DOCSLIB.ORG

Unilever Annual Report and Accounts 2019

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Unilever Annual Report and Accounts 2019 Disclaimer This is a PDF version of the Annual Report on Form 20-F 2019 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 2018 have been audited. These are on pages 87 to 142 and the Guarantor Statements on pages 173 to 178. 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 2019. Unilever accepts no responsibility for any information on other websites that may be accessed from this site by hyperlinks. Purpose-led, future-fit Annual Report on Form 20-F 2019 Annual Report on Form 20-F 2019 In this report This document is made up of the Strategic Report, the Governance Report, the Financial Statements and Notes, and Additional Strategic Report Information for US Listing Purposes. How our strategy is delivering value for our stakeholders The Unilever Group consists of Unilever N.V. (NV) and Unilever PLC (PLC) together with the companies they control. The terms “Unilever”, At a glance 2 the “Group”, “we”, “our” and “us” refer to the Unilever Group. Chairman's introduction 4 Our Strategic Report, pages 1 to 46, contains information about us, Our Board of Directors 5 how we create value and how we run our business. It includes our strategy, business model, market outlook and key performance Chief Executive Officer's Q&A 6 indicators, as well as our approach to sustainability and risk. The Unilever Leadership Executive 7 Strategic Report is only part of the Annual Report and Accounts 2019. Our strategy The Strategic Report has been approved by the Boards and signed on their behalf by Ritva Sotamaa – Group Secretary. Our fast-changing world 8 Our Governance Report, pages 47 to 77 contains detailed corporate Our strategy 9 governance information, our Committee reports and how we Our value creation model 10 remunerate our Directors. Our stakeholders Our Financial Statements and Notes are on pages 78 to 142. Stakeholder review: 12 Pages 1 to 162 constitute the Unilever Annual Report and Accounts 2019 for UK and Dutch purposes, which we may also refer to as – Consumers 14 ‘this Annual Report and Accounts’ throughout this document. – Our People 16 The Directors’ Report of PLC on pages 47 to 59, 78 (Statement of – Society 18 Directors’ responsibilities), 108 (Dividends on ordinary capital), 121 to 127 (Treasury Risk Management), 148 and 152 (Post balance sheet – Planet 19 events) and 160 (Branch disclosure) has been approved by the PLC – Customers 20 Board and signed on its behalf by Ritva Sotamaa – Group Secretary. – Shareholders 21 The Strategic Report, together with the Governance Report, Our performance 22 constitutes the report of the Directors within the meaning of Article 2:391 of the Dutch Civil Code and has been approved by the NV Board Financial review 24 and signed on its behalf by Ritva Sotamaa – Group Secretary. Our risks 33 Pages 163 to 178 are included as Additional Information for Non-financial information statement 46 US Listing Purposes. Governance Report Online How we’re running a responsible and effective business You can find more information about Unilever Corporate Governance 47 online at Report of the Audit Committee 54 www.unilever.com Report of the Corporate Responsibility Committee 56 For further information on our sustainability activities and Report of the Nominating and Corporate Governance performance visit Committee 58 www.unilever.com/sustainable-living Directors’ Remuneration report 60 The Annual Report on Form 20-F 2019 along with other Financial Statements relevant documents can be downloaded at Our full financial results and notes for the year www.unilever.com/ara2019/downloads Statement of directors’ responsibilities 78 Independent auditors’ report 79 Financial statements 87 Notes to the consolidated financial statements 91 Group companies 153 Shareholder information 161 Index 162 Additional information for US listing purposes 163 Purpose-driven performance One in three people around the world use our brands every day. With this reach comes responsibility – and opportunity. That’s why we've made it our purpose to make sustainable living commonplace. To help people live well within the limits of the planet. This isn’t just something we say – it steers our decisions and shapes our actions, at every level of the business. Our focus on purpose goes back to the days of one of our founders, William Lever, well over 100 years ago. It’s part of Unilever history, and it’s integral to our future. This is why we want all our brands to take a stand, and act, on the big social and environmental issues facing the world. We believe we’ll be a better and more successful business by following this path. To truly make sustainable living commonplace, we have to be fit for the future. This means anticipating the significant changes which are shaping our industry. Becoming fully digitised, lower cost, faster acting and more agile. Using our scale and influence to create positive change well beyond Unilever. Expanding into high-growth markets with superior products that are good for both people and the planet. And continuing to attract the very best people into a diverse, inclusive and flexible working culture. Purpose-led, future-fit At a glance As one of the world’s largest and oldest