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v3.26.1

Consolidated cash flow statement - EUR (€) € in Millions | 6 Months Ended
--- | ---
Jun. 30, 2026 | Jun. 30, 2025 | [1]
Cash flows used in operating activities [abstract] |  |  |  |
Net profit from continuing operations |  | € 3,291 | € 3,411 | [2]
Taxation |  | 1,368 | 1,164 |
Share of net profit of joint ventures/associates and other (income)/loss from non-current investments and associates |  | (161) | (115) |
Net monetary loss arising from hyperinflationary economies |  | 85 | 25 | [2]
Net finance costs |  | 302 | 277 |
Operating profit from continuing operations |  | 4,885 | 4,762 | [2]
Depreciation, amortisation and impairment |  | 632 | 646 |
Changes in working capital |  | (1,231) | (2,427) |
Inventories |  | (414) | (632) |
Trade and other receivables | [3] | (2,547) | (1,366) |
Trade payables and other liabilities | [3] | 1,730 | (429) |
Pensions and similar obligations less payments |  | 58 | 43 |
Provisions less payments |  | (100) | (84) |
Elimination of loss/(profits) on disposals |  | (65) | (48) |
Non-cash charge for share-based compensation |  | 122 | 142 |
Other adjustments |  | 46 | 113 |
Cash flow from continuing operating activities |  | 4,347 | 3,147 |
Income tax paid on continuing operations |  | (1,770) | (1,128) |
Net cash flow from continuing operating activities |  | 2,577 | 2,019 |
Cash flow from operations attributable to discontinued operations |  | (3) | 382 |
Income tax paid from discontinued operation |  | 0 | (114) |
Net cash flow from discontinued operating activities |  | (3) | 268 |
Total cash flows from operating activities |  | 2,574 | 2,287 |
Cash flows used in investing activities [abstract] |  |  |  |
Interest received |  | 159 | 159 |
Purchase of intangible assets |  | (79) | (48) |
Purchase of property, plant and equipment |  | (532) | (531) |
Disposal of property, plant and equipment |  | 12 | 99 |
Acquisition of businesses and investments in joint ventures and associates |  | (867) | (458) |
Disposal of businesses, joint ventures and associates |  | 206 | 73 |
Acquisition of other non-current investments |  | (31) | (64) |
Disposal of other non-current investments |  | 37 | 55 |
Dividends from joint ventures, associates and other non-current investments |  | 112 | 118 |
Sale/(purchase) of financial assets |  | (57) | 70 |
Net cash flow used in continuing investing activities |  | (1,040) | (527) |
Net cash investing cash flows attributable to discontinued operations |  | 372 | (121) |
Total net cash (outflow)/inflow from investing activities |  | (668) | (648) |
Cash flows used in financing activities [abstract] |  |  |  |
Dividends paid on ordinary share capital |  | (2,033) | (2,234) |
Interest paid |  | (588) | (614) |
Net change in short-term borrowings |  | 3,766 | 2,406 |
Additional financial liabilities |  | 76 | 1,872 |
Repayment of financial liabilities |  | (563) | (2,205) |
Capital element of lease rental payments |  | (198) | (150) |
Repurchase of shares |  | (1,507) | (1,510) |
Other financing activities | [4] | (139) | (610) |
Net cash flow used in continuing financing activities |  | (1,186) | (3,045) |
Net cash flow from discontinued financing activities |  | 3 | 104 |
Total net cash flow used in financing activities |  | (1,183) | (2,941) |
Net increase/(decrease) in cash and cash equivalents |  | 723 | (1,302) |
Cash and cash equivalents at the beginning of the period |  | 3,870 | 5,950 |
Effect of foreign exchange rate changes |  | 78 | (380) |
Cash and cash equivalents at the end of the period |  | € 4,671 | € 4,268 |
[1] | 2025 comparatives ha ve been re-presented to reflect the demerger of the Ice Cream Business Group.
[2] | 2025 comparatives have been re-presented to reflect the demerger of the Ice Cream Business Group.
[3] | Net working capital includes the gross‑up impact in receivables and payables arising due to the transitional service arrangement between Unilever and The Magnum Ice Cream Company.
[4] | Comprises of minority dividend payment, and payments made relating to step up acquisitions.

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- Definition The cash inflow from sales of long-term assets that the entity does not separately disclose in the same statement or note, classified as investing activities. [Refer: Assets] + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Name IAS -Number 7 -IssueDate 2025-01-01 -Paragraph 16 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2025-en-r&anchor=para_16_b&doctype=Standard -URIDate 2025-03-27 + Details
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- Definition The cash inflow from sales of property, plant and equipment, classified as investing activities. [Refer: Property, plant and equipment] + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Name IAS -Number 7 -IssueDate 2025-01-01 -Paragraph 16 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2025-en-r&anchor=para_16_b&doctype=Standard -URIDate 2025-03-27 + Details
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- Definition The profit (loss) from continuing operations. [Refer: Continuing operations, unless line item indicates otherwise [member]; Profit (loss)] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2025-01-01 -Paragraph 28 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2025-en-r&anchor=para_28_b&doctype=Standard -URIDate 2025-03-27 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 12 -IssueDate 2025-01-01 -Paragraph B12 -Subparagraph b -Clause vi -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2025-en-r&anchor=para_B12_b_vi&doctype=Appendix&subtype=B -URIDate 2025-03-27 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2025-01-01 -Paragraph 23 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2025-en-r&anchor=para_23&doctype=Standard -URIDate 2025-03-27 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Note Expiry date 2027-01-01 -Name IAS -Number 1 -IssueDate 2025-01-01 -Paragraph 81A -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2025-en-b&anchor=para_81A_a&doctype=Standard -URIDate 2025-03-27 + Details
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- Definition The cash outflow for the purchases of property, plant and equipment, classified as investing activities. [Refer: Property, plant and equipment] + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Name IAS -Number 7 -IssueDate 2025-01-01 -Paragraph 16 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2025-en-r&anchor=para_16_a&doctype=Standard -URIDate 2025-03-27 + Details
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