REG - Unilever PLC - Q1 2026 Trading Statement

UnileverAnnouncement

Today 07:02

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260430:nRSd4794Ca&default-theme=true

RNS Number : 4794C  Unilever PLC  30 April 2026

Unilever Trading Statement - First Quarter 2026

Strong volume growth; full year outlook reconfirmed

 First Quarter Key Highlights

•       Volume-led growth - underlying sales growth (USG) of 3.8%,
with volume growth of 2.9% and price of 0.9%

•       Broad-based growth across categories with Power Brands leading
performance - 5.0% USG and 4.0% volume growth

•       Emerging market momentum - led by strong growth in India and
good recovery in Latin America

•       Turnover of €12.6 billion - down (3.3)% as positive USG and
net acquisitions and disposals were offset by currencies

•       Unilever Foods combination with McCormick announced -
unlocking value by shaping Unilever into a

leading pureplay HPC company and creating a global flavour powerhouse in Foods

•       Quarterly dividend up 3% vs Q1 2025

•       €1.5 billion share buyback commences today - expected to
complete on or before 6 July 2026

 First Quarter Key Figures

 

                         First Quarter 2026
 (unaudited)             USG      Turnover   vs 2025
 Unilever                3.8%     €12.6bn    (3.3)%
 Beauty & Wellbeing      3.6%     €3.1bn     (5.4)%
 Personal Care           3.7%     €3.3bn     0.6%
 Home Care               6.1%     €3.0bn     (2.6)%
 Foods                   2.2%     €3.2bn     (5.6)%

 

 Chief Executive Officer Statement

"We have started the year well with volume-led growth driven by our Power
Brands and a positive performance across all Business Groups. There is
broad-based momentum across our emerging markets business, with a strong
performance in India, and a good recovery in Latin America following the
decisive actions we have taken in that region.

We continue to move at speed to build a simpler, sharper Unilever with a
structurally higher growth profile and a brand portfolio fit for the future.
In March, we announced an agreement to combine Unilever's Food business with
McCormick, unlocking value by shaping Unilever into a leading pureplay HPC
company and creating a global flavour powerhouse in Foods.

Despite heightened macroeconomic uncertainty, the progress we are making to
elevate our brands through Desire at Scale and improve operational execution
means we remain confident of delivering on our guidance for the year ahead."

Fernando Fernandez

 Outlook

Our full year 2026 outlook remains unchanged.

We expect underlying sales growth for full year 2026 to be at the bottom end
of our multi-year guidance range of 4% to 6%, with at least 2% underlying
volume growth for the full year.

We anticipate a modest improvement in underlying operating margin for the full
year versus 20.0% in 2025.

 

 First Quarter Review: Unilever Group

Growth

 (unaudited)    Turnover   USG   UVG   UPG   Acquisitions  Disposals  Currency  Turnover change
 First Quarter  €12.6bn    3.8%  2.9%  0.9%  1.4%          (0.5)%     (7.7)%    (3.3)%

Underlying sales growth in the first quarter was 3.8%, with volume growth of
2.9% and price growth of 0.9%. The strong volume growth was led by Power
Brands, which grew underlying sales by 5.0%, with 4.0% volume growth. All
Business Groups delivered volume growth, with strong volumes in Home Care
driven by an acceleration in key emerging markets.

•       Beauty & Wellbeing: 3.6% underlying sales growth was
balanced between volume and price. Growth was driven by continued strength in
Dove and Vaseline, good momentum in our prestige brands, and a return to
volume growth in Sunsilk. Wellbeing declined low-single digit against a very
strong comparator in the first quarter.

•       Personal Care: 3.7% underlying sales growth, with 1.1% from
volume and 2.5% from price, was driven by mid-single digit growth in
deodorants and skin cleansing. Dove's continued strong performance in both
categories was supported by premium innovation. Deodorants returned to growth
in Latin America following our actions to improve format mix in Brazil.

•       Home Care: 6.1% underlying sales growth, with 6.2% from volume
and (0.1)% from price, reflected improving momentum and competitiveness across
key markets, including strong volume-led growth in India and Brazil, partly
offset by weaker markets in Europe.

