The company reported an increase in its underlying operating margin, which reached 20.3%. The underlying operating profit hit €5.2 billion, reflecting a year-on-year rise of 0.9%.
In the first half of the year, underlying sales growth (USG) was recorded at 4.8%. The food category experienced a USG of 1.2%, with volumes also seeing a rise of 1.2% while prices remained stable. Unilever noted that growth in its food division was primarily driven by emerging markets, whereas developed markets faced a downturn due to a “softer market environment.”
During the initial six months of 2026, the total food turnover amounted to €6.3 billion, with €3.1 billion generated in the second quarter alone. Unilever anticipates that food growth will gain momentum in the latter half of the year, driven by innovation and enhanced performance in developed markets.
In relation to Unilever’s merger of its foods division with McCormick, both companies reported that the separation and integration processes are “progressing well.” McCormick has revealed the intended operating structure and executive leadership for the merged entity, with completion expected by mid-2027, contingent upon McCormick shareholder approval, necessary regulatory authorisations, and fulfilment of typical closing stipulations.
Fernando Fernandez, Unilever’s CEO, stated: “We have delivered a strong volume-led performance in the first half, with a significant step-up in the second quarter – the best volume quarter at Unilever in over a decade. Our power brands continued to outperform, with all business groups delivering volume-led growth. Emerging markets showed momentum – India, Indonesia and Latin America all delivered strong growth – while North America again outperformed its market.”
Fernandez further emphasised, “These results show our ability to continue performing while transforming our portfolio. Our brands are stronger, our execution is sharper and we are driving desire at scale. Our combination of foods with McCormick is progressing well and will unlock significant value, making Unilever a focused pureplay HPC company while giving foods the platform to thrive as part of a global powerhouse in flavour. The macroeconomic environment remains uncertain, but our consistency, discipline and strong first half performance give us confidence that we are well positioned to deliver our upgraded full year outlook.”
