中国烧烤烤肉产业新里程：联合利华饮食策划与花 椒餐服集团达成深度合作 2025年3月24日,《联合利华饮食策划总冠名2025中国烧烤烤肉大会签约发布会》在辽宁沈阳隆重举办,吸 引众多产业领导、嘉宾及媒体的广泛关注。 中国烧烤烤肉大会由花椒餐服集团主办,大会始终聚焦烧烤烤肉赛道,通过链接烧烤烤肉上下游产业,凝聚 行业力量,促进行业交流,旨在构建良性循环的行业生态系统。自2018年起,已经成功举办四届大会,已然成 为立足东北、辐射全国的垂直盛会,更是业内公认的权威的产业交流与合作平台。花椒餐服集团基于与 联合利华饮食策划对烧烤烤肉市场的深刻理解和共同愿景,促成本次高度契合的联袂合作。 签约发布会上,双方领导的致辞让现场嘉宾对合作充满期待。花椒餐服集团创始人滕飞先生表示,此次合 作将为烧烤烤肉行业注入蓬勃活力和发展机遇,并进一步促进全产业链路搭建。 联合利华饮食策划北区销售策略与运营负责人曹站立先生则强调,联合利华饮食策划提供餐饮解决方案 侧的专业力及创新力,凭借其在调味品领域的实战优势和对行业的前沿理解,通过菜式研发和数字化工具, 为餐饮从业者提供全方位支持。相信在双方强强联合下,必将共同打造更具影响力的行业盛会 ...

Ben & Jerry's accused its parent company, Unilever, of ousting its CEO, court documents show.Ben & Jerry's suit against Unilever, which is ongoing, accused it in a new filing of silencing activism.Attorneys for Ben & Jerry's said activism is integral to its brand, attracting customers.Ice cream brand Ben & Jerry's accused its parent company Unilever of ousting its chief executive, according to new court filings. The removal of CEO David Stever came after disagreements over the ice cream brand's commitment ...

Ben and Jerry's claims its chief executive has been sacked amid a longstanding row with its UK parent firm over the ice cream maker's political activism.Court documents allege David Stever was being removed from his post by Unilever because he was too outspoken on social issues. Last month the ice cream company, which had launched a flavour in support of Democrat presidential candidate Kamala Harris, accused Unilever of demanding it stop any public criticism of Donald Trump.Money latest: 'I've created somet ...

