UNILEVER TRADING STATEMENT THIRD QUARTER 2018
|
IMPROVED
GROWTH ACROSS ALL DIVISIONS
|
Performance highlights
|
Underlying performance
|
GAAP measures
|
|
|
|
vs 2017
|
|
|
vs 2017
|
|
Third
quarter
|
|
|
|
|
|
|
Underlying
sales growth (USG)(a)
|
|
3.8%
|
Turnover(b)
|
€12.5bn
|
(4.8)%
|
|
Nine
months
|
|
|
|
|
|
|
USG(a)
|
|
2.9%
|
Turnover(b)
|
€38.7bn
|
(5.3)%
|
|
USG
excluding spreads(a)
|
|
3.1%
|
Turnover
excluding spreads(b)
|
€37.3bn
|
(3.6)%
|
|
Quarterly
dividend payable in December
2018
€0.3872 per share
|
(a) These
amounts do not include price growth in Venezuela and do not include
price growth in Argentina from 1 July 2018 onwards. See pages 5 - 7
for further details.
(b)
IAS29 'Financial Reporting in Hyperinflationary Economies' has been
adopted in Argentina and accordingly turnover previously reported
has been restated.
Third quarter highlights
●
Underlying sales growth
3.8% with volume 2.4% and price 1.4%
●
Price growth in
Argentina is excluded from Q3 USG due to hyperinflationary status.
Reported growth would otherwise have been 4.5%
●
Growth was high quality with an
improvement in all three Divisions and strong volume growth in Asia
AMET RUB
●
Turnover was impacted by an adverse
translational currency impact of 5.2%
●
The net impact of acquisitions and
disposals, which included the spreads disposal, reduced turnover by
3.3%
|
Paul
Polman: Chief Executive Officer statement
|
"Growth accelerated in the third quarter across all Divisions. We
were able to increase prices whilst still maintaining good volume
growth which reflects the strength of our brands and quality of our
innovation programme. Our focus s building our business for the
long-term continues to deliver high quality growth.
We are progressively reaping the benefits of our Connected for
Growth programme, which is now well embedded throughout the
organisation, making us simpler, faster and better connected with
our consumers. It is helping us accelerate growth in Asia AMET RUB,
manage through the economic volatility in Latin America and shift
our portfolio into faster growing segments and channels in all of
our markets. Our innovation pipeline continues to strengthen and in
the third quarter alone we have launched four new brands. We have
now successfully completed the disposal of our spreads business and
continue the acceleration of our efficiency
programmes.
We continue to expect underlying sales growth in the 3% - 5% range,
an improvement in underlying operating margin and strong cash flow.
We remain on track for our 2020 goals."
18 October 2018
THIRD QUARTER OPERATIONAL REVIEW: DIVISIONS
|
|
Third
Quarter 2018
|
Nine
Months 2018
|
|
(unaudited)
|
Turnover
|
USG*
|
UVG
|
UPG*
|
Turnover
|
USG*
|
UVG
|
UPG*
|
|
|
€bn
|
%
|
%
|
%
|
€bn
|
%
|
%
|
%
|
|
Unilever
|
12.5
|
3.8
|
2.4
|
1.4
|
38.7
|
2.9
|
2.3
|
0.6
|
|
Beauty &
Personal Care
|
5.2
|
4.0
|
2.8
|
1.2
|
15.2
|
3.1
|
2.9
|
0.2
|
|
Home
Care
|
2.5
|
4.5
|
1.5
|
3.0
|
7.5
|
3.9
|
2.6
|
1.2
|
|
Foods &
Refreshment
|
4.8
|
3.2
|
2.5
|
0.7
|
16.0
|
2.2
|
1.6
|
0.6
|
* Wherever referenced in this announcement, USG
and UPG do not include price growth in
Venezuela and do not include price growth in Argentina from 1 July
2018 onwards. See pages 5 - 7 for further
details.
As previously announced the disposals of our spreads businesses
were completed on 2 July 2018. The table below provides information
on the first nine months of 2018 performance excluding sales
related to spreads.
|
|
Nine
Months 2018
|
|
(unaudited)
|
Turnover
|
USG
|
UVG
|
UPG
|
|
|
€bn
|
%
|
%
|
%
|
|
Unilever excluding
spreads
|
37.3
|
3.1
|
2.5
|
0.6
|
|
Foods
& Refreshment excluding spreads
|
14.6
|
2.7
|
2.0
|
0.6
|
Our markets: In the
markets in which we operate growth improved slightly with a higher
contribution from price as a result of rising commodity costs in
local currencies, particularly in emerging markets. There has been
significant devaluation in Argentina and the economy is now
considered to be hyperinflationary, so price growth from Argentina
is excluded from underlying sales growth from 1 July 2018
onwards.
