Less than a month ago, Unilever announced its plan to lay off every third office employee in Europe. By the end of 2025, as many as 3.2 thousand people will lose their jobs in Europe. people. It is not known to what extent the layoffs will apply to Poland. Therefore, we look at the condition of the company in our country.
What does Unilever Polska do?
Since November 2008, the activities of Unilever Polska SA have included the provision of production services for finished products using entrusted materials. The company's assets include factories in Poznań, Banin and Bydgoszcz. The owner of raw materials, packaging and finished products is the Dutch company Unilever Europe BV, also responsible for warehouse management and logistics.
A food giant is preparing to sell its ice cream empire
On March 19, 2024, Unilever PLC announced plans to spin off its ice cream business as a separate, stand-alone business and introduce a productivity program aimed at faster growth and higher margins for the group. The management board of the company in Poland states that in its opinion this has no impact on the company's continued operations for the next 12 months.
How much does Unilever earn in Poland?
Unilever Polska SA ended 2023 with a net profit of PLN 55 million compared to PLN 70 million in 2022. The company generated positive cash flows from operating activities in the amount of PLN 154 million. Cash flows from investing activities were negative and amounted to PLN 154 million. In 2023, the company recorded an increase in turnover by 15%. And what results do individual branches generate?
Unilever Poznań recorded a significant decrease in volume in 2023 compared to 2022 (-11%). The company explains this with price increases, which resulted in a noticeable decline in consumer purchases.
The largest decline in volume concerned the production of dressings (-13%), dry products (-13%) and wet soups (-8%).
The company notes that the only exception to this trend was the production of mayonnaise, which recorded a slight increase (6%) due to the fact that production took place on a new and more efficient line. Despite an overall decline in production volume, revenues from the factory's core operations increased by 12% in 2023 compared to the previous year.
Unilever Banino – the production volume of this unit is 56.8 million liters, which means a decrease of 12% in 2023 compared to the previous year. It results from lower demand for the factory's products by final recipients and a low level of pre-production for the next year. The factory budget amounted to EUR 29.5 million, i.e. 33% more compared to 2022. Despite the overall decline in production volume, revenues from the factory's core activities increased by 19% compared to the previous year.
Unilever Bydgoszcz recorded a slight decrease in production in 2023 (-1%) compared to the previous year. This is mainly related to the change in the product range and the production of smaller products (stick deodorants). The changes in individual categories were as follows: 9% decrease in the toilet blocks category, 2% decrease in the hair care products category, 1% increase in the body care products category.
Despite a slight decline in production volume, revenues from the factory's core operations increased by 15% compared to the previous year.
In 2023, Unilever Polska SA achieved a sales profit of PLN 50 million compared to PLN 62 million in 2022. Profitability on sales was 9% in 2023 and decreased compared to 2022, when it was 12%. The rate of return on assets was 4% in 2023 and decreased compared to 2022, when it was 5%. The rate of return on equity was 4% in 2023, while in 2022 it was 5%.
In 2023, the company financed its operations primarily with its own funds. The equity coverage ratio of fixed assets reached 106% in 2023, while in 2022 it amounted to 116%. The total debt ratio in 2023 was 14% compared to 15% in 2022.
In 2023 and 2022, individual financial liquidity indicators were at the following level:
– turnover of trade receivables – 52 days in 2023 and 76 days in 2022
– rotation of trade and service liabilities – 14 days in 2023 and 22 days in 2022
– liquidity ratio I (current) – 1.78 in 2023 and 2.33 in 2022
In 2023, the company invested PLN 239 million in new fixed assets.
Unilever Polska SA employed 1,785 people in 2023 compared to 1,710 in 2022.
Meanwhile, Unilever Polska sp. z o. o. achieved net profit for 2023 of PLN 86.1 million. In 2022, net profit amounted to PLN 17.9 million. Net profitability was 4.3% in 2023 compared to 1.0% in 2022.
Unilever is one of the world's leading suppliers of Beauty & Wellbeing, Personal Care, Home Care, Nutrition and Ice Cream products, selling in 190 countries, reaching 3.4 billion consumers daily. It employs 127 thousand. employees.
The company has been present in Poland since 1991, when it opened a cosmetics factory in Bydgoszcz.
