SUSTAINED GROWTH MOMENTUM DRIVEN BY EMERGING MARKETS
Third quarter highlights
- Turnover increased by 10.3% to €13.4 billion with a positive impact of 4.1% from FX and 0.1% from M&A
- Underlying sales growth 5.9% with emerging markets up 12.1%
- Underlying volume growth 3.4% ahead of our markets; pricing up 2.4%
Nine months highlights
- Turnover increased by 11.1% to €38.8 billion with a positive impact of 2.6% from FX and 1.5% from M&A
- Underlying sales growth 6.6% with emerging markets up 11.7%
- Underlying volume growth 3.0% ahead of our markets; pricing up 3.5%
Paul Polman: Chief Executive Officer statement
"I am pleased that we have again reported good quality growth, with volumes ahead of our markets. This consistent performance, despite continued high levels of competitive intensity, depressed economies and increasing global imbalances and uncertainty, shows that the Unilever transformation is well on track and is being embedded deeply in the business.
The Compass strategy and the Unilever Sustainable Living Plan are driving aligned actions across the business. We are seeing a steady improvement in the quality of our innovation, meeting the needs of consumers wherever they are. The organisational structure that we announced last year is already paying off and we are seeing benefits in terms of our agility and discipline in operational execution.
I am particularly pleased with the progress that we have made in attracting and retaining the best talent. This is increasingly being recognised externally. For example we have won awards for diversity in China and Europe and we were recently ranked as the world's fifth most desirable company to work for in a survey by the Linkedin professional networking site. This is an area where we see that a socially responsible approach brings a tangible business benefit.
Looking forward, it is clear that the environment will remain challenging. Commodity cost inflation is high and remains volatile and there is no sign that the level of competition will ease. In this challenging environment there is no change to our objectives, which remain: profitable volume growth ahead of our markets, steady and sustainable core operating margin improvement and strong cash flow. For 2012 we remain on track to deliver a modest improvement in core operating margin"
