Unilever turnover dips as turnaround fails to gain pace
Unilever has reported a dip in turnover despite a year-long turnaround plan aimed at revitalising the business.
Turnover at the consumer goods giant fell 0.9 per cent year year to €14.8bn (£12.65bn) in the first quarter of 2025.
This was driven by slumps in personal and home care products, which fell by 4.4 per cent and 4.2 per cent respectively.
Underlying sales grew by three per cent overall, with personal and home care products growing by 5.1 per cent and 0.9 per cent, respectively.
The company said disposals accounted for a 2.7 dip in turnover during the period.
Share in the company dipped by around one per cent in early trades.
Unilever, which makes well-known household brands such as Hellman’s and Magnum, is mid-way through a major turnaround plan.
The scheme, which Unilever said was “ahead of plan”, aims to deliver €800m of savings.
Chief executive Fernando Fernandez, who took the post on in March, called the company’s performance “resilient”.
Fernandez said he had “confidence [Unilever] will deliver on its full-year plans” and that the company was “moving at pace”.
Unilever reconfirmed its full-year 2025 outlook of three to five per cent sales growth, but said it was “conscious that the macroeconomic environment, currency stability and consumer sentiment remain uncertain and we will be agile in adjusting our plans as necessary”.
The Magnum Ice Cream Company
Unilever confirmed that it would spin off its ice-cream arm in the fourth quarter of the year.
The new business, which will have a primary listing in Amsterdam and secondary listings in London and New York, will operate on a standalone basis from July 1.
The business will include five of the world’s top-ten selling ice-cream brands including Wall’s and Ben & Jerry’s.