Unilever continues to make money in Russia and doubled its net profit in 2022
The company's ice cream, tea, cosmetics and household chemicals production sites remain in Russia
Unilever Russia, which represents the interests of the British-Dutch concern Unilever in Russia, increased its advertising spending by 10.5% in 2022.
According to its reports, last year, 21.7 billion rubles were spent on advertising, compared to 19.7 billion rubles in 2021, Finmarket reports.
The company's net profit in 2022 increased 1.9 times, to RUB 9.2 billion from RUB 4.8 billion, respectively.
According to the explanatory notes to the financial statements, the company "plans to sell its stake in Gourmet LLC in May 2023, the exact amount of the transaction cannot be determined at the time of reporting."
According to the Unified State Register, the company owns 100% of this company.
As reported, Gourmet (Tula Region) was registered in 2021 as part of the deal to sell the Calve (in Russia and the CIS) and Baltimore (worldwide) sauces brands to Unilever's KDV.
As the company's press service told Interfax at the time, it "was created for the operational management of the target assets and will be transferred to KDV in accordance with the terms of the agreement."
Unilever is one of the world's leading food and household goods companies, operating in more than 100 countries, including Russia, where it entered the market in 1992.
After the beginning of the Russian invasion of Ukraine, Unilever sold its sauces business in Russia, but it retained ice cream production sites in Tula region and Omsk, tea, cosmetics and household chemicals production in St. Petersburg, and cosmetics in Yekaterinburg.
Background. As a reminder, Unilever plans to invest €20 million in a new factory near Kyiv.
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