Unilever Indonesia (UNVR) Continues to Focus on Strengthening Fundamentals

ISSUER - JAKARTA. Despite facing various pressures and complex industry dynamics, PT Unilever Indonesia Tbk (UNVR) continues to show resilience by announcing its financial report for the fiscal year 2023.

In an optimistic statement, Benjie Yap, the Elected President and Director of PT Unilever Indonesia, Tbk., stated that their focus on long-term growth has yielded satisfying results.

The report revealed that Unilever Indonesia recorded net sales of IDR 38.6 trillion and net profit reaching IDR 4.8 trillion.

Not only that, they also managed to increase the Gross Margin by 346 bps compared to the previous year.

Economic expert Piter Abdullah analyzed Unilever Indonesia's performance in 2023 by considering various factors that affect the company's financial results.

With significant achievements in net sales and net profit still being positive, it became an important highlight. For Piter, this achievement reflects Unilever Indonesia's commitment to strengthening its business fundamentals to maintain the company's solid performance.

"Despite facing challenges from the shift in sentiment due to the geopolitical situation at the end of 2023, Unilever Indonesia managed to show resilience with positive growth in previous quarters. The company's consistent efforts in navigating this crisis have also begun to show positive results in early 2024," Piter explained in his statement on Wednesday (7/2).

This senior economist highlighted the importance of continuously monitoring market sentiment changes and geopolitical uncertainties that could affect business performance in the future.

"With the right strategy, Unilever Indonesia has the potential to overcome challenges and take advantage of opportunities for sustainable growth," added Piter.

Unilever Indonesia's President Director Benjie Yap underlined the company's journey throughout 2023.

"Our commitment to strengthening business fundamentals remained a top priority throughout 2023. Despite facing various obstacles, our positive momentum recorded a 3.3% increase in domestic sales in the 3rd quarter of 2023."

Even though the end of the year brought new challenges caused by the geopolitical situation, Unilever Indonesia has successfully maintained the company's performance and is now seeing positive indicators at the beginning of 2024.

In the spirit of continuous growth, Unilever Indonesia maintains its five strategic priorities, as revealed by Benjie Yap: strengthening and leveraging the potential of main brands, expanding the portfolio to premium and value segments, building an execution powerhouse, leading transformational capabilities, and placing sustainability principles at the core of the company.

Innovation remains the key to Unilever Indonesia's success, with them introducing new products that impact various market segments.

Increased media investment support also provides a significant boost in bringing these innovations to the market.

The challenges in 2023 did not shake Unilever Indonesia, in fact, the spirit to continue to grow is still growing.

Benjie Yap emphasized, "With the current positive trend, we are confident that we are on the right track to grow our business in 2024."

The company also expressed gratitude for the unwavering support from consumers, customers, partners, and stakeholders who have remained loyal with them during these difficult times.

With a strong commitment to its business values to uphold business integrity and produce quality products, Unilever Indonesia is optimistic to continue to generate consistent, profitable, competitive, and responsible growth.

In facing various challenges, Unilever Indonesia continues to prove that with a strong spirit and the right focus, they can overcome all obstacles and remain on the path to long-term success.