| Volume-led growth, positive in all Business Groups |
| Third Quarter 2024 | Nine Months 2024 | |||||
| (unaudited) | USG | Turnover | vs 2023 | USG | Turnover | vs 2023 |
| Unilever | 4.5% | €15.2bn | -% | 4.3% | €46.4bn | 1.3% |
| Beauty & Wellbeing | 6.7% | €3.2bn | 5.5% | 7.0% | €9.8bn | 5.1% |
| Personal Care | 4.4% | €3.4bn | (5.7)% | 5.2% | €10.4bn | (1.6)% |
| Home Care | 1.9% | €3.0bn | (2.9)% | 2.8% | €9.3bn | -% |
| Nutrition | 1.5% | €3.2bn | (1.5)% | 2.6% | €9.9bn | 0.3% |
| Ice Cream | 9.8% | €2.4bn | 8.1% | 3.6% | €7.0bn | 3.9% |
Third quarter highlights
• Underlying sales growth (USG) of 4.5%, with volume growth increasing to 3.6%
• Power Brands (>75% of turnover) leading growth with 5.4% USG and volumes up 4.3%
• Turnover of €15.2 billion with (2.8)% impact from currency and (1.5)% from net disposals
• 2024 full year outlook unchanged with 3-5% USG and an underlying operating margin of at least 18%
• Final tranche underway of 2024 share buyback programme of up to €1.5 billion
• Productivity programme and separation of Ice Cream on track
Chief Executive Officer statement
“We have delivered a fourth consecutive quarter of positive, improved volume growth, with each of our Business Groups driving higher volumes year-on-year.
Underlying sales grew 4.5%, led by our Power Brands, with particularly strong performances from Dove, Liquid I.V., Comfort and Magnum. Price growth continued to moderate in line with our expectations.
We are still in the early stages of transforming our performance as we execute the Growth Action Plan at pace – focused on doing fewer things, better and with greater impact. We are starting to see the positive impact from scaling fewer, bigger innovations across our markets supported by increased brand investment. We are taking decisive actions, where we see operational or market challenges to ensure we are well positioned for consistent and improved performance. As part of the Group’s overall transformation, we are implementing a comprehensive productivity programme and the separation of Ice Cream, both of which are progressing as planned.
We are on track to deliver our 2024 outlook and are confident that the steps we are taking will help to transform Unilever over time into a consistently higher performing business.”
Hein Schumacher
| Outlook |