07/22/2021 | Press release | Distributed by Public on 07/22/2021 07:33
UNILEVER PLC
|
/S/ R SOTAMAA
|
BY R SOTAMAA
|
CHIEF LEGAL OFFICER AND GROUP SECRETARY
|
EXHIBIT NUMBER
|
EXHIBIT DESCRIPTION
|
99
|
Notice to London Stock Exchange dated 22 July 2021
|
Half-year Report
|
Underlying performance
|
GAAP measures
|
||||
vs 2020
|
vs 2020
|
||||
First Half
|
|||||
Underlying sales growth (USG)
|
5.4%
|
Turnover
|
€25.8bn
|
0.3%
|
|
Underlying operating margin
|
18.8%
|
(100)bps
|
Operating margin
|
17.2%
|
(100)bps
|
Underlying earnings per share
|
€1.33
|
(2.0)%
|
Diluted earnings per share
|
€1.19
|
(5.0)%
|
Second Quarter
|
|||||
USG
|
5.0%
|
Turnover
|
€13.5bn
|
1.2%
|
|
Quarterly dividend payable in September 2021
|
€0.4268 per share
|
Alan Jope: Chief Executive Officer statement
|
FIRST HALF OPERATIONAL REVIEW: DIVISIONS
|
Second Quarter 2021
|
First Half 2021
|
||||||||
(unaudited)
|
Turnover
|
USG
|
UVG
|
UPG
|
Turnover
|
USG
|
UVG
|
UPG
|
Change in underlying operating margin
|
€bn
|
%
|
%
|
%
|
€bn
|
%
|
%
|
%
|
bps
|
|
Unilever
|
13.5
|
5.0
|
3.3
|
1.6
|
25.8
|
5.4
|
4.0
|
1.3
|
(100)
|
Beauty & Personal Care
|
5.4
|
4.2
|
2.1
|
2.0
|
10.4
|
3.3
|
1.8
|
1.4
|
(220)
|
Home Care
|
2.6
|
3.2
|
3.1
|
0.1
|
5.2
|
4.5
|
4.8
|
(0.3)
|
(130)
|
Foods & Refreshment
|
5.5
|
6.8
|
4.6
|
2.0
|
10.2
|
8.1
|
5.8
|
2.1
|
60
|
Second Quarter 2021
|
First Half 2021
|
||||||||
(unaudited)
|
Turnover
|
USG
|
UVG
|
UPG
|
Turnover
|
USG
|
UVG
|
UPG
|
Change in underlying operating margin
|
€bn
|
%
|
%
|
%
|
€bn
|
%
|
%
|
%
|
bps
|
|
Unilever
|
13.5
|
5.0
|
3.3
|
1.6
|
25.8
|
5.4
|
4.0
|
1.3
|
(100)
|
Asia/AMET/RUB
|
6.1
|
5.7
|
4.5
|
1.2
|
12.1
|
7.7
|
6.4
|
1.2
|
(30)
|
The Americas
|
4.2
|
4.8
|
0.7
|
4.1
|
8.0
|
5.1
|
1.7
|
3.3
|
(190)
|
Europe
|
3.2
|
4.0
|
4.7
|
(0.6)
|
5.7
|
1.1
|
2.2
|
(1.1)
|
(130)
|
Second Quarter 2021
|
First Half 2021
|
|||||||
(unaudited)
|
Turnover
|
USG
|
UVG
|
UPG
|
Turnover
|
USG
|
UVG
|
UPG
|
€bn
|
%
|
%
|
%
|
€bn
|
%
|
%
|
%
|
|
Developed markets
|
5.8
|
2.2
|
1.6
|
0.6
|
10.8
|
1.5
|
1.4
|
0.2
|
Emerging markets
|
7.7
|
7.2
|
4.7
|
2.4
|
15.0
|
8.3
|
5.9
|
2.2
|
North America
|
2.7
|
1.1
|
(1.1)
|
2.2
|
5.1
|
2.6
|
1.0
|
1.6
|
Latin America
|
1.5
|
11.9
|
4.2
|
7.4
|
2.9
|
9.5
|
3.1
|
6.3
|
ADDITIONAL COMMENTARY ON THE FINANCIAL STATEMENTS - FIRST HALF 2021
|
COMPETITION INVESTIGATIONS
|
NON-GAAP MEASURES
|
First half average rate in 2021
|
First half average rate in 2020
|
|
Brazilian Real (€1 = BRL)
|
6.492
|
5.323
|
Chinese Yuan (€1 = CNY)
|
7.800
|
7.743
|
Indian Rupee (€1 = INR)
|
88.365
|
81.535
|
Indonesia Rupiah (€1 = IDR)
|
17231
|
16055
|
Philippine Peso (€1 = PHP)
|
58.153
|
55.823
|
UK Pound Sterling (€1 = GBP)
|
0.868
|
0.873
|
US Dollar (€1 = US $)
|
1.206
|
1.102
|
€ million
|
First Half
|
|
(unaudited)
|
2021
|
2020
|
Operating profit
|
4,426
|
4,672
|
Non-underlying items within operating profit (see note 2)
|
421
|
412
|
Underlying operating profit
|
4,847
|
5,084
|
Turnover
|
25,791
|
25,714
|
Operating margin (%)
|
17.2
|
18.2
|
Underlying operating margin (%)
|
18.8
|
19.8
|
€ million
|
First Half
|
|
(unaudited)
|
2021
|
2020
|
Taxation
|
972
|
991
|
Tax impact:
|
||
