Industry: Unilever Côte d’Ivoire greatly mitigates its loss in 2020

After a record loss of 21.857 billion FCFA in 2019, Unilever Côte d’Ivoire SA, a subsidiary of Unilever Overseas Holdings Limited and specialized in the production and marketing of consumer products (toothpaste, soap, Lipton tea, mayonnaise) strongly mitigated this loss by achieving a net deficit of 3.690 billion FCFA at the end of the 2020 financial year.

The financial situation of Unilever Côte d’Ivoire was bleak. Its equity showed cumulative losses over several years with a loss carryforward of CFAF 32.599 billion and negative equity of CFAF 21.964 billion under the last approved accounts. This situation had also prompted the managers of the company to proceed from July 26 to August 26, 2019, with a capital increase for an amount of 45.917 billion FCFA.

The financial statements closed on December 31, 2029 show a sharp drop in turnover of 30% with an achievement which stood at CFAF 39.693 billion against CFAF 56.379 billion in 2019. This underperformance is caused by ancillary products. which fell sharply from 3.246 billion to 50.975 million FCFA against 3.297 billion FCFA in 2019.

On the expense side, the item Purchases of raw materials and related supplies recorded a decrease of 13 billion FCFA to 11.145 billion against 24.019 billion in 2019. Other purchases for their part increased from 326 million to 3.371 billion FCFA against 3.045 billion. FCFA at the end of 2019. The Transport item was reduced by 182 million, dropping from 1.668 billion FCFA in 2019 to 1.486 billion FCFA in 2020. The same observation is made concerning external services which went from 12.608 billion FCFA in 2019 to 8.125 billion. billion FCFA a year later (-4.483 billion).

As for other charges, we note an increase of CFAF 1.047 billion to 4.174 billion against 3.127 billion at December 31, 2019. During the period under review, the added value was boosted by 118% to 735 million against 337 million previously. As far as they are concerned, personnel costs fell by 24% with an achievement of 7.309 billion FCFA against 9.635 billion FCFA in 2019.

The gross operating surplus fell from a deficit of 9.298 billion FCFA to -6.573 billion FCFA at the end of the year under review. The observation is to be made concerning the operating result which goes from a deficit of 16.285 billion FCFA in 2019 to another of 8.426 billion FCFA in 2020.

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