Unilever Nigeria Plc has reaffirmed its commitment to sustainable growth and long-term success, despite the challenges in the business environment. 

The assurance was made by the Chairman of the Board of Directors, Mobolaji Balogun, during the company’s 100th Annual General Meeting (AGM) in Lagos.

He added that as Unilever Nigeria embarks on its next phase of growth, the company remains dedicated to sustainable practices and innovation. “The management is confident in its ability to navigate challenges and capitalize on opportunities, ensuring long-term success.”

Just as shareholders approved a dividend payment of N1.25 kobo per share for the financial year ended December 31, 2024. The dividend will be paid on Monday,  May 12, 2025.

Commenting  on the issue of sourcing local materials, the managing director, Oluwatobi Adeniyi explained that the company has made significant strides in local sourcing, with over 50% of its materials procured locally.

According to Oluwatobi Adeniyi, this approach has reduced foreign exchange exposure and supported local industry development, backed by the company’s research and development expertise.

Meanwhile, Unilever Nigeria Plc has published its first quarter result for the period ended March 31, 2025, showed a solid performance with earnings per share of N0.97, up from N0.58 in first quarter of  2024.

The company’s unaudited revenue grew by 45.4% year on year, driven by significant expansions in the Food Products, Personal Care, and Beauty & Wellbeing segments.

Highlights of the financial results shows that revenue surged by 45.4% year on year, due to volume growth from deeper market penetration and modest price increases to cushion rising input costs.

Analysis of the company market segments shows that the Food Products segment grew by 51.3% year on year, contributing 58.6% to total revenue, while Personal Care and Beauty & Wellbeing segments expanded by 29.6% and 76.4% year on year, respectively.

Gross margin declined by 165 basis points year on year to 40.1%, pressured by a 49.5% rise in cost of sales, while EBITDA and EBIT margins expanded by 575 basis points and 571 basis points year on year to 19.3% and 17.6%, respectively.

Profit before tax jumped by 146.7% year-over-year to N10.75 billion, while profit after tax rose to N5.55 billion, despite a higher effective tax rate of 48.4%.

Market analyst’s noted  that the performance highlights the resilience of Unilever Nigeria  operating model, driven by strategic market penetration and modest pricing.