Unilever Nigeria Releases Annual Report For 2020, Records Loss Of N3.97 Billion

Unilever Nigeria Plc, one of the 20 most valuable companies on the Nigerian Stock Exchange released its full-year audited results for the year 2020.

Revenue for the year was N61.96 billion, a 2.4 percent increase from the N60.49 recorded in 2019. The cost of sales went down 11.8 percent from N55.74 billion to N49.16 billion. 

Total loss after tax was N3.97 billion, and marketing and administrative expenses totaled N12.4 billion, a 6.7 percent drop from the N10.1 billion incurred in 2019.

The capital employed was N62.13 billion, compared to N62.5 billion in 2019.

Loss before tax was N4.59 billion over 50 percent lower than the previous year's loss of N9.75 billion. The operating loss stands at N6.1 billion, less than the N11.76 lost in 2019.

Unilever dividend for the year 2021.

Unilever is yet to account for its dividend plan. According to the report which was endorsed by the company's chairman, His Majesty, N.A. Achebe, the company has N63.98 billion worth of current assets and N27.54 worth of non-current assets. This brings its total assets to N91.52 billion, more than total liabilities of N29.39 billion.

The company didn't announce new products, it, however, announced the progress on projects aligned with their Unilever Sustainable Living Plan, which works as a blueprint for creating value for people in its immediate environment, in relation to Sustainable Development Goals (SDGs), the Nigeria Stock Exchange Sustainability Disclosure Guidelines (NSE-SDGs), and the United Nations Global Compact (UNGC). These projects include empowering women in communities with funding and products to establish and rebuild businesses, the Knorr feeding program which provided cooked meals to 40,000 people in 5 LGAs in Lagos State for 60 days, and the provision of recycling stations. The company also donated COVID test-kits to Kaduna, Ekiti, and Imo States and provided over 3,000 units of sanitizer to schools in the FCT.

About Unilever Nigeria

Unilever Nigeria is focused on manufacturing consumer products primarily in the categories of home, personal care, and food. Some of the company's popular products include Close-Up and Pepsodent toothpastes, Lifebuoy and LUX soaps, Vaseline and Rexona body care products, Lipton tea, Knorr and Royco seasoning cubes, OMO multi-active and Sunlight detergents and cleaning agents, and Pears baby products. The company officially changed its name to Unilever Nigeria Plc in 2021, before that, it was known as Lever Brothers Limited. Unilever Nigeria, which was incorporated in 1923 and has its headquarters in Lagos, is a subsidiary of Unilever Overseas Holdings B.V company.

 Unilever Nigeria  Stock price

Unilever Nigeria Stoc price is N13.40, the stock symbol is UNILEVER:LAG. Its 52 weeks high is 17.05.  Unilever’s market cap is N76.98 billion