TG盗号系统VIP免杀技术|【唯一TG:@heimifeng8】|飞机盗号软件VIP破解技术✨谷歌搜索留痕排名,史上最强SEO技术,20年谷歌SEO经验大佬✨Unilever's underlying beauty growth continues, 'premiumisation' helps
Sandra Halliday Published
February 8, 2025
Global FMCG giant Unilever has unveiled its result for FY23 and along with the figures said it’s implementing its growth action plan “at pace”.
And there were clear signs of this during the period because although the headline figures included some negatives, it's more useful to look at underlying figures given the big changes the company is making, including heavy investment and selling off some brands.
It said it saw underlying sales growth of 7% with positive volumes, up 0.2% for the full year and 1.8% in Q4. Total turnover actually dipped 0.8% to €59.6 billion with net profit down 13.7% at €7.1 billion. But underlying operating profit rose 2.6% to €9.9 billion. And the overall Q4 underlying sales growth of 4.7% was slightly above analysts expectations.
Let’s look specifically at two key operating units — Beauty & Wellbeing and Personal Care. Its Beauty & Wellbeing turnover rose just 1.8% to €12.5 billion but on an underlying basis was up 8.3%. And Personal Care turnover rose a narrower 1.4% to €13.8 billion but, again, was up much more strongly on an underlying basis at 8.9%.
Beauty & Wellbeing accounts for as much as 21% of total group turnover and the company is heavily focused on elevating its core Hair Care and Skin Care brands to “increase premiumisation”, as well as fuelling the growth of its prestige beauty operations with selective international expansion.
As mentioned, it saw 8.3% underlying growth, which divided into a 4.4% volume increase and a 3.8% price increase for the year. In the fourth quarter alone underlying turnover in this area increased 7.9% to €3.2 billion with volume growth up 6.3% and price growth of 1.5%.
It said the unit “delivered a strong full-year performance” , with volume growth accelerating through the year. It saw good volumes in Hair Care and very strong volumes in Health & Wellbeing.
The full-year performance reflected continued strong growth in Prestige Beauty and Health & Wellbeing, which now account for a quarter of Beauty & Wellbeing's turnover, as well as successful relaunches of some of its core Hair Care and Skin Care brands.
Its US-centric Prestige Beauty and Health & Wellbeing portfolios, “built over several years through carefully selected bolt-on acquisitions, continued to grow ahead of the market delivering double-digit growth for the year”.
This was supported by strong performances from Hourglass, Dermalogica and Paula's Choice, which launched a Vitamin C range, using its “core science and technology capabilities”.
Meanwhile, Personal Care, which accounts for an even greater 23% of the entire group turnover, “focused on winning with science-led brands that deliver unmissable superiority to our consumers across Deodorants, Skin Cleansing, and Oral Care”.
As mentioned underlying turnover rose 8.9%, which divided into 3.2% volume growth and 5.5% price growth. In the fourth quarter alone underlying turnover was up 6.4% to €3.4 billion with 2.5% of that accounted for by volume increases and 3.8% by price rises.
Personal Care's full-year growth was led by its Power Brands and “science-backed innovations. These innovations offer functional benefits but also deliver enhanced health, hygiene, and superior skin cleansing”. It “supported these innovations with a step-up in marketing investment, including strategic sponsorships such as our first sponsorship deal with FIFA”.
Deodorants grew in double-digits led by strong volume growth, particularly in Europe and Latin America.
Skin Cleansing delivered mid-single-digit growth with positive volumes. Lux grew double-digit driven by elevated skin care benefits in soap bars from its ProGlow technology. In the US, Dove grew mid-single digit supported by its Body Wash relaunch with new packaging and 24-hour renewing MicroMoisture technology.