The company’s underlying operating margin was up 20.3%, while the underlying operating profit reached €5.2 billion, which was up 0.9% on the year.
Underlying sales growth (USG) in the first half was 4.8%, and the food category was reported to have 1.2% USG with 1.2% volume and flat price. According to Unilever, its growth in the food category was led by emerging markets, while developed markets declined, reflecting a “softer market environment”.
Total turnover for food in the first half of 2026 was €6.3 billion, with €3.1 billion of this achieved during the second quarter of 2026. Foods growth is expected to accelerate in the second half of the year, said Unilever, led by innovation and improved developed market performance.
Looking at Unilever’s agreement to combine its foods business with ingredients brand McCormick, the businesses said the separation and integration work is “progressing well”, while McCormick announced the planned operating model and executive team of the combined company. The businesses expect completion by mid-2027, subject to McCormick shareholder approval, receipt of required regulatory approvals and the satisfaction of other customary closing conditions.
Fernando Fernandez, CEO of Unilever, commented: “We have delivered a strong volume-led performance in the first half, with a significant step-up in the second quarter – the best volume quarter at Unilever in over a decade. Our power brands continued to outperform, with all business groups delivering volume-led growth. Emerging markets showed momentum – India, Indonesia and Latin America all delivered strong growth – while North America again outperformed its market.
“These results show our ability to continue performing while transforming our portfolio. Our brands are stronger, our execution is sharper and we are driving desire at scale. Our combination of foods with McCormick is progressing well and will unlock significant value, making Unilever a focused pureplay HPC company, while giving foods the platform to thrive as part of a global powerhouse in flavour. The macroeconomic environment remains uncertain, but our consistency, discipline and strong first half performance give us confidence that we are well positioned to deliver our upgraded full year outlook.”
