Near Bankruptcy, Tupperware's Net Profit Repeatedly Negative

The plastic storage container producer, Tupperware, is faltering and potentially facing bankruptcy. The company's financial condition is reportedly deteriorating.

Tupperware's management explained that it does not have enough cash to fund its operations without additional funding. Therefore, the American brand needs additional capital to survive.

Tupperware CEO Miguel Fernandez stated that the company is exploring potential layoffs (PHK) and reviewing its real estate portfolio for more potential cost savings.

"The company is doing everything it can to mitigate the impact of recent events, and we are taking immediate action to seek additional financing and address our financial position," Miguel Fernandez said, as quoted by CNN International on Tuesday (April 11, 2023).

So, what is the net profit of this 77-year-old company?

According to its financial statements, Tupperware recorded losses twice between 2016 and 2022.

In 2022, Tupperware recorded a loss of US$14.2 million or Rp211.28 billion (assuming an exchange rate of Rp14,879 per US dollar). This is despite net sales reaching US$1.3 billion or Rp19.42 trillion.

In 2021, its net profit reached only US$18.6 million or Rp276.74 billion. This is a significant decline from 2020, when it recorded a net profit of US$112.2 million or Rp1.66 trillion.

A significant loss of US$265.4 million or Rp3.94 trillion occurred in 2017. This was the largest net loss in the last seven years.

In general, Tupperware's net profit has been fluctuating, with significantly varying amounts from year to year. Note that the 2022 financial statements are still under audit.

The following is Tupperware's net profit (2016-2022):

* 2016: US$223.6 million or Rp3.32 trillion
* 2017: US$(265.4) million or Rp(3.94) trillion
* 2018: US$155.9 million or Rp2.32 trillion
* 2019: US$12.4 million or Rp184.50 billion
* 2020: US$112.2 million or Rp1.66 trillion
* 2021: US$18.6 million or Rp276.74 billion
* 2022: US$(14.2) million or Rp(211.28) billion

(Also read: On the Brink of Bankruptcy, Tupperware Shares Plummet After Layoff Announcement)