Unilever Nigeria Plc has published its first quarter result for the period ended March 31, 2025, showcasing a solid performance with earnings per share of N0.97, up from N0.58 in first quarter of  2024.

The company’s unaudited revenue grew by 45.4% year on year, driven by significant expansions in the Food Products, Personal Care, and Beauty & Wellbeing segments.

Highlights of the financial results shows that revenue surged by 45.4% year on year, due to volume growth from deeper market penetration and modest price increases to cushion rising input costs.

Analysis of the company market segments shows that the Food Products segment grew by 51.3% year on year, contributing 58.6% to total revenue, while Personal Care and Beauty & Wellbeing segments expanded by 29.6% and 76.4% year on year, respectively.

Market analyst’s noted that the performance highlights the resilience of Unilever Nigeria  operating model, driven by strategic market penetration and modest pricing.

While elevated input costs and tax charges could temper further bottom-line expansion, they expect a solid earnings trajectory for 2025.

Gross margin declined by 165 basis points year on year to 40.1%, pressured by a 49.5% rise in cost of sales, while EBITDA and EBIT margins expanded by 575 basis points and 571 basis points year on year to 19.3% and 17.6%, respectively.

Profit before tax jumped by 146.7% year-over-year to N10.75 billion, while profit after tax rose to N5.55 billion, despite a higher effective tax rate of 48.4%.