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Annual Reports and Accounts of the Unilever Group 2017 (The “ARA 2017”), Including the Auditors' Reports Contained Therein

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Annual Reports and Accounts of the Unilever Group 2017 (The “ARA 2017”), Including the Auditors' Reports Contained Therein DISCLAIMER This is a PDF version of the Annual Report on Form 20-F 2017 and is an exact copy of the document filed with the SEC at www.sec.gov. Certain sections of the Annual Report on Form 20-F 2017 have been audited. These are on pages 86 to 145 and the Guarantor Statements on pages 170 to 174. The maintenance and integrity of the Unilever website is the responsibility of the Directors; the work carried out by the auditors does not involve consideration of these matters. Accordingly, the auditors accept no responsibility for any changes that may have occurred to the financial statements since they were initially placed on the website. Legislation in the United Kingdom and the Netherlands governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Except where you are a shareholder, this material is provided for information purposes only and is not, in particular, intended to confer any legal rights on you. This Annual Report on Form 20-F does not constitute an invitation to invest in Unilever shares. Any decisions you make in reliance on this information are solely your responsibility. The information is given as of the dates specified, is not updated, and any forward-looking statements are made subject to the reservations specified in the cautionary statement on the inside back cover of the Annual Report on Form 20-F 2017. Unilever accepts no responsibility for any information on other websites that may be accessed from this site by hyperlinks. MAKING SUSTAINABLE LIVING COMMONPLACE ANNUAL REPORT ON FORM 20-F 2017 ANNUAL REPORT ON CONTENTS FORM 20-F 2017 Strategic Report..........................................................................1 This document is made up of the Strategic Report, the Governance About us..............................................................................................1 Report, the Financial Statements and Notes, and Additional Chairman’s statement .......................................................................2 Information for US Listing Purposes. Board of Directors..............................................................................3 The Unilever Group consists of Unilever N.V. (NV) and Unilever PLC Chief Executive Officer’s review ........................................................4 (PLC) together with the companies they control. The terms “Unilever”, Unilever Leadership Executive (ULE)................................................5 the “Group”, “we”, “our” and “us” refer to the Unilever Group. Our performance................................................................................6 Our Strategic Report, pages 1 to 33, contains information about us, how we create value and how we run our business. It includes Financial performance ...................................................................6 our strategy, business model, market outlook and key performance Unilever Sustainable Living Plan ...................................................7 indicators, as well as our approach to sustainability and risk. The A changing world ...............................................................................8 Strategic Report is only part of the Annual Report and Accounts Our value creation model ..................................................................9 2017. The Strategic Report has been approved by the Boards and signed on their behalf by Ritva Sotamaa – Group Secretary. Our strategy......................................................................................10 Our Governance Report, pages 34 to 76 contains detailed Delivering long-term value for our stakeholders...........................11 corporate governance information, our Committee reports Our consumers .............................................................................11 and how we remunerate our Directors. Society and environment ..............................................................13 Our Financial Statements and Notes are on pages 77 to 155. Sustainable Development Goals……………………………………………….15 Pages 1 to 157 constitute the Unilever Annual Report and Accounts Our people.....................................................................................16 2017 for UK and Dutch purposes, which we may also refer to as Our partners..................................................................................17 ‘this Annual Report and Accounts’ throughout this document. Our shareholders..........................................................................18 The Directors’ Report of PLC on pages 34 to 46, 77 (Statement Financial Review ..............................................................................19 of Directors’ responsibilities), 108 (Dividends on ordinary capital), Risks .................................................................................................26 121 to 126 (Treasury Risk Management), 145 (branch disclosure) and 151 and 155 (Post balance sheet event) has been approved Governance Report....................................................................34 by the PLC Board and signed on its behalf by Ritva Sotamaa – Corporate Governance..................................................................34 Group Secretary. Report of the Audit Committee ....................................................41 The Strategic Report, together with the Governance Report, Report of the Corporate Responsibility Committee ....................43 constitutes the report of the Directors within the meaning of Report of the Nominating and Section 2:391 of the Dutch Civil Code and has been approved Corporate Governance Committee ..............................................45 by the NV Board and signed on its behalf by Ritva Sotamaa – Group Secretary. Directors’ Remuneration Report .................................................47 Pages 158 to 179 are included as Additional Information for Financial Statements.................................................................77 US Listing Purposes. Statement of Directors’ responsibilities......................................77 Independent auditors’ reports .....................................................78 ONLINE Consolidated financial statements ..............................................86 You can find more information about Unilever online at Consolidated income statement ..................................................86 Consolidated statement of comprehensive income....................86 www.unilever.com Consolidated statement of changes in equity .............................87 For further information on the Unilever Sustainable Living Plan Consolidated balance sheet .........................................................88 (USLP) visit Consolidated cash flow statement...............................................89 Notes to the consolidated financial statements..........................90 www.unilever.com/sustainable-living Shareholder Information ...............................................................156 The Annual Report on Form 20-F 2017 along with other relevant Index ...............................................................................................157 documents can be downloaded at Additional Information for US Listing Purposes ......................158 www.unilever.com/ara2017/downloads ABOUT US AT A GLANCE OUR PURPOSE UNILEVER IS ONE OF THE WORLD’S LEADING CONSUMER UNILEVER HAS A CLEAR PURPOSE – TO MAKE SUSTAINABLE GOODS COMPANIES, MAKING AND SELLING AROUND 400 LIVING COMMONPLACE. WE BELIEVE THIS IS THE BEST WAY BRANDS IN MORE THAN 190 COUNTRIES. TO DELIVER LONG-TERM SUSTAINABLE GROWTH. Every day, 2.5 billion people use our products to feel good, look good As the pace of change accelerates in our markets, we are creating and get more out of life. Our range of world-leading, household-name a stronger, simpler and more agile business. These changes will brands includes Lipton, Knorr, Dove, Axe, Hellmann’s and Omo. Thirteen help us to deliver our Purpose and our Vision to grow our business, of the world’s top 50 brands are owned by Unilever, up from twelve the whilst decoupling our environmental footprint from our growth and previous year, with our nearest competitor owning just five, according increasing our positive social impact. to Kantar’s brand footprint report in May 2017. However volatile and uncertain the world becomes, Unilever’s Purpose In 2017 we had 13 billion euro brands. In addition our portfolio also and Vision will remain because we believe that managing for the includes trusted and iconic local brands designed to meet the specific long term is the best way for us to grow. We are well placed to deliver needs of consumers in their home market such as Bango long-term value through our strategy, category strategies and the in Indonesia, Pureit in India and Suave in the United States. Our Unilever Sustainable Living Plan (USLP), launched in 2010. These are geographic reach gives us an unparalleled global presence, supported by a transformational change agenda which combines our including a unique position in emerging markets which generate own actions with a stakeholder approach to external advocacy and 58% of our turnover. public policy. Our scale and reach mean we are well placed to capture the economic opportunities presented by the United Nations During 2017, Unilever operated across four categories. The largest Sustainable Development Goals (SDGs). Find out more about how we was Personal Care, followed by Foods, Home Care and Refreshment. are creating
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