Despite Sales Of Up 4.2 Percent, Unilever's Net Profit Down To IDR 5.36 Trillion

Unilever illustration (Photo: Doc. Antara)

JAKARTA - PT Unilever Indonesia (UNVR) recorded a 6.83 percent decrease in net profit to IDR 5.36 trillion in 2022. This amount is compared to 2021 which amounted to IDR 5.76 trillion.

President Director of PT Unilever Indonesia Ira Noviarti said the company recorded net sales of IDR 41.2 trillion in 2022, or grew 4.2 percent year on year (yoy).

"Despite the intense competition in the FMCG industry and various challenges such as rising commodity and fuel prices, our competitiveness has increased with the company's total market share in 2022 strengthened compared to 2021," said Ira in his statement, Friday, February 10.

He said UNVR had strengthened its major brands in 2022 by increasing investment in higher advertising spending, which is more than 30% when compared to 2021 and improving the quality of better product innovations.

This effort has proven to be able to increase the competitiveness of the Company's brands in 2022, as reflected in the Company's total market share which is greater than last year - both in value and volume.

To respond to changes in consumer needs and the purchasing power of Indonesians throughout the year of recovery, the Company continues to invest more in development and innovation, offering a series of products with superior performance and quality, encouraging market development programs that reach more consumers. Also, launching 44 innovations across all segments of the core, premium segments and as well as segment value.

In the third quarter of 2022, he revealed that the company reduces stock on the trade side, and this step continues in the fourth quarter of 2022 which aims to make businesses more future-fit and more agile.

"This initiative has received appreciation from customers, and we can also focus more on encouraging competitive sell-out growth", said Ira.

He explained that this reduction in stock has no effect on the Company's sales in outlets or consumers. It was noted that sales from company customers in consumers experienced strong growth of 5.6 percent in the fiscal year 2022.

Meanwhile, UNVR's total assets decreased to IDR 18.32 trillion in 2022. Where, the previous year was in the position of IDR 19.07 trillion.

Meanwhile, in terms of liabilities, the company recorded total liabilities in 2022 reaching IDR 14.32 trillion which also decreased compared to IDR 14.75 trillion in 2021. Also, equity which also decreased to IDR 18.32 trillion in 2022 compared to IDR 19.07 trillion in 2021.