Non-underlying items within operating profit(a)
|
97
|
109
|
Non-underlying items not in operating profit but within net profit(a)
|
(34)
|
(7)
|
Taxation before tax impact of non-underlying items
|
1,035
|
1,093
|
Profit before taxation
|
4,369
|
4,533
|
Non-underlying items within operating profit before tax(a)
|
421
|
412
|
Non-underlying items not in operating profit but within net profit before tax(a)
|
29
|
(21)
|
Share of net (profit)/loss of joint ventures and associates
|
(91)
|
(89)
|
Profit before tax excluding non-underlying items before tax and share of net profit/(loss) of joint ventures and associates
|
4,728
|
4,835
|
Underlying effective tax rate
|
21.9%
|
22.6%
|
€ million
|
First Half
|
|
(unaudited)
|
2021
|
2020
|
Underlying profit attributable to shareholders' equity (see note 6)
|
3,488
|
3,559
|
Impact of translation from current to constant exchange rates and translational hedges
|
||
133
|
(103)
|
|
Impact of price growth in excess of 26% per year in hyperinflationary economies
|
(16)
|
-
|
Constant underlying earnings attributable to shareholders' equity
|
3,605
|
3,456
|
Diluted average number of share units (millions of units)
|
2,627.2
|
2,627.2
|
Constant underlying EPS (€)
|
1.37
|
1.32
|
€ million
|
As at30 June2021
|
As at 31 December2020
|
As at 30 June2020
|
(unaudited)
|
|||
Total financial liabilities
|
(27,542)
|
(27,305)
|
(28,805)
|
Current financial liabilities
|
(6,720)
|
(4,461)
|
(4,792)
|
Non-current financial liabilities
|
(20,822)
|
(22,844)
|
(24,013)
|
Cash and cash equivalents as per balance sheet
|
4,182
|
5,548
|
4,855
|
Cash and cash equivalents as per cash flow statement
|
4,072
|
5,475
|
4,722
|
Add bank overdrafts deducted therein
|
110
|
73
|
133
|
Other current financial assets
|
885
|
808
|
1,100
|
Non-current financial assets derivatives that relate to financial liabilities
|
33
|
21
|
96
|
Net debt
|
(22,442)
|
(20,928)
|
(22,754)
|
€ million
|
First Half
|
|
(unaudited)
|
2021
|
2020
|
Cash flow from operating activities
|
3,961
|
4,427
|
Income tax paid
|
(917)
|
(899)
|
Net capital expenditure
|
(386)
|
(422)
|
Net interest paid
|
(227)
|
(256)
|
Free cash flow
|
2,431
|
2,850
|
Net cash flow (used in)/from investing activities
|
(570)
|
(581)
|
Net cash flow (used in)/from financing activities
|
(4,097)
|
(2,088)
|
OTHER INFORMATION
|
PRINCIPAL RISK FACTORS
|
CAUTIONARY STATEMENT
|
ENQUIRIES
|
Media: Media Relations Team
|
Investors: Investor Relations Team
|
UK +44 78 2527 3767 [email protected]
|
+44 20 7822 6830 [email protected]
|
Or +44 77 7999 9683 [email protected]
|
|
NL +31 10 217 4844 [email protected]
|
|
Or +31 62 375 8385 [email protected]
|
CONSOLIDATED INCOME STATEMENT
|
€ million
|
First Half
|
|||
2021
|
2020
|
Increase/
(Decrease) |
||
Current
rates
|
Constant
rates
|
|||
Turnover
|
25,791
|
25,714
|
0.3%
|
7.1%
|
Operating profit
|
4,426
|
4,672
|
(5.3)%
|
2.6%
|
Which includes non-underlying items credits/(charges) of
|
(421)
|
(412)
|
||
Net finance costs
|
(153)
|
(249)
|
||
Finance income
|
68
|
139
|
||
Finance costs
|
(216)
|
(378)
|
||
Pensions and similar obligations
|
(5)
|
(10)
|
||
Non-underlying item net monetary gain/(loss) arising from hyperinflationary economies
