Unilever PH targets growth of over 5.6%

UNILEVER Philippines is aiming for revenue growth surpassing the country’s 5.6-percent gross domestic product (GDP) expansion in 2023, a top official said Monday.

The goal highlights the company’s position as one of Unilever’s top 10 global markets, Chairman and CEO Fredy S. Ong said.

Unilever Philippines intends to expand category growth, increase volumes, and enhance market share through data and digital transformation, he added.

“Our [target] growth has always been above GDP … We will continue to deliver high growth,” said Ong, adding that their latest sales figure will be released in April.

Expanding the business through market development enables the company to deliver products that remain relevant to every Filipino consumer, he added.

“We remain confident about our prospects for growth in the Philippines, and we intend to grow fast and grow responsibly,” Ong said.

As for its sustainable growth objectives, he said that Unilever was also restructuring its global sustainability agenda around four key pillars: climate, nature, plastics and livelihood.

Ong noted that Unilever products are present in 99 percent, or nearly every Filipino home, largely due to a widespread distribution network and retail collaborations.

The Philippines and Southeast Asia are a key regional driver for Unilever’s overall sales growth, he added.

Unilever Philippines, Ong claimed, has led to the creation of more than 15,000 jobs, facilitated by both forward and backward linkages.

Citing the results of a 2023 survey, Unilever also said it had been recognized as the number one fast-moving consumer goods (FMCG) supplier in the country.

Unilever Philippines inaugurated its latest beauty, well-being and personal care factory, located in General Trias, Cavite, last year.

The plant is expected to boost production and support growing demand in the Philippines and other export markets.