Unilever Q3 2023: sales up a ‘solid’ 5.2 percent but volume declines 0.6 percent

Unilever Q3 2023: sales up a ‘solid’ 5.2 percent but volume declines 0.6 percent

THE WHAT? Unilever has reported its results for the third quarter of the current financial year. The UK-based FMCG manufacturer branded its 5.2 percent underlying sales growth as ‘solid’. Turnover dropped 3.8 percent to €15.2 billion as a result of disposals and currency fluctuations.

THE DETAILS The maker of Dove said that underlying price growth continues to moderate as inflation eases with underlying volumes now positive in its Beauty & Wellbeing, Personal Care and Home Care categories.

Emerging markets delivered 8.3 percent sales growth while developed markets put on a modest 0.8 percent, driven by price growth of 6.3 percent. Unilever reaffirmed its guidance for 2023 and, together with its results, set out an action plan to drive growth and unlock potential.

THE WHY? Hein Schumacher, CEO, reveals, “Unilever is a company with strong fundamentals: a portfolio of great brands used by 3.4 billion people each day, number one or two category positions across 80 percent of its turnover, an unrivalled global footprint, and a team of talented people.

“Despite these strengths, our performance in recent years has not matched our potential. The quality of our growth, productivity and returns have all under-delivered.

“Today we are setting out our action plan to close this gap. We will drive faster growth by stepping up innovation and investment behind our Power Brands; we will drive simplicity and productivity, leveraging the full strength of our operating model; and we will sharpen our performance culture through strong leadership and stretching goals.”