RetailDetail EU
Europe - EN
  • België - NL
  • Belgique - FR
  • Nederland - NL
  • Europe - EN
  • About us
  • Contact
  • Subscribe
  • Sign in user
  • News
    • Food
    • Fashion
    • Home
    • Electronics
    • Beauty/Care
    • DIY/Garden
    • Leisure
    • General
  • RetailDetail Plus
  • Events
  • Hunts
  • RetailHub
  • Advertising & Partnerships
    • EVENT PARTNERSHIPS
    • PRINT ADVERTISING
    • ONLINE ADVERTISING
RetailDetail EU
Europe - EN
  • België - NL
  • Belgique - FR
  • Nederland - NL
  • Europe - EN
  • About us
  • Contact
  • Sign in user
  • News
    • Food
    • Fashion
    • Home
    • Electronics
    • Beauty/Care
    • DIY/Garden
    • Leisure
    • General
  • RetailDetail Plus
  • Events
  • Hunts
  • RetailHub
  • Advertising & Partnerships
    • EVENT PARTNERSHIPS
    • PRINT ADVERTISING
    • ONLINE ADVERTISING
thumb
Written by Pauline Neerman
In this article
  • Companies Unilever
  • Topics Financial results
  • Geography United Kingdom
Share article
  • facebook
  • instagram
  • twitter
  • linkedin
  • email

Inflation grants Unilever huge profit growth

icon
Beauty/Care10 February, 2023

The cost-of-living crisis is not bothering Unilever. On the contrary: the FMCG giant saw its profits rise by a quarter in 2022. The company’s major reorganisation has also been completed.

Price effects

The calendar year 2022 brought Unilever some strong financial figures: in all five of the company’s new Business Groups, sales increased. Sharp price increases rather than sales growth were to thank for this: prices rose by 11.3 % on average, while volume fell by 2.1 %.

Total sales rose 14.5 % to 60.1 billion euros. The so-called billion-dollar brands, which account for 53 % of sales, grew by 10.9 %. The strongest performers were OMO, Hellmann’s, Rexona, Sunsilk and Magnum.

Huge profit rise

Since 1 July, the company has been reorganised around five revised product categories. For example, there is now a division for Beauty & Wellbeing, separate from Personal Care (including toothpaste and deodorants), while Ice Cream now encompasses all ice creams, whether for home or on-the-go. That restructuring also resulted in a major round of layoffs.

Inflated buying costs did cause a small dent in the margin (- 230 basis points), but still the underlying operating profit improved slightly to 9.7 billion euros. Net profit was over 8 billion euros, a notable increase by 24.9 %.

Chinese eagerness

The producer of A-brands like Knorr will continue to raise prices in 2023 as well, certainly in the first half of the year. Costs will continue to rise, and they will no longer fall, outgoing CEO Alan Jope thinks. Still, he expects volumes to improve: he counts on at least 4 % growth.

Especially in China and Southeast Asia consumption may well explode, as they recover after years of pandemic restrictions. The Chinese have been unable to spend anything there for so long that their savings books are now overflowing: they are booking plenty of airline tickets and hotels, so even abroad they will boost consumption.

Stay up-to-date

Receive our free newsletters and do not miss out on the latest retail news.

Subscribe
logo

The cost-of-living crisis is not bothering Unilever. On the contrary: the FMCG giant saw its profits rise by a quarter in 2022. The company's major reorganisation has also been completed.

More on Beauty/Care
See more
  • icon
    Beauty/Care11 September, 2023
    [Interview] Stefan Pichler (Henkel): “When purchasing power improves again, brands will be on the winning side”

    Henkel has not fully passed higher costs on to consumers, and this year as well price increases will remain limited, Stefan Pichler says. The President Benelux believes that consumers will soon return to strong A-brands from private labels.

  • icon
    Beauty/Care29 August, 2023
    Owner looking to put The Body Shop up for sale

    Cosmetics chain The Body Shop may come up for sale, as Brazilian owner Natura & Co is exploring strategic options for the chain whose sales have been disappointing for some time.

  • icon
    Beauty/Care24 August, 2023
    Douglas maintains fast growth pace

    Beauty chain Douglas, which has just opened its first store in Belgium, has grown across all segments, channels and categories in the last quarter.

Events
  • 19
    Oct
    Category Management Congress
  • 23
    Nov
    RetailDetail Night
Most read
  • icon
    Fashion13 September, 2023
    Inditex achieves record margins in inflationary times
  • icon
    Fashion19 September, 2023
    H&M ends free returns
  • icon
    Food8 September, 2023
    Carrefour exposes “shrinkflation” in stores
  • icon
    Fashion15 September, 2023
    H&M Group flatlines this summer
Follow RetailDetail
  • socialFacebook
  • socialTwitter
  • socialInstagram
  • sociallinkedIn
footer-logo
RetailDetail, the leading b2b-retailcommunity in the Benelux, keeps retail professionals up-to-date by means of online & offline publications, retail events, inspiring retail hunts and the unique co-creation platform retailhub, where retailers and their suppliers can experience the future of shopping.
RetailDetail Mailing Address:
Kolveniersstraat 7, bus 26 
2000 Antwerp
Visiting address:
Stadsfeestzaal – Meir 78 
2000 Antwerp
How to reach us:
Directions
© 2023 RetailDetail
general conditions | privacy policy
+32 3 500 89 59 info@retaildetail.be
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies.
Accept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT