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Asia/AMET/RUB
The Americas
Europe
40%
33%
27%
Asia/AMET/RUB
The Americas
Europe
37%
38%
25%
TURNOVER BY GEOGRAPHICAL AREA OPERATING PROFIT BY GEOGRAPHICAL AREA
Growth of our markets has slowed in emerging markets as a result of economic uncertainty and currency depreciation on consumer
demand. Developed markets remained weak with little sign of any overall improvement.
UNILEVER ROUP
Turnover
 mllon
2013
US
%
2013
UV
%
2013
Turnover
€ million
2012
USG
%
2012
UVG
%
2012
Turnover
€ million
2011
USG
%
2011
UVG
%
2011
Unlever Total 49,797 43 25 51,324 6.9 3.4 46,467 6.5 1.6
Emerging markets 28,257 87 48 28,331 11.4 5.7 24,997 11.5 4.4
Developed markets 21,540 (13) (05) 22,993 1.6 0.8 21,470 0.8 (1.6)
KEY DEVELOPMENTS
• Underlying sales grew 4.6%, with pricing contributing 3.5% and
volumes up 1%. Latin America grew 10.7%, including strong
performances in Brazil and Argentina. North America declined
1.5% in weak markets with lower volumes in spreads and ice
cream more than offsetting growth in Personal Care.
• Core operating margin was up 0.1 percentage points with
increased gross margins partly offset by higher advertising and
promotions and overheads.
EUROPE
2013 2012
(Restated)
%
Change
Turnover (€ million) 13,506 13,879 (2.7)
Operating profit (€ million) 1,893 1,908 (0.8)
Core operating profit (€ million) 2,019 1,964 2.8
Core operating margin (%) 149 14.2 0.7
Underlying sales growth (%) (11) 0.8
Underlying volume growth (%) 04 0.9
Effect of price changes (%) (15) (0.1)
KEY DEVELOPMENTS
• Underlying sales declined by 1.1%, with price down by 1.5% and
volumes up by 0.4%. Sales grew modestly in the UK for the sixth
year in a row, and were stable in France. Southern European
markets such as Italy, Spain and Greece continued to suffer from
depressed economies and weak consumer demand.
• Core operating margin was up 0.7 percentage points driven by
higher gross margin and lower overheads which mainly reflect the
results of restructuring activities.
ASIA /AMET/RUB
2013 2012
(Restated)
%
Change
Turnover (€ million) 20,085 20,357 (1.3)
Operating profit (€ million) 2,765 2,637 4.9
Core operating profit (€ million) 2,680 2,667 0.5
Core operating margin (%) 133 13.1 0.2
Underlying sales growth (%) 78 10.6
Underlying volume growth (%) 50 5.7
Effect of price changes (%) 26 4.6
KEY DEVELOPMENTS
• Underlying sales grew 7.8%, mainly from higher volumes.
Innovation and the roll-out of our brands into new markets
supported the growth momentum which included another year of
double-digit growth in our three biggest markets in the region:
India, Indonesia and China. There was strong growth in Vietnam,
but growth in Thailand slowed and sales declined slightly in Japan.
• Core operating margin was up 0.2 percentage points driven by a
significant improvement in gross margin partly offset by higher
advertising and promotions. Overheads movement was negatively
impacted by the one-off benefit from property sales in 2012.
THE AMERIAS
2013 2012
(Restated)
%
Change
Turnover (€ million) 16,206 17,088 (5.2)
Operating profit (€ million) 2,859 2,432 17.6
Core operating profit (€ million) 2,317 2,419 (4.2)
Core operating margin (%) 143 14.2 0.1
Underlying sales growth (%) 46 7.9
Underlying volume growth (%) 10 3.1
Effect of price changes (%) 35 4.8
28 Unlever Annual Report and Accounts 2013Strategc report
FINANCIAL REVIEW 2013
CONTINUED