|
(29)
|
21
|
||
Share of net profit/(loss) of joint ventures and associates
|
91
|
89
|
||
Other income/(loss) from non-current investments and associates
|
34
|
-
|
||
Profit before taxation
|
4,369
|
4,533
|
(3.6)%
|
5.2%
|
Taxation
|
(972)
|
(991)
|
||
Which includes tax impact of non-underlying items of
|
63
|
102
|
||
Net profit
|
3,397
|
3,542
|
(4.1)%
|
5.3%
|
Attributable to:
|
||||
Non-controlling interests
|
276
|
258
|
||
Shareholders' equity
|
3,121
|
3,284
|
(5.0)%
|
4.4%
|
Combined earnings per share
|
||||
Basic earnings per share (euros)
|
1.19
|
1.25
|
(5.0)%
|
4.4%
|
Diluted earnings per share (euros)
|
1.19
|
1.25
|
(5.0)%
|
4.4%
|
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
|
€ million
|
First Half
|
|
2021
|
2020
|
|
Net profit
|
3,397
|
3,542
|
Other comprehensive income
|
||
Items that will not be reclassified to profit or loss, net of tax:
|
||
Gains/(losses) on equity instruments measured at fair value through other
comprehensive income
|
55
|
20
|
Remeasurements of defined benefit pension plans(a)
|
968
|
(201)
|
Items that may be reclassified subsequently to profit or loss, net of tax:
|
||
Gains/(losses) on cash flow hedges
|
137
|
43
|
Currency retranslation gains/(losses)(b)
|
617
|
(1,481)
|
Total comprehensive income
|
5,174
|
1,923
|
Attributable to:
|
||
Non-controlling interests
|
299
|
177
|
Shareholders' equity
|
4,875
|
1,746
|
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
|
€ million
|
Called up share capital
|
Share premium account
|
Unification reserve
|
Other reserves
|
Retained profit
|
Total
|
Non- controlling interest
|
Total equity
|
First half - 2021
|
||||||||
1 January 2021
|
92
|
73,472
|
(73,364)
|
(7,482)
|
22,548
|
15,266
|
2,389
|
17,655
|
Profit or loss for the period
|
-
|
-
|
-
|
-
|
3,121
|
3,121
|
276
|
3,397
|
Other comprehensive income, net of tax:
|
||||||||
Gains/(losses) on:
|
||||||||
Equity instruments
|
-
|
-
|
-
|
67
|
-
|
67
|
(12)
|
55
|
Cash flow hedges
|
-
|
-
|
-
|
136
|
-
|
136
|
1
|
137
|
Remeasurements of defined benefit pension plans
|
-
|
-
|
-
|
-
|
968
|
968
|
-
|
968
|
Currency retranslation gains/(losses)
|
-
|
-
|
-
|
576
|
7
|
583
|
34
|
617
|
Total comprehensive income
|
-
|
-
|
-
|
779
|
4,096
|
4,875
|
299
|
5,174
|
Dividends on ordinary capital
|
-
|
-
|
-
|
-
|
(2,252)
|
(2,252)
|
-
|
(2,252)
|
Share capital reduction(a)
|
(20,626)
|
-
|
-
|
20,626
|
-
|
-
|
-
|
|
Repurchase of shares(b)
|
-
|
-
|
-
|
(897)
|
-
|
(897)
|
-
|
(897)
|
Other movements in treasury shares(c)
|
-
|
-
|
-
|
78
|
(101)
|
(23)
|
-
|
(23)
|
Share-based payment credit(d)
|
-
|
-
|
-
|
-
|
82
|
82
|
-
|
82
|
Dividends paid to non-controlling interests
|
-
|
-
|
-
|
-
|
-
|
-
|
(258)
|
(258)
|
Currency retranslation gains/(losses) net of tax
|
-
|
(3)
|
-
|
-
|
-
|
(3)
|
-
|
(3)
|
Hedging gain/(loss) transferred to non-financial assets
|
-
|
-
|
-
|
(89)
|
-
|
(89)
|
(1)
|
(90)
|
Other movements in equity(e)
|
-
|
-
|
-
|
(83)
|
140
|
57
|
14
|
71
|
30 June 2021
|
92
|
52,843
|
(73,364)
|
(7,694)
|
45,139
|
17,016
|
2,443
|
19,459
|
First half - 2020
|
||||||||
1 January 2020 as previously reported
