UNVR Ice Cream Business Prospect, JP Morgan Says

Unilever Indonesia recorded revenue of IDR 38.61 trillion and a profit of IDR 4.80 trillion in 2023. Both figures indicate an annual decline in both the top line (revenue) and bottom line (profit).

M. Nurhadi Pratomo

13 Apr 2024 - 11.39
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UNVR Ice Cream Business Prospect, JP Morgan Says

Unilever logo at the company's offices in Rotterdam, Netherlands. - Bloomberg/Peter Boer

Bisnis, JAKARTA — J.P. Morgan, the US-based investment bank, offers an analysis of the ice cream segment of PT Unilever Indonesia Tbk. (UNVR) based on the latest research conducted by the Asean Metals and Indo Auto & Consumer Research team of J.P. Morgan.

Drawing from Euromonitor data, J.P. Morgan highlights that UNVR's ice cream division accounted for approximately IDR 7.9 trillion in revenue, representing 20% of Unilever Indonesia's total sales in 2023. However, Euromonitor's findings suggest that this segment has experienced a decline in market share over recent years.

“We predict increased competition in the ice cream category going forward along with robust growth of the segment and UNVR's leading market share, which stood at 48% in 2023,” wrote JP Morgan analyst team.

According to data from Bisnis, Unilever Indonesia recorded revenue of IDR 38.61 trillion and a profit of IDR 4.80 trillion in 2023. These figures indicate a year-on-year decrease in both top and bottom lines.

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