Unilever Plc · LSE:ULVR
Unilever — Q1 2008 Earnings Presentation
9 slides from Unilever's earnings presentation, May 8, 2008
Slide 1: Unilever Q1 2008 Results
Unilever Q1 2008 Results Jim Lawrence Chief Financial Officer Charles Nichols VP Investor Relations 8th May 2008 Safe Harbour Statement This presentation may contain forward-looking statements, including 'forward-looking statements' within the meaning of the United States Private Securities Litigati
Slide 2: Q1 Highlights
Q1 Highlights • Strong organic growth and underlying margin improvement • Sustained marketing investment and determined pricing action • Key innovations drawn from a strong 2008 programme • Productivity and value improvement • Further progress on portfolio Strong organic growth Q1 2008 Turnover €9.6
Slide 3: Europe and Americas
Europe Q1 2008 Underlying Sales Growth +2.3% Operating margin 28.3% Underlying change in margin* +70bps • Central and Eastern Europe continued to grow strongly • Good performances in the UK, Netherlands, Italy and Spain • Underlying margin improvement driven by accelerated restructuring benefits *Ex
Slide 4: Asia Africa; Innovation driving growth
Asia Africa Q1 2008 Underlying Sales Growth +14.2% Operating margin 13.2% Underlying change in margin* +60bps • Balanced price and volume growth • Broad-based growth with excellent performances in China, India and Turkey • Underlying margin improvement benefiting from higher sales *Excluding Restruc
Slide 5: Savoury, Dressings and Spreads; Ice Cream and Beverages
Savoury, Dressings and Spreads Q1 2008 USG 7.9% Ice Cream and Beverages Q1 2008 USG 7.3%
Slide 6: Home Care and Personal Care
Home Care Q1 2008 USG 7.8% Personal Care Q1 2008 USG 5.8%
Slide 7: Operating Margin Development: Q1
Operating Margin Development: Q1 Q1 2007 Q1 2008 Change Operating margin 13.7% 19.0% 5.3% Including RDIs* (0.9)% +4.1% (5.0)% Underlying change 0.3% Key drivers: A&P +0.1% Savings +2.0% Cost/price/mix (1.8)% * Restructuring, disposals and one-off items Mitigating the impact of commodity costs Commod
Slide 8: Drivers of Q1 EPS Growth; Balance Sheet and Cash Flow
Drivers of Q1 EPS Growth 2007 2008 Change EPS (€) 0.35 0.47 35% Includes RDIs*, after tax 0.01 0.12 Underlying growth in EPS - at current exchange rates 2% - at constant exchange rates 6% * Restructuring, disposals and one-off items Balance Sheet and Cash Flow • Net cash flow from operations €0.1bn
Slide 9: Conclusions
Conclusions • Good start to the year • On track to deliver competitive growth and underlying margin improvement in 2008 • Underlying sales growth to exceed 3-5% range Unilever Q1 2008 Results