|
420
|
134
|
-
|
(5,574)
|
18,212
|
13,192
|
694
|
13,886
|
Profit or loss for the period
|
-
|
-
|
-
|
-
|
3,284
|
3,284
|
258
|
3,542
|
Other comprehensive income, net of tax:
|
||||||||
Gains/(losses) on:
|
||||||||
Equity instruments
|
-
|
-
|
-
|
16
|
-
|
16
|
4
|
20
|
Cash flow hedges
|
-
|
-
|
-
|
46
|
-
|
46
|
(3)
|
43
|
Remeasurements of defined benefit pension plans
|
-
|
-
|
-
|
-
|
(200)
|
(200)
|
(1)
|
(201)
|
Currency retranslation gains/(losses)
|
-
|
-
|
-
|
(1,387)
|
(13)
|
(1,400)
|
(81)
|
(1,481)
|
Total comprehensive income
|
-
|
-
|
-
|
(1,325)
|
3,071
|
1,746
|
177
|
1,923
|
Dividends on ordinary capital
|
-
|
-
|
-
|
-
|
(2,149)
|
(2,149)
|
-
|
(2,149)
|
Other movements in treasury shares(c)
|
-
|
-
|
-
|
190
|
(126)
|
64
|
-
|
64
|
Share-based payment credit(d)
|
-
|
-
|
-
|
-
|
74
|
74
|
-
|
74
|
Dividends paid to non-controlling interests
|
-
|
-
|
-
|
-
|
-
|
-
|
(210)
|
(210)
|
Currency retranslation gains/(losses) net of tax
|
-
|
(7)
|
-
|
-
|
-
|
(7)
|
-
|
(7)
|
Hedging gain/(loss) transferred to non-financial assets
|
-
|
-
|
-
|
-
|
-
|
-
|
1
|
1
|
Net gain arising from Horlicks acquisition(f)
|
-
|
-
|
-
|
-
|
2,930
|
2,930
|
1,918
|
4,848
|
Other movements in equity(e)
|
-
|
-
|
-
|
-
|
(211)
|
(211)
|
5
|
(206)
|
30 June 2020
|
420
|
127
|
-
|
(6,709)
|
21,801
|
15,639
|
2,585
|
18,224
|
CONSOLIDATED BALANCE SHEET
|
€ million
|
As at
30 June
2021
|
As at
31 December
2020
|
As at
30 June
2020
|
Non-current assets
|
|||
Goodwill
|
19,239
|
18,942
|
19,675
|
Intangible assets
|
16,064
|
15,999
|
16,049
|
Property, plant and equipment
|
10,521
|
10,558
|
11,374
|
Pension asset for funded schemes in surplus
|
4,017
|
2,722
|
2,296
|
Deferred tax assets
|
1,320
|
1,474
|
1,325
|
Financial assets
|
960
|
876
|
815
|
Other non-current assets
|
1,032
|
931
|
896
|
53,153
|
51,502
|
52,430
|
|
Current assets
|
|||
Inventories
|
4,766
|
4,462
|
4,646
|
Trade and other current receivables
|
6,478
|
4,939
|
6,955
|
Current tax assets
|
272
|
372
|
336
|
Cash and cash equivalents
|
4,182
|
5,548
|
4,855
|
Other financial assets
|
885
|
808
|
1,100
|
Assets held for sale
|
828
|
28
|
56
|
17,411
|
16,157
|
17,948
|
|
Total assets
|
70,564
|
67,659
|
70,378
|
Current liabilities
|
|||
Financial liabilities
|
6,720
|
4,461
|
4,792
|
Trade payables and other current liabilities
|
14,799
|
14,132
|
14,602
|
Current tax liabilities
|
1,597
|
1,451
|
1,051
|
Provisions
|
514
|
547
|
530
|
Liabilities held for sale
|
158
|
1
|
1
|
23,788
|
20,592
|
20,976
|
|
Non-current liabilities
|
|||
Financial liabilities
|
20,822
|
22,844
|
24,013
|
Non-current tax liabilities
|
143
|
149
|
289
|
Pensions and post-retirement healthcare liabilities:
|
|||
Funded schemes in deficit
|
832
|
1,109
|
1,275
|
Unfunded schemes
|
1,298
|
1,326
|
1,426
|
Provisions
|
592
|
583
|
642
|
Deferred tax liabilities
|
3,361
|
3,166
|
3,276
|
Other non-current liabilities
|
269
|
235
|
257
|
27,317
|
29,412
|
31,178
|
|
Total liabilities
|
51,105
|
50,004
|
52,154
|
Equity
|
|||
Shareholders' equity
|
17,016
|
15,266
|
15,639
|
Non-controlling interests
|
2,443
|
2,389
|
2,585
|
Total equity
|
19,459
|
17,655
|
18,224
|
