UNILEVER PLC

Operating profit of €9.0 billion increased by 2.4% versus the prior year.

This increase was driven by lower restructuring costs and reduced

losses on disposals compared to the previous year.

Underlying operating profit was €10.1 billion, down 1.1%, due to

an adverse currency movement that more than offset strong

operational delivery. Underlying operating margin increased by 60bps

to 20.0%.

Gross margin increased by 20bps to 46.9%, driven by supply chain

savings, volume leverage and positive mix. Strong execution across

the value chain sustained margins despite a volatile cost and currency

environment.

Brand and marketing investment (BMI) increased by 10bps to 16.1% of

turnover, as we continued to invest competitively behind our brands,

particularly in Beauty & Wellbeing and Personal Care. This reflects a

significant step-up in BMI over the last five years, up 300bps.

Overheads improved strongly by 50bps, driven by our productivity

programme. These savings more than offset inflationary pressures and

stranded costs related to the demerger of our Ice Cream business.