Financial Performance - In 2024, Unilever experienced negative net material inflation of €(0.4) billion due to decreased commodity prices towards the end of 2023 and into the first half of 2024[1433]. - Dividends declared for 2024 were £1.48 per share, consistent with the previous year, while dividends paid were £1.47 per share[1429]. - In 2024, sales in Iran accounted for significantly less than 0.5% of Unilever's worldwide turnover, with gross revenues of approximately €2,842,776 and net profits of less than €1,168,954[1448]. - Audit fees for 2024 amounted to €32 million, an increase from €23 million in both 2023 and 2022[1513]. - There have been no material defaults in the payment of principal or interest related to the Group's indebtedness[1498]. Shareholder Engagement - Approximately 40% of Unilever's ordinary shares were held in the United States in 2024, indicating a strong presence in the US market[1424]. - The company announced a share buyback program of up to €1.5 billion on 8 February 2024, completing the program on 5 November 2024, with a total of 27,368,909 shares repurchased at an average price of €54.8 per share[1509]. - Under the first tranche of the buyback, 13,437,701 shares were purchased for an aggregate market value of €700,101,906, while the second tranche involved 13,931,208 shares for €799,897,969[1510]. - PLC received $5,084,322 from Deutsche Bank for processing cash distributions and other reimbursements in relation to the ADS program for fiscal year 2024[1497]. - Any unclaimed dividends after 12 years revert to PLC, and unclaimed amounts may be invested for the benefit of PLC[1505]. Innovation and Research - The company invested approximately €900 million in R&D each year for the last three years, focusing on innovations and sustainable practices[1438]. - Unilever holds over 20,000 patents, with significant advancements in microbiome research leading to new product innovations[1440]. - Unilever's innovation strategy includes the use of digital and automated technology to enhance product development efficiency[1439]. Sustainability Initiatives - The company is committed to sustainability goals, focusing on renewable materials and reducing plastic pollution[1441]. - The company’s sustainability strategy includes 15 external goals across four priority areas: Climate, Nature, Plastics, and Livelihoods[1538]. - Unilever aims for a 100% reduction in Scope 1 and 2 GHG emissions by 2030, using a 2015 baseline[1609]. - The company targets a 42.0% reduction in Scope 3 energy and industrial GHG emissions by 2030, against a 2021 baseline[1610]. - Unilever's Climate Transition Action Plan (CTAP) outlines 2030 climate targets and aims for net zero GHG emissions by 2039[1608]. Cyber Security - Unilever's Cyber Security Risk Management Framework is aligned with industry standards, promoting a culture of cyber security awareness across the organization[1453]. - No known cyber security incidents materially affected Unilever during the year ended December 31, 2024[1455]. - The Chief Financial Officer (CFO) oversees cyber security risk management, supported by a dedicated team and regular briefings to the executive leadership team[1452]. - The Information Protection Council (IPC) actively reviews and prioritizes cyber security risk management initiatives across the enterprise[1459]. - Unilever's cyber security policies are subject to periodic review and modifications based on changes in risk, ensuring continuous improvement in resilience posture[1466]. Operational Footprint - The average number of employees in 2024 included 129 seasonal workers, reflecting a stable relationship with labor unions[1414]. - Unilever operates over 250 factories globally and employs over 120,000 employees[1553]. - The Group currently has no plans to construct or materially expand existing facilities, indicating a stable operational footprint[1450]. - Unilever's properties are predominantly used for production and distribution activities, with no individual property being materially significant to the Group as a whole[1449]. Risk Management - The company has established processes to manage risks related to the integrity of sustainability information disclosed[1552]. - Water withdrawal from operations and upstream value chain could lead to water shortages, particularly in high water stress areas[1592]. - The risk of biodiversity loss could escalate into shock events affecting commodities and financial markets[1593]. - Hazardous waste from product manufacturing and disposal may lead to environmental contamination and public health issues[1594]. - Compliance with Extended Producer Responsibility (EPR) schemes could lead to higher expenses for waste management and packaging redesign[1594].

Core Insights - Unilever's stock has recently declined due to a Q4 earnings miss and the unexpected departure of its CEO, which surprised analysts [1]. Company Summary - Unilever (UL) is facing challenges as its stock price has dipped following disappointing earnings results for Q4 [1]. - The sudden resignation of the CEO has added to the uncertainty surrounding the company, impacting investor sentiment [1].

Core Viewpoint - Unilever's CEO Hein Schumacher is stepping down after less than two years, with CFO Fernando Fernandez set to replace him, effective March 1, 2024 [1][2] Group 1: Leadership Changes - Hein Schumacher will leave his position as CEO and board director in March 2024, with his departure being by mutual agreement [1] - Fernando Fernandez will assume the role of CEO, while Srinivas Phatak will take over as interim CFO [4] Group 2: Company Performance and Outlook - Unilever's 2025 outlook and medium-term guidance remain unchanged following the leadership announcement [2] - The company has shown solid financial progress during 2024, with a focus on resetting its strategy under Schumacher's leadership [2][3] - Unilever's performance over the past 18 months has been strong, marked by greater focus and disciplined execution [5] Group 3: Market Reaction - Following the announcement, Unilever's shares fell approximately 1.6% by midday in London [2] - The decision to change leadership was described as unexpected, especially given the company's recent outperformance compared to peers in the consumer goods sector [4][5]

Core Insights - The individual has a strong interest in financial markets, particularly in fundamental analysis, which evaluates a company's actual results rather than price movements [1] - The focus is primarily on long-term investments in stocks and ETFs, with a preference for US companies, while also analyzing European and Chinese firms [1] - The banking sector is highlighted as a key area of interest, as it is essential for understanding the overall health of an economy [1] Investment Approach - The investment strategy is characterized by a contrarian view, indicating a willingness to go against prevailing market trends [1] - The individual emphasizes the importance of macroeconomics in investment decisions, suggesting a holistic approach to market analysis [1]

