Unilever Nigeria Plc in its half-year (H1) 2022 financial statement reported a 35 percent increase in revenue to N43.81 billion from N32.42 billion in the first half of 2021.
After the loss recorded in 2020, Unilever braced against all odds to record a profit of N631.35 million in H1’21.
Unilever’s profit grew by a massive 167 percent to N1.90 billion in H1’22 from N631.35 million in H1’21.
Here are major take points from Unilever’s financials:
Cost of sales – 22% jump
Unilever’s cost of sales jumped by 22.36 percent to N29.61 billion in the first half of 2022 from N24.2 billion in the same period of 2021.
The consumer goods cost of sales claimed 67.6 percent of the firm’s total revenue of N43.8 billion in the first half of 2022.
Shareholders’ equity
Shareholders’ equity, the amount a company has directly invested, and the accumulation of income the company has earned and that has been reinvested since inception rose to N64.79 percent in the first half of 2022, a 3 percent jump from N62.84 billion in the first half of 2021.
Cash and cash equivalents
Unilever’s total cash and cash equivalents recorded in the first half of 2022 grew by 43.5 percent to N63 billion from N44 billion in the first half of 2021.
Read also: IWD 2022: Unilever advocates equity to achieve fairness for all
Cash generated from its operations
Unilever’s cash generated from its operations dropped to N8.28 billion in the first half of 2022, down 17 percent from N7.05 billion in the same period of 2021.
Marketing expenses
Unilever increased its marketing expenses to N8.88 billion, a 32.3 percent high from N6.7 billion in the first half of last year.
According to Investopedia, cash and cash equivalents refer to the line item on the balance sheet that reports the value of a company’s assets that are cash or can be converted into cash immediately.
Selling and distribution expenses
Unilever saw its selling and distribution expenses at a 54 percent growth to N2.28 billion in the first half of this year, coming from N1.48 billion in the corresponding period of 2021.
Revenue growth
Unilever’s revenue grew to N43.8 billion in the first half of 2022, a 35 percent increase from N32.4 billion in the first half of 2021.
The segment which contributed the most is its food product business with 39.5 percent growth which amounted to N19.87 billion in the first half of 2022, an increase compared to N14.24 billion in the first half of 2021.
The firm’s revenue generated from home and personal care products segment also grew by 31.4 percent to N23.93 billion in the first half of 2022 from N18.18 billion in the first half of 2021.
