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Full Year 2024 Results Overview

Improved performance led by volume growth and gross margin expansion

Summary

A range of Unilever products being used.

Detailed description

A bottle of Comfort Scent Booster Elixir surrounded by flowers and petals cuts to a view of someone wearing purple pyjamas falling onto a bed.

A tub of Magnum Bon Bons on a desk with a book open in the background. Someone wearing rings with painted nails takes a Bon Bon from the tub. They bite into the Bon Bon with their eyes closed.

Hellmann’s mayonnaise is being added to a burger with lettuce and tomato on top. It’s then added to a bagel with ham, cheese, lettuce and tomato on it. Several hands are then shown in the air – some holding items of food with mayonnaise on them and one holding a bottle of Hellmann’s ‘Supreme’. The words “Hellmann’s Supreme” are shown on screen.

A man, crouching down, rips open a sachet of Liquid I.V. We then see a bottle of water with some powder dissolving into it which the man then drinks.

A girl in a supermarket aisle, holding a can of Sure whole body deo is reading the information on the can. We then see a row of six products from the Sure whole body deo range – three with dark grey packaging and three with white – on a surface in a bathroom. The words “All day odour protection”, the Sure logo and the strapline “It won’t let you down” are shown on screen.

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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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A woman with dark hair closes her eyes as she lifts a fork loaded with Knorr Mini meal Carbonara Pasta.

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%
A photo of three Dove whole-body deodorants: one cream, one stick and one spray. Packaging is white with pastel lettering.
  • 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
  Three bottles of Wonder Wash, Unilever’s laundry detergent innovation designed specifically for quick washes.
  • 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
A row of six Nutrafol hair and skin supplement products arranged in a row on a table. Five products are white, one is black.

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.

Our best-known Beauty & Wellbeing brands

Dove pack illustration

Dove

Change beauty into a positive experience for every woman and the next generation

Sunsilk  pack illustration

Sunsilk

Opening up possibilities for girls everywhere

Vaseline pack illustration

Vaseline

Everyone, everywhere deserves healthy, beautiful skin

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. India
  3. China
  4. Brazil
  5. Mexico
Personal Care

Consists of Skin Cleansing, Deodorants and Oral Care. Expand to view more.

In the 2024 financial year Personal Care had a combined turnover of €13.6 billion.

Our best-known Personal Care brands

Axe pack shot

Axe

Smell finer than the finest fragrances

Dove pack shot

Dove

Change beauty into a positive experience for every woman and the next generation

Lifebuoy pack shot

Lifebuoy

We help parents ensure their kids fall ill less often

Lux pack shot

LUX

Empowering women to find strength in their beauty and rise above the judgements they face

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. Brazil
  3. India
  4. UK
  5. Indonesia
Home Care

Consists of Fabric Cleaning, Home & Hygiene and Fabric Enhancers. Expand to view more.

In the 2024 financial year Home Care had a combined turnover of €12.3 billion.

Our best-known Home Care brands

Cif pack shot

Cif

More than just clean

OMO pack shot

OMO

Dirt Is Good!

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. India
  2. Brazil
  3. China
  4. UK
  5. South Africa
Foods

Consists of Scratch Cooking Aids, Dressings, Beverages and Functional Nutrition (including Horlicks and Boost). Expand to view more.

In the 2024 financial year Foods had a combined turnover of €13.4 billion.

Our best-known Foods brands

Knorr pack shot

Knorr

Reinventing Food for Humanity

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. India
  3. China
  4. Netherlands
  5. UK
Ice Cream

Consists of Ice Cream, both in-home and out-of-home. Expand to view more.

In the 2024 financial year Ice Cream had a combined turnover of €8.3 billion.

Our best-known Ice Cream brands

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. Mexico
Hein Schumacher

“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.”

Hein Schumacher, Chief Executive Officer

Unilever logo next to the title "Unilever Investor Event, 22 November 2024" on a blue and green coloured background.

Unilever Investor Event 2024

Progress through the Growth Action Plan, our commitment to consistently higher performance and updates from the Business Groups.

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