Hellmann's (Unilever): Mayo Cat
The cat on a mission to save human food
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Annual report 2024
In 2024 we achieved significant progress against our strategy, despite a challenging environment and top-line pressures
WPP Open was central to our biggest pitch successes in 2024 as it becomes increasingly embedded at the heart of our offer and ways of working
Chief Executive's Statement PDF 1.4 MB
Our work
In 2024 we delivered imaginative, impactful and technology-driven campaigns for many of the world’s leading brands
The efficiency initiatives we are implementing will support our ambition to deliver more profitable growth over the medium-term, as well as continued investment in WPP Open, AI, data and our talent
Download Chief Financial Officer's Statement PDF 1.4 MB
Download Financial Review PDF 683 KB
Our performance
Although challenging trading conditions weighed on our top-line performance, we further improved our margin, cash conversion and a number of other key performance indicators
Stable revenue and profitability
Revenue
Revenue less pass-through costs1
Operating profit
Headline operating margin2
£14.7bn
(2023: £14.8bn)
Revenue less pass-through costs1
£11.4bn
(2023: £11.9bn)
Operating profit
£1.3bn
(2023: £0.5bn)
Headline operating margin2
15.0%
(2023: 14.8%)| 1 The Group uses alternative performance measures in explaining its results, which are described from page 196 in the Annual Report 2024 |
| 2 Headline operating profit of £1,707 million (2023: £1,750 million) as a percentage of revenue less pass-through costs of £11,359 million (2023: £11,860 million). Reported profit before tax was £1,031 million (2023: £346 million) |
Increased returns to shareholders based on strong financial foundations
Diluted earnings per share
Dividend per share
Adjusted operating cash flow conversion3
Average adjusted net debt/headline EBITDA3
49.4p
(2023: 10.1p)
Dividend per share
39.4p
(2023: 39.4p)
Adjusted operating cash flow conversion3
86%
(2023: 73%)
Average adjusted net debt/headline EBITDA3
1.80x
(2023: 1.83x)| 3 See definitions in the Glossary from page 203 in the Annual Report 2024 |
Continued progress on our key non-financial performance indicators
Proportion of women in executive leadership roles4
Electricity purchased from renewable sources
Client net promoter score
WPP Open monthly active users
42%
(2023: 41%)
Electricity purchased from renewable sources
93%
(2023: 88%)
Client net promoter score
31.4
(2023: 27.5)
WPP Open monthly active users
33,000
(2023: 10,000)| 4 In line with the FTSE Women Leaders Review, the independent, business-led framework supported by the UK government. Executive leadership roles are defined as the board and executive leadership population (see WPP Sustainability Reporting Criteria 2024) |
Investment case
Our global scale, strong client relationships and leading capabilities underpin our strategy to accelerate growth and drive shareholder returns
Download Investment Case PDF 582 KB
Business model
We provide marketing services that help brands grow and transform their businesses
Download Business Model PDF 703 KBStrategy
Our strategy aims to capture the opportunities offered by AI, maximise the potential of creative transformation and deliver faster growth, higher margins and improved cash generation
Download Strategy PDF 7.7 MB
Sustainability
We use our creativity combined with our global scale to meet sustainability obligations within our own business, our clients’ businesses and across our industry
Download Sustainability PDF 3.2 MBDownload Sustainability Committee Report PDF 1.2 MB
Corporate governance
WPP is well placed to capitalise on the changing market landscape
Download Chair's Letter PDF 1.4 MB
Download Corporate Governance PDF 8.2 MB