Unilever overall performance: In the third quarter, underlying sales
growth increased to 3.8% with growth accelerating across all three
Divisions. Price growth picked up as expected, and volume remained
strong reflecting the strength of our brands and our accelerated
innovation programme. Underlying sales in emerging markets grew by
5.6% led by competitive growth in Asia AMET RUB. Growth in Latin
America was adversely impacted by significant volume decline in
Argentina, whilst price growth, which would have contributed 70bps
to total Unilever, has been excluded from USG. Brazil recovered
after the truckers' strike that severely affected sales in second
quarter. Turnover decreased 4.8% to €12.5 billion, which
included an adverse currency impact of (5.2)% and (3.3)% from
acquisitions and disposals mainly driven by the disposal of
spreads.
Beauty & Personal Care
Beauty & Personal Care underlying sales growth of 4.0% was
helped by improved price growth. Skin care continued with strong
growth momentum, helped by innovations
including Citra's new naturals range. Ponds launched new premium formats such as a
cleansing balm to remove make-up and moisturise. Skin cleansing
performed well driven by the continued success of premium formats
including the launch of foaming shower gels. In deodorants, price
returned to growth and volumes were helped by purpose-led campaigns
on Dove
Men+Care and Rexona. In hair care, whilst promotional intensity
remained high, Dove had a good quarter driven by the roll-out of
a new naturals range and the launch of 'super' conditioners to
reduce hair damage in just one minute. In oral care, sales were
slightly down as market conditions remained challenging in France,
Indonesia and Brazil. Growth in prestige accelerated with
double-digit growth in Hourglass, Kate
Sommerville, Living Proof and REN. Love, Beauty &
Planet, the largest of our new
brand launches, was extended into deodorants and skin care this
quarter and the new brand K-Bright was launched in South East Asia to address
the fast-growing Korean beauty trend.
Home Care
Home Care underlying sales growth in the quarter was 4.5%. Growth
was broad-based, helped by stronger pricing and the recovery from
the truckers' strike in Brazil. Home and hygiene performed well
driven by good performances from Cif premium sprays and Sunlight, which was relaunched with more natural
ingredients. In fabric solutions, growth was driven by strong
performance of liquids in emerging markets, including the continued
success of Surf Excel
Matics in India and
we also launched a new brand Day 2, an innovative dry wash spray. Growth in fabric
sensations was led by continued momentum in key markets India and
China, the launch of Comfort into Germany and innovations such
as Comfort Perfume
Deluxe in South East Asia
and the UK.
Foods & Refreshment
Foods & Refreshment underlying sales growth in the quarter
improved to 3.2%. Ice cream delivered strong growth led by
innovations including the new Kinder® ice cream and the
new Magnum Praline variant. In tea, our emerging
markets growth was driven by good performance on our core brands
like Brooke Bond in India. In developed markets black tea
continues to be challenging however the transformation of our
portfolio is ongoing helped by our
acquisitions Tazo and Pukka and innovations like our
organic Lipton range. Growth in foods was driven by cooking
products and our food service business which caters to professional
chefs. Knorr continued to modernise the portfolio with
more 'organic and natural' innovations including a new 'soup in
glass' range, while our snacking brands Red Red, Prepco and Mae Terra performed well. In
dressings, Hellmann's was helped by a campaign to activate its
purpose to 'fight food waste' but growth was held back by continued
promotional intensity in the US. Sir
Kensington performed well
and we launched Del Huerto, a new tier three dressings brand in
Colombia.
