Thursday, October 22, 2020

Unilever helps customers, suppliers during pandemic with €500m cash flow relief

Unilever is offering €500 million of cash flow relief across its extended value chain to help support customers and suppliers during the Covid-19 outbreak.

This will be achieved through early payments for the food and consumer goods giant’s most vulnerable and small-scale retail customers to help them manage and protect jobs.

It will also facilitate early payment for its most vulnerable small and medium sized suppliers to help them with financial liquidity.

Moreover, the relief will extend credit to selected small-scale retail customers whose business relies on Unilever, to help them manage and protect jobs.

The relief for customers and suppliers is part of wider measures to support global and national efforts to tackle the pandemic. These actions extend to its multiple stakeholders and also include its consumers and communities and workforce.

Included among these actions is a €100 million donation of soap, sanitiser and food.

Alan Jope, CEO Unilever said: “We are deeply saddened by the terrible impact that coronavirus is wreaking on lives and livelihoods everywhere. The world is facing its greatest trial in decades.

“We have seen the most incredible response from the Unilever team so far, especially those on the front line of our operations in factories, distribution centres and stores.

“We hope that our donation of €100m of soap, sanitiser, bleach and food will make a significant contribution towards protecting people’s lives, and that by helping to safeguard our workers’ incomes and jobs, we are giving some peace of mind during these uncertain times.

“Our strong cash flow and balance sheet mean that we can, and should, give this additional support.”

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