consumer goods businesses, we’re on a mission to make sustainable living commonplace. A truly global business Strong brands with purpose Our brands are available in over 190 countries. Our 400+ household brands help people feel good, look good and get more out of life. A growing 2.5 portfolio 12 brands billion of brands people use our with purpose with turnover of more products every day than €1 billion in the year 13 of the 60% 25 top 50 84% million of brands in top 1 or 2 retail sales FMCG brands* market positions outlets in our of turnover in distribution chain emerging markets Read more about our brands and consumers on pages 14 to 15. Using our scale for good Powered by our people We have ambitious time-bound sustainability Our purposeful and inclusive culture attracts goals which are delivering significant impact. and keeps the very best. 150 51/49 1.3 62% gender balance thousand in management billion employees (female/male)** people helped to improve their health of agricultural and hygiene since 2010 raw materials sustainably sourced Number 1 90% FMCG graduate % of our leaders employer of choice 100 are local in 52 markets renewable grid electricity in 5 continents Read more about our people on pages 16 to 17. * Based on market penetration and consumer interactions (Kantar Brand Footprint report). Read more about society and the planet on pages 18 to 19. ** Based on a total management population of 15,028 Unilever employees. 2 Annual Report on Form 20-F 2019 Strategic Report Financial highlights What we stand for: Making sustainable living commonplace. €52.0 billion turnover What we offer: Beauty & Personal Care, Foods & Refreshment, €6.1 billion Home Care free cash flow* Read more about our brands and consumers on pages 14 to 15. €4.2 billion dividends paid 19.1% underlying operating margin* 16.8% operating margin Beauty & Personal Care What we stand for: Beauty that cares for people, society and our planet. €21.9 billion turnover Our largest categories: Deodorants, Haircare, Skin care, Skin cleansing 42% of total turnover A selection of our brands: Axe, Clear, Dove, Lifebuoy, Lux, Pond's, Rexona, Signal, Suave, Sunsilk, TRESemmé, Vaseline 52% of total operating profit Foods & Refreshment What we stand for: Taste good. Feel good. Force for good. €19.3 billion turnover Our largest categories: Ice cream, Savoury, Dressings, Tea 37% of total turnover A selection of our brands: Ben & Jerry’s, Breyers, Brooke Bond, Heart (Wall’s), Hellmann’s, Knorr, Lipton, Magnum, Pukka, % of total operating profit Sir Kensington’s, Unilever Food Solutions 32 Home Care What we stand for: Making your home a better world. turnover Making our world a better home. €10.8 billion Our largest categories: Fabric solutions, Home and hygiene 21% of total turnover A selection of our brands: Cif, Dirt is Good (Omo, Persil), Domestos, Seventh % of total operating profit Generation, Sunlight 16 Read more about our Divisions on pages 14 to 15. * Free cash flow and underlying operating margin are non-GAAP measures. For further information about these measures, and the reasons why we believe they are important for an understanding of the performance of the business, please refer to our commentary on non-GAAP measures on page 27. Annual Report on Form 20-F 2019 3 Chairman's introduction Our new Chairman reflects on a year of positive value creation, changes to the Board and the steps being taken to accelerate growth in 2020 and beyond.
Load more

Recommended publications
  • Using Replicated Ledger to Reduce Swift Costs
    WHITE PAPER USING REPLICATED LEDGER TO REDUCE SWIFT COSTS Abstract Nientibus et harum la aliquos que dunt harunte nat qui assimin ctincti nimoloratur? Quis sin enim expello rescitis aliberiosam, sumendu cienimil es ab in pelibus antiunt, eatur sit volorec tetur, occus asi suntiss imporer eperis dolupta que quid quatis mo volorit quas maio. Im acest, eos si beat. Ur? Nonseque reribus. Itatium re, nissi nullupietur audis sit adis con non corrum fugias eosae nones nonsenimus Itate esto moluptatur autatis sinctota dolent labo. Sum autem reriossum eos acerestectur rem que et haribus vel etur Introduction This paper proposes an approach to build a payment product that could be deployed across units of same bank or banks which have correspondent relationships, to reduce SWIFT message costs and to conserve liquidity by reducing need for Settlement and Nostro accounts. The paper proposes an outline of a product that implements a replicated, single wrapper around existing ledgers of such bank units to enable quick, irrevocable, tamper-proof approach to managing electronic payments between correspondent bank units. Existing ledgers of the bank would not be replaced or disturbed. Instead a wrapper application would be deployed that tracks specific entries in the ledger and replicates the changes to all members. This enables each member bank to see the same ledger at the same time and also be guaranteed of its accuracy. For this purpose, it is recommended the product be built using Blockchain for established and proven security. Such a replicated ledger would reduce active, recurring costs of using SWIFT network to pass payment messages. This will also reduce the much larger passive cost of holding funds in a non- remunerative settlement a/c with the correspondent bank.