•       Foods: 2.2% underlying sales growth, with 2.4% from volume and
(0.2)% from price, was driven by continued strength in Hellmann's and
sequential improvement in Unilever Food Solutions. Emerging markets delivered
mid-single-digit growth, while developed markets were flat as category
conditions remained soft.

By region, growth continues to be led by emerging markets while developed
markets remain resilient.

•       Developed Markets: 1.0% underlying sales growth, with 0.9%
from volume and 0.1% from price, reflected growth in North America, led by
Personal Care and Beauty, offset by a subdued European market.

•       Emerging Markets: 5.7% underlying sales growth, with strong
volume contribution of 4.2%, and 1.5% from price. Growth was broad based
across emerging markets, and included 7% growth in India, sequential
improvement and a return to volume growth in Latin America and continued good
progress in China and Indonesia.

Turnover was €12.6 billion, down (3.3%) versus the prior year, as positive
underlying sales growth of 3.8% and the net impact of acquisitions and
divestments was offset by a negative currency impact of (7.7%).

Productivity programme

Our productivity programme, launched in 2024, continues to run ahead of
schedule in its delivery of €800 million of savings by the end of 2026.
Unilever delivered €750 million of savings by the end of the first quarter
of 2026.

Unilever Foods combination with McCormick

In March 2026, we announced the agreement to combine Unilever's Foods business
with McCormick to create a scaled, global flavour powerhouse with a superior
growth profile. The separation of Unilever Foods will position Unilever as a
pureplay HPC business with leading positions in highly attractive categories,
fast growing geographies and channels.

The combined Unilever Foods and McCormick is expected to realise approximately
$600 million of annual run rate cost synergies net of growth reinvestments,
and incremental cost and revenue synergies of $100 million that will be
reinvested to further drive growth. Work is already underway to support the
delivery of these synergies.

We expect no revenue or operational dis-synergies from the separation of Foods
given the operational and go to market independence of Foods relative to our
HPC Business Groups. We expect €400-500 million of stranded costs post the
separation, which will be offset with savings over 2027 to 2029, incurring
one-off restructuring costs of €500 million over that period.

We expect completion by mid-2027 at the latest, subject to McCormick
shareholder approval, receipt of required regulatory approvals and the
satisfaction of other customary closing conditions. Works Council consultation
will also be conducted prior to closing of the transaction.

Capital allocation

Our capital allocation priorities remain unchanged. We will invest in the
growth and productivity of Unilever as a priority. Alongside this we will
continue to reshape our portfolio through bolt-on acquisitions and selective
disposals, return capital to shareholders through our attractive dividend and
use surplus cash to fund share buybacks.

In March 2026, we announced the agreement to combine Unilever's Foods business
with McCormick. This follows the December 2025 demerger of The Magnum Ice
Cream Company (TMICC).

Over the last year we have also undertaken targeted acquisitions and
divestments to access growth opportunities in our priority areas and to focus
on fewer, bigger and more scalable brands.

•       January 2026: Unilever announced the agreement to sell our
Home Care businesses in Colombia and Ecuador. The transactions are expected to
close during 2026.

•       February 2026: Unilever completed the sale of Graze.

•       March 2026: Unilever completed the sale of our Indonesia Tea
Business.

•       March 2026: Unilever completed the sale of its 61.9% stake in
Kwality Wall's (India) Limited to TMICC.

•       April 2026: Unilever completed the sale of our 55% stake in
the Portuguese ice cream joint venture to TMICC.

•       April 2026: Unilever announced the acquisition of Grüns, the
fast-growing VMS company with a leading position in the U.S. Greens Supplement
category. The transaction is expected to close later this year.

The quarterly interim dividend for the first quarter is €0.4664, in line
with the Q4 2025 dividend and up 3.0% vs Q1 2025.

The €1.5 billion share buyback programme, announced in February 2026,
commences today and is expected to complete on or before 6 July 2026. As
stated in the Unilever Foods announcement, on 31 March 2026, cash receipts are
expected to support a total of €6 billion of share buybacks between 2026 and
2029.