Core Insights - Unilever reported mixed Q4 2024 results, with underlying EPS exceeding expectations but revenue falling short due to foreign currency headwinds [2][3] - The company plans to spin off its ice cream business by the end of 2025, which includes brands like Ben and Jerry's and Magnum [3] Financial Performance - Underlying EPS for Q4 2024 was 2.98 pounds, slightly above the analyst estimate of 2.965 pounds, reflecting a 14.7% increase from 2.60 pounds in Q4 2023 [4] - Q4 revenue was 14.2 billion pounds, missing the anticipated 15 billion pounds, marking a slight decline of 0.1% year-over-year [4] - Operating margin improved to 18.4%, up 1.7 percentage points from 16.7% in Q4 2023 [4] - Free cash flow decreased to 6.9 billion pounds, down 2.8% from 7.1 billion pounds in Q4 2023 [4] Business Overview - Unilever operates in various segments including Beauty & Wellbeing, Personal Care, Home Care, Nutrition, and Ice Cream, with a strong brand portfolio [5] - The company focuses on brand management and innovation to enhance market positioning and long-term success [5] Strategic Focus - Recent efforts have been directed towards enhancing operational efficiencies and driving growth through Power Brands, with a focus on fewer, larger innovations [6] - The Beauty & Wellbeing segment saw a 6.5% increase in underlying sales, driven by premiumization and international expansion [7] - The Personal Care segment experienced a 5.2% increase due to innovations in deodorants [7] Growth and Challenges - Home Care sector revenue rose by 2.9% despite price pressures from commodity deflation [8] - Ice Cream segment grew by 3.7%, supported by strategies aimed at its future independence [8] - Regional challenges were noted in Indonesia and China, where sales declines necessitate adaptive pricing and market strategies [10] Future Outlook - For fiscal year 2025, Unilever projects sales growth of 3% to 5%, supported by investments in brand strength and operational efficiencies [11] - The company aims for volume-led growth and plans to capitalize on innovative product extensions to capture emerging market trends [12] - Ongoing strategic acquisitions and a focus on sustainability initiatives are part of the strategy to maintain competitiveness in the consumer landscape [12]

Financial Performance - Underlying sales growth (USG) for 2024 was 4.2%, driven by a volume increase of 2.9% and price growth of 1.3%[16] - Total turnover for 2024 reached €60.8 billion, reflecting a 1.9% increase year-over-year, despite a (0.7)% impact from currency and (1.5)% from net disposals[25] - Underlying operating profit rose to €11.2 billion, marking a 12.6% increase, while the underlying operating margin improved by 170 basis points to 18.4%[24] - Free cash flow for 2024 was €6.9 billion, with a cash conversion rate of 106%[25] - Full year turnover for Unilever was €60.8 billion, with underlying sales growth (USG) of 4.2% and a turnover of €14.2 billion for Q4 2024[41] - Beauty & Wellbeing segment achieved a full year turnover of €13.2 billion, with USG of 6.5% driven by volume growth of 5.1% and price growth of 1.3%[42] - Personal Care segment reported a full year turnover of €13.6 billion, with USG of 5.2% and volume growth of 3.1%[49] - Home Care segment turnover was €12.3 billion, with USG of 2.9% and volume growth of 4.0%[55] - Foods segment turnover reached €13.4 billion, with USG of 2.6% driven by price growth of 2.4%[61] - Underlying earnings per share increased by 14.7% to €2.98, with constant underlying earnings per share up by 15.4%[88] - Net profit fell by 10.8% to €6,369 million in 2024, compared to €7,140 million in 2023[133] - Basic earnings per share decreased by 10.6% to €2.30 in 2024, down from €2.58 in 2023[134] Future Outlook - The company anticipates underlying sales growth for 2025 to be within the range of 3% to 5%, with a slower start expected due to subdued market growth[13] - The company expects a modest improvement in underlying operating margin for 2025 compared to 18.4% in 2024, with benefits anticipated in the second half of the year[14] - The company plans to separate its Ice Cream business by the end of 2025, aiming to create a world-leading entity with five of the top 10 global ice cream brands[67] Shareholder Returns - In 2024, the company returned €5.8 billion to shareholders through dividends and share buybacks, with a quarterly interim dividend for Q4 raised to €0.4528, up 6.1% compared to Q4 2023[36] - The company completed a €1.5 billion share buyback program in November and announced a new share buyback of up to €1.5 billion to be completed in the first half of 2025[37] - A new share buyback program with a market value of up to €1.5 billion is set to commence on February 13, 2025[94] Cost Management and Productivity - A productivity program was launched targeting €800 million in savings, with 4,300 full-time equivalent roles reduced by the end of 2024[30] - Restructuring costs in 2024 reached €(850) million, compared to €(499) million in 2023, as part of a company-wide productivity program affecting approximately 7,500 jobs[111] Market Performance - The Americas region reported a 5.5% underlying sales growth, with North America achieving 5.3% growth driven by strong performance in Beauty & Wellbeing[80][81] - Emerging markets generated €35.3 billion in turnover with a 4.1% underlying sales growth, while developed markets saw a 4.4% growth[75] Acquisitions and Investments - The company acquired K18, a premium biotech hair care brand, which will contribute to underlying sales growth starting February 2025[46] - Brand and marketing investment increased by 120 basis points to 15.5% of turnover, the highest level in over a decade[25] Financial Position - Net debt increased by €0.9 billion to €24.5 billion, with a net debt to underlying EBITDA ratio of 1.9x[91] - Total assets increased to €79,750 million in 2024, up 5.3% from €75,266 million in 2023[143] - Total liabilities rose to €57,195 million, an increase of 5.0% compared to €54,502 million in 2023[143] - Shareholders' equity increased to €19,990 million, up 10.4% from €18,102 million in 2023[143] Tax and Impairments - The effective tax rate for 2024 was 29.0%, up from 24.1% in 2023[113] - The company recorded an impairment charge of €127 million related to Blueair in 2024[112]

