Unilever 2022 Net Profit Rose; 4Q Turnover Increased on Higher Prices
09 Février 2023 - 08:50AM
Dow Jones News
By Joe Hoppe
Unilever PLC reported Thursday an increase in net profit for
2022, beating market expectations for the year, while fourth
quarter turnover rose.
The Anglo-Dutch retailer--which owns consumer brands such as Ben
& Jerry's ice cream and Dove soap--posted a net profit of 7.64
billion euros ($8.18 billion) for the year compared with EUR6.05
billion for 2021 and a consensus of EUR6.48 billion, taken from
FactSet and based on 18 analysts' estimates.
Adjusted operating profit--one of the company's preferred
metrics, which strips out exceptional and other one-off items--was
EUR9.68 billion compared with EUR9.64 billion in 2021 and a
company-compiled consensus of EUR9.65 billion.
Turnover rose to EUR60.07 billion from EUR52.44 billion for the
year-earlier period. Turnover was expected to rise to EUR59.85
billion for 2022, according to the company-compiled consensus. For
the fourth quarter, turnover rose 11.4% to EUR14.61 billion
compared to a consensus of EUR14.39 billion.
Underlying sales growth for the full year accelerated to 9.0%,
driven by price action in response to high input cost inflation and
across all business groups. Within this, prices rose 11.3%, though
volumes fell 2.1%.
The board declared a fourth-quarter dividend of EUR0.4268, flat
on a year prior.
The company continues to expects high cost inflation in 2023,
and sees full-year underlying sales growth in the upper half of its
multi-year range of 3%-5%.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
February 09, 2023 02:35 ET (07:35 GMT)
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