 

 Conference Call

Following the release of this trading statement on 30 April 2026 at 7:00 AM
(UK time), there will be a webcast at 8:00 AM available on the website
www.unilever.com/investor-relations/results-and-presentations/latest-results
(www.unilever.com/investor-relations/results-and-presentations/latest-results)
.

A replay of the webcast and the slides of the presentation will be made
available after the live meeting.

 

 Upcoming Events

 

 Date             Events
 13 May 2026      Annual General Meeting
 28 July 2026     Half Year and Second Quarter Results
 28 October 2026  Third Quarter Trading Statement
 4 November 2026  Capital Markets Day
 First Quarter Review: Business Groups

 

                         First Quarter 2026
 (unaudited)             Turnover   USG    UVG    UPG
 Unilever                €12.6bn    3.8%   2.9%   0.9%
 Beauty & Wellbeing      €3.1bn     3.6%   1.9%   1.6%
 Personal Care           €3.3bn     3.7%   1.1%   2.5%
 Home Care               €3.0bn     6.1%   6.2%   (0.1)%
 Foods                   €3.2bn     2.2%   2.4%   (0.2)%

Beauty & Wellbeing (25% of Q1 Group turnover)

 (unaudited)    Turnover  USG   UVG   UPG   Acquisitions  Disposals  Currency  Turnover change
 First Quarter  €3.1bn    3.6%  1.9%  1.6%  0.7%          (0.2)%     (9.1)%    (5.4)%

Beauty & Wellbeing underlying sales grew 3.6%, with 1.9% from volume and
1.6% from price. We delivered a strong performance in our Power Brands and
prestige portfolio, including double-digit volume-led growth in Dove and
Vaseline. Growth reflected strong momentum in emerging markets, notably Asia
Pacific Africa with mid‑single‑digit volume growth, with a flat
performance in developed markets.

•       Hair Care grew high-single digit, led by volume. This was
driven by continued momentum in Dove, which delivered double-digit growth
following the 2025 launch of its Fibre Repair technology range. Performance
was further supported by double-digit growth in India, and by sequential
improvement and a return to volume growth in both Sunsilk and Clear. Our
prestige brand K18 delivered another quarter of strong volume-led growth. This
was partially offset by the impact of delisting some unprofitable hair care
brands in the US in 2025 as we increasingly focus our portfolio on our Power
Brands.

•       Skin Care grew low-single digit. Continued good momentum in
the US, with mid-single digit growth, and in Vaseline, which delivered
double-digit volume growth supported by premium innovations including the
launch of Gluta-Hya Lip Serum Gloss, was offset by softer performance in Asia
Pacific Africa. Prestige growth was led by strong performances in Hourglass,
Tatcha and Dermalogica.

•       Wellbeing declined low-single digit, impacted by a very strong
comparator in the first quarter. Olly grew double-digit supported by strong
digital growth and distribution gains. We expect Wellbeing performance to
improve as actions to increase Liquid I.V. usage occasions and optimise
Nutrafol's customer conversion gain traction.

Personal Care (26% of Q1 Group turnover)

 (unaudited)    Turnover  USG   UVG   UPG   Acquisitions  Disposals  Currency  Turnover change
 First Quarter  €3.3bn    3.7%  1.1%  2.5%  4.8%          -%         (7.4)%    0.6%

Personal Care underlying sales grew 3.7%, with 1.1% from volume and 2.5% from
price. Growth was driven by mid-single digit growth in both deodorants and
skin cleansing, led by strong growth in North America. Dove continued to lead
brand growth, and Rexona and Axe improved sequentially, reflecting progress
from actions taken in Brazil in the second half of 2025 to improve format mix.
Growth was partially offset by a flat performance in Europe amidst subdued
market conditions. We anticipate an uplift in the second quarter supported by
our FIFA World Cup 2026™ related campaigns and activations.

•       Deodorants grew mid-single digit, with balanced volume and
price. Performance was driven by double-digit growth in Dove, continued
scaling of Whole Body Deodorants, and sequential improvement in Rexona and
Axe. Deodorants returned to growth in Latin America as actions to improve
format mix in Brazil continued to gain traction.

•       Skin Cleansing grew mid-single digit, with positive volume and
price. Growth was driven by North America and emerging markets, partially
offset by a decline in Europe. Dove continued to lead growth, supported by the
strength of its premium body serum ranges.

