Unilever targets $1.12bn savings in shift towards home, personal care

Unilever plans to cut costs by 1,000 million euros by 2029, focusing on operational efficiencies in its food division. The company aims to maintain 4-6% annual sales growth and improve operating margins by 2027, while implementing a new operating model to streamline processes and enhance decision-making.

Unilever plans to save €1 billion ($1.12 billion) by 2029 through cost cuts and operational changes, focusing on home and personal care after splitting its food business. The company will restructure into six regional units and reaffirmed its sales growth targets. Shares were down 0.6% at 1617 GMT, following broader market declines.

Unilever (ULVR) plans to save €1 billion by 2029 through streamlining operations and addressing merger-related costs. The savings will come from organizational changes, process redesign, and technology initiatives. The company is focusing on beauty and wellness brands and key markets like India and the U.S. Unilever will report across three categories post-implementation: beauty & personal care, home care, and other. The company holds a capital markets day on Wednesday.

Unilever Nigeria reported 9M 2026 results with Foods revenue up 29.8% to N123.12B, driving 18.4% total sales growth to N184.01B. Pre-tax profit rose 21.8% to N45.58B. Personal Care sales fell 3.5% to N42.37B. Foods now accounts for 67% of operating profit. The company has strong cash position (N91.34B) to invest in growth.

Unilever reported Q3 underlying sales growth of 5.2%, with Personal Care up 6.3%, partly attributed to its FIFA sponsorship. The company's five-year FIFA partnership includes activations for 35+ brands across 120+ markets, with limited-edition products. Executives discussed the strategy behind leveraging the sponsorship for sustained growth.

Unilever reported a 7% revenue increase to €13.3B in Q3, driven by price hikes to offset higher commodity costs. The company raised its volume growth outlook and reaffirmed sales forecasts. Emerging markets, particularly India, contributed to sales growth. Unilever's spin-off of its food business to McCormick remains on track.