Unilever Plc · LSE:ULVR
Unilever — Q1 2026 Earnings Presentation
23 slides from Unilever's earnings presentation, Apr 30, 2026
Slide 1: Q1 2026 Trading Statement
Q1 2026 Trading Statement Fernando Fernandez & Srinivas Phatak 30 April 2026 1
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 start to the year with strong volume growth
Good start to the year with strong volume growth 1 Strong volume-led growth 3.8% USG with 2.9% volume growth 2 Broad-based growth across categories; led by Power Brands 5% USG with 4% volume growth 3 Emerging market momentum led by strong growth in India & good recovery in Latin America 4 Resi
Slide 4: Strong volume-led growth driven by Power Brands
Strong volume-led growth driven by Power Brands Unilever Power Brands Unilever Volume and Price 3.8% Underlying sales growth 5.0% Underlying sales growth UPG UVG USG 4.0% 4.2% 3.8% 2.9% 3.1% 2.9% Underlying volume growth 4.0% Underlying volume growth 1.2% 1.1% 1.7% 2.1% 2.9% 0.9% Underlying price gr
Slide 5: Beauty & Wellbeing €3.1bn turnover
Beauty & Wellbeing €3.1bn turnover Continued strength in Dove and Vaseline, good momentum in prestige brands Q1 2026 UPG UVG USG 3.6% Underlying sales growth 5.1% 4.7% 4.1% 3.4% 3.6% 1.9% 1.0% 1.9% Underlying volume growth 2.5% 2.3% 2.8% 1.6% Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Underlying price growth Hai
Slide 6: Personal Care €3.3bn turnover
Personal Care €3.3bn turnover Strong growth in Deodorants and the US led to sequential volume improvement Q1 2026 UPG UVG USG 3.7% Underlying sales growth 5.1% 4.5% 5.1% 4.1% 3.7% 1.1% Underlying volume growth 2.7% 0.2% 1.0% 0.6% 1.1% 2.5% Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Underlying price growth North
Slide 7: Home Care €3.0bn turnover
Home Care €3.0bn turnover Strong volume growth led by emerging markets Q1 2026 UPG UVG USG 6.1% Underlying sales growth 6.1% 4.7% 3.1% 1.8% 6.2% 0.9% Underlying volume growth 1.0% 1.3% 2.5% 4.0% 6.2% (0.1)% Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Underlying price growth Brazil delivered double-digit Fabric Cl
Slide 8: Foods €3.2bn turnover
Foods €3.2bn turnover Volume-led growth across retail and food service Q1 2026 UPG UVG USG 2.2% Underlying sales growth 2.8% 3.4% 1.6% 2.3% 2.2% 2.4% Underlying volume growth 1.7% 1.3% 1.3% 2.4% (1.1)% (0.2)% Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Underlying price growth Hellmann’s grew volumes Unilever Food
Slide 9: Broad-based momentum across emerging markets
Broad-based momentum across emerging markets Asia Pacific Africa Latin America 45% of Group turnover 16% of Group turnover 5.9% 6.2% • India accelerated to 7% with • Return to volume growth with broad-based volume-led momentum growth Underlying sales growth Q1 2026 Underlying sales growth Q1 2026 •
Slide 10: North America resilient; Europe remained subdued
North America resilient; Europe remained subdued North America Europe 22% of Group turnover 18% of Group turnover 2.1% (0.9)% • Personal Care grew mid-single • Performance reflects soft digit with strong volume growth market environment in deodorants and skin cleansing Underlying sales growth Q1 202
Slide 11: Underlying growth remains strong; FX to improve through the year
Underlying growth remains strong; FX to improve through the year Turnover (3.3)% A&D 0.9% USG 3.8% 1.4% 0.9% (0.5)% 2.9% (7.7)% €13.0bn €12.6bn FY 2026 currency impact (3)%1 Q1 2025 UVG UPG Acquisitions Disposals Currency Q1 2026 turnover turnover 11 11 1) Guidance based on spot rates in April
Slide 12: Full year 2026 outlook remains unchanged
Full year 2026 outlook remains unchanged Growth Capital Returns • USG to be at bottom end of our multi-year • €1.5bn share buyback guidance range of 4% to 6% commencing today to complete on or before • At least 2% underlying volume growth 6 July 2026 • Sustained, attractive and growing dividends Mar
Slide 13: Building a simpler, sharper, faster Unilever
Building a simpler, sharper, faster Unilever Elevating our brands and performance though Desire at Scale Driving operational excellence Decisive portfolio action to unlock value 13 13
Slide 14: Elevating our brands; operating with excellence
Wonder Wash Flavoured Mayo ~€ 2bn > 10% ~€ 200m ~€ 100m incremental TO last 5 years 5-year CAGR annualised turnover annualised turnover Elevating our brands Operating with excellence 14 14
Slide 15: Decisive portfolio action to unlock value
Decisive portfolio action to unlock value + + Focused HPC pureplay + A global flavour powerhouse + 90% turnover in #1 or #2 positions + Revenue growth potential + Proven top-tier volume growth + $600m net cost synergies + Valuation upside + Optionality for shareholders 15 15
Slide 16: Separation progressing at pace with strong execution discipline
Separation progressing at pace with strong execution discipline + Separation and integration preparation underway + Dedicated teams in place with proven expertise + Alignment with McCormick on priorities and timelines + End-to-end workstreams mobilised + Expected to close by mid-2027 at the latest 1
Slide 17: Perform and transform
Perform and transform 1 Volume-led Q1 growth, driven by Power Brands and Emerging Markets 2 Disciplined execution, amid heightened macroeconomic uncertainty 3 Full year 2026 outlook remains unchanged 4 Reshaping our portfolio to enhance focus and growth 17 17
Slide 18: Ontwev
Ontwev
Slide 19: Other financial guidance for 2026
Other financial guidance for 2026 • Capex above 3% of turnover • Restructuring at around 1.0% of turnover • Net finance costs less than 3% on average net debt • Underlying effective tax rate to remain around 26% • Leverage of around 2x net debt / underlying EBITDA • Currency impact1 on full year exp
Slide 20: Unilever Foods-McCormick Combination – Supporting Information
Unilever Foods-McCormick Combination – Supporting Information The following information was included in materials released on 31st March 2026, as part of the announcement of the combination of Unilever Foods with McCormick, or today as part of our first quarter trading statement: Shareholding struct
Slide 21: Unilever Foods-McCormick Combination – Supporting Information
Unilever Foods-McCormick Combination – Supporting Information The following information was included in materials released on 31st March 2026, as part of the announcement of the combination of Unilever Foods with McCormick, or today as part of our first quarter trading statement: Use of cash proceed
Slide 22: Unilever Foods-McCormick Combination – Supporting Information
Unilever Foods-McCormick Combination – Supporting Information The following information was included in materials released on 31st March 2026, as part of the announcement of the combination of Unilever Foods with McCormick, or today as part of our first quarter trading statement: Synergies • The com
Slide 23: Unilever Foods-McCormick Combination – Supporting Information
Unilever Foods-McCormick Combination – Supporting Information The following information was included in materials released on 31st March 2026, as part of the announcement of the combination of Unilever Foods with McCormick, or today as part of our first quarter trading statement: Stranded Costs • Un