Total liabilities and equity
|
70,564
|
67,659
|
70,378
|
CONSOLIDATED CASH FLOW STATEMENT
|
€ million
|
First Half
|
|
2021
|
2020
|
|
Net profit
|
3,397
|
3,542
|
Taxation
|
972
|
991
|
Share of net (profit)/loss of joint ventures/associates and other (income)/loss
|
||
from non-current investments and associates
|
(125)
|
(89)
|
Net monetary (gain)/loss arising from hyperinflationary economies
|
29
|
(21)
|
Net finance costs
|
153
|
249
|
Operating profit
|
4,426
|
4,672
|
Depreciation, amortisation and impairment
|
860
|
987
|
Changes in working capital
|
(1,233)
|
(1,215)
|
Pensions and similar obligations less payments
|
(126)
|
(79)
|
Provisions less payments
|
(29)
|
(66)
|
Elimination of (profits)/losses on disposals
|
-
|
45
|
Non-cash charge for share-based compensation
|
82
|
74
|
Other adjustments
|
(19)
|
9
|
Cash flow from operating activities
|
3,961
|
4,427
|
Income tax paid
|
(917)
|
(899)
|
Net cash flow from operating activities
|
3,044
|
3,528
|
Interest received
|
61
|
80
|
Net capital expenditure
|
(386)
|
(422)
|
Other acquisitions and disposals
|
(275)
|
(623)
|
Other investing activities
|
30
|
384
|
Net cash flow (used in)/from investing activities
|
(570)
|
(581)
|
Dividends paid on ordinary share capital
|
(2,277)
|
(2,120)
|
Interest paid
|
(288)
|
(336)
|
Change in financial liabilities
|
(430)
|
602
|
Repurchase of shares
|
(845)
|
-
|
Other financing activities
|
(257)
|
(234)
|
Net cash flow (used in)/from financing activities
|
(4,097)
|
(2,088)
|
Net increase/(decrease) in cash and cash equivalents
|
(1,623)
|
859
|
Cash and cash equivalents at the beginning of the period
|
5,475
|
4,116
|
Effect of foreign exchange rate changes
|
220
|
(253)
|
Cash and cash equivalents at the end of the period
|
4,072
|
4,722
|
NOTES TO THE CONDENSED FINANCIAL STATEMENTS
|
1 ACCOUNTING INFORMATION AND POLICIES
|
2 SIGNIFICANT ITEMS WITHIN THE INCOME STATEMENT
|
€ million
|
First Half
|
|
2021
|
2020
|
|
Acquisition and disposal-related credit/(costs)
|
(122)
|
(27)
|
Gain/(loss) on disposal of group companies
|
7
|
6
|
Restructuring costs
|
(306)
|
(391)
|
Non-underlying items within operating profit before tax
|
(421)
|
(412)
|
Tax on non-underlying items within operating profit
|
97
|
109
|
Non-underlying items within operating profit after tax
|
(324)
|
(303)
|
Net monetary gain/(loss) arising from hyperinflationary economies
|
(29)
|
21
|
Non-underlying items not in operating profit but within net profit before tax
|
(29)
|
21
|
Tax impact of non-underlying items not in operating profit but within net profit:
|
||
Taxes related to the UK tax audit of intangible income and centralised services
|
(6)
|
-
|
Hyperinflation adjustment for Argentina deferred tax
|
(28)
|
(7)
|
Non-underlying items not in operating profit but within net profit after tax
|
(63)
|
14
|
Non-underlying items after tax(a)
|
(387)
|
(289)
|
Attributable to:
|
||
Non-controlling interests
|
(20)
|
(14)
|
Shareholders' equity
|
(367)
|
(275)
|
(a)Non-underlying items after tax is calculated as non-underlying items within operating profit after tax plus non-underlying items not in operating profit but within net profit after tax.