    [Show full text]
  • The Limits of Arbitrage: Evidence from Dual-Listed Companies
    The Limits of Arbitrage: Evidence from Dual-Listed Companies Abe de Jong Erasmus University Rotterdam [email protected] Leonard Rosenthal Bentley College [email protected] Mathijs A. van Dijk Erasmus University Rotterdam [email protected] May 2003 Correspondence Mathijs A. van Dijk Department of Financial Management (Room F4-21) Erasmus University Rotterdam PO Box 1738 3000 DR Rotterdam THE NETHERLANDS Phone: +31 10 408 2748 Fax : +31 10 408 9017 The Limits of Arbitrage: Evidence from Dual-Listed Companies Abstract We study the limits of arbitrage in international equity markets by examining a sample of dual-listed companies (DLCs). DLCs are the result of a merger in which both companies remain incorporated independently. DLCs have structured corporate agreements that allocate current and future equity cash flows to the shareholders of the parent companies according to a fixed ratio. This implies that in integrated and efficient financial markets, the stock prices of the parent companies will move together perfectly. Therefore, DLCs offer a unique opportunity to study market efficiency and the roles of noise traders and arbitrageurs in equity markets. We examine all 13 known DLCs that currently exist or have existed. We show that for all DLCs large deviations from the theoretical price ratio occur. The difference between the relative price of a DLC and the theoretical ratio is often larger than 10 percent in absolute value and occasionally reaches levels of 20 to 50 percent. Moreover, deviations from parity vary considerably over time for all DLCs. We find that return differentials between the DLC parent companies can to a large extent be attributed to co-movement with domestic stock market indices, consistent with Froot and Dabora (1999).
    [Show full text]
  • Hsbc to Acquire Lloyds Banking Group Onshore Assets in the Uae
    Ab c 29 March 2012 HSBC TO ACQUIRE LLOYDS BANKING GROUP ONSHORE ASSETS IN THE UAE HSBC Bank Middle East Ltd (‘HSBC’), an indirect wholly-owned subsidiary of HSBC Holdings plc, has entered into an agreement to acquire the onshore retail and commercial banking business of Lloyds Banking Group (‘Lloyds’) in the United Arab Emirates (‘UAE’). The value of the gross assets being acquired is US$769m as at 31 December 2011. The transaction, which is subject to regulatory approvals, is expected to complete in 2012. HSBC’s largest operations in the MENA region are based in the UAE where HSBC enjoys a market-leading trade and commercial banking presence, in addition to the largest international retail banking and wealth management business. The business being acquired from Lloyds has approximately 8,800 personal and commercial customers and a loan book of approximately US$573m as at 31 December 2011. Commenting on the acquisition, Simon Cooper, Deputy Chairman and Chief Executive Officer of HSBC in MENA, said: “HSBC is the leading international bank in the UAE and the addition of Lloyds’ strong presence in retail and commercial banking is highly complementary to our business. The acquisition underscores the strategic importance of the UAE, and of the MENA region as a whole, to HSBC.” Media enquiries to: Tim Harrison + 971 4 4235632 [email protected] Brendan McNamara +44 (0) 20 7991 0655 [email protected] ends/more Registered Office and Group Head Office: This news release is issued by 8 Canada Square, London E14 5HQ, United Kingdom Web: www.hsbc.com HSBC Holdings plc Incorporated in England with limited liability.
