Unilever Plc · LSE:ULVR
Unilever — Q1 2005 Earnings Presentation
14 slides from Unilever's earnings presentation, 2005
Slide 1: Unilever Q1 2005 Results Presentation
Unilever Q1 2005 Results Presentation John Rothenberg This presentation may contain forward-looking statements, including ‘forward-looking statements’ within the meaning of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon current exp
Slide 2: Changes to Results Presentation
Changes to Results Presentation • IFRS • Restructuring charges, including disposals, now in operating margin • New regional reporting segments: – Europe – Americas – Asia/Africa • Income statement at current exchange rates 2 2
Slide 3: Q1 2005 Trading Environment
Q1 2005 Trading Environment • Markets – Western Europe remains challenging – North America some pick up – Healthy growth in D&E • Competition – Stiff price competition in Europe – Competition across price points in D&E • Costs – Agricultural commodities easing – Mineral oil costs remain high 3 3
Slide 4: Q1 2005 Underlying Sales Growth
Q1 2005 Underlying Sales Growth As reported Estimated Like for Like Europe +3.1% (2)% Americas +6.8% +4% Asia/Africa +10.1% +7% Total +6.0% +2% 4 4
Slide 5: Regaining Momentum in Europe - Foods
Regaining Momentum in Europe - Foods • Gaining share in key categories • Improved performance in most major countries • Driven by innovation and the core Growth through Innovation Supporting the Core Dairy Cream pro.activ Alternatives Magnum Five Senses Flora/Becel Spreads 5 5
Slide 6: Regaining Momentum in Europe - HPC
Regaining Momentum in Europe - HPC Weak markets demand strong innovation New Dirt Is Good Communication Dove Silk Dry Deodorant Persil with the Essence of Surf Tropical Sunsilk Hair Styling Comfort 6 6
Slide 7: Building On Strengths - Personal Care
Building On Strengths - Personal Care Continued strength in Deodorants Strong programme in Skin Rexona Teens Lux Body Wash Latin America Asia Improved momentum in Hair Suave Dove Hair North America Japan 7 7
Slide 8: Building On Strengths - D&E
Building On Strengths - D&E • Major contribution to growth in the quarter – €300m additional sales – 7% “like for like” USG • Broad-based progress across countries and across Foods and HPC 8 8
Slide 9: Building on Strengths - Vitality
Building on Strengths - Vitality Knorr Vie Hellmann’s Lifebuoy 9 9
Slide 10: Q1 2005 Operating Margin Development
Q1 2005 Operating Margin Development Q1 2005 15.3 % Q1 2004 14.5 % Change +80 bps Including - €73m of disposal gains in the quarter - substantially lower gross restructuring 05 vs 04 Drivers of operating margin in the quarter: • Zero overall price growth • Savings and mix broadly offset higher costs
Slide 11: Q1 2005 Key Financials
Q1 2005 Key Financials • EPS +25% benefiting from – one-off tax effects – restructuring and disposals – calendar effects • Tax rate in the quarter 23% • Net debt €10.1bn at quarter end 11 11
Slide 12: Other Developments
Other Developments • Unilever Executive operational from April • Over 100 senior appointments announced since February • Corporate Structure Review team appointed 12 12
Slide 13: Key Messages
Key Messages • Early days… but signs of progress • Improvement in Personal Care and D&E, but more to do in Europe • Difficult cost and pricing environment • Sustained investment in market competitiveness • Driving hard on cost competitiveness • Focus profitable sustainable growth 13 13
Slide 14: Unilever Q1 2005 Results Presentation
Unilever Q1 2005 Results Presentation John Rothenberg This presentation may contain forward-looking statements, including ‘forward-looking statements’ within the meaning of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon current exp