Business
2025 Full Year Results
Unilever reported full-year 2025 results with underlying sales growth of 3.5%, driven by 1.5% volume growth, and turnover of €50.5 billion, down 3.8% due to adverse currency movements and net disposals. The company achieved a strong gross margin of 46.9%, up 20 basis points, and underlying operating margin expansion to 20.0%, up 60 basis points. Underlying earnings per share increased by 0.7% to €3.08, while diluted EPS rose 6.2% to €2.59. Free cash flow was €5.9 billion, and the company announced a new €1.5 billion share buyback program and a 3% increase in its quarterly dividend. The Ice Cream business was demerged, and ten portfolio transactions were completed or announced since the start of 2025. For 2026, Unilever anticipates underlying sales growth between 4% and 6%, with at least 2% underlying volume growth, and a modest improvement in underlying operating margin. Disclaimer*
About this update from Unilever Plc
[{"type":"text","content":"\n\n2025 Full Year Results\nSharper focus and disciplined execution driving competitive performance\nFull Year Key Highlights\n• Underlying sales growth (USG) 3.5%, with 1.5% volume growth; stronger fourth quarter USG of 4.2%, with 2.1% volume\n• Turnover €50.5 billion, down (3.8)%; with adverse currency (5.9)% and net disposals (1.2)%\n• Power Brands (78% of turnover) leading growth with 4.3% USG and volume up 2.2%\n• Strong gross margin 46.9%, up 20bps, supporting brand & marketing investment up 10bps to 16.1%\n• Underlying operating margin expansion to 20.0%, up 60bps, driven by disciplined overhead management\n• Underlying EPS increased 0.7%; diluted EPS increased 6.2%\n• Productivity programme delivering ahead of plan, with cumulative c.€670 million savings by end of 2025\n• 100% cash conversion with FCF of €5.9 billion; down €0.4 billion primarily due to Ice Cream demerger costs\n• Quarterly dividend raised 3% vs third quarter 2025\n• New €1.5 billion share buyback announced\n• Further portfolio transformation; Ice Cream demerged and 10 transactions closed or announced since start of 2025\nNote: Following the demerger of the Ice Cream Business, all figures are on a continuing basis, which excludes Ice Cream, unless specifically noted.\nFull Year Key Figures\n \n\n\n\n\nUnderlying performance\n\n\n\n\n\n\n\n\nGAAP measures\n\n\n\n\n(unaudited)\n\n\n2025\n\n\nvs 2024(b)\n\n\n\n\n\n\n\n\n\n\n\n2025\n\n\nvs 2024(b)\n\n\n\n\nFull Year\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nUnderlying sales growth (USG)\n\n\n \n\n\n3.5%\n\n\n\n\n\n\n\n\nTurnover\n\n\n50.5bn\n\n\n(3.8)%\n\n\n\n\nBeauty & Wellbeing\n\n\n \n\n\n4.3%\n\n\n\n\n\n\n\n\nBeauty & Wellbeing\n\n\n€12.8bn\n\n\n(2.3)%\n\n\n\n\nPersonal Care\n\n\n \n\n\n4.7%\n\n\n\n\n\n\n\n\nPersonal Care\n\n\n€13.2bn\n\n\n(3.4)%\n\n\n\n\nHome Care\n\n\n \n\n\n2.6%\n\n\n\n\n\n\n\n\nHome Care\n\n\n€11.6bn\n\n\n(6.4)%\n\n\n\n\nFoods\n\n\n \n\n\n2.5%\n\n\n\n\n\n\n\n\nFoods\n\n\n€12.9bn\n\n\n(3.2)%\n\n\n\n\nUnderlying ...