7.0%underlying sales growthincrease compared to 2022
6.8%price growthwith volume up 0.2%
16.7%underlying operating margin+60bps increase compared to 2022
8.6%underlying sales growthdelivered by our 30 Power Brands
Underlying sales growth (USG)
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Underlying volume growth (UVG)
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Underlying price growth (UPG)
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Full year highlights
Underlying sales growth of 7.0% with positive volumes, up 0.2% for the FY and 1.8% in Q4
Turnover of €59.6 billion with -5.7% impact from currency and -1.7% from net disposals
Underlying operating margin up 60bps to 16.7%, with gross margin up 200bps for the year and up 330bps in the second half
Underlying EPS increased 1.4% with -9.6% of adverse currency, up 11% on a constant basis
Diluted EPS down -14.2% against prior year that included €2.3 billion profit on disposal for the Tea business
Strong cash conversion of 111% with free cash flow up €1.9 billion to €7.1 billion
New €1.5 billion share buyback to commence in Q2
Progress against Growth Action Plan
New leadership team has embedded the plan across the organisation
30 Power Brands (around 75% of turnover) accretive to growth and margin, with underlying sales up 8.6%
Brand and marketing investment up 130bps to 14.3%, focused on 30 Power Brands
Active portfolio optimisation into premium segments, announced acquisitions of K18 and Yasso and disposals of Elida Beauty, Dollar Shave Club, Suave in North America
Our Business Groups
Our brands operate in five Business Groups, each fully responsible and accountable for its strategy, growth, and profit delivery globally.
Beauty & Wellbeing
Consists of Hair Care, Skin Care, Prestige Beauty and Health & Wellbeing (including the vitamins, minerals and supplements business). Expand to view more.
In the 2023 financial year Beauty & Wellbeing had a combined turnover of €12.5 billion.
Geographical footprint – split by geographical area
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Geographical footprint – Emerging versus Developed Markets
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Geographical footprint - Top 5 countries
1. USA 2. Turkey 3. Germany 4. UK 5. China
"2023 Full Year results show an improving financial performance, with the return to volume growth and margins rebuilding. We are moving with speed and urgency to transform Unilever into a consistently higher performing business.”
increase compared to 2022
