Receh.in - PT Unilever Indonesia (Persero) Tbk. (UNVR) announced its 2022 financial performance report that has been audited. Unilever Indonesia recorded a net income of Rp 41.2 trillion throughout 2022, growing 4.2% year on year with a net profit of Rp 5.4 trillion.
The President Director of PT Unilever Indonesia, Tbk Ira Noviarti said that in 2022 the company prepared a stronger foundation for the revival of the business after going through a tough year in 2021.
"Despite the intense competition in the FMCG industry and various challenges such as the increase in commodity and fuel prices, our competitiveness has increased with the company's total market share in 2022 strengthening compared to 2021. We were able to overcome various unexpected obstacles, and made 2022 a good start for the recovery of Unilever Indonesia," said Ira in a written statement, Thursday (9/2/2023).
During 2022, Ira said, Unilever Indonesia continued to strengthen its business fundamentals towards competitive and sustainable growth while still carrying out its five strategic priorities. The five priorities are, firstly, to strengthen and unlock the full potential of the main brands. Secondly, to expand and enrich the portfolio to the premium and value segments.
Thirdly, to strengthen leadership in the main channels (GT and modern trade) and future channels (ecommerce). Fourthly, Ira continued, the implementation of E-Everything in all business lines. Fifthly, remain the leading in sustainable business development.
Ira stated that in line with the strategy, the company increased media spending, launched various new innovations, developed markets to recruit more consumers and increase consumption, and transformed channels to better serve consumers.
Unilever Indonesia, Ira said, strengthened its big brands in 2022 by increasing advertising spending by 30% higher than in 2021 and improving the quality of better product innovations. This effort, he said, proved to be able to increase the competitiveness of the company's brands in 2022, as reflected in the company's larger market share compared to last year, both in terms of value and volume.
Ira explained that to respond to changes in consumer needs and the purchasing power of the Indonesian people during the recovery year, Unilever Indonesia invested more in development and innovation, offering a range of superior performance and quality products, promoting market development programs that reach more consumers, and launching 44 innovations in all core segments, premium segments, and value segments.
Another key aspect of the business fundamentals is the excellent execution in the main channels (GT and modern trade) and future channels (ecommerce).
"We started the channel transformation program in the second semester of 2021, where we consolidated the number of DT distributors to make it larger and healthier. In the third quarter of 2022, we reduced stock on the trade side, and this continued in the fourth quarter of 2022. We believe this is the right strategy to make our business more future-fit and more agile," said Ira.
"Our efforts in reducing stock levels have already started to show positive results, both in terms of cost and in line with these strategies, the company has increased its media spending, launched various new innovations, developed its market to recruit more customers, and transformed its channels to better serve customers. Unilever Indonesia has strengthened its major brands in 2022 by increasing its advertising spending by 30% compared to 2021, and by improving the quality of its product innovations. Ira said these efforts have been proven to increase the competitiveness of the company's brands in 2022, as reflected in the larger market share of the company compared to the previous year, both in terms of value and volume.
To respond to changes in the needs and purchasing power of the Indonesian population during the recovery year, Unilever Indonesia invested more in development and innovation, offering a range of products with superior performance and quality, promoting market development programs that reach more customers, and launching 44 innovations across the core, premium, and value segments. Another key aspect of the company's business fundamentals is the very good execution in the main channels (GT and modern trade) and the future channels (e-commerce).
"We started the channel transformation program in the second semester of 2021, where we consolidated the number of DT distributors to make it bigger and healthier. In the third quarter of 2022, we reduced stock on the trade side, and this continued into the fourth quarter of 2022. We believe this is the right strategy to make our business more future-fit and more agile," said Ira. "Our efforts to reduce stock levels have already begun to show positive results, both in terms of costs and inventory management."
Ira concluded that Unilever Indonesia's strong financial performance in 2022 is a testament to the company's resilience and ability to adapt to changing market conditions. The company remains committed to its five strategic priorities and continues to pursue sustainable growth and competitiveness for the future.
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