JAKARTA - Shares of PT Unilever Indonesia Tbk (UNVR) closed lower by 0.89 percent to the level of IDR 2,220 in trading Thursday, September 5, 2024 and year to date (ytd) this stock fell 37.11 percent.
Head Customer Literation and Education Kiwoom Sekuritas Indonesia Oktavianus Audi said the decline in UNVR prices by 37.11 percent (ytd) was due to performance trends that tended to contract in recent quarters.
"As in the first semester of 2024, profit of Rp2.47 trillion or decreased by 10.6 percent on an annual basis or year on year (yoy) and during 2023 profit was recorded at Rp4.8 trillion or decreased by 10.5 percent (yoy)," he explained to VOI, Thursday, September 5.
In addition, Audi said that as a dividend player after COVID-19, the value per share was getting smaller, seen in 2018 the dividend per sheet was IDR 915 and in 2019 it was IDR 1,205. Meanwhile, after COVID-19, 2020, the dividend value per sheet was IDR 194, in 2021 it was IDR 166 and in 2022 it was IDR 153 per sheet.
"So this is what makes UNVR shares tend to continue to be released by investors," he said.
According to Audi in 2024, coupled with the fluctuation of economic uncertainty and the potential for slowdown due to people's purchasing power which has decreased from tightening monetary policy and government regulations to further suppress the consumer sector.
Similarly, the Senior Market Chartist Mirae Asset Sekuritas, Nafan Aji Gusta explained that the decline in UNVR shares was due to declining performance due to declining demand.
"Actually, this performance has decreased demand. Yes, even though it is related to performance," he said.
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Nafan hopes that in the future UNVR shares can show performance improvement and its fundamentals will remain strong and must issue new products.
"The most important thing is product innovation, yes, that's the most essential thing. Otherwise, these new performances will decrease, because of the lack of innovation," he explained.
According to Nafan, Unilever's performance is different from that of ICBP, INDF and Mayora, which experienced an increase in stock prices which were influenced by an increase in the performance of the top line and bottom line.
"But if it's in Unilever, it actually comes back again, it has to be a business innovation," he concluded.
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