Unilever Indonesia (UNVR) Records Profit Growth in the First Quarter of 2024

April 25, 2024, 01.15 AM  | Reporter: Yudho Winarto
Unilever Indonesia (UNVR) Records Profit Growth in the First Quarter of 2024

ILUSTRASI. PT Unilever Tbk (UNVR) office lobby. Doc. KONTAN

LISTED COMPANY - JAKARTA. PT Unilever Indonesia Tbk (UNVR), also known as Unilever, has announced its first quarter results for 2024, which show an increase in gross margin and positive basic volume growth.

The company reported net sales of IDR 10.1 trillion, with a net profit of IDR 1.4 trillion.

Profit before tax (PBT) also increased, rising by 131 basis points compared to the previous year, reaching 18.4%, and increasing by 844 basis points compared to the previous quarter.

Read Also: European Companies Cut Jobs as Economy Sputters

The company's overall performance showed good growth indicators, with positive basic volume growth (UVG) of 0.2% compared to the previous year.

Domestic revenue increased by 24.7% from the previous quarter, despite a decline of 4.7% compared to the first quarter of 2023.

The company's gross margin increased by 61 basis points compared to the previous year, reaching 49.9%, and increased by 156 basis points compared to the previous quarter.

Read Also: Unilever Indonesia (UNVR) Continues to Focus on Strengthening Fundamentals

This was accompanied by an increase in advertising spending of 107 basis points, marking an increase in brand communication.



"This quarter's results reflect the company's agility in adapting to various challenges. We have noted an improvement in the company's financial performance, including growth in terms of volume and margin. Despite geopolitical and political climate challenges, we are confident in the company's ability to bring the business back to growth," said Unilever President Director Benjie Yap in his press release on Wednesday (24/4).

To support this growth, Unilever Indonesia continues to prioritize strengthening its main brands, launching innovative products, strengthening execution in the market, and increasing business impact and continuously driving various sustainability initiatives.

The company also launched several innovative products to strengthen its portfolio in both the premium and value segments.

To further strengthen the company's leadership in the value segment, Unilever has launched Lifebuoy dishwashing liquid, which meets market needs amid increasing economic activity.

Read Also: Prospects for Unilever (UNVR) After 2023 Profit Fell 10.5%, Analyst Recommendations

In addition, in the premium segment, the Pepsodent brand launched the Electric Toothbrush product and not to be outdone, the Tresemme Serum hair care product in the premium segment, and also relaunched Pepsodent Herbal.

In today's disclosure, Unilever also strengthened its commitment to continue driving competitive volume growth and gross margin, continue investing in brands and strategic priorities, and accelerate the Go-To-Market transformation.

With these encouraging results, Unilever Indonesia reaffirms its position as a market leader in more than 80% of the categories in which the company operates.

Editor: Syamsul Azhar

Latest News