    [Show full text]
  • Makes the Cut 10 Favorite Fall Recipes
    MUSTARD makes the cut 10 Favorite Fall Recipes SPONSORED BY mustard-and-salt-crusted rib roast with roasted vegetables and horseradish-mustard cream A coating of mustard gives this roast a flavorful, browned crust. Serves 6 1 4-rib (8- to 9-lb.) standing 2/3 cup crème fraîche offset spatula, spread 1/2 cup of Meanwhile, in a small bowl, beef rib-eye roast, bones 2 Tbs. drained jarred the mustard on the roast, creat- combine the crème fraîche, removed and tied back on horseradish (this can be done by your ing a thin, even layer. Pat on the horseradish, the remaining 2 Tbs. butcher and makes the roast 2 Tbs. chopped fresh flat-leaf salt and pepper mixture, being mustard, and the parsley, and easier to slice) parsley; more for serving especially generous on the top of season to taste with salt and Kosher salt roast and using the palm of your pepper. Keep refrigerated until Position a rack in the center of 3 Tbs. flaky sea salt hand to encourage the seasoning serving. the oven and heat the oven to 2 Tbs. coarsely cracked black to adhere to the sides. Scatter 450°F. peppercorns the carrots, shallots, and leeks Remove the roast from the 1/2 cup plus 2 Tbs. Maille Rich around the roast, and drizzle oven and cut the strings from Remove the roast from the Country Dijon mustard with olive oil. Toss the vegetables the bones. Let the roast rest refrigerator, pat dry with paper 6 medium carrots, peeled and to coat and season with salt and for 15 minutes before slicing.
    [Show full text]
  • DSM's Integrated Annual Report 2015
    Royal DSM Integrated Annual Report 2015 WorldReginfo - c41a4efa-17eb-497c-8f68-03022dabfb88 WorldReginfo - c41a4efa-17eb-497c-8f68-03022dabfb88 DSM at a glance Nutrition DSM Resins & Functional Materials is a global player in developing, manufacturing and marketing high-quality resins The Nutrition cluster comprises DSM Nutritional Products and solutions for paints, industrial coatings and fiber-optic coatings. DSM Food Specialties.These businesses serve the global Continuous innovation means that customers can meet industries for animal feed, food and beverage, pharmaceutical, regulatory needs and respond better to consumer demands for infant nutrition, dietary supplements and personal care. more sustainable materials. DSM Nutritional Products is one of the world’s leading Innovation Center producers of essential nutrients such as vitamins, carotenoids, nutritional lipids and other ingredients to the feed, food, DSM Innovation Center serves as an enabler and accelerator pharmaceutical and personal care industries. Among its of innovation within DSM as well as providing support to the customers are the world’s largest food and beverage clusters. With its Emerging Business Areas, the Business companies. DSM is uniquely positioned thanks to the Incubator and DSM Venturing & Licensing, the DSM Innovation combination of its broad portfolio of active ingredients, maximum Center has a general business development role, focusing on differentiation through formulation, local presence, a global areas outside the current scope of the business groups. premix network, and a strong focus on innovation. DSM Nutritional Products consists of the following business units: DSM’s Emerging Business Areas provide strong long-term growth platforms based on the company’s core competences Animal Nutrition & Health addresses the nutritional additives in life sciences and materials sciences.
    [Show full text]
  • Royal DSM N.V. Annual Report 2006
    Royal DSM N.V. Annual Report 2006 Brighter Wider Better Together DSM Profile DSM is active worldwide in nutritional and pharma ingredients, performance materials and industrial chemicals. The company develops, produces and sells innovative products and services that help improve the quality of life. DSM’s products are used in a wide range of end-markets and applications, such as human and animal nutrition and health, personal care, pharmaceuticals, automotive and transport, coatings and paint, housing and electrics & electronics (E&E). DSM’s strategy, named Vision 2010 – Building on Strengths, focuses on accelerating profitable and innovative growth of the company’s specialties portfolio. The key drivers of this strategy are market-driven growth and innovation plus an increased presence in emerging economies. The group has annual sales of over €8 billion and employs some 22,000 people worldwide. DSM ranks among the global leaders in many of its fields. The company is headquartered in the Netherlands, with locations in Europe, Asia, Africa, Australia and the Americas. More information about DSM can be found at www.dsm.com. Annual Report 2005 www.dsm.com DSM at a glance DSM’s activities have been grouped into business groups representing coherent product / market combinations. The business group directors report directly to the Managing Board. Nutrition Pharma €2,407m €916m DSM Nutritional Products DSM Pharmaceutical Products DSM Nutritional Products is the world’s largest supplier of nutri- DSM Pharmaceutical Products is one of the world’s leading tional ingredients, such as vitamins, carotenoids (anti-oxidants providers of high quality global custom manufacturing services and pigments), other biochemicals and fine chemicals, and to the pharmaceutical, biotech and agrochemical industries.
    [Show full text]
  • Propriedade Produtor Especie Municipio
    PROPRIEDADE PRODUTOR ESPECIE MUNICIPIO NRO_PROCESSO FAZENDA IBICUI-RINCAO DE SAO MIGUEL ARSENIO SIMOES DA SILVEIRA GALINHA ALEGRETE FAZENDA PINHEIRO-ANDRE SCHMITZ ANDRE MACHADO SCHMITZ GALINHA ALEGRETE GRANJA SANTA CATARINA-JACAQUA JEFFERSON SEVERO ALVES GALINHA ALEGRETE CRIATORIO NOSSA SENHORA DA CONCEICAO LUIS FELIPE GUEDES DE MELLO GALINHA ALEGRETE IFF-ALEGRETE INSTITUTO FEDERAL FARROUPILHA** GALINHA ALEGRETE IFF-ALEGRETE INSTITUTO FEDERAL FARROUPILHA** CODORNAS ALEGRETE FLORINDO SCARABOTTO FLORINDO SCARABOTTO GALINHA ALTO FELIZ 005556-18.02/19-4 SEDENIR BAMPI E OUTROS SEDENIR BAMPI E OUTROS GALINHA ALTO FELIZ 004776/15.00/15-0 HILARIO GRIEBLER HILARIO GRIEBELER GALINHA ALTO FELIZ 005098-16.10/57-1 DANILO GRIEBLER DANILO GRIEBLER GALINHA ALTO FELIZ 005099-16.10/58-1 JACINTO JUNGBLUT JACINTO JUNGBLUT PERU ALTO FELIZ 009373/15.00/13-0 JACINTO JUNGBLUT PAULO LUIZ JUNGBLUT PERU ALTO FELIZ 009373/15.00/13-0 CLETO ANTONIO FROZI CLETO ANTONIO FROZI PERU ALTO FELIZ 016567-15.00/13-0 LOTARIO FRANCISCO RACH LOTARIO FRANCISCO RACH GALINHA ALTO FELIZ 000813/15.00/15-0 REMI JOTZ REMI JOTZ PERU ALTO FELIZ 009395/15.00/13-9 MANOEL JOAO WERNER MANOEL JOAO WERNER GALINHA ALTO FELIZ 007508-15.00/13-2 ALFEU FERNANDO KUHN ALFEU FERNANDO KUHN PERU ALTO FELIZ 009319/15.00/13-5 ALFEU FERNANDO KUHN DARCI WILHELM PERU ALTO FELIZ 009319/15.00/13-5 CARMO JOSE GRIEBLER CARMO JOSE GRIEBLER GALINHA ALTO FELIZ 000816-15.00/15-9 GRANJA NIENOW LTDA GRANJA NIENOW LTDA GALINHA ALTO FELIZ 006135/18.11/07-4 CLETO ANTONIO FROZI CLETO ANTONIO FROZI GALINHA ALTO FELIZ 020993/15.00/15-6
    [Show full text]
  • FTSE Factsheet
    FTSE COMPANY REPORT Share price analysis relative to sector and index performance Data as at: 27 March 2020 Brand Architekts Group BAR Personal Goods — GBP 1.2 at close 27 March 2020 Absolute Relative to FTSE UK All-Share Sector Relative to FTSE UK All-Share Index PERFORMANCE 21-Apr-2015 1D WTD MTD YTD Absolute - - - - Rel.Sector - - - - Rel.Market - - - - VALUATION Data unavailable Trailing PE 8.1 EV/EBITDA 7.5 PB 1.1 PCF 3.8 Div Yield 3.9 Price/Sales 1.5 Net Debt/Equity 0.1 Div Payout 31.4 ROE 13.5 DESCRIPTION Data unavailable The principal activities of the is a market leader in the development, formulation, and supply of personal care and beauty products. See final page and http://www.londonstockexchange.com/prices-and-markets/stocks/services-stock/ftse-note.htm for further details. Past performance is no guarantee of future results. Please see the final page for important legal disclosures. 1 of 4 FTSE COMPANY REPORT: Brand Architekts Group 27 March 2020 Valuation Metrics Price to Earnings (PE) EV to EBITDA Price to Book (PB) 28-Feb-2020 28-Feb-2020 28-Feb-2020 80 25 6 70 5 20 60 4 50 15 +1SD +1SD +1SD 40 3 10 Avg 30 Avg Avg 2 20 5 -1SD 1 -1SD 10 -1SD 0 0 0 Mar-2015 Mar-2016 Mar-2017 Mar-2018 Mar-2019 Mar-2015 Mar-2016 Mar-2017 Mar-2018 Mar-2019 Mar-2015 Mar-2016 Mar-2017 Mar-2018 Mar-2019 PZ Cussons 29.7 Watches of Switzerland Group 14.6 Watches of Switzerland Group 10.3 Burberry Group 20.0 Unilever 11.2 Unilever 8.7 Personal Goods 19.5 Personal Goods 11.1 Personal Goods 7.9 Unilever 19.1 Burberry Group 10.7 Burberry Group 4.7 Brand
    [Show full text]
