Main DIRECTOR of PT Unilever Indonesia (UNVR) Benjie Yap said that in the midst of economic challenges, his party managed to reap sales of IDR 27.4 trillion during the first nine months of 2024. These sales decreased by 10.1% compared to the same period last year.
Meanwhile, UNVR’s net profit in the third quarter of 2024 also shrank 28.1% compared to the same period last year to IDR 3 trillion.
“We have recovered some of our market share. However, our current market share remains below the level in 2023,” he said in an online press conference for Unilever Indonesia’s Third Quarter 2024 Corporate Financial Performance Report, Wednesday (23/10).
Benjie said that domestic segment sales declined by 9.9% on an annual basis (yoy) to IDR 26.63 trillion in the third quarter of 2024. The decline was caused by growth in base prices (underlying price growth/UPG) which is negative 4.1% in the third quarter of 2024 and basic volume growth (underlying volume growth/UVG) negative 5.8%. The decline in UVG was due to price volatility and a decrease in customer stock in the quarter.
“The third quarter of this year was very challenging. Export sales also fell 17%, but it did not have a material impact on our gross margin. We generated a gross margin of 48.4% despite a decline in UPG year to date until September 2024,” explained Benjie.
Despite facing challenges in selling Unilever products, Benjie emphasized that his party remains focused on producing quality innovations for its consumers. UNVR, he said, is strengthening its main brands and portfolio by launching products in new formats, for example Tresemme Serum, Ponds Sun Serum, and Royco Saus Tiram.
“Since they were launched, these products have received a positive response from consumers,” added Benjie.
His party is also trying to carry out transformation in distributive trade (DT) by encouraging more stores, better store quality, and bigger and better distributors with healthier inventory.
“We also optimize promotions to remain competitive when investing in brands and portfolios,” concluded Benjie. (E-2)
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