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Unilever announces 2nd Quarter Results 2013

LONDON and ROTTERDAM, THE NETHERLANDS--(Marketwired - Jul 25, 2013) -

2013 FIRST HALF YEAR RESULTS PROFITABLE GROWTH MOMENTUM SUSTAINED IN TOUGHER MARKETS First half highlights * Underlying sales growth 5.0% with emerging markets up 10.3% * Underlying volume growth 2.6% and pricing up 2.3% * Turnover up 0.4% at EUR25.5 billion with currency (3.2)% and disposals (1.1)% * Core operating margin up 40bps to 14.0% driven by gross margin up 120bps * Core earnings per share up 4% to EUR0.76; free cash flow of EUR1.3 billion * Hindustan Unilever stake increased to 67% Second quarter highlights * Underlying sales growth 5.0% with volume growth of 3.0% and price growth of 2.0% Paul Polman: Chief Executive Officer statement "This set of results clearly demonstrates that the transformation of Unilever to a sustainable growth company is fully on track. The strong Home Care and Personal Care performance is particularly pleasing given increased competitive pressure. The underlying performance of our Foods and Refreshment categories is starting to improve, with strong growth from the relaunched Lipton Yellow Label and the continuing success of Knorr jelly bouillons and baking bags. Innovation remains the key driver of growth with examples such as compressed deodorants, Vaseline Spray & Go and Magnum 5 kisses. And there is more to come: our innovation pipeline is robust which will be vital as we navigate the slowdown in many parts of the world. Our focus on gross margin is also starting to bear fruit: we are delivering more profitable innovations, improving mix and continuing to apply a rigorous approach to supply chain costs and savings. But there is no room for complacency: we are well aware that past success is no guarantee of future success. The tougher economic environment and reinvigorated competition require us to set the bar higher on innovation and to increase investment behind our brands. At the same time we need to continue to take costs out of the system to help finance this investment. The Unilever Sustainable Living Plan gives us a strong purpose-driven business model. Our emerging markets footprint and strong innovation pipeline gives us confidence that we will continue to grow competitively. We remain focused on achieving another year of profitable volume growth ahead of our markets, steady and sustainable core operating margin improvement and strong cash flow." Key Financials (unaudited) First Half 2013 Current Rates Underlying Sales Growth (*) 5.0% Turnover EUR25.5bn +0.4% Operating Profit EUR3.9bn +14% Net Profit EUR2.7bn +13% Core earnings per share (*) EUR0.76 +4% Diluted earnings per share EUR0.83 +14% Quarterly dividend payable in September 2013 EUR0.269 per share (*) Underlying sales growth and core earnings per share are non-GAAP measures (see pages 6 and 7).     25 July 2013 ENQUIRIES Media: Investors: Media Relations Team Investor Relations Team UK +44 20 7822 6719 +44 20 7822 6830 trevor.gorin@unilever.com investor.relations@unilever.com NL +31 10 2174844 flip.dotsch@unilever.com There will be a web cast of the results presentation available at: www.unilever.com/ourcompany/investorcentre/results/quarterlyresults/default.asp The web cast can also be viewed from the Unilever Investor Relations app which you can download from: https://itunes.apple.com/us/app/unilever-investor-centre-app/id483403509?mt=8&ign-mpt=uo%3D4 Click on, or paste the following link into your web browser, to view the associated PDF document. http://www.rns-pdf.londonstockexchange.com/rns/1005K_1-2013-7-24.pdf This information is provided by RNS The company news service from the London Stock Exchange END