| Today, we (Unilever) announced our results for the third quarter of 2024 |
- Underlying sales growth (USG) of 4.5%, with volume growth increasing to 3.6%
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- Power Brands, generating more than 75% of turnover, leading growth with 5.4% USG and volumes up 4.3%
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- Turnover of €15.2 billion with -2.8% impact from currency and -1.5% from net disposals
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- The 2024 full-year outlook unchanged with 3–5% USG and an underlying operating margin of at least 18%
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- The final tranche underway of the 2024 share buyback programme of up to €1.5 billion
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- Productivity programme and separation of Ice Cream on track
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| Statement from Hein Schumacher, CEO |
| “We have delivered a fourth consecutive quarter of positive, improved volume growth, with each of our Business Groups driving higher volumes year-on-year. |
| “Underlying sales grew 4.5%, led by our Power Brands, with particularly strong performances from Dove, Liquid I.V., Comfort and Magnum. Price growth continued to moderate in line with our expectations. |
| “We are still in the early stages of transforming our performance as we execute the Growth Action Plan at pace – focused on doing fewer things, better and with greater impact. We are starting to see the positive impact of scaling fewer, bigger innovations across our markets supported by increased brand investment. We are taking decisive actions, where we see operational or market challenges to ensure we are well-positioned for consistent and improved performance. |
| “As part of the Group’s overall transformation, we are implementing a comprehensive productivity programme and the separation of Ice Cream, both of which are progressing as planned. |
| “We are on track to deliver our 2024 outlook and are confident that the steps we are taking will help to transform Unilever over time into a consistently higher performing business.” |
| Outlook |
| Our full-year 2024 outlook is unchanged. |
| We continue to expect underlying sales growth (USG) for 2024 to be within our multi-year range of 3% to 5%, with the majority of the growth being driven by volume. |
| The underlying operating margin for the full year is expected to be at least 18%, with increasing investment behind our brands. We expect the year-on-year margin progression in the second half to be smaller than in the first half. |
| For the full document click the link below: |
| Unilever |
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