•       Oral Care was flat, with growth in Asia Pacific Africa offset
by subdued market conditions in Europe.

Home Care (24% of Q1 Group turnover)

 (unaudited)    Turnover  USG   UVG   UPG     Acquisitions  Disposals  Currency  Turnover change
 First Quarter  €3.0bn    6.1%  6.2%  (0.1)%  -%            (0.2)%     (8.1)%    (2.6)%

Home Care underlying sales grew 6.1%, with 6.2% from volume and (0.1)% from
price. Volume growth reflected improving momentum and competitiveness across
key markets, including strong performance in its two largest markets: India
and Brazil. Growth was partially offset by softer performance in Europe, where
slower market conditions and a high prior-year comparator impacted results. We
expect elevated commodity costs to support increased pricing for the balance
of the year.

•       Fabric Cleaning grew mid-single digit, led by double-digit
growth in our premium liquids portfolio and a return to growth in powders. In
India, our market leadership strengthened further as liquids continued to
deliver double-digit growth. Brazil returned to positive volume growth with
good momentum following corrective actions, including on price gaps, taken in
the second half of 2025.

•       Home & Hygiene grew mid-single digit, with mid-single
digit volume growth. Cif delivered double-digit growth as its Infinite Clean
range continued to perform well, supported by new variants and expansion into
additional markets.

•       Fabric Enhancers grew mid-single digit, led by volume.
Performance was driven by high-single digit, volume-led growth in Comfort.

Foods (25% of Q1 Group turnover)

 (unaudited)    Turnover  USG   UVG   UPG     Acquisitions  Disposals  Currency  Turnover change
 First Quarter  €3.2bn    2.2%  2.4%  (0.2)%  -%            (1.5)%     (6.1)%    (5.6)%

Foods underlying sales grew 2.2%, with 2.4% from volume and (0.2)% from price.
Performance was driven by continued strength in Hellmann's which grew volumes
mid-single digit and sequential improvement in Unilever Food Solutions. Growth
was led by emerging markets, which delivered mid-single digit volume-led
growth, while performance in developed markets was flat.

•       Cooking Aids grew low-single digit, led by price. Performance
was driven by strong growth in Asia Pacific Africa, where volume grew
mid-single digit. Knorr grew low-single digit with positive volume and price.

•       Condiments delivered low-single digit growth led by volume
across both emerging and developed markets. Hellmann's remained the key growth
driver, with mid-single digit volume growth supported by premium, flavour-led
innovation, including new flavours and pack formats across both emerging and
developed markets.

•       Unilever Food Solutions grew low-single digit led by volume.
This reflected a better start to the year in China, its largest market, with
low-single digit growth supported by improved trading over the Chinese New
Year period and gradual improvement in away-from-home consumption. North
America continued to perform well, with low-single digit volume-led growth.

On 31 March 2026, we announced that Unilever and McCormick had entered into an
agreement to combine Unilever's Foods business with McCormick, creating a
scaled, global flavour powerhouse. The transaction is expected to close by
mid-2027 at the latest, subject to McCormick shareholder approval, regulatory
approvals and other customary closing conditions. At this stage, Foods
continues to be reported as part of our continuing operations.

 

 First Quarter Review: Geographical Areas

 

                      First Quarter 2026
 (unaudited)          Turnover   USG     UVG     UPG
 Unilever             €12.6bn    3.8%    2.9%    0.9%
 Asia Pacific Africa  €5.6bn     5.9%    5.0%    0.9%
 The Americas         €4.7bn     3.7%    2.4%    1.3%
 Europe               €2.3bn     (0.9)%  (1.2)%  0.3%

 

                    First Quarter 2026
 (unaudited)        Turnover  USG    UVG    UPG
 Emerging markets   €7.6bn    5.7%   4.2%   1.5%
 Developed markets  €5.0bn    1.0%   0.9%   0.1%
 North America      €2.7bn    2.1%   2.2%   (0.1)%
 Latin America      €2.0bn    6.2%   2.6%   3.5%

Asia Pacific Africa (45% of Q1 Group turnover)

Underlying sales growth was 5.9%, with 5.0% from volume and 0.9% from price.