THIRD QUARTER OPERATIONAL REVIEW: GEOGRAPHICAL AREA
|
|
Third
Quarter 2018
|
Nine
Months 2018
|
|
(unaudited)
|
Turnover
|
USG
|
UVG
|
UPG
|
Turnover
|
USG
|
UVG
|
UPG
|
|
|
€bn
|
%
|
%
|
%
|
€bn
|
%
|
%
|
%
|
|
Unilever
|
12.5
|
3.8
|
2.4
|
1.4
|
38.7
|
2.9
|
2.3
|
0.6
|
|
Asia/AMET/RUB
|
5.6
|
6.6
|
4.3
|
2.2
|
17.3
|
6.3
|
4.8
|
1.4
|
|
The
Americas
|
3.9
|
1.7
|
0.2
|
1.5
|
11.9
|
-
|
(0.2)
|
0.3
|
|
Europe
|
3.0
|
1.4
|
1.9
|
(0.4)
|
9.5
|
0.6
|
1.1
|
(0.5)
|
|
|
Third
Quarter 2018
|
Nine
Months 2018
|
|
(unaudited)
|
Turnover
|
USG
|
UVG
|
UPG
|
Turnover
|
USG
|
UVG
|
UPG
|
|
|
€bn
|
%
|
%
|
%
|
€bn
|
%
|
%
|
%
|
|
Emerging
markets
|
7.2
|
5.6
|
3.4
|
2.1
|
22.3
|
4.6
|
3.3
|
1.2
|
|
Developed
markets
|
5.3
|
1.3
|
1.0
|
0.2
|
16.4
|
0.5
|
0.9
|
(0.3)
|
|
North
America
|
2.2
|
1.9
|
0.3
|
1.5
|
6.8
|
1.1
|
0.8
|
0.3
|
|
Latin
America
|
1.7
|
1.5
|
0.1
|
1.4
|
5.1
|
(1.2)
|
(1.4)
|
0.2
|
The table below provides information on the first nine months of
2018 performance excluding sales related to spreads.
|
|
Nine Months 2018
|
|
(unaudited)
|
Turnover
|
USG
|
UVG
|
UPG
|
|
|
€bn
|
%
|
%
|
%
|
|
Developed markets
excluding spreads
|
15.4
|
0.7
|
1.1
|
(0.3)
|
|
Europe
excluding spreads
|
8.8
|
0.9
|
1.4
|
(0.5)
|
|
North
America excluding spreads
|
6.6
|
1.3
|
0.9
|
0.4
|
Asia/AMET/RUB
Underlying sales growth was 6.6%, with 4.3% from volume. Underlying
price growth picked up to 2.2% reflecting higher commodity
inflation. In India where we are one year on from the
implementation of the Goods and Services Tax we continue to deliver
strong volume growth, while Turkey achieved double-digit growth
that was balanced between volume and price. After a softer first
half performance, sales growth in Indonesia, South Africa and
Russia improved. In China most categories grew well with the
exception of our air purification
business, Blueair, which declined.
The Americas
In North America, underlying sales growth improved to 1.9%, driven
by a pick up in price growth. Beauty & Personal Care was helped
by strong performance of our new brands and acquisitions while
foods was held back by continued promotional intensity in
dressings.
In Latin America underlying sales growth was 1.5%. Sales in Brazil
were up 10% helped by both a recovery from the truckers' strike in
the second quarter and a return to positive price growth. In
Argentina price growth accelerated to 34% in the third quarter and
this put pressure on our volumes, which declined double digit. This
negative volume growth in Argentina adversely impacted group UVG by
30bps in the quarter. Group underlying price growth would have been
70bps higher if price growth from Argentina had been
included.
Europe
Europe grew modestly in the quarter, mainly driven by strong ice
cream sales that were helped by both innovations and good weather
in Northern Europe. Germany and the Netherlands performed well, and
we saw continued strong momentum in Central & Eastern Europe.
In the United Kingdom, good ice cream growth was partly offset by
increased competitive pressures in fabric solutions. France was
flat, while Italy declined in the quarter.
|
COMPETITION INVESTIGATIONS
|
As previously disclosed, along with other consumer products
companies and retail customers, Unilever is involved in a number of
ongoing investigations by national competition authorities,
including those within Italy and South Africa. These proceedings
and investigations are at various stages and concern a variety of
product markets. Where appropriate, provisions are made and
contingent liabilities disclosed in relation to such
matters.
Ongoing compliance with competition laws is of key importance to
Unilever. It is Unilever's policy to co-operate fully with
competition authorities whenever questions or issues arise. In
addition, the Group continues to reinforce and enhance its internal
competition law training and compliance programme on an ongoing
basis.
