Alan Jope, CEO of Unilever, disputes claims that the corporation has benefited from inflation and asserts that it is conscious of consumers' financial difficulties.
In the last quarter, Unilever raised prices by an average of over 11%.
In 2022, Unilever's operating margin decreased from 18.4% in 2021 to 16.1%, but it didn't disclose the profitability numbers.
- Sales volumes for the multinational FMCG company were flat year over year and rebounded more quickly than anticipated from a 3.6% decline in the prior quarter.
- The report also stated shoppers, particularly in North America, were willing to tolerate the price increases in Q1.
- In the first quarter of 2023, Unilever reported revenues of $16.3B, an underlying rise of 10.5%; furthermore, it forecasted that commodity costs would increase by $1.6B.
From July 2023, Hein Schumacher will take over as the new CEO, replacing Alan Jope.
