Mission Statement, Vision, & Core Values (2024) of Univar Solutions Inc. (UNVR).

An Overview of Univar Solutions Inc. (UNVR)

General Summary of Univar Solutions Inc. (UNVR)

Univar Solutions Inc. (UNVR) is a global chemical and ingredient distributor with a long-standing history in the industry. Founded in 1924, the company has grown through numerous acquisitions and strategic partnerships, establishing a significant presence across multiple sectors, including agriculture, food, personal care, and pharmaceuticals. Univar Solutions offers a wide range of products and services, including specialty chemicals, commodity chemicals, and value-added services such as formulation and logistics support.

As of 2024, Univar Solutions reported total sales of approximately $5.26 billion for the first half of the year, reflecting a decline from previous periods due to decreased demand and market challenges.

Company's Financial Performance in the Latest Financial Reports

In the latest financial reports for the second quarter of 2023, Univar Solutions experienced a significant decline in financial performance. The company reported total net sales of $1.70 billion, a decrease of 15.8% compared to the same quarter in 2022. For the six months ended June 30, 2023, total net sales were $3.45 billion, down 11.2% year-over-year.

The decline in revenue was primarily driven by lower demand across several sectors, leading to a reduction in gross profit, which decreased by 15.3% to $419.2 million for Q2 2023. Additionally, the Adjusted EBITDA fell to $156.5 million, marking a 21.2% decrease compared to the same period in 2022.

Introduction to Univar Solutions as an Industry Leader

Univar Solutions is recognized as one of the leading companies in the chemical distribution industry, leveraging its extensive product portfolio and global reach to serve various markets effectively. The company's commitment to innovation and customer service has positioned it favorably against competitors in the sector. Univar Solutions continues to adapt to market changes and customer needs, focusing on sustainability and efficient supply chain management to enhance its competitive edge.

To explore more about Univar Solutions' strategies and initiatives that contribute to its success, readers are encouraged to delve deeper into the company's operations and market positioning.

Mission Statement of Univar Solutions Inc. (UNVR)

Company's Mission Statement Overview

The mission statement of Univar Solutions Inc. (UNVR) serves as a guiding framework for the company's strategic direction and long-term objectives. It articulates the company's commitment to delivering high-quality products and services while emphasizing customer satisfaction and operational excellence.

Core Component 1: Customer Commitment

Univar Solutions emphasizes its commitment to understanding and fulfilling customer needs. This is evident in their strategy to deliver tailored solutions and exceptional service. In 2023, Univar reported net sales of $2,574.1 million for the second quarter, reflecting a decrease of 14.7% compared to the previous year, primarily due to lower demand. The company's focus on customer commitment is crucial for retaining clients and driving future growth.

Core Component 2: Operational Excellence

Operational excellence is a fundamental part of Univar's mission. The company strives to enhance efficiency and productivity in its operations. In the six months ended June 30, 2023, Univar's cost of goods sold was $3,994.9 million, a 9.9% decline from $4,433.7 million in the same period of 2022. This reduction in costs reflects Univar's efforts to optimize its supply chain and operational processes, thereby improving profitability.

Core Component 3: Sustainability and Innovation

Univar Solutions is dedicated to sustainability and innovation within the chemical distribution industry. The company invests in environmentally friendly practices and strives to meet evolving customer sustainability standards. In 2023, Univar's capital expenditures were projected to be approximately $155 million to $165 million, focusing on maintenance and growth, including safety and ESG investments. This commitment to sustainability is not only a response to market trends but also aligns with their long-term mission to provide innovative solutions.

Overall, Univar Solutions Inc.'s mission statement encapsulates its dedication to customer satisfaction, operational efficiency, and sustainable innovation, all of which are essential for its continued success in the competitive market landscape of 2024.

Vision Statement of Univar Solutions Inc. (UNVR)

Vision Statement Overview

The vision statement of Univar Solutions Inc. (UNVR) reflects its commitment to becoming the most valued partner for customers, suppliers, and employees by providing innovative solutions and unparalleled service in the distribution of chemicals and ingredients. This vision aims at enhancing operational efficiencies and driving sustainable growth.

Customer-Centric Approach

Univar Solutions emphasizes a customer-centric vision where it aims to build lasting relationships through quality service and tailored solutions. This customer focus is demonstrated by its strategic initiatives aimed at enhancing customer experience and satisfaction.