The Boards have determined to pay a quarterly interim dividend for
Q3 2018 at the following rates which are equivalent in value
between the two companies at the rate of exchange applied under the
terms of the Equalisation Agreement:
Per Unilever N.V. ordinary
share: €
0.3872
Per Unilever PLC ordinary
share: £
0.3393
Per Unilever N.V. New York share:
US$ 0.4487
Per Unilever PLC American Depositary
Receipt:
US$ 0.4487
The quarterly interim dividends have been determined in euros and
converted into equivalent sterling and US dollar amounts using
exchange rates issued by WM/Reuters on 16 October
2018.
US dollar cheques for the quarterly interim dividend will be mailed
on 5 December 2018 to holders of record at the close of business on
2 November 2018. In the case of the NV New York shares, Netherlands
withholding tax will be deducted.
The quarterly dividend calendar for the remainder of 2018 will be
as follows:
|
|
Announcement
Date
|
Ex-Dividend
Date
|
Record
Date
|
Payment
Date
|
|
Quarterly
dividend - for Q3 2018
|
18
October 2018
|
1
November 2018
|
2
November 2018
|
5
December 2018
|
|
ADDITIONAL COMMENTARY ON GAAP MEASURES
|
Since the publication of our first half year results, the
Argentinian economy has become hyperinflationary. As a result,
application of IAS 29 'Financial Reporting in Hyperinflationary
Economies' has been applied to all Unilever business entities whose
functional currency is the Argentinian Peso. IAS 29 requires that
adjustments are applicable from the start of the relevant entity's
reporting period. For Unilever that is from 1 January 2018.
Turnover has been adjusted accordingly including the restatement of
turnover previously reported. The application of IAS 29 has
resulted in a reduction in Group turnover in the nine months to 30
September 2018 of €186.5 million, of which €153.9
million relates to sales in the first half year 2018, and
€32.6 million relates to Q3 2018.
Whilst the Venezuelan economy is also hyperinflationary and has
been for a number of years, IAS 29 has not been applied to our
Venezuelan business as it is immaterial to the Unilever
Group.
|
SEGMENT INFORMATION - DIVISIONS
|
(unaudited)
|
Third Quarter
|
Beauty
& Personal
Care
|
Home
Care
|
Foods
& Refreshment
|
Total
|
|
Turnover (€
million)
|
|
|
|
|
|
2017
|
5,021
|
2,589
|
5,556
|
13,166
|
|
2018
|
5,209
|
2,511
|
4,809
|
12,529
|
|
Change
(%)
|
3.7
|
(3.0)
|
(13.4)
|
(4.8)
|
|
Impact
of:
|
|
|
|
|
|
Exchange rates* (%)
|
(4.4)
|
(7.5)
|
(4.8)
|
(5.2)
|
|
Acquisitions (%)
|
4.3
|
0.5
|
0.8
|
2.2
|
|
Disposals (%)
|
-
|
(0.2)
|
(12.6)
|
(5.3)
|
|
|
|
|
|
|
|
Underlying sales
growth (%)
|
4.0
|
4.5
|
3.2
|
3.8
|
|
Price*
(%)
|
1.2
|
3.0
|
0.7
|
1.4
|
|
Volume
(%)
|
2.8
|
1.5
|
2.5
|
2.4
|
|
Nine Months
|
Beauty
& Personal
Care
|
Home
Care
|
Foods
& Refreshment
|
Total
|
|
Turnover (€
million)
|
|
|
|
|
|
2017
|
15,502
|
7,987
|
17,402
|
40,891
|
|
2018
|
15,230
|
7,507
|
15,990
|
38,727
|
|
Change
(%)
|
(1.8)
|
(6.0)
|
(8.1)
|
(5.3)
|
|
Impact
of:
|
|
|
|
|
|
Exchange rates* (%)
|
(8.7)
|
(9.8)
|
(6.7)
|
(8.1)
|
|
Acquisitions (%)
|
4.3
|
0.5
|
0.9
|
2.1
|
|
Disposals (%)
|
-
|
(0.2)
|
(4.4)
|
(1.9)
|
|
|
|
|
|
|
|
Underlying sales
growth (%)
|
3.1
|
3.9
|
2.2
|
2.9
|
|
Price*
(%)
|
0.2
|
1.2
|
0.6
|
0.6
|
|
Volume
(%)
|
2.9
|
2.6
|
1.6
|
2.3
|
*
Underlying price growth in Venezuela (from January 2018) and
Argentina (from July 2018) has been excluded when calculating the
price growth in the tables above, and an equal and opposite
adjustment made in the calculation of exchange rate impact. See
page 7 for further details.
