Unilever, a global FMCG giant, has announced its financial results for FY23, emphasizing the implementation of its growth action plan. Despite some headline figures showing declines, underlying figures reveal positive trends, reflecting the company’s strategic investments and brand portfolio adjustments.
Underlying sales grew by 7%, driven by positive volumes, with a 0.2% increase for the full year and 1.8% in Q4. Although total turnover dipped by 0.8% to €59.6 billion and net profit decreased by 13.7% to €7.1 billion, underlying operating profit rose by 2.6% to €9.9 billion. Notably, Q4 underlying sales growth of 4.7% exceeded analysts’ expectations.
Key operating units, Beauty & Wellbeing and Personal Care, experienced significant growth on an underlying basis. Beauty & Wellbeing turnover increased by 8.3% and Personal Care turnover by 8.9%. Unilever is focusing on elevating core brands in Hair Care and Skin Care, promoting premiumization and selective international expansion in the prestige beauty segment.
Prestige Beauty and Health & Wellbeing portfolios, particularly in the US, saw double-digit growth, supported by successful relaunches and strategic acquisitions. Personal Care emphasized science-led brands and innovation, leading to strong growth in Deodorants and Skin Cleansing categories.
Marketing investment, including sponsorships like the FIFA deal, contributed to the success of innovative products and brand relaunches. Overall, Unilever’s commitment to growth and innovation has driven positive results across its key business units.
