Unilever Indonesia reports performance in the first quarter of 2024. FOTO/doc.SINDOnews
JAKARTA – PT Unilever Indonesia Tbk ( UNVR ) recorded a profit of IDR 1.4 trillion in the first quarter of 2024 or an increase of 3.1 percent compared to the first quarter of 2023 driven by an increase in gross margin and lower service costs.
Based on financial reports, net sales were recorded at IDR 10.1 trillion or down 4.9 percent compared to the first quarter of 2023 which was IDR 10.6 trillion.
Unilever Indonesia President Director Benjie Yap said that despite geopolitical challenges and the political climate, he was confident in the company’s ability to bring business back to growth.
“This quarter’s results reflect the company’s agility in adapting to various challenges. We noted an increase in the Company’s financial performance including growth in terms of volume and margin,” said Benjie in an official statement, Wednesday (24/4/2024).
March sales levels in Unilever Indonesia’s main channels have recovered to third quarter 2023 levels and month-on-month market share continues to increase compared to the lowest position in December 2023.
“The company has also succeeded in maintaining its position as a market leader in more than 80 percent of the categories in which we operate,” he explained.
These positive results are an effort to effectively execute Unilever Indonesia’s strategic priorities. Going forward, UNVR will remain focused on driving business growth and progress, in line with our commitment to producing consistent, profitable, competitive and responsible business.
“We will continue to maintain our competitiveness in the market through superior innovation, impressive brand communication and market development programs,” he said.
A series of strategies carried out by Unilever Indonesia are strengthening main brands, creating markets, strengthening execution in the market, increasing business impact and sustainability in the core of the business.
“Focusing on power brands, we continue to strengthen our main brands which contribute almost 80 percent of our sales,” he said.
