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Unilever 2020 FULL YEAR RESULTS Performance highlights ( unaudited ) Underlying performance vs 2019 GAAP measures vs 2019 Full Year Underlying sales growth ( USG ) 1.9 % Turnover € 50.7bn ( 2.4 ) % Underlying operating profit € 9.4bn ( 5.8 ) % Operating profit € 8.3bn ( 4.6 ) % Underlying operating margin 18.5 % ( 60 ) bps Operating margin 16.4 % ( 40 ) bps Underlying earnings per share € 2.48 ( 2.4 ) % Diluted earnings per share € 2.12 ( 0.9 ) % Free cash flow € 7.7bn € 1.5bn Net profit € 6.1bn 0.8 % Fourth Quarter USG 3.5 % Turnover € 12.1bn ( 4.2 ) % Quarterly dividend payable in March 2021 € 0.4268 per share * * See note 10 for more information on dividends . Full year highlights • • • • Underlying sales growth of 1.9 % , with 1.6 % volume and 0.3 % price Turnover decreased 2.4 % , primarily driven by a negative impact of 5.4 % from currency related items Underlying operating profit decreased 5.8 % , but increased by 0.7 % at constant exchange rates Underlying earnings per share decreased 2.4 % , but increased 4.1 % at constant exchange rates Diluted earnings per share of € 2.12 Free cash flow up € 1.5 billion to € 7.7 billion , reflecting our objective to protect cash • • Dividend maintained through the year and increased in the fourth quarter by 4 % to € 0.4268 per share Unified the group legal structure under a single parent company Alan Jope : Chief Executive Officer statement " In a volatile and unpredictable year , we have demonstrated Unilever's resilience and agility through the Covid - 19 pandemic . I would like to thank the Unilever team , whose dedication and hard work has delivered a strong set of results under the most difficult of circumstances . Early in the year , we refocused the business on competitive growth , and the delivery of profit and cash as the best way to maximise value . We have delivered a step change in operational excellence through our focus on the fundamentals of growth . As a result , we are winning market share in over 60 % of our business in the last quarter , on the basis of measurable markets . The business also generated underlying operating profit of € 9.4 billion and free cash flow of € 7.7 billion , an increase of € 1.5 billion . We progressed our strategic agenda , building on our existing sustainability commitments with ambitious new targets and actions , most recently with our plans to help build a more equitable and inclusive society . We completed the unification of our legal structure under a single parent company and we continue to work on separating out the tea business as we evolve our portfolio . Today we are setting out our plans to drive long term growth through the strategic choices we are making and outlining our multi - year financial framework . While volatility and unpredictability will continue throughout 2021 , we begin the year in good shape and are confident in our ability to adapt to a rapidly changing environment . " 4 February 2021 Underlying sales growth ( USG ) , underlying volume growth ( UVG ) , underlying price growth ( UPG ) , underlying operating profit ( UOP ) , underlying operating margin ( UOM ) , underlying earnings per share ( underlying EPS ) , constant underlying EPS , underlying effective tax rate , free cash flow ( FCF ) , net debt , return on invested capital ( ROIC ) and underlying earnings before interest taxation , depreciation and a mortisation ( UEBITDA ) are non - GAAP measures ( see pages 7 to 11 )