Unilever produced ‘broad-based growth’ in the third quarter of 2025, achieving underlying sales growth of 3.9% as it reconfirmed its full-year outlook ahead of the planned Ice Cream demerger.
The consumer goods giant reported turnover of €14.7 billion for Q3, down 3.5% year-on-year, primarily impacted by currency headwinds of 6.1% and net disposals of 1.0%.
Over the nine-month period, turnover reached €44.8 billion, down 3.3% from 2024.
Volume growth of 1.5% in the quarter is particularly encouraging. The group enjoyed continued strong demand across the portfolio, with the company’s Power Brands doing well with 4.4% underlying sales growth.
Beauty & Wellbeing led growth with underlying sales up 5.1% in Q3, generating €3.2 billion in turnover. Personal Care delivered solid performance with 4.1% underlying sales growth in the quarter, though faced currency challenges with turnover down 4.8% over nine months.
The soon-to-be spun-out ice Cream division achieved 3.7% underlying sales growth in Q3 (€2.3 billion), with a strong nine-month performance of 5.1%. The division’s demerger is expected to be completed in Q4 2025.
“Unilever delivered a solid third-quarter performance, with 4% sales growth in the period, landing the consumer goods company in the middle of its full-year target range,” said Aarin Chiekrie, equity analyst, Hargreaves Lansdown.
“That marks a small step up from the growth rates seen in the first half, helped by an improved performance in emerging markets and the continued strength of its Power Brands. These are a collection of 30 high-profile brands, including the likes of Dove, Domestos and Hellmann’s, and together contribute to around 75% of group sales.
“Unilever reported earlier in the week that its spin-off of its Ice Cream business, now known as The Magnum Ice Cream Company, has hit a speed bump in the form of the US Government shutdown.
“All preparation work is on track from Unilever’s side, but with federal employees temporarily laid off, there’s simply no one available to approve the paperwork. Unilever’s still confident of getting Magnum floated on the stock market before the end of 2025 and intends to provide investors with a revised timetable as soon as possible after the US government shutdown ends.”
Unilever shares were almost dead flat at the time of writing.