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MarketScreener Homepage  >  Equities  >  Nasdaq  >  The Kraft Heinz Company    KHC

THE KRAFT HEINZ COMPANY

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Unilever first-quarter sales top expectations

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04/18/2019 | 02:59am EDT
FILE PHOTO: Unilever headquarters in Rotterdam

LONDON (Reuters) - Consumer goods group Unilever reported stronger than expected quarterly underlying sales growth, helped by higher prices and volume, and strength in emerging markets.

The maker of Dove soap and Ben & Jerry's ice cream also on Thursday stood by its outlook for the full year, which calls for underlying sales growth in the lower half of a 3 to 5 percent range.

Rival Nestle also reported better-than-expected first-quarter sales on Thursday.

Following its first quarter under new chief executive Alan Jope, Anglo-Dutch Unilever also stood by its 2020 target for an underlying operating margin of 20 percent, set by Jope's predecessor Paul Polman in the wake of 2017's rebuffed $143 billion takeover offer by Kraft Heinz .

Unilever's underlying operating margin was 18.4 percent in 2018.

In the first quarter, Unilever's underlying sales, stripping out acquisitions, disposals and currency moves, rose 3.1 percent. Analysts on average were expecting a 2.8 percent rise, according to a company-supplied consensus forecast.

Growth was balanced, with a 1.9 percent contribution from pricing, which is less than analysts expected, and 1.2 percent from volume gains, which is more than expected.

Chief Financial Officer Graeme Pitkethly told Reuters that many of the price increases were taken in emerging markets, where it is often easier to hold onto sales volume despite price increases.

Turnover fell 1.6 percent to 12.4 billion euros, due to the disposal of the spreads business.

(Reporting by Martinne Geller; Editing by Mark Potter and David Holmes)

By Martinne Geller

Stocks treated in this article : Unilever (NL), Unilever, The Kraft Heinz Company
Stocks mentioned in the article
ChangeLast1st jan.
THE KRAFT HEINZ COMPANY -1.08% 31.11 Delayed Quote.-26.93%
UNILEVER 0.92% 4883.5 Delayed Quote.17.78%
UNILEVER (NL) 1.24% 54.76 Delayed Quote.14.07%
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Financials ($)
Sales 2019 25 900 M
EBIT 2019 5 420 M
Net income 2019 3 620 M
Debt 2019 28 127 M
Yield 2019 5,33%
P/E ratio 2019 10,81
P/E ratio 2020 10,53
EV / Sales 2019 2,57x
EV / Sales 2020 2,49x
Capitalization 38 351 M
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Mean consensus HOLD
Number of Analysts 20
Average target price 35,6 $
Spread / Average Target 13%
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Managers
NameTitle
Bernardo Vieira Hees Chief Executive Officer
Alexandre Behring da Costa Chairman
Joao Araujo Head-Global Operations
David H. Knopf Chief Financial Officer & Executive Vice President
Melissa Alves Werneck Senior VP-Global People, Performance & IT
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