联合利华2025年年度报告及账目

This is a PDF version of the Unilever Annual Report and Accounts 2025 and is an exact copyof the printed document provided to Unilever’s shareholders. The Annual Report and Accounts 2025 was filed with the National Storage Mechanismand the Dutch Authority for the Financial Markets in European Single Electronic Format,including a human-readable XHTML version of the Annual Report and Accounts 2025 (theESEF Format). The Annual Report and Accounts 2025 in ESEF Format is also available onUnilever’s website at www.unilever.com. Only the Annual Report and Accounts 2025 inESEF Format is the official version for purposes of the ESEF Regulation. Certain sections of the Unilever Annual Report and Accounts 2025 have been audited.These are on pages 128 to 191 and those parts noted as audited within the Directors’Remuneration Report on pages 78 to 108. The maintenance and integrity of the Unilever website is the responsibility of Unilever PLC;the work carried out by the auditors does not involve consideration of these matters.Accordingly, the auditors accept no responsibility for any changes that may have occurredto the financial statements since they were initially placed on the website. Legislation in the United Kingdom and the Netherlands governing the preparation anddissemination of financial statements may differ from legislation in other jurisdictions.Except where you are a shareholder, this material is provided for information purposesonly and is not, in particular, intended to confer any legal rights on you. This Annual Report and Accounts does not constitute an invitation to invest in Unilevershares. Any decisions you make in reliance on this information are solely your responsibility. The information is given as of the dates specified, is not updated, and any forward-lookingstatements are made subject to the reservations specified in the cautionary statement onthe inside back cover of this PDF. Unilever accepts no responsibility for any information on other websites that may beaccessed from this site by hyperlinks. Desireat Scale In this report FINANCIAL STATEMENTS STRATEGIC REPORT 110Statement of Directors’ Responsibilities111KPMG LLP’s Independent Auditor’s Report128Consolidated Financial StatementsUnilever Group133Notes to the Consolidated FinancialStatements184Company Accounts Unilever PLC187Notes to the Company AccountsUnilever PLC192Group Companies201Shareholder Information – FinancialCalendar202Additional Information for US ListingPurposes About Unilever2Unilever at a Glance4Our Strategy Review of the Year 6Chair’s Statement8Chief Executive Officer’s Statement10Unilever Group Financial Review14Financial Performance16Our People & Organisation17Business Group Review29Sustainability Review30Non-Financial Performance Our Principal Risks SUSTAINABILITY STATEMENT 31Risk Management Approach32Principal Risks38Viability Statement 214General Information219Environmental Disclosures249Social Disclosures266Governance Disclosures271Sustainability Statement LimitedAssurance Report273Index Our Performance39Additional Financial Disclosures47Additional Non-Financial Disclosures GOVERNANCE REPORT ONLINE 50Governance Report Overview52Board of Directors54Unilever Leadership Executive (ULE)56Operation of the Board62Additional Information65Report of the Nominating and CorporateGovernance Committee70Report of the Audit Committee75Report of the Corporate ResponsibilityCommittee78Directors’ Remuneration Report You can find more information about Unileveronline at www.unilever.com. The Unilever Annual Report and Accounts 2025(and the Additional Information for US ListingPurposes) along with other relevant documentscan be downloaded at www.unilever.com/investors/annual-report-and-accounts. References to information on websites in thisdocument are included as an aid to their locationand such information is not incorporated in, anddoes not form part of this document. Any websiteURL is included as text only and is not an active link. Unilever Ice Cream DemergerUnless otherwise stated, all figures are presented on a continuing operations basis. For Unilever, this comprisesof four Business Groups: Beauty & Wellbeing, Personal Care, Home Care and Foods. Comparative figures havebeen re-presented to reflect the demerger of the Ice Cream business. Perform and transform Consumers are demanding more than ever from brands. At the sametime, technology is rapidly reshaping choice and raising expectations.Our overriding priority in this fast-changing environment is to accelerateUnilever’s transformationand deliver ourvaluecreation ambitions. We now have a clear strategic framework to drive thetransformational shiftsneeded: realising ourDesire at Scalemodel to elevate the offering of our brandsand execute flawlessly in market; creating a high-performance,Play to Winculture; and building a faster, simpler and technology-enabled organisationFit for the AI Age. In 2025, weaccelerated volume growthandgross margin expansi