|
3 SEGMENT INFORMATION - DIVISIONS
|
Second Quarter
|
Beauty & Personal
Care
|
Home
Care
|
Foods & Refreshment
|
Total
|
Turnover (€ million)
|
||||
2020
|
5,320
|
2,617
|
5,355
|
13,292
|
2021
|
5,367
|
2,575
|
5,509
|
13,451
|
Change (%)
|
0.9
|
(1.6)
|
2.9
|
1.2
|
Impact of:
|
||||
Acquisitions (%)
|
2.6
|
-
|
0.2
|
1.1
|
Disposals (%)
|
-
|
(0.2)
|
(0.2)
|
(0.1)
|
Currency-related items (%), of which:
|
(5.7)
|
(4.5)
|
(3.6)
|
(4.6)
|
Exchange rates changes (%)
|
(5.9)
|
(4.8)
|
(3.8)
|
(4.8)
|
Extreme price growth in hyperinflationary markets* (%)
|
0.2
|
0.3
|
0.2
|
0.2
|
Underlying sales growth (%)
|
4.2
|
3.2
|
6.8
|
5.0
|
Price* (%)
|
2.0
|
0.1
|
2.0
|
1.6
|
Volume (%)
|
2.1
|
3.1
|
4.6
|
3.3
|
First Half
|
Beauty & Personal
Care
|
Home
Care
|
Foods & Refreshment
|
Total
|
Turnover (€ million)
|
||||
2020
|
10,610
|
5,328
|
9,776
|
25,714
|
2021
|
10,407
|
5,182
|
10,202
|
25,791
|
Change (%)
|
(1.9)
|
(2.7)
|
4.4
|
0.3
|
Impact of:
|
||||
Acquisitions (%)
|
2.2
|
-
|
1.6
|
1.5
|
Disposals (%)
|
-
|
(0.2)
|
(0.2)
|
(0.1)
|
Currency-related items (%), of which:
|
(7.1)
|
(6.8)
|
(4.8)
|
(6.1)
|
Exchange rates changes (%)
|
(7.3)
|
(6.9)
|
(5.0)
|
(6.3)
|
Extreme price growth in hyperinflationary markets* (%)
|
0.2
|
0.2
|
0.2
|
0.2
|
Underlying sales growth (%)
|
3.3
|
4.5
|
8.1
|
5.4
|
Price* (%)
|
1.4
|
(0.3)
|
2.1
|
1.3
|
Volume (%)
|
1.8
|
4.8
|
5.8
|
4.0
|
Operating profit (€ million)
|
||||
2020
|
2,403
|
744
|
1,525
|
4,672
|
2021
|
2,089
|
655
|
1,682
|
4,426
|
Underlying operating profit (€ million)
|
||||
2020
|
2,495
|
817
|
1,772
|
5,084
|
2021
|
2,215
|
727
|
1,905
|
4,847
|
Operating margin (%)
|
||||
2020
|
22.6
|
14.0
|
15.6
|
18.2
|
2021
|
20.1
|
12.6
|
16.5
|
17.2
|
Underlying operating margin (%)
|
||||
2020
|
23.5
|
15.3
|
18.1
|
19.8
|
2021
|
21.3
|
14.0
|
18.7
|
18.8
|
*Underlying price growth in excess of 26% per year in hyperinflationary economies has been excluded when calculating the price growth in the tables above, and an equal and opposite amount is shown as extreme price growth in hyperinflationary markets.
|
4 SEGMENT INFORMATION - GEOGRAPHICAL AREA
|
Second Quarter
|
Asia /
AMET /
RUB
|
The
Americas
|
Europe
|
Total
|
Turnover (€ million)
|
||||
2020
|
6,063
|
4,210
|
3,019
|
13,292
|
2021
|
6,081
|
4,216
|
3,154
|
13,451
|
Change (%)
|
0.3
|
0.1
|
4.5
|
1.2
|
Impact of:
|
||||
Acquisitions (%)
|
0.2
|
3.3
|
-
|
1.1
|
Disposals (%)
|
-
|
(0.1)
|
(0.2)
|
(0.1)
|
Currency-related items (%), of which:
|
(5.3)
|
(7.4)
|
0.7
|
(4.6)
|
Exchange rates changes (%)
|
(5.4)
|
(7.9)
|
0.7
|
(4.8)
|
Extreme price growth in hyperinflationary markets* (%)
|
0.1
|
0.6
|
-
|
0.2
|
Underlying sales growth (%)
|
5.7
|
4.8
|
4.0
|
5.0
|
Price* (%)
|
1.2
|
4.1
|
(0.6)
|
1.6
|
Volume (%)
|
4.5
|
0.7
|
4.7
|
3.3
|
First Half
|
Asia /
AMET /
RUB
|
The
Americas
|
Europe
|
Total
|
Turnover (€ million)
|
||||
2020
|
11,807
|
8,227
|
5,680
|
25,714
|
2021
|
12,040
|
8,022
|
5,729
|
25,791
|
Change (%)
|
2.0
|
(2.5)
|
0.9
|
0.3
|
Impact of:
|
||||
Acquisitions (%)
|
1.4
|
2.8
|
-
|
1.5
|
Disposals (%)
|
-
|
(0.2)
|
(0.3)
|
(0.1)
|
Currency-related items (%), of which:
|
(6.6)
|
(9.6)
|
0.1
|
(6.1)
|
Exchange rates changes (%)
|
(6.7)
|
(9.9)
|
0.1
|
(6.3)
|
Extreme price growth in hyperinflationary markets* (%)
|
0.1
|
0.4
|
-
|
0.2
|
Underlying sales growth (%)
|
7.7
|
5.1
|
1.1
|
5.4
|
Price* (%)
|
1.2
|
3.3
|
(1.1)
|
1.3
|
Volume (%)
|
6.4
|
1.7
|
2.2
|
4.0
|
Operating profit (€ million)
|
||||
2020
|
2,265
|
1,532
|
875
|
4,672
|
2021
|
2,289
|
1,303
|
834
|
4,426
|
Underlying operating profit (€ million)
|
||||
2020
|
2,394
|
1,622
|
1,068
|
5,084
|
2021
|
2,413
|
1,429
|
1,005
|
4,847
|
Operating margin (%)
|
||||
2020
|
19.2
|
18.6
|
15.4
|
18.2
|
2021
|
19.0
|
16.2
|
14.6
|
17.2
|
Underlying operating margin (%)
|
||||
2020
|
20.3
|
19.7
|
18.8
|
19.8
|
2021
|
20.0
|
17.8
|
17.5
|
18.8
|
*Underlying price growth in excess of 26% per year in hyperinflationary economies has been excluded when calculating the price growth in the tables above, and an equal and opposite amount is shown as extreme price growth in hyperinflationary markets.
