Unilever reported solid financial performance for the first half of 2025, which includes the second quarter, with underlying sales growth of 3.4%. This growth was characterized by a healthy balance of volume (1.5%) and price (1.9%) increases, with volumes improving sequentially across all business groups.
Turnover for the first half of 2025 was €30.1 billion, a 3.2% year-on-year decline, primarily due to a 4% negative currency impact and a 2.5% impact from net disposals. Underlying operating profit for H1 2025 was €5.8 billion, a 4.8% decline, leading to an underlying operating margin of 19.3%, down 30 basis points.
Despite these headwinds, Unilever remains committed to accelerating growth in the second half of the year, driven by continued outperformance in developed markets and improving trends in emerging economies. The company is confident in achieving around 100% free cash flow conversion for the full year.
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