•       India grew 7%, driven by 6% underlying volume growth,
continuing its improving growth momentum. Growth was broad-based, with Beauty
& Wellbeing and Home Care delivering high-single digit growth led by hair
care and laundry liquids. Personal Care and Foods grew mid-single digit. In
Foods, our lifestyle nutrition brands, Horlicks and Boost, delivered
double-digit volume-led growth, while tea grew volumes low-single digit.

•       China delivered another quarter of mid-single digit growth.
Performance was led by Personal Care and Beauty & Wellbeing driven by
premium innovation, growth in social commerce and the actions taken in 2025 to
transform our go-to-market approach. Home Care and Foods grew low-single
digit, with Unilever Foods Solutions low single-digit growth reflecting
gradual improvement in away-from-home consumption.

•       Indonesia delivered 4% growth in the first quarter, with
balanced contributions from volume and price. The performance reflects the
benefits of our successful business reset. Growth was led by innovation and
digital activation in Beauty & Wellbeing and Home Care.

•       Africa grew mid-single digit, led by double-digit growth in
Beauty & Wellbeing and Foods.

The Americas (37% of Q1 Group turnover)

Underlying sales growth was 3.7%, with 2.4% from volume and 1.3% from price.

•       North America grew 2.1%, with volume up 2.2% in a soft market
environment. Growth was led by mid-single digit growth in Personal Care with
continued strong momentum in deodorants and skin cleansing. Beauty &
Wellbeing was flat as growth in skin care and hair care was offset by
Wellbeing. Foods was also flat with continued good growth in Hellmann's offset
by a decline in cooking aids.

•       Latin America grew 6.2%, with a return to volume growth at
2.6% and 3.5% from price. Growth was broad-based across the region, including
sequential improvement in our largest markets, Brazil and Mexico. In Brazil,
we saw improvement in laundry and deodorants, following the corrective actions
taken last year.

Europe (18% of Q1 Group turnover)

Underlying sales growth was (0.9)%, with volume decline of (1.2)% and price of
0.3%.

•       Europe sales declined slightly reflecting a soft market
environment across our categories. Premium innovation-led growth in categories
including laundry, deodorants and condiments was more than offset by declines
elsewhere. Growth continued to be uneven by country with good growth in the
Netherlands and France and weakness in Germany and Eastern Europe.

 

 Segment Information - Business Groups

 

 (unaudited)
 First Quarter                                       Beauty & Wellbeing      Personal Care  Home Care  Foods  Total
 Turnover (€ million)
 2025                                                3,280                   3,260          3,057      3,393  12,990
 2026                                                3,103                   3,278          2,977      3,204  12,562
 Change (%)                                          (5.4)                   0.6            (2.6)      (5.6)  (3.3)
 Impact of:
 Acquisitions (%)                                    0.7                     4.8            -          -      1.4
 Disposals (%)                                       (0.2)                   -              (0.2)      (1.5)  (0.5)
 Currency-related items (%), of which:               (9.1)                   (7.4)          (8.1)      (6.1)  (7.7)
 Exchange rates changes (%)                          (9.3)                   (7.7)          (8.4)      (6.3)  (7.9)
 Extreme price growth in hyperinflationary markets*  0.2                     0.3            0.4        0.2    0.3
 Underlying sales growth (%)                         3.6                     3.7            6.1        2.2    3.8
 Price* (%)                                          1.6                     2.5            (0.1)      (0.2)  0.9
 Volume (%)                                          1.9                     1.1            6.2        2.4    2.9

* Underlying price growth in excess of 26% per year in hyperinflationary
economies has been excluded when calculating the price growth in the tables
above, and an equal and opposite amount is shown as extreme price growth in
hyperinflationary markets.

