2020 FIRST HALF YEAR RESULTS

Performance highlights (unaudited)

Underlying performance

GAAP measures

vs 2019

vs 2019

First Half

Underlyingsales growth (USG)

(0.1)%

Turnover

€25.7bn

(1.6)%

Underlying operating margin

19.8%

50bps

Operating margin

18.2%

60bps

Underlying earnings per share

€1.35

6.4%

Diluted earnings per share

€1.25

9.2%

Second Quarter

USG

(0.3)%

Turnover

€13.3bn

(3.1)%

Quarterly dividend payablein September 2020

€0.4104 per share

First half highlights

  • Underlying sales declined 0.1% with volume declining 0.3% and price growth of 0.2%
  • Turnover decreased 1.6%including a positive impact of 1.1% from acquisitions net of disposals and negative impact of 2.5% from currency
  • Underlying operating profit excluding currency increased 3.8%, before a negative impact of 3.2% from currency
  • Underlying earnings per share up 6.4%, including a negative impact of 3.7% from currency
  • Free cash flow up €1.3 billion to €2.9 billion, reflecting our objective to protect cash during the crisis
  • Quarterly shareholder dividend maintained at €0.4104 per share
  • Completed acquisitions of Horlicks brand from GSK, enhancing presence in healthy nutrition
  • Announced plans to unify the Group legal structure under a single parent company

Alan Jope: Chief Executive Officer statement

"Performanceduring the first half has shown the true strength of Unilever. We have demonstrated the resilience of the business - in our portfolio, in a continued step-up in operational excellence, and in our financial position - and we have unlocked new levels of agility in responding to unprecedented fluctuations in demand.

We have also taken action to strengthen the strategic future of the company by announcing proposals to unify our dual-headed legalstructure, progressing the strategic review of our global tea business and making new commitments to help protect the climate and regenerate nature.

From the start of the Covid-19 crisis, we have been guided by clear priorities in line with our multi-stakeholder business model to protect our people, safeguard supply, respond to new patterns of consumer demand, preserve

cash, and support our communities.

Our focus for the rest of 2020 will continue to be volume led competitive growth, absolute profit and cash delivery as this is the best way to maximise shareholder value.

  1. would like to thank every member of the Unilever team for the outstanding commitment they have shown in the most difficult of circumstances."

23 July 2020

Underlying sales growth (USG), underlying volume growth (UVG), underlying price growth (UPG), underlying operating profit (UOP), underlying operating margin (UOM), underlying earnings per share (underlying EPS), constant underlying EPS, underlying effective taxrate, freecash flow (FCF) and net debtare non-GAAP measures (see pages7to 10)

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Unilever NV published this content on 23 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 July 2020 08:35:14 UTC