn
|
-%
|
4.3%
|
€46.4bn
|
1.3%
|
Beauty
& Wellbeing
|
6.7%
|
€3.2bn
|
5.5%
|
7.0%
|
€9.8bn
|
5.1%
|
Personal
Care
|
4.4%
|
€3.4bn
|
(5.7)%
|
5.2%
|
€10.4bn
|
(1.6)%
|
Home
Care
|
1.9%
|
€3.0bn
|
(2.9)%
|
2.8%
|
€9.3bn
|
-%
|
Nutrition
|
1.5%
|
€3.2bn
|
(1.5)%
|
2.6%
|
€9.9bn
|
0.3%
|
Ice
Cream
|
9.8%
|
€2.4bn
|
8.1%
|
3.6%
|
€7.0bn
|
3.9%
|
Third quarter highlights
● Underlying sales growth (USG)
of 4.5%, with volume growth increasing to 3.6%
●
Power Brands (>75%
of turnover) leading growth with 5.4%
USG and
volumes up 4.3%
●
Turnover of €15.2 billion with
(2.8)% impact from currency and (1.5)% from net
disposals
●
2024 full year outlook unchanged with
3-5% USG and an underlying operating margin of at least
18%
● Final tranche underway of
2024 share buyback programme of up to €1.5
billion
● Productivity programme and
separation of Ice Cream on track
Chief Executive Officer statement
"We
have delivered a fourth consecutive quarter of positive, improved
volume growth, with each of our Business Groups driving higher
volumes year-on-year.
Underlying
sales grew 4.5%, led by our Power Brands, with particularly strong
performances from Dove, Liquid I.V., Comfort and Magnum. Price
growth continued to moderate in line with our
expectations.
We
are still in the early stages of transforming our performance as we
execute the Growth Action Plan at pace - focused on doing fewer
things, better and with greater impact. We are starting to see the
positive impact from scaling fewer, bigger innovations across our
markets supported by increased brand investment. We are taking
decisive actions, where we see operational or market challenges to
ensure we are well positioned for consistent and improved
performance. As part of the Group's overall transformation, we are
implementing a comprehensive productivity programme and the
separation of Ice Cream, both of which are progressing as
planned.
We
are on track to deliver our 2024 outlook and are confident that the
steps we are taking will help to transform Unilever over time into
a consistently higher performing business."
Hein Schumacher
Our
full year 2024 outlook is unchanged.
We
continue to expect underlying sales growth (USG) for 2024 to be
within our multi-year range of 3% to 5%, with the majority of the
growth being driven by volume.
Underlying
operating margin for the full year is expected to be at least 18%,
with increasing investment behind our brands. We expect the
year-on-year margin progression in the second half to be smaller
than in the first half.
Third Quarter Review: Unilever Group
|
Growth
(unaudited)
|
Turnover
|
USG
|
UVG
|
UPG
|
Acquisitions
|
Disposals
|
Currency
|
Turnover
change
|
Third
Quarter
|
€15.2bn
|
4.5%
|
3.6%
|
0.9%
|
0.3%
|
(1.8)%
|
(2.8)%
|
-%
|
Nine
Months
|
€46.4bn
|
4.3%
|
2.9%
|
1.3%
|
0.4%
|
(1.4)%
|
(1.9)%
|
1.3%
|
Underlying
sales growth in the third quarter was 4.5%, against the backdrop of
slower market growth. Underlying volume growth (UVG) increased to
3.6% in Q3, the fourth consecutive quarter of positive and
improving volume growth. All business groups achieved positive
volume growth. As expected, underlying price growth continued to
moderate to 0.9% in Q3.
The
Power Brands performed strongly with 5.4% underlying sales growth,
driven by volume growth of 4.3%. Our other brands also delivered
volume growth of 1.3% in Q3, up from (1.6)% in H1.
Beauty & Wellbeing grew underlying sales 6.7%,
with volume growth of 5.7%. Health & Wellbeing and Prestige
Beauty combined delivered a fifteenth consecutive quarter of
double-digit, volume-led growth. Strong growth in Health &
Wellbeing more than offset softer growth in Prestige, reflecting
the continued slowdown in the US and China beauty markets. Personal
Care grew 4.4% with 3.1% from volume, driven by a
strong Dove performance. Home Care underlying sales
increased by 1.9%, with 3.3% volume growth more than offsetting
continued negative price growth linked to commodity cost deflation.
Nutrition grew underlying sales 1.5%, with muted volume growth of
0.4% amidst moderating prices and market slowdown. Ice Cream grew
9.8%, with 6.7% from volume and 2.9% from price. This improved
performance reflects the continued focus on operational
improvements alongside strong innovations, amplified by a weak
comparator.
Developed
markets (43% of Group turnover) grew underlying sales 6.9% with
6.8% from volume and 0.1% from price. Volume growth was broad-based
and reflected strong growth in Beauty & Wellbeing in North
America, strong growth in Home Care in Europe and a marked volume
improvement in Ice Cream. As expected, price growth moderated
further.
Emerging
markets (57% of Group turnover) grew underlying sales 2.9%, with
1.4% from volume and 1.5% from price. India grew 2.3% with volume
growth of 3.4%. Underlying price growth of (1.0)% in India lapped a
one-off indirect tax benefit in the prior year, without which Q3
UPG would have been flat. Latin America grew 3.8%. This slower rate
of growth reflected a decline in the laundry powders market in
Brazil and low-single digit growth in Mexico after eight quarters
of double-digit growth. Africa and Turkey continued to deliver
double-digit growth.
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.
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.
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.
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.
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.
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.
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.
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