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Graeme Pitkethly
24th February 2017
Agenda for today:
2 Connected 4 Growth
Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to
differ materially from those expressed or implied by these forward-looking statements. Among other risks and uncertainties, the material or
principal factors which could cause actual results to differ materially are: Unilevers global brands not meeting consumer preferences;
Unilevers ability to innovate and remain competitive; Unilevers investment choices in its portfolio management; inability to find sustainable
solutions to support long-term growth; customer relationships; the recruitment and retention of talented employees; disruptions in our supply
chain; the cost of raw materials and commodities; the production of safe and high quality products; secure and reliable IT infrastructure;
successful execution of acquisitions, divestitures and business transformation projects; economic and political risks and natural disasters;
financial risks; failure to meet high and ethical standards; and managing regulatory, tax and legal matters.
These forward-looking statements speak only as of the date of this document. Except as required by any applicable law or regulation, the
Group expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements
contained herein to reflect any change in the Groups expectations with regard thereto or any change in events, conditions or circumstances
on which any such statement is based.
Further details of potential risks and uncertainties affecting the Group are described in the Groups filings with the London Stock Exchange,
Euronext Amsterdam and the US Securities and Exchange Commission, including in the Groups Annual Report on Form 20-F for the year
ended 31 December 2015 and the Annual Report and Accounts 2015.
A simple, long-term growth model
Consistent growth
Competitive growth
Profitable growth
Responsible growth
Making Unilever a stronger company
2009-2016*
Sustainable Living: more growth, lower costs, less risk, more trust
bn
Additional
Brand & Marketing Additional Acquisitions 10
Investment Capex (4)
Disposals, after tax
Subsidiaries 3
+12 bn +5 bn Leverhulme 1
cumulative cumulative
Total 10
T/O T/O
-3bn +4bn
1.9x TO 2.3x TO
multiple multiple
2009 2010 2011 2012 2013 2014 2015 2016 2009 2010 2011 2012 2013 2014 2015 2016
Foods Refreshment Personal Care Home Care
Strengthening the portfolio
More HPC Improving
business shape
% turnover
BCS cash profit
Foods 35% 24% +80m
19% Ice cream ROIC
Refresh 19%
19% +300bps
HC 18%
38% Home Care margins
28%
PC
+430bps
2008 2016
Brands
2.1%
>120 index 1.5%
(0.6%)
30%
2014 2015 2016
% 2016 turnover USG%
15%
9.7%
+130bps
15%
6.3% 7.6%
+300bps
2014 2015 2016
COM% 2013-2016
Delivering consistent, competitive growth
+4.3%
12
+4.1%
+2.9%
+3.7%
60% brands
7
turnover brands
Unilever
2013 2014 2015 2016 Nielsen market value share 2016 Nearest competitor
+50bps Constant
+30bps
+40bps +10%
+40bps
Current
-3.8%
4.8 4.8
-5.0%
-6.6%
220 +120%
170
120 Dividends
70 +70%
2009 2016
Unilever NV AEX Peer group index FTSE
1980 2016
2 Connected 4 Growth
Channels Media
Competitors
Connected 4 Growth
From: To:
Global category teams Global category teams
PC HC Foods Refresh
MALE
GROOMING
NATURALS
Evolving the portfolio: new consumer touch-points
40%
faster than the
rest
Investing well
Lowest
Ahead of Ahead of
Underlying Sales Growth market market
2017-2019 2017-2019
Underlying Aheadof
Ahead Below
Sales growth ofmarket
market 4%
+3-5%
Bottom
COM +40-60
+40-80 +40-60
end of
improvement bps p.a. bps p.a.
guidance
Agenda for today:
2 Connected 4 Growth
23.2x
21.9x
19.9x 19.1x
22 0
not factored in
20 -2
19 -3
18 -4
Unilever Peer average Unilever discount to peer average
2017 margin now expected to be at the upper end of the 40-80bps range