UNVR - Continue to strengthen its business amidst challenges

UNVR - Continue to strengthen its business amidst challenges Unilever Indonesia (UNVR) is proactively strengthening its business fundamentals amidst challenges posed by reduced purchasing power and intense competition for FMCG sector in 9M23. Despite a decline in profits and sales, UNVR's performance shows signs of improvement compared to 1H23. UNVR reported a net profit of IDR 4.18 tn (-9.16% yoy) and net sales of IDR30.50 tn (-3.28% yoy). This dip is attributed to a decline in net sales throughout the period. Despite grappling with these declines, UNVR has shown signs of recovery in 3Q23, with domestic sales rising by 3.3% qoq, amounting IDR10.2 tn. UNVR is strategically shifting its operations to five managed business units in early 2024, focusing on beauty, personal care, household, nutrition, and ice cream, aiming to realize long-term growth potential in Indonesia. With five key priorities, UNVR is expected to effectively address challenges and maintain market leadership. These steps involve maximizing the potential of flagship brands, expanding and enriching the portfolio across premium and value segments, building an execution powerhouse to strengthen leadership in key channels, implementing an "e-everything" approach across all business lines, and leading the sustainability agenda. (Source : Bisnis Indonesia)