In 2023, the company reported a net sales figure of $2.574 billion for the second quarter, a decrease of 14.7% compared to the same period in 2022. This decline is primarily attributed to lower demand across various sectors.

Innovative Solutions

Innovation is a key component of Univar's vision. The company invests significantly in research and development to deliver cutting-edge solutions that meet evolving market needs. In the first half of 2023, Univar's capital expenditures amounted to $72.1 million, showcasing its commitment to growth and innovation.

Commitment to Sustainability

Univar Solutions is dedicated to sustainability, integrating environmental, social, and governance (ESG) principles into its operations. The company aims to reduce its carbon footprint and support customers in achieving their sustainability goals. As part of its commitment, Univar Solutions expects its 2023 capital expenditures to include investments in safety and ESG initiatives, estimated at $155 million to $165 million.

Employee Engagement and Culture

Univar's vision includes fostering an inclusive and engaging workplace culture. The company believes that empowered employees are vital to driving the business forward. In 2023, Univar reported a net income of $170.9 million for the first half of the year, reflecting the positive impact of its employee engagement strategies.

Global Reach and Operational Excellence

With operations spanning across four reportable segments—USA, EMEA, Canada, and LATAM—Univar Solutions is positioned to leverage its global footprint to deliver operational excellence. The company’s external sales by region for Q2 2023 were as follows:

This global presence allows Univar Solutions to respond swiftly to market demands and provide localized support to its customers.

Strategic Partnerships

Univar Solutions' vision encompasses forming strategic partnerships with suppliers to enhance its product offerings and service capabilities. These partnerships enable the company to expand its portfolio and provide specialized solutions to customers. Univar's gross profit for the second quarter of 2023 was $624.8 million, demonstrating the effectiveness of these partnerships.

Core Values of Univar Solutions Inc. (UNVR)

Integrity

The core value of integrity at Univar Solutions Inc. emphasizes transparency, honesty, and ethical behavior in all business dealings. This principle is fundamental to fostering trust with customers, suppliers, and employees.

In 2023, Univar Solutions implemented a comprehensive ethics training program for all employees, ensuring that they understand and adhere to the company's ethical standards. This program included a series of workshops and online courses that covered topics such as compliance, ethical decision-making, and reporting unethical behavior. As a result, the company reported a 95% completion rate among its workforce, reinforcing its commitment to integrity.

Customer Focus

Customer focus is a vital core value that drives Univar Solutions to prioritize the needs and expectations of its clients. The company aims to provide exceptional service and innovative solutions that address customer challenges.

In 2023, Univar Solutions introduced a new customer relationship management (CRM) system, which has improved customer engagement and satisfaction. The system allows for real-time tracking of customer interactions and feedback, leading to a reported 20% increase in customer satisfaction scores compared to the previous year. Additionally, the company launched a dedicated customer service initiative that resulted in a 15% reduction in response times to customer inquiries.

Innovation

Innovation at Univar Solutions is geared towards developing new products and solutions that meet the evolving needs of the market. This core value reflects the company's commitment to continuous improvement and adaptation.

In 2023, Univar Solutions invested approximately $15 million in research and development (R&D) to enhance its product offerings. The company successfully launched several new chemical formulations that cater to the growing demand for sustainable products. This innovation not only contributed to a 10% increase in revenue from new products but also positioned Univar as a leader in sustainable chemical solutions.

Collaboration

Collaboration is essential for Univar Solutions, promoting teamwork and partnerships both internally and externally. This value encourages a culture of mutual respect and shared success among employees and stakeholders.

The company has fostered collaboration through the establishment of cross-functional teams that work on specific projects. In 2023, Univar reported that these teams have led to a 25% improvement in project completion times. Furthermore, partnerships with suppliers have been strengthened, resulting in a 30% increase in joint product development initiatives, enhancing the overall value chain.

Sustainability

Sustainability is a guiding principle for Univar Solutions, reflecting its commitment to environmental stewardship and responsible business practices. The company aims to minimize its ecological footprint while delivering value to customers.

In 2023, Univar Solutions set ambitious sustainability targets, including reducing greenhouse gas emissions by 25% by 2025. As part of this initiative, the company invested in energy-efficient technologies across its operations, resulting in a 15% reduction in energy consumption in the first half of the year. Additionally, Univar has increased its portfolio of sustainable products, with over 40% of new product launches in 2023 focused on eco-friendly solutions.