Unilever Maintains Rp1.44 Trillion Profit in Q1 2024, Up 3%

Unilever Indonesia Tbk's financial report shows that the company earned a profit of Rp1.44 trillion in the first quarter of 2024.

This profit increased by approximately 3% year-on-year (yoy) from Rp1.4 trillion in the first quarter of 2023.

However, the net sales of the UNVR-coded issuer amounted to Rp10.07 trillion in the first quarter of 2024, down approximately 4.95% (yoy) from Rp10.6 trillion in the first quarter of 2023.

(Read also: The Impact of Boycott: Unilever Indonesia's Sales Decline in 2023)

Citing Katadata, sales from the home and personal care segments increased to Rp6.22 trillion in 2024 from Rp6.61 trillion in 2023. Personal care export sales also increased by 2.6% to Rp214.56 billion from Rp209.12 billion in 2023.

On the other hand, domestic food and beverage sales decreased by 2.46% to Rp3.56 trillion from Rp3.65 trillion. Accordingly, export sales for the food and beverage segment also fell to Rp71.89 billion from Rp124 billion.

Despite the decline in sales, the company's gross margin increased by 61 basis points compared to 2023, reaching 49.9%. Compared to the previous quarter, UNVR's gross margin increased by 156 basis points.

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UNVR's assets were recorded at Rp18.34 trillion in the first quarter of 2024, up from Rp16.66 trillion in the same period of 2023.

Components of assets in the first quarter of 2024 include liabilities of Rp13.49 trillion and equity of Rp4.84 trillion.

Benjie Ya, President Director of Unilever Indonesia, stated that the company recorded an increase in financial performance, despite geopolitical and political climate challenges. He is optimistic that the company's capabilities can bring the business back to growth.

"This quarter's results reflect the company's agility in adapting to various challenges," said Benjie in a virtual public presentation of the first-quarter 2024 financial report on Wednesday (April 24).

(Read Katadata: Unilever Indonesia (UNVR) Posts Rp1.44 Trillion Profit in Q1)