Unilever Q1 2022: sales rise 7.3 percent as prices soar

Unilever Q1 2022: sales rise 7.3 percent as prices soar

THE WHAT? Unilever has announced its results for the first quarter of fiscal 2022. The manufacturer of Dove reported underlying sales growth of 7.3 percent, with 8.3 percent from price and volume down 1 percent. All divisions grew strongly, the UK-based FMCG manufacturer said. Turnover increased 11.8 percent to €13.8 billion.

THE DETAILS Beauty and personal care saw sales rise 7.1 percent in the first three months of the year, driven by price and continued strong growth in the prestige and vitamins, minerals and supplements categories.

Emerging markets grew by 9.5 percent with a 10.2 contribution from price and volumes slightly negative. Developed markets increased by 4.1 percent, with 5.7 percent from price and volume down by 1.5 percent.

THE WHY? CEO Alan Jope explains, “We are executing well in a very challenging input cost environment. Underlying sales growth of 7.3 percent was driven by strong pricing, with a limited impact on volume in the quarter. This performance was delivered against the backdrop of significant rises in input costs that have further accelerated through the first three months of the year, and the human tragedy of the war in Ukraine…

“Our priority markets of the USA, India and China all grew competitively. We continue to reshape our portfolio into high growth spaces, with Prestige Beauty and Functional Nutrition again growing strongly. We remain on track to deliver the previously announced, simpler, more category-focused organisation structure on 1 July 2022.”

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