Turnover growth is made up of distinct individual growth components
namely underlying sales, currency impact, acquisitions and
disposals. Turnover growth is arrived at by multiplying these
individual components on a compounded basis as there is a currency
impact on each of the other components. Accordingly, turnover
growth is more than just the sum of the individual
components.
|
SEGMENT INFORMATION - GEOGRAPHICAL AREA
|
(unaudited)
|
Third Quarter
|
Asia
/
AMET
/
RUB
|
The
Americas
|
Europe
|
Total
|
|
Turnover (€ million)
|
|
|
|
|
|
2017
|
5,625
|
4,209
|
3,332
|
13,166
|
|
2018
|
5,591
|
3,967
|
2,971
|
12,529
|
|
Change
(%)
|
(0.6)
|
(5.7)
|
(10.8)
|
(4.8)
|
|
Impact of:
|
|
|
|
|
|
Exchange rates* (%)
|
(6.4)
|
(6.8)
|
(0.4)
|
(5.2)
|
|
Acquisitions (%)
|
1.6
|
4.3
|
0.3
|
2.2
|
|
Disposals (%)
|
(2.0)
|
(4.6)
|
(12.1)
|
(5.3)
|
|
|
|
|
|
|
|
Underlying sales growth (%)
|
6.6
|
1.7
|
1.4
|
3.8
|
|
Price* (%)
|
2.2
|
1.5
|
(0.4)
|
1.4
|
|
Volume (%)
|
4.3
|
0.2
|
1.9
|
2.4
|
|
Nine Months
|
Asia
/
AMET
/
RUB
|
The
Americas
|
Europe
|
Total
|
|
Turnover (€
million)
|
|
|
|
|
|
2017
|
17,710
|
13,286
|
9,895
|
40,891
|
|
2018
|
17,327
|
11,896
|
9,504
|
38,727
|
|
Change
(%)
|
(2.2)
|
(10.5)
|
(4.0)
|
(5.3)
|
|
Impact
of:
|
|
|
|
|
|
Exchange rate* (%)
|
(9.0)
|
(12.1)
|
(0.7)
|
(8.1)
|
|
Acquisitions (%)
|
1.9
|
3.8
|
0.4
|
2.1
|
|
Disposals (%)
|
(0.7)
|
(1.9)
|
(4.3)
|
(1.9)
|
|
|
|
|
|
|
|
Underlying sales
growth (%)
|
6.3
|
-
|
0.6
|
2.9
|
|
Price* (%)
|
1.4
|
0.3
|
(0.5)
|
0.6
|
|
Volume (%)
|
4.8
|
(0.2)
|
1.1
|
2.3
|
*
Underlying price growth in Venezuela (from January 2018) and
Argentina (from July 2018) has been excluded when calculating price
growth in the tables above, and an equal and opposite adjustment
made in the calculation of exchange rate impact. See page 7 for
further details.
In our financial reporting we use certain measures that are not
defined by generally accepted accounting principles (GAAP) such as
IFRS. We believe this information, along with comparable GAAP
measures, is useful to investors because it provides a basis for
measuring our operating performance and our ability to retire debt
and invest in new business opportunities. Our management uses these
financial measures, along with the most directly comparable GAAP
financial measures, in evaluating our operating performance and
value creation. Non-GAAP financial measures should not be
considered in isolation from, or as a substitute for, financial
information presented in compliance with GAAP. Wherever appropriate
and practical, we provide reconciliations to relevant GAAP
measures. The non-GAAP measures used in this announcement are
underlying sales growth, underlying volume growth and underlying
price growth (see below).
Underlying sales growth (USG)
Underlying Sales Growth or "USG" refers to the increase in turnover
for the period, excluding any change in turnover resulting from
acquisitions, disposals and changes in currency. We believe this
measure provides valuable additional information on the underlying
sales performance of the business and is a key measure used
internally. The impact of acquisitions and disposals is excluded
from USG for a period of 12 calendar months from the applicable
closing date. Turnover from acquired brands that are launched in
countries where they were not previously sold is included in USG as
such turnover is more attributable to our existing sales and
distribution network than the acquisition itself. Also excluded is
the impact of price growth from countries where the impact of
consumer price inflation (CPI) rates has escalated to extreme
levels.
