Unilever Plc · LSE:ULVR
Unilever — Q1 2025 Earnings Presentation
17 slides from Unilever's earnings presentation, Apr 24, 2025
Slide 1: Q1 2025 Trading Statement
Q1 2025 Trading Statement Fernando Fernandez & Srinivas Phatak 24 April 2025
Slide 2: Safe harbour statement
Safe harbour statement This presentation may contain forward-looking statements within the meaning of the securities laws of certain jurisdictions, including ‘forward-looking statements’ within the meaning of the United States Private Securities Litigation Reform Act of 1995. All statements other th
Slide 3: Good momentum and portfolio to deal with volatility
Good momentum and portfolio to deal with volatility 1 Our unwavering priority is driving growth 2 Investing behind our strongest growth opportunities 3 Quality of innovation driving outperformance in developed markets 4 Targeted and decisive action in select emerging markets 5 Limited direct impact
Slide 4: Resilient performance in softer markets
Resilient performance in softer markets Unilever Power Brands Volume and price 3.0% 3.0% UPG UVG USG Underlying sales growth Underlying sales growth 4.4% 4.5% 4.0% 3.9% 3.0% 1.3% Underlying volume growth 1.2% Underlying volume growth 2.2% 2.9% 3.6% 2.7% 1.3% 1.7% Underlying price growth 1.8% Underly
Slide 5: Continued investment behind Power Brands
Continued investment behind Power Brands Power Brands Growth >4% Power Brands Below UL Average Beauty & Wellbeing Personal Care Ice Cream Home Care Foods + Growth supported by premium innovations - Lower Home Care growth from destocking in Brazil and resets to our businesses in China & Indonesia + D
Slide 6: Beauty & Wellbeing €3.3bn turnover
Beauty & Wellbeing €3.3bn turnover Strong Wellbeing performance offset a softer beauty market Q1 2025 UPG UVG USG 4.1% Underlying sales growth 7.4% 6.8% 6.7% 5.2% 4.1% 2.5% Underlying volume growth 5.6% 5.4% 5.7% 3.9% 2.5% 1.5% Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Underlying price growth Prestige Beauty de
Slide 7: Personal Care €3.3bn turnover
Personal Care €3.3bn turnover Sustained strong performance led by Dove, backed by strong innovation Q1 2025 UPG UVG USG 5.1% Underlying sales growth 6.4% 4.8% 5.3% 5.1% 4.4% 2.7% Underlying volume growth 1.4% 4.4% 3.1% 3.6% 2.7% 2.4% Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Underlying price growth Dove grew hi
Slide 8: Home Care €3.0bn turnover
Home Care €3.0bn turnover Gaining market share, but growth impacted by macroeconomic weakness Q1 2025 UPG UVG USG 0.9% Underlying sales growth 3.1% 3.4% 3.0% 1.9% 1.0% 0.9% 4.3% 4.9% 3.3% 3.3% Underlying volume growth 1.0% Flat Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Underlying price growth Outperforming mark
Slide 9: Foods €3.4bn turnover
Foods €3.4bn turnover Competitively resilient performance amidst slowing markets Q1 2025 UPG UVG USG 1.6% Underlying sales growth 3.7% 2.7% 2.6% 1.5% 1.6% (1.1)% (0.4)% 0.4% 0.4% 0.5% (1.1)% Underlying volume growth 2.7% Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Underlying price growth Good retail performance i
Slide 10: Ice Cream €1.8bn turnover
Ice Cream €1.8bn turnover Building strong foundations for the summer season Q1 2025 UPG UVG USG 4.0% Underlying sales growth 9.8% 4.3% 4.0% 2.3% 1.8% (0.5)% Underlying volume growth 1.8% (0.9)% (1.1)% 6.7% 2.2% 2.2% Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Underlying price growth Magnum grew mid-single Ben & J
Slide 11: Sustained strength in DMs offset specific challenges in some EMs
Sustained strength in DMs offset specific challenges in some EMs North America 22% of Group turnover 6.2% Europe 20% of Group turnover 3.2% Underlying sales growth 4.0% Underlying volume growth Underlying sales growth 2.1% 3.0% Underlying volume growth Underlying price growth 0.2% Underlying price g
Slide 12: Q1 2025 turnover (0.9)% including (2.7)% from net disposals
Q1 2025 turnover (0.9)% including (2.7)% from net disposals (0.9)% USG 3.0% A&D (2.7)% 1.7% 0.1% 1.3% (2.8)% (1.1)% €14.8bn €15.0bn Q1 2024 UVG UPG Acquisitions Disposals Currency Q1 2025 turnover turnover 12
Slide 13: Ice Cream separation on track to complete by end of 2025
Ice Cream separation on track to complete by end of 2025 Separated by way of demerger via listings in Amsterdam, London and New York Operational separation of the business by 1st July, reported as a discontinued operation from Q4 Capital Markets Day on 9th September 13
Slide 14: We reconfirm our full year 2025 financial outlook
We reconfirm our full year 2025 financial outlook Underlying sales growth for full year 2025 to be within our Growth range of 3-5% Modest improvement in full year underlying operating margin Margin Margins in H1 and H2 will be more balanced than in 2024 14
Slide 15: Solid fundamentals underpinning full year delivery
Solid fundamentals underpinning full year delivery What gives us confidence Where risk lies Resilient, diversified portfolio across + geographies, categories and price points Strong innovation pipeline driving long- - Macroeconomic deterioration + term competitiveness + Stepped up execution supporte
Slide 16: Q&A
Q&A
Slide 17: Other financial guidance for 2025
Other financial guidance for 2025 Capex above 3% of turnover Restructuring around 1.4% of turnover Net finance costs around 3% on average net debt Underlying effective tax rate around 26% Leverage of around 2x net debt / underlying EBITDA Currency impact1 on full year expected to be arou