|
5 TAXATION
|
€ million
|
First Half 2021
|
First Half 2020
|
||||
Before
tax
|
Tax
(charge)/
credit
|
After
tax
|
Before
tax
|
Tax
(charge)/
credit
|
After
tax
|
|
Gains/(losses) on
|
||||||
Equity instruments at fair value through other comprehensive income
|
56
|
(1)
|
55
|
19
|
1
|
20
|
Cash flow hedges
|
143
|
(6)
|
137
|
71
|
(28)
|
43
|
Remeasurements of defined benefit pension plans(a)
|
1,404
|
(436)
|
968
|
(242)
|
41
|
(201)
|
Currency retranslation gains/(losses)
|
653
|
(36)
|
617
|
(1,516)
|
35
|
(1,481)
|
Other comprehensive income
|
2,256
|
(479)
|
1,777
|
(1,668)
|
49
|
(1,619)
|
6 COMBINED EARNINGS PER SHARE
|
2021
|
2020
|
|
Combined EPS - Basic
|
||
Net profit attributable to shareholders' equity (€ million)
|
3,121
|
3,284
|
Average number of share units (millions of units)
|
2,618.7
|
2,619.0
|
Combined EPS - basic (€)
|
1.19
|
1.25
|
Combined EPS - Diluted
|
||
Net profit attributable to shareholders' equity (€ million)
|
3,121
|
3,284
|
Adjusted average number of share units (millions of units)
|
2,627.2
|
2,627.2
|
Combined EPS - diluted (€)
|
1.19
|
1.25
|
Underlying EPS
|
||
Net profit attributable to shareholder's equity (€ million)
|
3,121
|
3,284
|
Post tax impact of non-underlying items attributable to shareholders' equity (see note 2)
|
367
|
275
|
Underlying profit attributable to shareholders' equity (€ million)
|
3,488
|
3,559
|
Adjusted average number of share units (millions of units)
|
2,627.2
|
2,627.2
|
Underlying EPS - diluted (€)
|
1.33
|
1.35
|
Millions
|
||
Number of shares at 31 December 2020 (net of treasury shares)
|
2,622.0
|
|
Shares repurchased under the share buyback programme
|
(18.0)
|
|
Net movement in shares under incentive schemes
|
1.7
|
|
Number of shares at 30 June 2021
|
2,605.7
|
7 FINANCIAL INSTRUMENTS
|
€ million
|
30 June 2021
|
31 December 2020
|
30 June 2020
|
||||||
Current
|
Non-current
|
Total
|
Current
|
Non-current
|
Total
|
Current
|
Non-current
|
Total
|
|
Cash and cash equivalents
|
|||||||||
Cash at bank and in hand
|
2,625
|
-
|
2,625
|
2,764
|
-
|
2,764
|
2,672
|
-
|
2,672
|
Short-term deposits(a)
|
1,411
|
-
|
1,411
|
2,764
|
-
|
2,764
|
2,176
|
-
|
2,176
|
Other cash equivalents
|
146
|
-
|
146
|
20
|
-
|
20
|
7
|
-
|
7
|
4,182
|
-
|
4,182
|
5,548
|
-
|
5,548
|
4,855
|
-
|
4,855
|
|
Other financial assets
|
|||||||||
Financial assets at amortised cost(b)
|
514
|
148
|
662
|
468
|
138
|
606
|
774
|
129
|
903
|
Financial assets at fair value through
|
|||||||||
other comprehensive income(c)
|
9
|
413
|
422
|
9
|
361
|
370
|
-
|
304
|
304
|
Financial assets at fair value
|
|||||||||
through profit or loss:
|
|||||||||
Derivatives that relate to
financial liabilities
|
40
|
32
|
72
|
59
|
21
|
80
|
69
|
96
|
165
|
Other(d)
|
322
|
367
|
689
|
272
|
356
|
628
|
257
|
286
|
543
|
885
|
960
|
1,845
|
808
|
876
|
1,684
|
1,100
|
815
|
1,915
|
|
Total financial assets(e)
|
5,067
|
960
|
6,027
|
6,356
|
876
|
7,232
|
5,955
|
815
|
6,770
|
€ million
|
Fair value
|
Carrying amount
|
||||
As at 30 June
2021
|
As at 31 December
2020
|
As at 30 June
2020
|
