Unilever delivered underlying sales growth (USG) of 3.4% in the first quarter of 2025, with a balanced contribution of 1.5% volume growth and 1.9% price growth. Developed markets showed strong performance with 4.3% USG, driven by 3.4% volume growth.
North America's underlying sales grew 5.4%, with 3.7% from volume, reflecting successful portfolio transformation. Europe also demonstrated robust growth of 3.4%, with 2.8% from volume, while emerging markets showed improving momentum, with Asia Pacific Africa growing 3.5%.
Underlying operating margin for H1 2025 was 19.3%, a 30 basis point decline year-on-year, attributed to a strategic increase in brand and marketing investment (BMI) to 15.5% of turnover. The company's productivity program is ahead of schedule, aiming for approximately €650 million in cumulative savings by year-end 2025 and a reduction of 7,500 roles by the end of 2025.
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