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2024 First Half Results

Innovation and brand investment driving faster volume growth

Summary

A range of Unilever products being used.

Detailed description

Hellmann’s mayonnaise is being added to a burger with lettuce and tomato on top. It’s then added to a bagel with ham, lettuce and tomato on it. Several hands are then shown in the air – some holding items of food with mayonnaise on them and one holding a bottle of Hellmann’s ‘Supreme’. The words “Hellmann’s Supreme” are shown on screen.

A bottle of Dove can be seen in the foreground. Behind is a white shower curtain which is pulled to one side. A lady reaches round the curtain and picks up the bottle of Dove. A pair of lower legs and feet are seen standing in lather and water. Then the bottle of Hydration Boost Dove is picked up – we can see a houseplant in the background. The words “New serum body washes” are shown on screen.

A lady holding a sachet of Liquid I.V. Hydration Multiplier. She tips the contents into a filled water bottle then drinks from the bottle.

A bottle of Persil Wonder Wash next to a pile of towels. A washing machine with the programme selector set to ‘short cycle’. Usain Bolt looking in through the washing machine door as the drum starts to rotate with the words ‘designed for the shortest cycle’ shown on screen.

  • 4.1%underlying sales growth
  • 2.6%underlying volume growth
  • 6.1bnunderlying operating profit+17.1% versus H1 2023
  • 16.3%underlying EPS growth

Underlying sales growth (USG)

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Underlying volume growth (UVG)

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Underlying price growth (UPG)

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  Three bottles of Wonder Wash, Unilever’s laundry detergent innovation designed specifically for quick washes.

First half 2024 highlights

  • Underlying sales growth of 4.1%, with volumes up 2.6%
  • Power Brands (~75% of turnover) leading growth with 5.7% USG and volumes up 4.0%
  • Turnover increased 2.3% to €31.1 billion with -1.1% impact from currency and -0.7% from net disposals
  • Underlying operating margin up 250bps to 19.6%, with gross margin up 420bps
A line-up of Hellmann’s flavoured, squeeze bottle mayos pictured with key ingredients like limes, chillies, garlic and herbs.
  • Brand and marketing investment up 180bps to 15.1%, focused on Power Brands
  • Underlying EPS increased 16.3%, diluted EPS up 5.4%
  • Quarterly dividend raised by 3%; €1.5bn share buyback commenced
A photo of three Dove whole-body deodorants: one cream, one stick and one spray. Packaging is white with pastel lettering.
  • Free cash flow of €2.2 billion, reflecting seasonal working capital outflow
  • Productivity programme underway and separation of Ice Cream on track
Jar of Knorr Chicken Bouillon next to a bowl of noodles with vegetables.

Our Business Groups

Our brands operate in five Business Groups, each fully responsible and accountable for its strategy, growth, and profit delivery globally.

Beauty & Wellbeing

Consists of Hair Care, Skin Care, Prestige Beauty and Health & Wellbeing (including the vitamins, minerals and supplements business). Expand to view more.

In the 2023 financial year Beauty & Wellbeing had a combined turnover of €12.5 billion.

Our best-known Beauty & Wellbeing brands

Dove pack illustration

Dove

Our mission is to make a positive experience of beauty accessible to all women

Sunsilk  pack illustration

Sunsilk

Opening up possibilities for girls everywhere

Vaseline pack illustration

Vaseline

Everyone, everywhere deserves healthy, beautiful skin

Geographical footprint – split by geographical area

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Geographical footprint – Emerging versus Developed Markets

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Geographical footprint - Top 5 countries

1. USA
2. India
3. China
4. Brazil
5. Mexico

Personal Care

Consists of Skin Cleansing, Deodorants, Oral Care and Elida Beauty. Expand to view more.

In the 2023 financial year Personal Care had a combined turnover of €13.8 billion.

Our best-known Personal Care brands

Axe pack shot

Axe

When you smell good, good things happen

Dove pack shot

Dove

Our mission is to make a positive experience of beauty accessible to all women

Lifebuoy pack shot

Lifebuoy

Help parents ensure their kids fall ill less often

Lux pack shot

LUX

Empowering women to find strength in their beauty and rise above the judgements they face

Geographical footprint – split by geographical area

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Geographical footprint – Emerging versus Developed Markets

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Geographical footprint - Top 5 countries

1. USA
2. India
3. Brazil
5. UK
5. Indonesia

Home Care

Consists of Fabric Cleaning, Home & Hygiene, Fabric Enhancers and Water & Air Wellness. Expand to view more.

In the 2023 financial year Home Care had a combined turnover of €12.2 billion.

Our best-known Home Care brands

Cif pack shot

Cif

Goodbye ugly dirt. Hello beautiful

Domestos pack shot

Domestos

To win the war against unsafe sanitation and poor hygiene

OMO pack shot

OMO

Dirt Is Good!

Geographical footprint – split by geographical area

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Geographical footprint – Emerging versus Developed Markets

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Geographical footprint - Top 5 countries

1. India
2. Brazil
3. China
4. Vietnam
5. UK

Nutrition

Consists of Scratch Cooking Aids, Dressings, Beverages and Functional Nutrition (including Horlicks and Boost). Expand to view more.

In the 2023 financial year Nutrition had a combined turnover of €13.2 billion.

Our best-known Nutrition brands

Knorr pack shot

Knorr

Reinventing Food for Humanity

Geographical footprint – split by geographical area

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Geographical footprint – Emerging versus Developed Markets

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Geographical footprint - Top 5 countries

1. USA
2. India
3. Netherlands
4. China
5. Indonesia

Ice Cream

Consists of Ice Cream, both in-home and out-of-home. Expand to view more.

In the 2023 financial year Ice Cream had a combined turnover of €7.9 billion.

Our best-known Ice Cream brands

Geographical footprint – split by geographical area

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Geographical footprint – Emerging versus Developed Markets

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Geographical footprint - Top 5 countries

1. USA
2. Turkey
3. Germany
4. UK
5. China

Hein Schumacher

“We are focused on driving high-quality sales growth and gross margin expansion, led by our Power Brands. Over the first half, we made progress on those ambitions. We remain focused on transforming Unilever into a consistently higher performing business.”

Hein Schumacher, Chief Executive Officer

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