Usain Bolt picks up a bottle of green Persil Wonder wash from a counter in a supermarket. In the background are two large displays with shelves of Persil Wonder Wash of different colours – green, pink and blue. The bottle is then placed down in front of the camera.
A woman sits on some outdoor steps with a dirty trainer on her lap. She has a bottle of Cif cream in one hand and pours a little onto a yellow cloth. We then see a close-up of her wiping her trainer with the Cif cream. As she watches, the trainer floats into the air as the dirt peels off it.
An open sachet of Knorr seasoning can be seen with the contents pouring out. We then see a close-up of food bubbling in a pan – noodles, mushrooms, greens and carrots – followed by more seasoning being poured from a jar of Knorr.
A can of Lynx body spray – with a picture of a cat and the words ‘with catnip’ on it – is pulled from the waistband of a belted pair of trousers.
A can of Dove Men+Care Whole Body Deo is sprayed from a man’s waist, across his heavily tattooed torso.
An item of Hourglass cosmetics can be seen in someone’s hand. We then see a someone applying product to their lips.
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3.4%underlying sales growth
45.7%gross margin
19.3%underlying operating margin
Underlying sales growth (USG)
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Underlying volume growth (UVG)
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Underlying price growth (UPG)
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H1 2025 Highlights:
Underlying sales growth (USG) of 3.4%, with volume growth of 1.5% and price of 1.9%
Turnover of €30.1 billion, down -3.2%; with adverse currency -4.0% and net disposals -2.5%
Strong gross margin of 45.7% fuelled increased brand & marketing investment up 40bps to 15.5%
Underlying operating margin of 19.3%, down -30bps against the strong prior year comparator
Underlying EPS decreased -2.1% to €1.59, diluted EPS decreased -3.7%
Free cash flow €1.1 billion, reflecting lower operating profit, Ice Cream separation costs and higher working capital
Productivity programme ahead of plan, delivering a cumulative c.€650 million savings by end 2025
Quarterly dividend up 3% vs Q2 2024; €1.5 billion share buyback completed
Ice Cream operational separation completed, on track for demerger in mid-November
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 2024 financial year Beauty & Wellbeing had a combined turnover of €13.2 billion.
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
USA
Turkey
Germany
UK
Mexico
“Our first half performance positions us well for the full year. In the second half, we expect further acceleration in emerging markets, particularly in Asia, and sustained momentum in developed markets. Looking ahead, our priorities are clear: more Beauty & Wellbeing and Personal Care; disproportionate investment in the US and India; and, a sharper focus on premium segments and digital commerce. We are building a marketing and sales machine that drives desire at scale in our power brands and ensures execution excellence across all channels to deliver consistent volume growth and gross margin expansion.”
