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Unilever announces risk of business termination in Russia

It is noted that the company employs over 3,000 people in Russia and in 2022 the business contributed 1.4% of the Group’s turnover and 2% of the Group’s net profit

LONDON, February 9. /TASS/. Unilever, a UK-based global leader in fast moving consumer goods production, announces the risk of business termination in Russia in its annual report released on Thursday.

"We will continue to review and disclose the financial implications from the conflict. While the potential impacts remain uncertain, there is a risk that the operations in Russia are unable to continue, leading to loss of turnover, profit and a write-down of assets," the company said.

"'We employ over 3,000 people in Russia and in 2022 the business contributed 1.4% of the Group’s turnover and 2% of the Group’s net profit. As at 31 December 2022, we had an asset position of around €900 million in Russia, including four factories," Unilever noted. "In March 2022, we announced our decision to suspend all imports and exports of Unilever products into and out of Russia and cease any capital flows in and out of the country," according to the report.

The company has not changed its position in respect of operations in Russia, the Unilever’s press service in the country said. Unilever factories in Omsk, Yekaterinburg, St. Petersburg and Tula continue working and offices keep operations in the country, supporting presence of brands in points of sale. The priority remains to ensure high quality and availability of its goods for Russian consumers, the company added.

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