Unilever Plc · LSE:ULVR
Unilever — Q1 2024 Earnings Presentation
17 slides from Unilever's earnings presentation, Apr 25, 2024
Slide 1: Q1 2024 Trading Statement
Unilever Q1 2024 Trading Statement Hein Schumacher & Fernando Fernandez 25 April 2024
Slide 2: Safe harbour statement
Q1 2024 TRADING STATEMENT Safe harbour 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 bu
Slide 3: Improved volume growth led by Power Brands
Q1 2024 TRADING STATEMENT Improved volume growth led by Power Brands Underlying sales growth +4.4%, with balanced volume and price Power Brands driving growth Growth across all Business Groups, led by Beauty & Wellbeing Full year 2024 guidance unchanged Good progress against Growth Action Plan 3
Slide 4: Fewer things, done better, with greater impact
Q1 2024 TRADING STATEMENT Fewer things, done better, with greater impact Growth Action Plan – Productivity programme Ice Cream separation Q1 progress Accelerated volumes Around €800m cost savings Creating two, simpler and more focused companies Step up in productivity to drive c.7,500 roles impacted
Slide 5: Sustainability: Focus on doing fewer things with greater impact
Q1 2024 TRADING STATEMENT Sustainability: Focus on doing fewer things with greater impact Climate Nature Plastics Livelihoods Resilient and regenerative An end to plastic pollution A decent livelihood for people Net zero emissions across through reduction, circulation in our value chain, including b
Slide 6: Power Brands driving improved volume growth
Q1 2024 TRADING STATEMENT Power Brands driving improved volume growth Q1 2024 Price and volume 4.4% USG 2.2% UVG 2.2% UPG UPG UVG USG 10.5% Power Brands led growth, with 6.1% USG and 3.8% UVG 7.9% Growth across all Business Groups 5.2% 4.7% 4.4% 10.7% 8.2% Volume growth continued to improve 5.8% 2.8
Slide 7: Beauty & Wellbeing
Q1 2024 TRADING STATEMENT Beauty & Wellbeing Strong first quarter performance with continued volume-led growth 7.4% USG 5.6% UVG 1.7% UPG UPG UVG USG 9.3% 8.8% 7.4% 7.9% 7.4% 2.6% 4.9% 3.6% 6.3% 5.6% Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Hair Care grew mid-single Skin Care grew mid-single Continued double-d
Slide 8: Personal Care
Q1 2024 TRADING STATEMENT Personal Care Good performance despite a tough comparator, particularly in North America 4.8% USG 1.4% UVG 3.4% UPG UPG UVG USG 12.7% 9.0% 8.0% 6.4% 4.8% 3.0% 3.4% 3.9% 2.5% 1.4% Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Deodorants grew double- Skin Cleansing flat with Oral Care contin
Slide 9: Home Care
Q1 2024 TRADING STATEMENT Home Care Good volume growth, partially offset by negative price in Fabric Cleaning 3.1% USG 4.3% UVG (1.1)% UPG UPG UVG USG 10.2% 6.7% 5.3% 4.3% 1.7% 3.1% (2.1)% 0.4% 0.8% (2.8)% Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Fabric Cleaning: good Fabric enhancers: volume Home & Hygiene gr
Slide 10: Nutrition
Q1 2024 TRADING STATEMENT Nutrition Price-led growth with improving volume trend 3.7% USG (0.4)% UVG 4.1% UPG UPG UVG USG 11.9% 8.9% 5.6% 4.7% 3.7% (1.3)% (2.6)% (3.8)% (1.1)% (0.4)% Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Hellmann’s powered by Knorr extended “Eat for UFS: double-digit growth, plant-based and
Slide 11: Ice Cream
Q1 2024 TRADING STATEMENT Ice Cream Revitalised plans in place ahead of key season 2.3% USG (0.9)% UVG 3.2% UPG UPG UVG USG 6.0% 5.6% 2.3% (2.8)% (0.4)% (4.1)% (5.8)% (0.8)% (0.9)% (10.1)% Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 In home: flat with modest Out of home: mid-single New Magnum variants price incre
Slide 12: Turnover up 1.4%, more than offsetting adverse currency and net disposals
Q1 2024 TRADING STATEMENT Turnover up 1.4%, more than offsetting adverse currency and net disposals Turnover 1.4% USG 4.4% A&D (0.9)% 2.2% 0.4% 2.2% (1.3)% (2.0)% €14.8bn €15.0bn Q1 2023 UVG UPG Acquisitions Disposals Currency Q1 2024 12
Slide 13: 2024 outlook
Q1 2024 TRADING STATEMENT 2024 outlook Growth Margin Capital returns Underlying sales growth for full Step up in productivity fuelling Attractive, sustainable dividend year 2024 to be within our Gross Margin expansion multi-year range of 3-5% €1.5bn share buyback Increased absolute Brand & Increasin
Slide 14: Q&A
Q1 2024 TRADING STATEMENT Q&A 14
Slide 15: Appendix
Q1 2024 TRADING STATEMENT Appendix 15
Slide 16: Regional performance
Q1 2024 TRADING STATEMENT Regional performance Q1 2024 underlying sales growth Europe 4.0% Underlying sales growth (1.5)% 5.5% UVG UPG Asia Pacific Africa North NorthAmerica America 3.6% 3.6% Underlying sales growth Underlying sales growth 2.4% 1.1% 1.4% 2.2% UVG UPG UVG UPG Latin America 9.5% Under
Slide 17: Other financial guidance for 2024
Q1 2024 TRADING STATEMENT Other financial guidance for 2024 Capex around 3% of turnover Restructuring around 1.2% of turnover Expected currency impact* on full year turnover similar to Q1 at (2.0)% Net finance costs 2.5% to 3% on average net debt Underlying effective tax rate around 25% Net debt aro