1. Home
  2. ...
  3. Press releases
  4. Half-year results show consistent growth led by emerging markets

哥哥日哥哥射哥哥干一本道一本道电影北京海淀区年底前将发布深夜食堂美食地图

發布時間︰

《音樂與音樂家》月刊八月號,有美作曲家Copland[考普倫]?的一篇論列美洲音樂的創作問題,我覺得他根本未接觸到關鍵。他絕未提到美洲人是英、法、德、荷、意、西幾種民族的混合;混合的民族要產生新文化,尤其是新音樂,必須一個很長的時期,決非如Copland[考普倫]所說單從jazz[爵士音樂]的節奏或印第安人的音樂中就能打出路來。民族樂派的建立。本地風光的表達,有賴于整個民族精神的形成。歐洲的意、西、法、英、德、荷……許多民族、也是從七世紀起由更多的更早的民族雜湊混合起來的。他們都不是經過極長的時期融和與合流的時期,才各自形成獨特的精神面貌,而後再經過相當長的時期在各種藝術上開花結果嗎? 哥哥日哥哥射哥哥干 一九六一年六月十四日夜一本道 對終身伴侶的要求,正如對人生一切的要求一樣不能太苛。事情總有正反兩面︰追得你太迫切了,你覺得負擔重;追得不緊了,又覺得不夠熱烈。溫柔的人有時會顯得懦弱,剛強了又近乎專制。幻想多了未免不切實際,能干的管家太太又覺得俗氣。只有長處沒有短處的人在哪兒呢?世界上究竟有沒有十全十美的人或事物呢?撫躬自問,自己又完美到什麼程度呢?這一類的問題想必你考慮過不止一次。我覺得最主要的還是本質的善良,天性的溫厚,開闊的胸襟。有了這三樣,其他都可以逐漸培養;而且有了這三樣,將來即使遇到大大小小的風波也不致變成悲劇。做藝術家的妻子比做任何人的妻子都難;你要不預先明白這一點,即使你知道“責人太嚴,責己太寬”,也不容易學會明哲、體貼、容忍。只要能代你解決生活瑣事,同時對你的事業感到興趣就行,對學問的鑽研等等暫時不必期望過奢,還得看你們婚後的生活如何。眼前雙方先學習相互的尊重、諒解、寬容。一本道电影

Today, Unilever announced its results for the first half of 2019, which show underlying sales growth of 3.3%, led by our emerging market business which grew 6.2%.

  • Underlying sales grew 3.3% with volume 1.2% and price 2.1%
  • Emerging markets underlying sales growth 6.2% with volume 2.5% and price 3.6%
  • Turnover decreased 0.9% driven by the sale of our spreads business, partially offset by a 1.1% currency benefit
  • Underlying operating margin increased 50bps with 30bps from gross margin
  • Operating margin increased by 40bps
  • Underlying earnings per share increased 5.0%, with constant EPS up 3.0%

Commenting on the results, CEO Alan Jope says: “We have delivered consistent growth within our guided range for 2019, led by our emerging markets. Accelerating growth remains our top priority and we continue to evolve our portfolio and seek out fast growth channel and geographical opportunities, as well as address those performance hotspots where growth is falling short of our aspirations.

“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. Our sustainable business model and portfolio of purpose-led brands are key to delivering superior long-term financial performance.”

Our markets

Growth in our markets was mixed. Market growth in Europe and North America was held back by the impact of weather on ice cream sales. In the emerging markets we continued to see good momentum particularly in China and South East Asia. India saw strong market growth, though it moderated, as expected. Argentina remains hyperinflationary and high levels of pricing continue to weigh on consumer demand.

Unilever overall performance

Underlying sales grew 3.3% with 1.2% from volume and 2.1% from price. Emerging markets grew 6.2%, led by Asia/AMET/RUB, which saw broad-based geographic growth, whilst developed markets were weaker.

In the second quarter, we estimate the 2018 truckers’ strike in Brazil increased USG by 100bps. Second quarter growth was suppressed by around 50bps due to weak ice cream performance; a result of poorer weather, particularly in Europe following two years of very strong summers. 80bps of Argentina price growth in the quarter was excluded from USG due to hyperinflationary status.

Turnover in the first half decreased 0.9% driven by the sale of the spreads business, partially offset by a currency benefit of 1.1%.

Underlying operating margin improved by 50bps. Gross margin was up 30bps, helped by efficiencies from our 5S programme. Overheads had an adverse impact on underlying operating margin of 10bps. Our change programmes have helped to address stranded costs following the disposal of spreads and we continue to invest in the ongoing digital transformation of our business. Brand and marketing investment decreased compared to the prior year, as we continued to deliver zero-based budgeting savings ahead of target, with an increased focus on digital spend. More than two thirds of savings have been reinvested, largely behind innovations and new brand launches.

Beauty & Personal Care

Underlying sales in our Beauty & Personal Care division grew 3.3%.

