Reducing Activities: company scaling back some business operations while continuing others

Stay Scaling Back

Unilever is a British multinational consumer goods company. Unilever products include food, condiments, ice cream, wellbeing vitamins, minerals and supplements, tea, coffee, breakfast cereal, cleaning agents, water and air purifiers, pet food, toothpaste, beauty products, and personal care.

Reducing Activities: company scaling back some business operations while continuing others

Stay Scaling Back

Top 100 largest companies in Russia by revenue

Top 100
Revenue(RF), mln.USD
728
Assets(RF), mln.USD
775
Capital(RF), mln.USD
455
Glob.Revenue, mln.USD
64503
Plants
8
Staff(RF), 2021
2873
Taxes(RF), mln.USD
331

Unilever owns 8 large Russian enterprises, including a margarine factory in Moscow, a sauce factory, a tea-packing factory and a perfume and cosmetics factory in St. Petersburg, a food factory and an ice cream factory in Tula, as well as ice cream factories in Novosibirsk and Omsk. British firm producing Magnum and Cornetto is STILL selling ice creams in Russia despite their invasion of Ukraine. Unilever will let Russia employees be conscripted. "After looking at the situation in detail, it is clear that the containment actions we have taken minimise Unilever’s economic contribution to the Russian state." "However, I understand why there are calls for our company to leave the country and we continue to look at our options, within a context that has become more complex following recent regulatory developments in Russia." - Hein Schumacher. The rights to some of the Unilever brands in the Russian Federation, including Clean Line and Inmarko, were transferred to Unilever Rus LLC.

The Company Statement
October 26, 2023

The company promised to suspend all imports and exports of its products into and out of Russia, and to stop all media and advertising spendings. Unilever also promised not to invest any further capital into the country nor to get profit from its presence in Russia. Unilever "will continue to supply essential food and hygiene products made in Russia to people in the country". Unilever flags risk it may have to halt Russia operations. As we see in 2023 - the company didn't met it promises, as its local entity in Russia (Unilever Rus LLC or ООО "Юнилевер Русь", tax id 7705183476) generated almost the same volume of local revenue in 2022 (RUB 84.9bn) vs RUB 86bn in 2021 or just 2% less. At the same time, its net profit increased from RUB 4.9bn to RUB 9.2bn or +91%! Also, due to this significant volume of profit, it was able to increase the local capital to RUB 34.5bn in 2022 from RUB 25.3bn in 2021 or +37%. It means that in fact the company reinvested the profit which is equal to investment of the new capital in the country. Moreover, the company will be obliged to pay profit tax (in addition to VAT, taxes from salary and other taxes) and indirectly support Russia's war machine in such a way. Unilever Rus LLC also paid the equivalent of $331mn of taxes in 2021 (and minimum the same amount in 2022 based on their financials). The NACP added Unilever to the list of “International Sponsors of War”. Decreased revenue in 2023 vs 2022.

May 16, 2024Unilever to keep making ice cream in Russian as country left out of spin-off plan
May 02, 2024Unilever still earning millions in royalties from Russian subsidiary: report
March 19, 2024Unilever will cut 7,500 jobs and spin off its ice cream business
March 13, 2024The rights to some of the Unilever brands in the Russian Federation, including Clean Line and Inmarko, were transferred to Unilever Rus LLC
March 07, 2024The Minister of Defense gave a directive to end the sale of the products still available in Russia under the administration
December 30, 2023Unilever faces calls to disclose Russian tax payments amid backlash over refusal to exit
October 30, 2023New Unilever boss is still getting it wrong on Russia
October 26, 2023International war sponsor Unilever continues business in Russia
October 06, 2023Unilever has submitted applications to Rospatent to rename some brands into Russian language
October 05, 2023BT Group, Carlsberg, Burger King, Unilever, Shell, Procter & Gamble, Pepsi, L’Oreal: Who is still in Russia?
September 14, 2023Never Can Say Goodbye. Despite Corporate Boycotts, Western Luxury Brands Are Still for Sale in Russia
September 05, 2023Here comes Russia’s corporate hit list
August 15, 2023Unilever's CEO pledges to reexamine Russia presence following backlash
August 14, 2023Ukraine war veteran attacks Unilever
August 12, 2023Unilever boss promises Ukrainian soldier he will reassess Russian business with ‘fresh eyes’
August 07, 2023We are delivering a message from bombed out Borodyanka, Ukraine to Unilever ’s boardroom: Stop helping fund Russia’s war in Ukraine.
August 07, 2023FT estimated damage to European companies since the beginning of the conflict in Ukraine at €100 billion
August 07, 2023FT: The largest European companies have lost 100 billion euros in Russia since the beginning of the war in Ukraine
August 06, 2023European companies suffer €100bn hit from Russia operations
July 23, 2023Unilever will let Russia employees be conscripted
July 05, 2023Unilever: Cornetto maker defends decision to stay in Russia - BBC News
July 03, 2023The NACP adds the owner of Domestos, Lipton, Rexona and Dove — Unilever to the list of “International Sponsors of War”
July 03, 2023Unilever - International sponsor of war | War and sanctions
May 15, 2023Letter sent by B4Ukraine to the company (no response provided)
May 12, 2023Unilever doubles profits in Russia but says it has not broken previous promises
May 12, 2023Follow the Money: Unilever breaks promises: profit in Russia has doubled, advertising costs have increased
April 25, 2023British-Dutch Unilever doubled its profits in Russia by 2022
February 14, 2023Unilever defends decision to remain in Russia, but says position is under 'close review'
February 12, 2023For Fear or Money, Consumer Giants Are Staying in Russia
February 09, 2023Unilever flags risk it may have to halt Russia operations
February 09, 2023Unilever refuses to stop selling products in Russia despite championing ‘social purpose’
February 09, 2023Unilever warned of the risk of termination of activities in Russia
January 17, 2023Just one more excuse: Unilever boss tries to justify continuing to sell Cornettos in Russia
March 08, 2022Updated Unilever statement on the war in Ukraine
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Company statements and statistical data are collected from open sources and official registers according to the methodology of the KSE Institute.
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