LONDON (dpa-AFX) - Consumer goods major Unilever Plc. (UL, ULVR.L) reported Thursday that its first-quarter turnover of 14.8 billion euros dropped 0.9 percent from last year, mainly reflecting 2.7 percent drop from net disposals.
Underlying sales, however, grew 3 percent, with volume growth of 1.3 percent and price of 1.7 percent, reflecting the strength of increasingly premium and innovation-led portfolio in developed markets.
Beauty & Wellbeing, Foods and Ice Cream segments reported growth, while sales fell in Personal Care and Home Care segments.
Looking ahead, for fiscal 2025, the company continues to expect 3 percent to 5 percent underlying sales growth and a modest improvement in underlying operating margin versus 18.4 percent in 2024.
Margins in the first and second half will be more balanced than in 2024. The direct impact of tariffs on profitability is expected to be limited and manageable.
Regarding Ice Cream separation, the company said it is on track to complete it in the fourth quarter of 2025. The new business will be called The Magnum Ice Cream Co. and is expected to operate on a standalone basis from July 1.
Ice Cream will be reported as a discontinued operation from the fourth quarter. Ahead of its demerger, The Magnum Ice Cream Company will hold a Capital Markets Day on 9th September.
Further, in its productivity programme, launched in 2024, the company remains ahead of plan in its delivery of 800 million euros of savings and a reduction of 7,500 mainly office-based roles.
The company continues to expect restructuring costs of around 1.4 percent of Group turnover in 2025.
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