Half Year 2026 Unilever PLC Earnings Call Transcript

Jul 28, 2026 / 07:00 AM GMT

Release Date Price: €58.39 (+7.93%)

Transcript

Key Points

Positve

Unilever PLC (UL) reported strong volume-led growth with underlying sales growth of 5.8% in the second quarter, marking the best quarterly volume performance since 2010.
The company's power brands, which now account for 78% of turnover, delivered underlying sales growth of 6.9% in the second quarter, driven by strong volume growth.
Emerging markets showed robust performance with 8.3% growth in the second quarter, led by India with a 10% increase in underlying sales.
Unilever PLC (UL) achieved a 10 basis points margin expansion and earnings growth of 2.4% in hard currency, demonstrating effective cost management.
The company successfully leveraged cultural events like the FIFA World Cup to enhance brand engagement and market presence, involving over 50,000 content creators and reaching a combined audience of more than 600 million people.

Negative

Unilever PLC (UL) faced challenges in the foods segment, with growth slowing to 0.2% in the second quarter due to increased competition in premium segments in North America and Europe.
The oral care business underperformed compared to other segments, with low single-digit growth and increased competition impacting market share.
Currency fluctuations negatively impacted first-half turnover by 4.9%, although this effect is expected to moderate in the second half.
The company anticipates potential market disruptions in Brazil due to upcoming tax reforms, which could lead to temporary retail stock reductions in the fourth quarter.
Despite strong overall performance, the skincare segment experienced low single-digit growth, with legacy brands like Glow & Lovely and Ponds facing challenges in rapidly premiumizing markets.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

ULVR.L - Unilever PLC
Half Year 2026 Unilever PLC Earnings Call
Jul 28, 2026 / 07:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good morning, and thank you for joining us for Unilever's second quarter and a half year results. In a moment, Srini will take you through the details of the results. But first, let me highlight the key elements of our performance over the first half as I see them and how desire at scale is fundamental to our strong delivery. I have said consistently that volume growth is our overriding priority. It is a true measure of demand. An even more important signal of progress during times like this of heightened volatility. It is particularly encouraging, therefore, to be able to present today a strong volume led half for Unilever, and not just a strong performance, but an accelerating one, with underlying sales growth in the second quarter of 5.8%,

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