Financial Data and Key Metrics Changes - Underlying sales growth for the full year was 4.2%, driven by volume growth of 2.9% and price contribution of 1.3% [19][51] - Gross margin increased by 280 basis points to 45%, exceeding pre-COVID levels in all Business Groups except Ice Cream [16][53] - Underlying operating profit grew by 12.6% to €11.2 billion, with underlying operating margin improving by 170 basis points to 18.4% [17][57] - Underlying earnings per share were €2.98, up 14.7% [57] Business Line Data and Key Metrics Changes - Beauty & Wellbeing achieved underlying sales growth of 6.5%, with volume at 5.1% and price at 1.3% [21][116] - Personal Care had underlying sales growth of 5.2%, with volume at 3.1% and price at 2.1% [27][121] - Home Care delivered underlying sales growth of 2.9%, driven by a 4.0% increase in volume [31] - Foods grew by 2.6%, with 2.4% from price and 0.2% from volume [35] - Ice Cream saw underlying sales growth of 3.7%, with volume growth at 1.6% and price at 2.1% [39] Market Data and Key Metrics Changes - Developed markets grew underlying sales by 4.4%, with volumes up 3.3% [43] - Latin America grew by 6.0%, with positive volume growth across Brazil, Mexico, and Argentina [44] - Asia Pacific Africa had underlying sales growth of 3.1%, with India growing at 1.8% [45][46] - China experienced a mid-single digit decline, while Indonesia saw an 8.7% decline [46] Company Strategy and Development Direction - The company is focused on the Growth Action Plan (GAP) 2030, aiming for superior brand performance and market-making [79][80] - A significant portfolio shift is underway with the separation of the Ice Cream business expected by the end of 2025 [10][91] - The company is committed to sustainability, focusing on climate, nature, plastics, and livelihoods [83][84] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the need for consistent performance and highlighted the importance of the GAP in achieving this [18][95] - The company expects underlying sales growth for 2025 to be within the range of 3% to 5% [72] - Anticipated market growth is expected to improve during the year as prices increase due to higher commodity costs [73] Other Important Information - The company returned €5.8 billion in capital to shareholders through dividends and buybacks [10][68] - A new share buyback program of up to €1.5 billion was announced, set to commence immediately [76] Q&A Session Summary Question: What are the expectations for underlying sales growth in 2025? - The company expects underlying sales growth for full year 2025 to be within the multi-year range of 3% to 5% [72] Question: How is the company addressing challenges in key markets like China and Indonesia? - The company is taking decisive actions to strengthen its business in China and correcting misaligned investments in Indonesia [46][50]