As at 30 June
2021
|
As at 31 December
2020
|
As at 30 June
2020
|
|
Financial assets
|
||||||
Cash and cash equivalents
|
4,182
|
5,548
|
4,855
|
4,182
|
5,548
|
4,855
|
Financial assets at amortised cost
|
662
|
606
|
903
|
662
|
606
|
903
|
Financial assets at fair value through other
|
||||||
comprehensive income
|
422
|
370
|
304
|
422
|
370
|
304
|
Financial assets at fair value through profit and loss:
|
||||||
Derivatives
|
72
|
80
|
165
|
72
|
80
|
165
|
Other
|
689
|
628
|
543
|
689
|
628
|
543
|
6,027
|
7,232
|
6,770
|
6,027
|
7,232
|
6,770
|
|
Financial liabilities
|
||||||
Bank loans and overdrafts
|
(593)
|
(411)
|
(851)
|
(593)
|
(411)
|
(851)
|
Bonds and other loans
|
(26,587)
|
(26,936)
|
(28,206)
|
(24,683)
|
(24,585)
|
(25,837)
|
Lease liabilities
|
(1,694)
|
(1,771)
|
(1,849)
|
(1,694)
|
(1,771)
|
(1,849)
|
Derivatives
|
(224)
|
(315)
|
(76)
|
(224)
|
(315)
|
(76)
|
Other financial liabilities
|
(348)
|
(223)
|
(192)
|
(348)
|
(223)
|
(192)
|
(29,446)
|
(29,656)
|
(31,174)
|
(27,542)
|
(27,305)
|
(28,805)
|
€ million
|
Level 1
|
Level 2
|
Level 3
|
Level 1
|
Level 2
|
Level 3
|
Level 1
|
Level 2
|
Level 3
|
As at 30 June 2021
|
As at 31 December 2020
|
As at 30 June 2020
|
|||||||
Assets at fair value
|
|||||||||
Financial assets at fair value through other comprehensive income
|
7
|
3
|
412
|
5
|
3
|
362
|
5
|
4
|
295
|
Financial assets at fair value
|
|||||||||
through profit or loss:
|
|||||||||
Derivatives(a)
|
-
|
187
|
-
|
-
|
158
|
-
|
-
|
268
|
-
|
Other
|
323
|
-
|
366
|
300
|
-
|
328
|
260
|
-
|
283
|
Liabilities at fair value
|
|||||||||
Derivatives(b)
|
-
|
(311)
|
-
|
-
|
(418)
|
-
|
-
|
(187)
|
-
|
Contingent Consideration
|
-
|
-
|
(159)
|
-
|
-
|
(140)
|
-
|
-
|
(155)
|
8 SHARE BUYBACK PROGRAMME
|
9 ACQUISITIONS AND DISPOSALS
|
Deal completion date
|
Acquired business
|
29 January 2021
|
Acquired 51% of Welly Health, which adds to our health and wellbeing portfolio.
|
28 May 2021
|
Acquired Onnit Lab Inc, a holistic wellness and lifestyle company based in the US. Onnit complements our growing portfolio of innovative wellness and supplement brands.
|
10 ASSETS AND LIABILITIES HELD FOR SALE
|
€ million
|
30 June
2021
Total
|
31 December 2020
Total(a)
|
Property, plant and equipment held for sale
|
2
|
17
|
Disposal groups held for sale
|
||
Non-current assets
|
710
|
5
|
Current assets
|
116
|
6
|
Assets held for sale
|
828
|
28
|
Current liabilities
|
50
|
1
|
Non-current liabilities
|
108
|
-
|
Liabilities held for sale
|
158
|
1
|
11 DIVIDENDS
|
Per Unilever PLC ordinary share (traded on the London Stock Exchange):
|
£ 0.3693
|
Per Unilever PLC ordinary share (traded on Euronext in Amsterdam):
|
€ 0.4268
|
Per Unilever PLC American Depositary Receipt:
|
US$ 0.5031
|
Announcement Date
|
Ex-Dividend Date
|
Record Date
|
Payment Date
|
|
Q2 2021 Dividend
|
22 July 2021
|
5 August 2021
|
6 August 2021
|
8 September 2021
|
Q3 2021 Dividend
|
21 October 2021
|
4 November 2021
|
5 November 2021
|
1 December 2021
|
12 EVENTS AFTER THE BALANCE SHEET DATE
|
DIRECTORS' RESPONSIBILITY STATEMENT
|