Report
Pierre Tegner

Unilever Nv : Disappointment on margins. A good level of organic growth in Q4

>A solid publication but likely to receive a mixed reception - The discount of close to 4 points on PER vs core holdings in Food HPC (Europe and the US) as well as the steady improvement in the operating performance helps to underpin the potential for a re-rating and an outperformance by the stock.With underlying diluted EPS broadly in line with forecasts, the market’s perception is likely to be split between the good level of organic growth and the disappointmen...
Underlying
Unilever PLC

Unilever is a consumer goods manufacturing group based in the United Kingdom. Co. is engaged in supplying consumer goods in the refreshments, foods, home and personal product categories. Co. supplies its consumers product for nutrition, hygiene and personal care and is active in emerging markets in Asia, Africa, Central & Eastern Europe and Latin America. Co.'s portfolio includes such well-known brands as Knorr, Lipton, Hellmann's, Magnum, Omo, Dove, Lux and Axe/Lynx. Co. manages its brands under the following four category headings: savoury, dressings and spreads; ice cream and beverages; personal care; and home care. 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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