April 23, 2020 / 4:27 PM / a month ago

BRIEF-Unilever CEO says things going to get worse in Q2 before getting better

April 23 (Reuters) - Unilever:

* CFO ON MEDIA CALL - IMPACT OF OUT OF HOME CONSUMPTION RESTRCITIONS WILL BE SIGNIFICANT IN Q2

* CFO ON MEDIA CALL - AT THE MOMENT, 50% OF OUR 2 BILLION EURO OUT OF HOME ICE CREAM BUSINESS IS NOT AVAILABLE TO US

* CFO ON MEDIA CALL - “WE ARE BACK TO WINNING MARKET SHARE IN ICE CREAM AND HAIR CARE IN NORTH AMERICA” THIS QUARTER

* CFO - WE ARE SEEING LESS PROMOTIONAL INTENSITY IN UK SUPERMARKETS

* CFO - THERE WILL BE A LOT MORE VARIETY IN THE WAY MARKETS ARE PERFORMING ONCE CORONAVIRUS CRISIS ENDS

* CFO -EMERGING MARKETS RESULTS IN Q1 PRINCIPALLY AFFECTED BY IMPACT OF LOCKDOWN IN INDIA IN LAST WEEK OF MARCH, FOOD SERVICE IN CHINA

* CEO ON ANALYST CALL -“AS OF TODAY, WE’RE RUNNING AT AN AVERAGE OF AROUND 85% OF NORMAL OUTPUT ACROSS OUR 221 SITES”

* CEO - “OVER THE LAST 2 MONTHS, WE HAVE OPENED UP MORE THAN 30 NEW PRODUCTION LINES, INCLUDING MANY THIRD PARTIES, TO MAKE HAND SANITIZERS”

* CEO - Q1 E-COMMERCE GROCERY SALES HAVE ROCKETED; IN U.S., E-COMMERCE SALES DOUBLED IN Q1 AND AS TOTAL COMPANY, THEY INCREASED BY 36%

* CFO- IN CHINA, E-COMMERCE GREW BY 34% IN THE QUARTER, BUT THE OFF-LINE BUSINESS WAS IN DOUBLE-DIGIT DECLINE

* CFO- THERE WAS LIMITED IMPACT FROM COVID-19 IN THE QUARTER IN AFRICA

* CEO- “IN Q2, THINGS ARE GOING TO GET MORE DIFFICULT BEFORE THEY GET EASIER”

* CEO- “IN CHINA...WE’RE STARTING TO SEE A SIGNIFICANT RECOVERY. WE’VE COME OUT OF THE SITUATION IN CHINA COMPETITIVELY ADVANTAGED”

* CEO- “WE’VE HAD A FEW 100 PEOPLE TEST POSITIVE , BUT IT COULD BE MORE THAN THAT BECAUSE OF LACK OF TESTING KITS” Further company coverage:

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