Unilever PLC (ULVR) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello and welcome to Unilever's full year results announcement. Thank you for joining us. In a moment, Srini Patak, our Chief Financial Officer, will take you through a detailed breakdown of Unilever results for 2025. But before that, I would like to share with you a few reflections on our performance last year. Let me start by saying that we have delivered a solid year, fully in line with our commitments, despite challenging conditions. When I took over as CEO, I made clear that one of my biggest priorities was to ensure that in Unilever we could both perform and transform. 2025 has demonstrated our ability to do both. We deliver a good performance, delivering competitive volume growth, positive mix and gross margin expansion, with sequential improvement throughout the year. We sharpened the portfolio. The successful demerger of ice cream, combined with 10 deals, including acquisitions like Minimalist, Wild and Dr. Squash, and the disposal of several non-strategic brands, means that we have rotated 15% of the total portfolio in 2025. we have significantly elevated the offering of our brands, stepping up their functionality, their aesthetics, their sensorials. Strong innovation plans and a decisive shift to social first demand generation models also contributed to a strong improvement in the admissible brand superiority scores of our brands, a key reason for our ability to outperform markets. This is then powered by another increase in our brand and marketing investment. We improve our execution, reflected by our continuing strengths in developed markets and our improved performance in emerging markets, including the successful operational results in key markets like Indonesia and China. We have also acted decisively to correct performance gaps in areas like home car...