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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Unilever PLC    ULVR   GB00B10RZP78

UNILEVER PLC

(ULVR)
  Report
Delayed Quote. Delayed London Stock Exchange - 01/22 11:39:55 am
4378 GBX   +0.57%
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Unilever single-minded about challenges ahead as dual-headed era ends

11/27/2020 | 01:18am EST
FILE PHOTO: The company logo for Unilever is displayed on a screen on the floor of the NYSE

LONDON (Reuters) - Unilever's Dutch shares will trade in Amsterdam for the last time on Friday, before a unification of the group's dual-headed structure that aims to put the consumer goods maker on a better footing to cope with an uncertain future.

The merger over the weekend of Unilever's Dutch and British corporate arms into one legal entity based in London will end 90 years as a hybrid company. It comes as the macroeconomic picture is clouded by a pandemic-fuelled recession and looming Brexit.

The move is not expected to impact day-to-day operations for the maker of Hellmann's mayonnaise, Dove soap and Ben & Jerry's ice cream, but will bring greater flexibility in acquiring and exiting businesses, reduced complexity and strengthened corporate governance, Unilever has said.

"The boards consider that unification is in the best interests of Unilever, its shareholders and other stakeholders taken as a whole," the company said last month.

Starting on Monday, Unilever Plc will trade as a single entity on the London Stock Exchange and as an American depositary share in New York. The Plc will also trade on the Euronext in Amsterdam.

"It's a seminal moment in Unilever's history," said Barclays analyst Warren Ackerman, noting the last four CEOs tried and failed to ditch "an outdated 90-year-old legal system that makes them very slow to act on anything".

He said it was a key part of his investment case in the company, which is hoping to reduce a valuation gap between itself and its peers.

The company has said that unification would make it easier to spin off or demerge unwanted units or use equity to make acquisitions. That has sparked speculation about bigger transformational deals.

Ackerman doesn't expect anything big in the near term, but says the company could expand in areas including plant-based food, nutrition, skin care in Asia and household products.

Unilever this week announced the acquisition of SmartyPants Vitamins in the United States.

The previous effort to unify Unilever's structure came after it fended off an unsolicited takeover approach by Kraft Heinz in 2017 that exposed some of its weaknesses.

The following year the company was forced to abandon its plan to unify in the Netherlands, after a revolt by UK investors concerned about forced selling of their shares.

This time around, there is some Dutch opposition to the move, in the form of an "exit tax" proposal by an opposition party in parliament, but it remains under review. Unilever has said the tax would be illegal in its proposed form.

Following the move, Unilever's weight in Britain's FTSE 100 index will more than double, according to Jefferies analysts, from 1.8% to 3.9%.

(Reporting by Martinne Geller; Additional reporting by Bart Meijer in Amsterdam; Editing by Mark Potter)

By Martinne Geller


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BARCLAYS PLC -1.20% 143.06 Delayed Quote.-2.47%
EURO / BRITISH POUND (EUR/GBP) -0.02% 0.88934 Delayed Quote.-0.82%
LONDON STOCK EXCHANGE PLC -0.57% 9120 Delayed Quote.1.24%
MSCI UNITED KINGDOM (STRD, UHD) -0.69% 1069.389 Real-time Quote.4.45%
THE KRAFT HEINZ COMPANY 0.40% 32.91 Delayed Quote.-5.05%
UNILEVER N.V. -0.08% 49.145 End-of-day quote.-0.85%
UNILEVER PLC 0.57% 4378 Delayed Quote.-0.32%
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Financials
Sales 2020 50 341 M 61 260 M 61 260 M
Net income 2020 5 823 M 7 086 M 7 086 M
Net Debt 2020 22 338 M 27 183 M 27 183 M
P/E ratio 2020 21,6x
Yield 2020 3,37%
Capitalization 129 B 157 B 157 B
EV / Sales 2020 3,01x
EV / Sales 2021 2,95x
Nbr of Employees 149 867
Free-Float 63,0%
Chart UNILEVER PLC
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Unilever PLC Technical Analysis Chart | MarketScreener
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Technical analysis trends UNILEVER PLC
Short TermMid-TermLong Term
TrendsNeutralBearishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 19
Average target price 4 756,52 GBX
Last Close Price 4 378,00 GBX
Spread / Highest target 25,6%
Spread / Average Target 8,65%
Spread / Lowest Target -33,8%
EPS Revisions
Managers and Directors
NameTitle
Alan Jope Chief Executive Officer & Executive Director
Nils Smedegaard Andersen Chairman
Nitin Paranjpe Chief Operating Officer
Graeme David Pitkethly Chief Financial Officer & Executive Director
Richard Slater Chief Research & Development Officer
Sector and Competitors
1st jan.Capitalization (M$)
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HINDUSTAN UNILEVER LIMITED0.64%77 544
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RECKITT BENCKISER GROUP PLC-4.10%61 098