Report
Pierre Tegner

Unilever Nv : H1 should mark an inflection on the stock: a very welcome surprise on organic growth (-0.1%) and an improvement in the margin (+60bp)

>Counter-intuitive: a positive reaction anticipated - Against all expectations, H1 results came as a real surprise in terms of organic growth and the operating margin. Unilever is one of the underperformers of the crisis in the staples sector since it was rapidly identified as the group that faced the most headwinds (contract catering in ice creams and food, Prestige Beauty two-thirds exposed to specialised distribution, India/Brazil, overweighting in washing powders ...
Underlying
Unilever NV

Unilever is engaged in the supply of consumer goods in foods, household care and personal products. Co.'s activities are carried out through four categories: Personal Care, sales of skin care and hair care products, deodorants and oral care products; Home Care, sales of home care products, such as powders, liquids and capsules, soap bars and a range of cleaning products; Foods, sales of soups, bouillons, sauces, snacks, mayonnaise, salad dressings, margarines and spreads; and Refreshment, sales of ice cream and tea-based beverages. Co.'s products are sold in over 190 countries around the world.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Pierre Tegner

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