Unilever's 2020 Net Profit Falls, Missing Market Expectations -- Update
04 Febbraio 2021 - 9:43AM
Dow Jones News
By Sabela Ojea
Unilever PLC reported Thursday a fall in net profit for 2020,
missing market expectations for the year, but said it has begun
2021 in good shape and is confident it can adapt to a rapidly
changing environment.
The multisector retailer, which owns consumer brands such as Ben
& Jerry's ice cream and Dove soap, posted a net profit of 5.58
billion euros ($7.61 billion) compared with EUR5.63 billion for
2019.
Net profit was expected to rise to EUR7.01 billion, according to
the company's compilation of consensus.
Turnover fell to EUR50.72 billion from EUR51.98 billion for the
year-earlier period, mainly driven by a 5.4% hit linked to currency
related items, it said.
The company's underlying sales rose 1.9% in 2020, and increased
3.5% in the fourth quarter. Unilever has a long-term target of
annual underlying sales growth of between 3% and 5%, as well as
profit increasing ahead of sales growth.
The FTSE 100 listed company said its performance had been
volatile since the outbreak of the coronavirus pandemic, and that
it continued to witness changes in consumer behavior and channel
dynamics in the fourth quarter.
Unilever said its ecommerce performance grew by 61% in 2020 as
it captured demand in online channels, and now represents 9% of the
company's overall performance.
The board has declared a fourth-quarter dividend of EUR0.4268 a
share.
"We will deliver long term-value creation by continuing to
evolve our portfolio and driving earnings growth, a strong cash
flow and a growing dividend," the company said.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
February 04, 2021 03:28 ET (08:28 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Grafico Azioni Unilever (EU:UNA)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni Unilever (EU:UNA)
Storico
Da Apr 2023 a Apr 2024