Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. United Kingdom
  4. London Stock Exchange
  5. Unilever PLC
  6. News
  7. Summary
    ULVR   GB00B10RZP78

UNILEVER PLC

(ULVR)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Pandemic Buying Patterns Drive Unilever Sales in North America

10/22/2020 | 07:16am EDT

By Saabira Chaudhuri

LONDON -- Unilever PLC said American shoppers are still stocking up on its hand sanitizer and condiments such as Hellmann's mayonnaise, as they weather the ebb and flow of the coronavirus pandemic by washing their hands, staying home more and cooking for themselves.

Key emerging markets are also bouncing back, led by Brazil, where government subsidies have energized consumer spending. Both trends delivered strong sales growth at Unilever, the maker of Ben & Jerry's ice cream and Dove soap.

North American underlying sales -- which strip out currency moves and deal making -- grew 9.1% in the third quarter compared with the same period a year ago, a roaring pace for a market that has in recent years delivered paltry growth. Most of that came from higher volumes, instead of price increases.

Unilever shares were down 1.4% in early trading.

Mayonnaise, Sir Kensington's line of condiments and ice cream brands such as Talenti powered sales were big sellers. With the U.S. still wrestling with rising Covid-19 outbreaks in many places, sales of cleaners -- from Dove soap to Suave hand sanitizer -- were strong, too.

"The U.S. drivers were around hygiene, in particular hand sanitizer," Chief Financial Officer Graeme Pitkethly said Thursday, after the company released sales figures. He also said the company was "seeing very, very strong growth in the foods portfolio. This is all about in-home consumption."

Unilever's beauty and personal-care unit, which includes brands such as Dove and TreSemme shampoo, also performed better than expected globally. Mr. Pitkethly said increased hand washing helped outweigh a continued slump in the use of deodorants, skin care and hairstyling products, which have suffered as people spend more time at home.

In Brazil, one of Unilever's largest emerging markets, President Jair Bolsonaro is funneling generous cash payments to millions of poor to help them ride out the economic storm.

"We saw quite a bounce back in Brazil," Mr. Pitkethly said. In Argentina, another big market, Unilever was able to raise prices and boost revenue.

Unilever differs from its big global peers, such as Procter & Gamble Co. and Reckitt Benckiser Group PLC, because its emerging market footprint is substantially larger than its presence in developed markets, often making for volatile results in individual countries. Investors have been closely focused on whether Brazil, India and other hard-hit emerging economies would recover in the third quarter. Many did, but all for different reasons.

Emerging market underlying sales jumped 5.3% in the quarter, year-over-year, while developed market sales were up 3.1%. In the previous quarter, sales in the emerging world declined, hitting their lowest level on record.

Mr. Pitkethly said the situation in India, where strict lockdowns had disrupted its supply chain, had improved as those strictures eased. Production is back to full capacity.

Growth in China accelerated by double digits, as restaurants and cafes reopened, boosting Unilever's "out of home" sales. Demand also picked up for beauty and personal-care products as economic activity picked up.

Overall, the company reported third-quarter underlying sales growth of 4.4%. That is up from 2.9% a year earlier and well above analyst estimates for 1.3% growth. Total reported sales fell to EUR12.93 billion, equivalent to $15.32 billion, compared with EUR13.25 billion a year earlier. Sales were hurt by big currency fluctuations.

Write to Saabira Chaudhuri at saabira.chaudhuri@wsj.com

(END) Dow Jones Newswires

10-22-20 0715ET

Stocks mentioned in the article
ChangeLast1st jan.
EURO / ARGENTINE PESO (EUR/ARS) 0.11% 114.7691 Delayed Quote.11.61%
EURO / BRAZILIAN REAL (EUR/BRL) 2.66% 6.188 Delayed Quote.-5.00%
RECKITT BENCKISER GROUP PLC -0.88% 5523 Delayed Quote.-15.58%
UNILEVER PLC 1.07% 4151 Delayed Quote.-5.49%
US DOLLAR / ARGENTINE PESO (USD/ARS) 0.00% 96.68 Delayed Quote.14.71%
All news about UNILEVER PLC
07/30UNILEVER : Investors overseeing $14 trln call for vote on company climate plans
RE
07/29RICHARD BRANSON : Exclusive-From Shell to Unilever, plastics polluters back recy..
RE
07/28UNILEVER : Illinois seeks Ben & Jerry's divestment over Israel stance
AQ
07/28UNILEVER : Israeli lawmakers urge Ben & Jerry's to drop settlement ban
AQ
07/28UNILEVER : IDH Farmfit Fund, Rabobank and FMO invest in small-scale farming in d..
AQ
07/28UNILEVER : rejects boycott movement, CEO tells U.S.-based Jewish groups
RE
07/28Economists say inflation won't last; CEOs beg to differ
RE
07/28Packaging producer Smurfit says price inflation here to stay
RE
07/28MARKETMIND : Gearing up for Jay
RE
07/28Packaging producer Smurfit passes on higher input costs to boost earnings
RE
More news
Financials
Sales 2021 51 645 M 61 287 M 61 287 M
Net income 2021 6 048 M 7 177 M 7 177 M
Net Debt 2021 22 300 M 26 464 M 26 464 M
P/E ratio 2021 22,0x
Yield 2021 3,48%
Capitalization 126 B 150 B 150 B
EV / Sales 2021 2,88x
EV / Sales 2022 2,76x
Nbr of Employees 148 949
Free-Float 97,5%
Chart UNILEVER PLC
Duration : Period :
Unilever PLC Technical Analysis Chart | ULVR | GB00B10RZP78 | MarketScreener
Technical analysis trends UNILEVER PLC
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 4 151,00 GBX
Average target price 4 468,89 GBX
Spread / Average Target 7,66%
EPS Revisions
Managers and Directors
Alan Jope Chief Executive Officer & Executive Director
Graeme David Pitkethly Chief Financial Officer & Executive Director
Nils Smedegaard Andersen Chairman
Richard Slater Chief Research & Development Officer
Nitin Paranjpe Chief Operating Officer
Sector and Competitors
1st jan.Capi. (M$)
UNILEVER PLC-5.49%149 883
PROCTER & GAMBLE COMPANY2.22%345 576
THE ESTÉE LAUDER COMPANIES INC.25.41%121 017
HINDUSTAN UNILEVER LIMITED-2.49%73 762
COLGATE-PALMOLIVE COMPANY-2.33%67 255
RECKITT BENCKISER GROUP PLC-15.58%54 843