Unilever announces its results for the first quarter of 2023. Earlier on April 27, 2023, Unilever has released its results for the first quarter of 2023 showcasing a strong start to the year and continued progress against its strategic priorities.
Here are a few of the highlights
Strong start and continued progress against strategic priorities
• Underlying sales growth (USG) accelerated to 10.5%, driven by progress against strategic priorities
• Growth was broad-based across Business Groups and geographies
• Price growth remained elevated at 10.7%, with an improved quarter-on-quarter volume performance at -0.2%
• Turnover increased 7.0% to €14.8 billion, including a currency impact of -0.4% and -2.8% from disposals net of acquisitions
• Our €1 billion+ brands, accounting for 54% of Group turnover, delivered underlying sales growth of 12.1%, led by strong performances from OMO, Hellmann’s, Rexona and Lux
• Continued portfolio reshaping with the announced sale of the Suave brand in North America
• Third €750 million share buyback tranche, announced in March, will complete in July 2023
• Quarterly interim dividend for Q1 2023 is maintained at €0.4268
According to the statement from Alan Jope, CEO, “Unilever has had a good start to the year, delivering another quarter of strong topline growth. Underlying sales growth accelerated to 10.5%, driven by price growth in response to continued high input cost inflation and an improved volume performance.
“We are continuing to execute well on our strategic priorities. Growth was broad-based across the five Business Groups, underpinned by strong performances from our €1 billion brands. We have stepped up both the effectiveness of our innovation and the investment behind our brands. We continue to shift our portfolio into higher growth spaces, with the delivery of another quarter of double-digit sales growth in Prestige Beauty and Health & Wellbeing, and the announced sale of Suave in North America. Our new operating model is driving focused resource allocation, and is unlocking a culture of bolder, faster decision-making and disciplined execution.
“We remain focused on navigating through continued macroeconomic uncertainty and are confident in our ability to deliver another year of strong growth, which remains our first priority.”
(Twitter)