Bloomberg29 Apr 2021 08:31
By John Martens and Bloomberg Automation
(Bloomberg) -- Unilever reported underlying sales for the
first quarter that beat the average analyst estimate.
* 1Q underlying sales +5.7%, estimate +3.37% (Bloomberg
Consensus)
* 1Q underlying volume +4.7%, estimate +2.83%
* 1Q underlying pricing +1%, estimate +0.97%
* 1Q dividend per share EU0.4268
* 1Q revenue EU12.33 billion, estimate EU12.05 billion
* Separation of Tea Business to Be Completed by Year-End
* Confident to Deliver FY Usg Within Multi-Yr Framework
* Sees 1H Underl. Sales Growth Around Top of 3-5% Range
* To Start Share Buyback Programme of up to EU3B in May
* Unilever: separation of a number of smaller beauty and
personal care brands is also underway. The brands include Q-
Tips, Caress, Tigi, Timotei, Impulse and MonSavon, and together
generated revenues of around EU0.6 billion in 2020
* In 2021 we expect to deliver underlying sales growth within
our multi-year framework of 3-5%, with the first half at around
the top of this range. We expect underlying operating margin to
increase slightly in the full year, following a decline in the
first half which is driven by a number of factors. Covid-19
continues to cause additional supply chain costs and a negative
margin mix. Commodity and freight costs have increased further
and we will be lapping lower marketing spend in the first half
of last year