Innovation and brand investment driving faster volume growth
4.1%underlying sales growth
2.6%underlying volume growth
€6.1bnunderlying operating profit+17.1% versus H1 2023
16.3%underlying EPS growth
Underlying sales growth (USG)
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Underlying volume growth (UVG)
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Underlying price growth (UPG)
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First half 2024 highlights
Underlying sales growth of 4.1%, with volumes up 2.6%
Power Brands (~75% of turnover) leading growth with 5.7% USG and volumes up 4.0%
Turnover increased 2.3% to €31.1 billion with -1.1% impact from currency and -0.7% from net disposals
Underlying operating margin up 250bps to 19.6%, with gross margin up 420bps
Brand and marketing investment up 180bps to 15.1%, focused on Power Brands
Underlying EPS increased 16.3%, diluted EPS up 5.4%
Quarterly dividend raised by 3%; €1.5bn share buyback commenced
Free cash flow of €2.2 billion, reflecting seasonal working capital outflow
Productivity programme underway and separation of Ice Cream on track
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
“We are focused on driving high-quality sales growth and gross margin expansion, led by our Power Brands. Over the first half, we made progress on those ambitions. We remain focused on transforming Unilever into a consistently higher performing business.”