There are two countries where we have determined extreme levels of
CPI exist. The first is Venezuela where in Q4 2017 inflation rates
exceeded 1,000% and management considered that the situation would
persist for some time. Consequently, price growth in Venezuela has
been excluded from USG since Q4 2017. The second is Argentina,
which from Q3 2018 has been accounted for in accordance with IAS
29, and thus from this quarter Argentina price growth is excluded
from Group USG. The adjustment made at Group level as a result of
these two exclusions was a reduction in price growth of 21.2% for
the third quarter, and 7.7% for the nine months period. This
treatment for both countries will be kept under regular review, but
there is no expectation that our treatment of either country will
change at year end.
Prior to this quarter USG only excluded the impact of price changes
in countries where consumer price inflation has escalated to
extreme levels of 1,000% or more. However, given the need this
quarter to account for our Argentinian business in accordance with
IAS 29, we have now also excluded price changes in countries that
need to be accounted for in accordance with IAS 29. Prior to Q3
2018 there were no countries that were accounted for under IAS 29,
so no restatements are necessary.
Underlying price growth (UPG)
Underlying price growth or "UPG" is part of USG, and means, for the
applicable period, the increase in turnover attributable to changes
in prices during the period. UPG therefore excludes the impact to
USG due to (1) the volume of products sold; and (2) the composition
of products sold during the period. In determining changes in price
we exclude the impact of price growth in Argentina and Venezuela as
explained under USG above. The measures and the related turnover
GAAP measure are set out on pages 5 and 6.
Underlying volume growth (UVG)
Underlying Volume Growth or "UVG" is part of USG and means, for the
applicable period, the increase in turnover in such period
calculated as the sum of (1) the increase in turnover attributable
to the volume of products sold; and (2) the increase in turnover
attributable to the composition of products sold during such
period. UVG therefore excludes any impact to USG due to changes in
prices. The measures and the related turnover GAAP measure are set
on pages 5 and 6.
This announcement may contain forward-looking statements, including
'forward-looking statements' within the meaning of the United
States Private Securities Litigation Reform Act of 1995. Words such
as 'will', 'aim', 'expects', 'anticipates', 'intends', 'looks',
'believes', 'vision', or the negative of these terms and other
similar expressions of future performance or results, and their
negatives, are intended to identify such forward-looking
statements. These forward-looking statements are based upon current
expectations and assumptions regarding anticipated developments and
other factors affecting the Unilever Group (the 'Group'). They are
not historical facts, nor are they guarantees of future
performance.
Because these forward-looking statements involve risks and
uncertainties, there are important factors that could cause actual
results to differ materially from those expressed or implied by
these forward-looking statements. Among other risks and
uncertainties, the material or principal factors which could cause
actual results to differ materially are: Unilever's global brands
not meeting consumer preferences; Unilever's ability to innovate
and remain competitive; Unilever's investment choices in its
portfolio management; inability to find sustainable solutions to
support long-term growth; the effect of climate change on
Unilever's business; customer relationships; the recruitment and
retention of talented employees; disruptions in our supply chain;
the cost of raw materials and commodities; the production of safe
and high quality products; secure and reliable IT infrastructure;
successful execution of acquisitions, divestitures and business
transformation projects; economic and political risks and natural
disasters; financial risks; failure to meet high and ethical
standards; and managing regulatory, tax and legal matters. These
forward-looking statements speak only as of the date of this
announcement. Except as required by any applicable law or
regulation, the Group expressly disclaims any obligation or
undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change
in the Group's expectations with regard thereto or any change in
events, conditions or circumstances on which any such statement is
based. Further details of potential risks and uncertainties
affecting the Group are described in the Group's filings with the
London Stock Exchange, Euronext Amsterdam and the US Securities and
Exchange Commission, including in the Annual Report on Form 20-F
2017 and the Unilever Annual Report and Accounts 2017.
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Media: Media Relations Team
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Investors: Investor Relations Team
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UK
or
NL
or
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+44 78
2527 3767
+44 78
2708 5145
+31 10
217 4844
+32 494
60 4906
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lucila.zambrano@unilever.com
clare.cavana@unilever.com
els-de.bruin@unilever.com
freek.bracke@unilever.com
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+44 20
7822 6830
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investor.relations@unilever.com
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There will be a web cast of the results presentation available
at:
www.unilever.com/investor-relations/results-and-presentations/latest-results