Health & Wellbeing
Investor Deep Dive
July 6, 2022
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Fernando Fernandez
President, Beauty & Wellbeing
Unilever’s New Organisational Structure
Business Groups
Beauty & Personal Home
Nutrition Ice Cream
Wellbeing Care Care
Health &
Hair Care Skin Care Prestige Wellbeing
Vitamins,
Minerals &
Supplements
Jostein Solheim
CEO, Health & Wellbeing
Jostein Solheim
Former CEO of Ben & Jerry’s
for 8 years
30 years at Unilever with deep
experience across categories
and markets
CEO, Health & Wellbeing
Agenda
Introduction to Health & Wellbeing
Unilever’s Vitamins, Minerals & Supplements business
Strategy and Value Creation Model
Health & Wellbeing is...
A portfolio of fast growing, lifestyle-
led, science-driven brands
Focused on attractive segments,
product formats & channels
Underpinned by a Unilever platform
of capabilities to scale and unlock
value
Unilever Health & Wellbeing
>€1bn 50%+ +45%
+35bps 40%
OF SALES
turnover1 growth p.a. to Unilever USG of sales online
ONLINE
since 20192 in 2021
A profitable, fast-growing business of lifestyle brands
1 Turnover on an annualised basis 2 Like-for-like turnover 2019-2021
Focused and disciplined approach to M&A
2018 2019 2020 2021 2022
Leading position in gummies, the fastest growing
major VMS format
Delightful vitamins and supplements
with real-life benefits
#1 Sleep gummies
FDM #2 VMS gummy brand1
Science based nutrition made with
premium ingredients for kids & adults
#1 Multivitamins
#2 VMS gummies
1 Food, Drug & Mass Channels
Disruptive, digitally native brands
Lifestyle-led functional hydration brand
that has disrupted the market
#1 Powdered Hydration
Authority on brain supplements with
a passionate community of followers
#2 Nootropics /
brain supplements
Acquired a majority stake in Nutrafol
Strengthening the portfolio in ‘beauty from within’
• Hair health concerns affect more than 114
million U.S. consumers.
• #1 dermatologist recommended hair growth
supplement in the U.S.
• 2/3rds of sales from Nutrafol.com.
• Clinically-backed, physician-formulated science.
• Opportunity to scale through regime building
and international expansion.
Strategy and Value Creation Model
Focused on high growth segments and key
geographies
VMS market by geography VMS market by segment
MARKET STRATEGIC
SIZE (RSV) FIT
Vitamins &
Dietary Supplements €105bn
Functional Hydration >€18bn
Weight Management €17bn
MARKET SIZE 2016-21 CAGR
>€160 billion1 5% Sports Nutrition €20bn
High growth segment Vitamins & Dietary Supplements: High growth benefit spaces
1 Market Size includes Vitamins, Minerals & Supplements + Sports Drinks/Functional Hydration (Euromonitor 2021)
VMS market is going through a major shift
From ‘health as the absence of disease’
to ‘health as a lifestyle pursuit’
Key drivers underpinning this shift
Trusted science & transparency
Benefit-led & personalized
Purpose driven & “Better-for-you”
Social proof & endorsement
Uniquely positioned to benefit from market
tailwinds
Majority 2x Majority 58%
of category growth higher growth in our of projected category of projected VMS
will come from focused segments growth from eCom1 consumption by 2040
Gummies, Powders1 from Millennials and
Gen Zs
80%2 of our business is 65%2 of our sales are 40% of our sales are 75%3 of our media
in Gummies & from these segments from eCommerce spend targets Millennial
Powders & Gen Z consumers
1 Nutrition Business Journal 2020 2 Percentage of US Sales 3 Estimated percentage of targetable media spend in 2022 (in US)
Networked and agile operating model, designed
to create value
Agile, focused, with brilliant execution for strong growth
Operating
Companies
Demand-creation Operations
Data & Analytics Customer & Channel Networked
to support performance execution excellence supply chain
marketing at scale unlocking efficiencies
Unilever Leading Science Rigorous Regulatory &
Capabilities and innovation capability Quality Assurance
that guarantees integrity Back-office
unlocking synergies
International Expansion
Common, integrated technology backbone
Ambition to reach €3 billion in turnover
Levers of the Growth Strategy
€3 Organic Growth in US
billion Science-led Innovation
Increase awareness, penetration and availability
Majority
Value creation driving cost and revenue synergies
of growth will be International
organic
China for China: Dedicated operating team
Key European markets
>50% Seeding in markets of the Future
of business will be Inorganic Growth (M&A)
online Focused need spaces & geographies
Key takeaways
>€1bn turnover with 50%+ like-for-like
growth p.a. since 20191
A portfolio of fast growing, lifestyle-led,
science-driven brands
Focused on attractive segments,
product formats & channels
Underpinned by a platform of Unilever
capabilities to scale and unlock value
Ambition to reach €3bn turnover
1 Turnover on an annualised basis; Like-for-like turnover 2019-2021
Health & Wellbeing
Investor Deep Dive
July 6, 2022
