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    Fulvio Cazzol

    Research Analyst at Berenberg

    Fulvio Cazzol is an Equity Analyst at Berenberg specializing in the Food and Household Personal Care sectors, with a focus on companies such as Nestlé, The Estée Lauder Companies, Kimberly-Clark, and Coty. Over his career, he has issued nine ratings with a 50% success rate and an average return of -5.33%, ranking him around the midpoint of global equity analysts by platforms like TipRanks. Cazzol began his analyst career at Goldman Sachs as Lead Analyst covering Household Personal Care and Tobacco before joining Berenberg in July 2019, and brings over 14 years of sector experience. He is a CPA, holds a Bachelor of Commerce from the University of Adelaide, and works from Berenberg’s London office.

    Fulvio Cazzol's questions to UNILEVER (UL) leadership

    Fulvio Cazzol's questions to UNILEVER (UL) leadership • Q2 2024

    Question

    Fulvio Cazzol inquired about the gross margin development specifically for the Power Brands and asked for expectations regarding the European consumer, given recent strong performance in the region.

    Answer

    CEO Hein M. Schumacher attributed the strength in Europe to consumers responding well to significant innovations like Wonder Wash and new deodorant varieties. CFO Fernando Fernandez stated that the gross margin progression for Power Brands was similar to the rest of the portfolio, but reminded that Power Brands operate at a 400-500 basis point higher gross margin overall.

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