Today, Unilever announced its results for the first half of 2020, which show that overall underlying sales declined 0.1%, with developed markets up 2.4% and emerging markets down 1.9%.
- Underlying sales declined 0.1% with volume declining 0.3% and price growth of 0.2%
- Turnover decreased 1.6% including a positive impact of 1.1% from acquisitions net of disposals and negative impact of 2.5% from currency
- Underlying operating profit excluding currency increased 3.8%, before a negative impact of 3.2% from currency
- Underlying earnings per share up 6.4%, including a negative impact of 3.7% from currency
- Free cash flow up €1.3 billion to €2.9 billion, reflecting our objective to protect cash during the crisis
- Quarterly shareholder dividend maintained at €0.4104 per share
- Completed acquisitions of Horlicks brand from GSK, enhancing presence in healthy nutrition
- Announced plans to unify the Group legal structure under a single parent company
A statement from CEO Alan Jope
“Performance during the first half has shown the true strength of Unilever. We have demonstrated the resilience of the business – in our portfolio, in a continued step-up in operational excellence, and in our financial position – and we have unlocked new levels of agility in responding to unprecedented fluctuations in demand.
We have also taken action to strengthen the strategic future of the company by announcing proposals to unify our dual-headed legal structure, progressing the strategic review of our global tea business and making new commitments to help protect the climate and regenerate nature.
From the start of the Covid-19 crisis, we have been guided by clear priorities in line with our multi-stakeholder business model to protect our people, safeguard supply, respond to new patterns of consumer demand, preserve cash and support our communities.
Our focus for the rest of 2020 will continue to be volume led competitive growth, absolute profit and cash delivery, as this is the best way to maximise shareholder value.
I would like to thank every member of the Unilever team for the outstanding commitment they have shown in the most difficult of circumstances.”
