Improved performance led by volume growth and gross margin expansion
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4.2%underlying sales growth
2.9%underlying volume growth
12.6%underlying operating profit growth
14.7%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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Full year 2024 highlights:
Underlying sales growth of 4.2%, led by 2.9% volume growth
Turnover increased 1.9% to €60.8 billion with -0.7% impact from currency and -1.5% from net disposals
Power Brands (>75% of turnover) leading growth with 5.3% USG and volumes up 3.8%
Brand and marketing investment up 120bps to 15.5%, its highest level in over a decade
Underlying operating margin up 170bps to 18.4%, with gross margin up 280bps
Underlying EPS increased 14.7%; diluted EPS decreased 10.6% due to loss on disposals and accelerated productivity programme spend
Cash conversion of 106% with free cash flow of €6.9 billion; underlying ROIC up 190bps to 18.1%
Quarterly dividend raised by 6.1% vs Q4 2023; new €1.5 billion share buyback announced
Ice Cream separation 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 2024 financial year Beauty & Wellbeing had a combined turnover of €13.2 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
USA
Turkey
Germany
UK
Mexico
“Today’s results reflect a year of significant activity as we focused on transforming Unilever into a consistently higher performing business. All Business Groups delivered positive volume growth for the year. The steps we have taken in 2024, including the launch of our refreshed GAP2030 strategy, further reinvestment in our brands and strong innovation pipelines leave us better positioned to deliver on our ambitions in the years ahead.”