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 Areas

 

 (unaudited)
 First Quarter                                       Asia Pacific Africa  The Americas  Europe  Total
 Turnover (€ million)
 2025                                                5,887                4,777         2,326   12,990
 2026                                                5,596                4,691         2,275   12,562
 Change (%)                                          (4.9)                (1.8)         (2.2)   (3.3)
 Impact of:
 Acquisitions (%)                                    0.4                  2.9           0.9     1.4
 Disposals (%)                                       (0.1)                (0.3)         (1.8)   (0.5)
 Currency-related items (%), of which:               (10.5)               (7.7)         (0.3)   (7.7)
 Exchange rates changes (%)                          (10.8)               (8.0)         (0.3)   (7.9)
 Extreme price growth in hyperinflationary markets*  0.4                  0.2           -       0.3
 Underlying sales growth (%)                         5.9                  3.7           (0.9)   3.8
 Price* (%)                                          0.9                  1.3           0.3     0.9
 Volume (%)                                          5.0                  2.4           (1.2)   2.9

* Underlying price growth in excess of 26% per year in hyperinflationary
economies has been excluded when calculating the price growth in the tables
above, and an equal and opposite amount is shown as extreme price growth in
hyperinflationary markets.

 

 Dividends

The Board has declared a quarterly interim dividend for Q1 2026 of €0.4664
per Unilever PLC ordinary share or £0.4046 per Unilever PLC ordinary share at
the applicable exchange rate issued by WM/Reuters on 28 April 2026.

The following amounts will be paid in respect of this quarterly interim
dividend on the relevant payment date:

 Per Unilever PLC ordinary share (traded on the London Stock Exchange):  £0.4046
 Per Unilever PLC ordinary share (traded on Euronext in Amsterdam):      €0.4664
 Per Unilever PLC American Depositary Receipt:                           US$0.5449

The pound sterling and US dollar amounts above have been determined using the
applicable exchange rates issued by WM/Reuters on 28 April 2026.

US dollar cheques for the quarterly interim dividend will be mailed on
26 June 2026 to holders of record at the close of business on 15 May 2026.

The quarterly dividend calendar for the remainder of 2026 will be as follows:

                   Announcement     Ex-dividend Date for Ordinary Shares  Ex-dividend Date for ADRs  Record Date       Last Date for DRIP Election  Payment Date

                   Date
 Q1 2026 Dividend  30 April 2026    14 May 2026                           15 May 2026                15 May 2026       05 June 2026                 26 June 2026
 Q2 2026 Dividend  28 July 2026     06 August 2026                        07 August 2026             07 August 2026    27 August 2026               18 September 2026
 Q3 2026 Dividend  28 October 2026  12 November 2026                      13 November 2026           13 November 2026  27 November 2026             18 December 2026

 

 Non-GAAP measures

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 measurements, 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 (USG) refers to the increase in turnover for the
period, excluding any change in turnover resulting from acquisitions,
disposals, changes in currency and price growth in excess of 26% in
hyperinflationary economies. Inflation of 26% per year compounded over three
years is one of the key indicators within IAS 29 to assess whether an economy
is deemed to be hyperinflationary. 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. The reconciliation of changes in the GAAP measure turnover
to USG is provided on page 9.

Underlying price growth (UPG)

Underlying price growth (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 (i) the volume of
products sold; and (ii) the composition of products sold during the period. In
determining changes in price we exclude the impact of price growth in excess
of 26% per year in hyperinflationary economies as explained in USG above. The
measures and the related turnover GAAP measure are set out on page 9.

Underlying volume growth (UVG)

Underlying volume growth (UVG) is part of USG and means, for the applicable
period, the increase in turnover in such period calculated as the sum of (i)
the increase in turnover attributable to the volume of products sold; and (ii)
the increase in turnover attributable to the composition of products sold
during such period. UVG therefore excludes any impact on USG due to changes in
prices. The measures and the related turnover GAAP measure are set out on page
9.