Deodorants performed well, supported by our Rexona Clinical and Dove Zero aluminium ranges, alongside the extension of Love, Beauty & Planet. New formats continued to drive sales in skin cleansing, including the incremental launch of Dove bath bombs as well as Dove foaming handwash. Good performance in skin care was supported by on-trend innovations including Pond’s InstaBright Glow cream. Hair care saw only modest growth for the first half, with a challenging second quarter particularly in the US. Oral care returned to growth in the second quarter, helped by innovations such as Closeup natural whitening toothpaste and Signal White Now. Our prestige brands, including Dermalogica, Hourglass and REN, saw double digit growth overall, and we announced the acquisitions of Garancia and Tatcha, which are not yet included in USG.

Underlying operating margin in Beauty & Personal Care increased by 100bps, driven by efficiency programmes in brand and marketing investment.

Home Care

Underlying sales in our Home Care division grew 7.4%.

Fabric solutions performed strongly, benefiting from premiumisation and the execution of our strategy to move consumers into products with additional consumer benefits, including Omo Perfect Wash in Brazil. China saw good performance from the relaunch of Omo while in India Surf excel continued to grow double digit. Seventh Generation continues to be rolled out in Europe and North Asia, building on the naturals trend. Home and hygiene grew well, supported by double digit growth from Sunlight, and we launched innovations such as the Cif Cleaner Choices range with natural cleaning ingredients. In Indonesia we used our Home Care brands to run the mosque cleaning programme during Ramadan, an example of purpose-led growth. Good growth in fabric sensations was supported by the launch of a redesigned Comfort core range, focusing on clothes care, as well as a natural variants range. The life essentials category was flat.

Underlying operating margin in Home Care increased by 120bps, with improvements in gross margin, as well as efficiencies in brand and marketing investment and overheads.

Foods & Refreshment

Underlying sales in our Food & Refreshment division grew 1.3%.

In tea, sales declined with volumes impacted by weak consumer demand in developed markets. This was partially offset by black tea in emerging markets and our fruit, herbal and green tea ranges, including Pukka’s premium herbal offering. Sales in dressings were flat with volumes slightly down as competitive intensity remained high. Despite poorer weather in the second quarter compared to the previous two years, ice cream grew slightly over the half. We saw good ice cream performance in Asia/AMET/RUB and from innovations such as Magnum White Chocolate and Cookies. Savoury performance was helped by the launch of new snack pot variants meeting the trend towards convenience. The introduction of Hellmann’s Burger and Spicy Dipping sauces continue to broaden the brand beyond core mayonnaise, and Sir Kensington’s performed well.

Underlying operating margin in Foods & Refreshment decreased by 40bps, as a result of an adverse impact on overheads related to the disposal of our spreads business.

Unilever PLC

Unilever House
100 Victoria Embankment
London EC4Y 0DY
United Kingdom


Press-Office.London@Unilever.com

Unilever NV

Weena 455
3013AL Rotterdam

www.unilever.nl

+31 (0) 10 217 4000
mediarelations.rotterdam@Unilever.com

Safe Harbour

Where relevant, these actions are subject to the appropriate consultations and approvals.

This announcement may contain forward-looking statements, including 'forward-looking statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995. Words such as 'will', 'aim', 'expects', 'anticipates', 'intends', 'looks', 'believes', 'vision', or the negative of these terms and other similar expressions of future performance or results, and their negatives, are intended to identify such forward-looking statements. These forward-looking statements are based upon current expectations and assumptions regarding anticipated developments and other factors affecting the Unilever Group (the 'Group'). They are not historical facts, nor are they guarantees of future performance.

Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements. Among other risks and uncertainties, the material or principal factors which could cause actual results to differ materially are: Unilever's global brands not meeting consumer preferences; Unilever's ability to innovate and remain competitive; Unilever's investment choices in its portfolio management; inability to find sustainable solutions to support long-term growth; the effect of climate change on Unilever's business; customer relationships; the recruitment and retention of talented employees; disruptions in our supply chain; the cost of raw materials and commodities; the production of safe and high quality products; secure and reliable IT infrastructure; successful execution of acquisitions, divestitures and business transformation projects; economic and political risks and natural disasters; financial risks; failure to meet high and ethical standards; and managing regulatory, tax and legal matters. These forward-looking statements speak only as of the date of this announcement. Except as required by any applicable law or regulation, the Group expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Group's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Further details of potential risks and uncertainties affecting the Group are described in the Group's filings with the London Stock Exchange, Euronext Amsterdam and the US Securities and Exchange Commission, including in the Annual Report on Form 20-F 2018 and the Unilever Annual Report and Accounts 2018.

Explore more on these topics:
Back to top

CONNECT WITH US

We're always looking to connect with those who share an interest in a sustainable future.

CONTACT US

Get in touch with Unilever and specialist teams in our headquarters, or find contacts around the world.

Contact us