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Unilever Releases Q1 2019 Financials

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Unilever has released its Q1 2019 financial results.

  • Net sales increased 3.1%
  • 1.2% of the growth was attributed to volume, 1.9% from price.
  • In emerging markets, underlying sales increased 5%

“We have delivered a solid start that keeps us on track for our full year expectations. Growth was led by emerging markets and was balanced between volume and price,” said CEO Alan Jope.

He continued: “Accelerating growth is our number one priority. It requires both great execution and a continued strategic shift into faster growth segments and channels. We saw good performance in key growth channels including out-of-home and e-commerce and benefited from stronger global innovations and faster and more relevant local innovation. The acquisitions we have made since 2015 collectively grew double-digit in the first quarter. With the leadership changes announced in March, we are building the right team to drive our growth agenda.”

Related: Unilever Reports “Solid” 2018

Beauty & Personal Care

  • Sales grew 3.1%, driven by skin care and deodorants
  • Hair and skin cleansing “grew modestly”
  • Global brands drove growth, assisted by innovations (such as the launch of a new patented anti-perspirant technology in the Rexona Clinical Protection range, and Dove foaming handwash in North America)
  • Ponds and Sunsilk grew, and Love Beauty & Planet “continued to build scale”
  • Acquisitions including Dollar Shave Club “grew strongly”
  • Prestige saw double-digit growth, assisted by brands including Schmidt’s and Quala, which both expanded into other personal care categories

2019 Outlook

“For the full year we continue to expect underlying sales growth to be in the lower half of our multi-year 3% – 5% range, an improvement in underlying operating margin that keeps us on track for the 2020 target and another year of strong free cash flow,” said Jope.