What’s behind Unilever’s first half results?

Our results for the first half of 2024 – which we announced on 25 July – show underlying sales growth of 4.1%, with volumes up 2.6%. We delivered our third consecutive quarter of positive, improving volume growth: up 2.9% in Q2 from 2.2% in Q1 and 1.8% in Q4 2023.

Our Power Brands – which now account for around 75% of Group turnover – performed strongly, with 5.7% underlying sales growth, driven by volume growth of 4.0%.

Here’s a look at the results highlights from each business group, and how innovation from our brands is driving performance.

Beauty & Wellbeing

Hair Care

Hair Care delivered mid-single-digit growth with positive volume and price. Our largest hair care brand, Sunsilk, grew double digit; supported by combing cream innovations across Latin America and the continued success of its 2023 relaunch. Dove grew high single digit, led by volume growth following the launch of Scalp + Hair Therapy, for improved scalp health and hair density. Clear and TRESemmé grew well with the continued expansion of our patented anti-dandruff shampoo and our new Lamellar Shine range.

Skin Care

Core Skin Care grew mid-single digit, led by strong volume growth in our top brands. Vaseline grew strong double digit, supported by its premium ranges, including Radiant X and Gluta Hya, which continue to be rolled out to new markets. Pond’s continued to deliver high single-digit growth, led by volume, following its 2023 relaunch.

Health & Wellbeing and Prestige Beauty

Health & Wellbeing and Prestige Beauty combined delivered double-digit growth for the 14th consecutive quarter. This was led by very strong growth in Health & Wellbeing, while softer growth in Prestige Beauty reflected a slowdown in the US beauty market. Liquid I.V. grew strong double digit with the continued success of its sugar-free variant, launch of new flavours supported by prominent social media campaigns and ongoing international roll-out.

Olly and Nutrafol contributed double-digit volume growth. In H1, Nutrafol extended into skin care with a daily supplement designed to address the root causes of acne and Olly drove good growth in China, supported by its focus on female health supplements. Tatcha and Hourglass grew double digit, while Paula’s Choice was affected by the market slowdown.

Personal Care

Deodorants

Deodorants continued to deliver double-digit growth, with high single-digit volume growth led by Europe and Latin America. Dove grew double digit with strong volumes and expanded into the Whole Body deodorants market.

Rexona and Axe contributed strong volume growth with continued momentum from our multi-year innovation platforms and our Fine Fragrance range.

Skin Cleansing

Skin Cleansing grew low single digit, with positive volume growth and price. Growth was tempered by deflation in India and market challenges in Indonesia. Dove delivered high single-digit growth, with good growth in Dove Men+Care. Europe grew double digit with mid-single-digit volume supported by Dove’s Body Wash relaunch. In the US, we launched a premium range of Dove Body Wash infused with skin care serums including hyaluronic acid, collagen and vitamin C.

Oral Care

Oral Care continued to grow mid-single digit, with positive volume and price. Close Up grew high single digit with positive volume.

Home Care

Fabric Cleaning

Fabric Cleaning grew low single digit, with low single-digit volume and negative price. Growth was supported by the launch of Persil Wonder Wash, with our patented Pro-S technology, the first-ever detergent designed for short cycle washes. This significant innovation has now been introduced in the UK, France and China and is on track to be rolled out to other key markets over the next 18 months. Europe grew double digit with strong volumes. India and Brazil grew volume while price declined, reflecting commodity deflation, notably in our powders portfolio.

Home & Hygiene

Home & Hygiene grew high single digit, with mid-single-digit volume and slightly positive price. Cif and Domestos grew double digit with double-digit volume. In H1, we expanded Domestos Power Foam to new markets and extended the range to include specialist solutions with long-lasting fragrance and limescale removal. Cif was supported by strong performances across Latin America in its cream and sprays portfolio.

Fabric Enhancers

Fabric Enhancers grew high single digit led by volume, slightly offset by negative price. Comfort grew high single digit, supported by the launch of our new Botanicals and Elixir ranges, with our patented CrystalFresh technology which delivers ten times more fragrance.

Nutrition

Scratch Cooking Aids

Scratch Cooking Aids grew mid-single digit with positive volume and price, led by Knorr. Growth was supported by double-digit performance in Latin America where Knorr’s innovation and marketing focus on local top dishes continues to drive growth across the portfolio.

Dressings

Dressings delivered low single-digit growth with positive volume and price. Hellmann’s grew mid-single digit with the continued strong performance of flavoured mayo that launched in additional markets and added new variants in North America and Europe. Brazil grew double digit which was enhanced by strategic partnerships, including our second year as a sponsor of the National Basketball Association in Brazil.

Unilever Food Solutions

Unilever Food Solutions grew high single digit with mid-single-digit volume, led by double-digit growth in China. Growth was driven by the latest edition of our Future Menu Trends report, sparking inspiration and sales in professional kitchens, and continued gains from our digital selling programme.

Ice Cream

Performance remains below our ambition, having been impacted by a soft start to the European key season and challenging market dynamics in China. In-home Ice Cream delivered flat price and volume, while out-of-home Ice Cream grew low single digit driven by price.

Wall’s grew mid-single digit with positive volume and price and Ben & Jerry’s was slightly up, while sales of Cornetto were adversely affected by the decline in China. Magnum launched its new ‘Pleasure Express’ range with three variants: Euphoria, Wonder and Chill.

Ice Cream continues to focus on operational improvements, including service and optimising promotions, while continuing to drive investment behind our brands and innovations.