Unilever Philippines, the subsidiary of multinational consumer goods company Unilever, said it is targeting to grow its revenues by at least 5.6 percent this year.
“Our growth has always been above (the) GDP (growth rate of the Philippines). That’s what I can commit to you,” Fredy S. Ong, Unilever Philippines chairman and CEO, told reporters at a briefing in Taguig City on Monday. “We will continue to deliver high growth.”
Ong said the financial performance of the company will be released in April.
He noted that Unilever Philippines’ revenues will be driven by its “core brands,” such as Sunsilk, Cream Silk, Knorr, and Selecta.
“What we intend to do is to invest heavily in our core brands. That’s the first thing that we plan to do.”
Ong also said the company is banking on its innovation initiatives to boost growth. “We plan to scale up all the innovation plans…that’s available in different countries, but we want to pick those that are relevant to the market. So innovations, new products, innovations, new products. It’s something that will help grow the category and hopefully upgrade people to premium portfolio.”
Unilever is one of the biggest fast-moving consumer goods (FMCG) firms in the country, with category positions in nutrition, beauty and wellbeing, personal care, ice cream and home care.
Calling these five categories “Unilever Compass Organization,” Ong said this is an operating model organized around the five business groups or categories which will help in driving the consumer goods firm’s growth.
The company spent some P4.8 billion on the construction of a personal care factory in General Trias, Cavite. Its commercial operations kicked off last year. Ong said this facility is expected to increase its production capacity by 15 percent.
The Board of Investments said last December 2022 that the new facility will use the advanced 4th industrial revolution lighthouse which is also being used in other Unilever global facilities.
The General Trias facility is projected to have an annual capacity of 88,000 tons of personal-care products.
Meanwhile, Ong said the Philippines is Unilever’s “fastest growing and second biggest” personal care business in Southeast Asia. Among the brands in this portfolio are Dove, Rexona, Axe, Close-up, Lifebuoy and Pepsodent.
The Nutrition Philippines business unit, he noted, is a “strong category leader in Scratch Cooking Aids and Dressings.”
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