Accra, Ghana//-The management of Unilever Ghana Plc has thrown more light on the impressive financial results for the year ended 2023 at the Facts Behind Figures Forum organised by the Ghana Stock Exchange (GSE) for listed companies.
Leading the charge, the Managing Director of Unilever Ghana Plc, Chris Wulff-Caesar explained that the company’s revenue increased to GH¢908 million in 2023, up from GH¢632 million recorded in 2022. This represents a 44% increase in revenue over the period.
He added that the company under a strong team of varied seasoned professionals ended the year having recorded a profit of Ghc41 million in 2023, up from Ghc15 million in 2022 and a positive cash and cash equivalent position of Ghc109 million in 2023 compared with the deficit of Ghc59 million recorded in 2022.
According to Wulff-Caesar, the improved turnaround in 2023 was largely a result of continued investment in coverage, innovation and a strong focus on driving volume recovery and enhancing profitability.
“As a business committed to delivering consistent, sustainable growth, we continued to focus on; improving the efficiency and effectiveness of our Route-To Market; investing in demand-generating and equity-building activities to drive volume growth; and strict adherence to good governance practices, and our Code in managing the business”.
Dividends
Based on the impressive performance, the Board of Directors of Unilever Ghana Plc recommended a dividend payout of GH¢0.40 (40 pesewas) per share amounting to GH¢25, 000,000.
The company sustained its investments in building the equity of its core brands including its heritage brands such as key soap, pepsodent, and geisha, among others.
Personal care category
The Personal Care Category as stated by the Unilever Ghana Plc’s 2023 Annual Reports & Consolidated Financial Statements delivered a strong Underlying Sales Growth of 45.3% with the Beauty & Wellbeing Category delivering a sterling performance to close the year at an Underlying Sales Growth of 110% albeit from a small base.
Pepsodent and Lifebuoy continued to impact lives through the School and Community behavioural change campaigns on day and night brushing and proper handwashing respectively. These two major purpose activities
reached over 2 million Ghanaians, it added.
Focus on the coming year remains to grow competitively and profitably through volume and expand the portfolio into emerging and growing segments.
Homecare
The Home Care Category achieved an underlying sales growth of 30.7%. That category continued with its strong focus on driving volume recovery and enhancing profitability.
The company during the year under-view relaunched Key Adepa 250g to meet the growing needs of consumers for Mid-Size bars. Also, with a new strategic direction, the Home and Hygiene & Powders portfolio was revamped to enhance competitiveness within the market. In 2024, the focus will be on profitable volume recovery for all subcategories and portfolio expansion.
Nutrition
The Nutrition component of the company achieved an underlying sales growth of 90% on the back of improved supplies. The focus in 2024 will be to expand the portfolio and improve the brand’s footprint in the delivery of nutrition to Ghanaians, according to senior executives of the company.
Sustainability activities
Mr Wulff-Caesar said the company deployed its sustainability projects mainly in support of the collection and recycling of plastic waste.
He emphasised that the company was involved in several sustainability initiatives within the year 2023. On plastics, Unilever Ghana joined the Ghana Recycling Initiative by Private Enterprises (GRIPE) for some waste collection activities notable amongst them was the Laboma Beach cleaning exercise.
Unilever Ghana PLC also organized one such collection campaign at the Tema MPS Port Beach in collaboration with GRIPE, the Coastal Conservancy Organization, and Zoomlion.
Unilever Ghana PLC also collaborated with the Tema Municipal Authority (TMA) and the Twedase Basic School in Tema to plant 200 trees to mark World Environment Day.
Work also commenced in both the Upper West and Greater Accra regions to recruit 300 additional women into the company’s Women Empowerment project, Shakti/Songtaa. Funding for the project was secured from Bopinc, a partner organization on sustainability projects.
The company had commenced work to extend the project to other regions of the country. Many more schools benefitted from the teaching of oral personal hygiene habits in schools and communities across the country, while product donations were made to various organisations to help improve the health and hygiene status of the beneficiaries.
Outlook For 2024
Mr Wulff-Caesar assured that the company remains upbeat about the company’s commitment towards its purpose of ‘Making Sustainable Living Commonplace’.
Instructively, Unilever Ghana was established in 1992 through the merger of UAC Ghana and Lever Brothers, which had been in existence since the 1920s. The company is listed on the Ghana Stock Exchange.