 

 Cautionary Statement

This announcement may contain forward-looking statements within the meaning of
the securities laws of certain jurisdictions, including 'forward-looking
statements' within the meaning of the United States Private Securities
Litigation Reform Act of 1995. All statements other than statements of
historical fact are, or may be deemed to be, forward-looking statements. Words
and terminology such as 'will', 'aim', 'expects', 'anticipates', 'intends',
'looks', 'believes', 'vision', 'ambition', 'target', 'goal', 'plan',
'potential', 'work towards', 'may', 'milestone', 'objectives', 'outlook',
'probably', 'project', 'risk', 'continue', 'should', 'would be', 'seeks', or
the negative of these terms and other similar expressions of future
performance, results, actions or events, and their negatives, are intended to
identify such forward-looking statements. Forward-looking statements also
include, but are not limited to, statements and information regarding
Unilever's emissions reduction and other sustainability-related targets and
other climate and sustainability matters (including actions, potential impacts
and risks and opportunities associated therewith). Forward-looking statements
can be made in writing but also may be made verbally by directors, officers
and employees of the Unilever Group (the "Group") (including during management
presentations) in connection with this announcement. These forward-looking
statements are based upon current expectations and assumptions regarding
anticipated developments, future performance and other factors affecting the
Group, taking into account all information currently available to us. They are
not historical facts, nor are they guarantees of future performance or
outcomes. All forward-looking statements contained in this announcement are
expressly qualified in their entirety by the cautionary statements contained
in this section. Readers should not place undue reliance on forward-looking
statements.

Because these forward-looking statements involve known and unknown risks and
uncertainties, a number of which may be beyond the Group's control or precise
estimate, 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 from the
forward-looking statements expressed in this announcement 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; the effect of climate change on Unilever's business; Unilever's
ability to find sustainable solutions to its plastic packaging; significant
changes or deterioration in customer relationships; the recruitment and
retention of talented employees; disruptions in Unilever's supply chain and
distribution; increases or volatility in the cost of raw materials and
commodities; the production of safe and high-quality products; information and
cybersecurity risks, including Unilever's ability to maintain a secure and
reliable IT infrastructure; risks associated with rapid advancements in
generative AI; execution of acquisitions, divestitures and business
transformation projects, including the risks associated with the proposed
transaction to combine Unilever's Foods business with McCormick & Company,
Inc., such as the risk that the proposed transaction may not be completed on
the terms or in the time frame expected by the parties or at all, or the
difficulties and delays in the combined company achieving the synergies
expected thereby, in the time frame expected by the parties or at all;
economic and geopolitical risks and natural disasters; financial risks; legal
and compliance risks, including failure to meet high and ethical standards,
managing regulatory, tax and legal matters and practices with regard to the
interpretation and application thereof, and risks related to emerging and
developing ESG reporting standards including differences in implementation of
climate and sustainability policies in the regions where the Group operates.
The list of factors presented here is representative and should not be
considered to be a complete statement of all potential risks and
uncertainties. Unlisted factors may present significant additional obstacles
to the realisation of forward-looking statements.

The forward-looking statements are based on our beliefs, assumptions and
expectations of our future performance, taking into account all information
currently available to us. Forward-looking statements are not predictions of
future events and any forward-looking events discussed herein might not occur.
These beliefs, assumptions and expectations can change as a result of many
possible events or factors, not all of which are known to us. If a change
occurs, our business, financial condition, liquidity and results of operations
may vary materially from those expressed in our forward-looking statements.

The 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 intention, 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 or as a result of new information. New risks and uncertainties arise
over time, and it is not possible for us to predict those events or how they
may affect us. In addition, we cannot assess the impact of each factor on our
business or the extent to which any factor, or combination of factors, may
cause actual events, to differ materially from those contained in any
forward-looking statements.

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 2025 and the Unilever Annual Report and Accounts
2025.

 

 Enquiries

 

 Media: Media Relations Team                                     Investors: Investor Relations Team
 UK          +44 77 4249 0136  press-office.london@unilever.com  investor.relations@unilever.com
 or          +44 77 7999 9683  jonathan.sibun@teneo.com
 NL          +31 63 029 6394   willemijn.storimans@unilever.com
 or          +31 61 500 8293   fleur-van.bruggen@unilever.com

After the webcast on 30 April 2026 at 8:00 AM (UK time), a replay of the
webcast and the slides of the presentation will be available at
www.unilever.com/investor-relations/results-and-presentations/latest-results
(www.unilever.com/investor-relations/results-and-presentations/latest-results)
.

This Results Presentation has been submitted to the FCA National Storage
Mechanism and is available for inspection at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) .

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TSTGZGZDLLGGVZM



            Copyright 2019 Regulatory News Service, all rights reserved