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Manila Bulletin devider Business devider Trade & Industry devider Unilever PH sees above GDP growth this year

Unilever PH sees above GDP growth this year

Published Feb 12, 2024 08:28 am

As the economy gradually recovers and inflation eases, large-scale mega retail corporation Unilever Philippines remains positive in achieving higher growth revenues well above the country's gross domestic product (GDP).

Fredy Ong, newly-appointed chairman and CEO of Unilever PH, emphasized during a media conference on Monday, Feb. 12 that the business unit is "counted on as one of the countries that will deliver high growth."

"Our growth has always been above GDP, that's what I can commit to you," said Ong, noting that the official figures will be released by the company in April yet.

"We remain confident about our prospects for growth in the Philippines and we intend to grow fast and responsibly," added Ong,  who is also head of Unilever Customer Development.

Fredy Ong Unilever.jpg
Unilever Chairman and CEO Fredy Ong

To drive this growth, Ong noted that the company aims to increase investments on its core brands for hair care products, and wellness and beauty segments. For the Ice Cream segment, the company is working with RFM Corporation through a joint venture.

It will also focus on brand superiority by making sure its products deliver the best benefits, as well as innovating goods that are relevant to the Philippine market.

Unilever is currently employing a category-based model to ensure its segments are fully-efficient, optimized, and agile to incoming trends and can withstand headwinds at the macro or micro level. These five categories include B&W, Nutrition, Personal Care (PC), Home Care, and Ice Cream.

Nutrition is the company's largest business unit serving 16 million households. It's products are 100 percent Philippine-sourced. For instance, it has partnered with 1,000 farmers for its supply of sampaloc.

Meanwhile, PC is their fastest growing business unit, with Unilever Philippines ranking second behind Unilever Vietnam as the largest segment in the Southeast Asian region.

Moreover, home care, which serves 27 million households, is the company's biggest volume driver, and Selecta being the top ice cream business in the local market.

Unilever has poured P4.7  billion in investment in its B&W, PC, and Nutrition factories in General Trias, Cavite, where they expect to increase production by 15 percent.

Overall, the firm manufactures 90 percent of its products in the Philippines, with the remaining 10 percent are produced overseas due to production specialization.

"We recognize the opportunity for our business to grow competitively. In the Philippines,  we will drive category growth, grow volumes and market share through ruthless focus on our strategy, powered by data and digital transformation," said Ong.

According to the company, 99 percent of Filipino households have Unilever products in their homes.

In the Advantage Group Survey for 2023, Unilever Philippines emerged as the top fast-moving consumer goods (FMCG) supplier in the country, with consistent high scores since 2018. 
 

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