  • Red Wines Glass / Bottle / Flight
    Red Wines Glass / Bottle / Flight 201/401/501 Altavilla Della Corte, Cabernet Sauvignon, Sicilia 10 / 35 / 2.75 Deep and intense ruby red color with purplish rim. The nose is totally seduced by the captivating scents of cherry, blueberries and rhubarb, enveloped by warm hints of dark chocolate, juniper and tobacco. 202/402/502 Montepuliciano “Dama”, Marramiero, Abruzzo 10 / 35 / 2.75 Its color is ruby red intense with some dark red nuances, it has a good olfactory persistence tending to licorice flavor. It is rich and harmonious on the palate. It can be served with everything, but it links perfectly with roasted and stewed meat, with salami, ham and cheese. 203/403/503 Tinazzi, Corvina, Verona 12 / 36 / 3.00 Spice and dried fig notes lace the sun-dried black cherry and grilled herb flavors in this chewy, medium- bodied red. Drink now. A very good accompaniment to all types of meat, both grilled and braised and with medium mature cheese. 204/404/504 Zabu,` Nero D’Avola, Terre Siciliane 10 / 35 / 2.75 Intense. Aromatic. Round. The nose is bursting with red cherries and berry fruit, supported by floral notes, completed by a warm and long-lasting finish. 205/405/505 Super Tuscan “Caburnio”, Tenuta Monteti, Toscana 13 / 40 / 3.00 Supple and structured, this delicious red offers scents of Mediterranean scrub, mint, blue flowers and ripe berries. Made with 55% Cabernet Sauvignon, 25% Merlot and 20% Alicante, the juicy palate delivers Morello cherry, cassis, mocha and wild aromatic herb notes. Supple tannins carry the savory flavors. 207/407/506 Torrevento Nero Di Troia, Torre Del Falco, Puglia 9/30/2.75 Wine made in the Apulia hills in the nord of Bari.
    [Show full text]
  • Unilever Annual Report 1994
    Annual Review 1994 And Summary Financial Statement English Version in Childers Unilever Contents Directors’ Report Summary Financial Statement 1 Financial Highlights 33 Introduction 2 Chairmen’s Statement 33 Dividends 4 Business Overview 33 Statement from the Auditors 12 Review of Operations 34 Summary Consolidated Accounts 26 Financial Review 29 Organisation 36 Additional Information 30 Directors & Advisory Directors Financial Highlights 1994 1993 % Change % Change at constant atwrrent a* cOnSt.3nf exchange rates exchange rates exchange rates Results (Fl. million) Turnover 82 590 83 641 77 626 6 8 Operating profit 7 012 7 107 5 397 30 32 Operating profit before excepttonal items 7 294 6 763 6 8 Exceptional items (187) (1 366) Profit on ordinary activities before taxation 6 634 6 700 5 367 24 25 Net profit 4 339 4 362 3 612 20 21 Net profit before exceptional items 4 372 4 406 4 271 -~mpy~21 E Key ratios Operating margin before exceptional items (%) 8.7 8.7 Net profit margin before exceptional items (%) 5.3 5.5 Return on capital employed (%) 16.7 15.7 Net gearing (%) 22.7 24.8 Net interest cover (times) 12.2 12.8 Combined earnings per share Guilders per Fl. 4 of ordinary capital 15.52 12.90 20 Pence per 5p of ordinary capital 83.59 69.45 20 Ordinary dividends Guilders per Fl. 4 of ordinary capital 6.19 5.88 5 Pence per 5p of ordinary capital 26.81 25.03 7 Fluctuations in exchange rates can have a significant effect on Unilever’s reported results.
    [Show full text]
  • HUL Announces Key Appointments 26­07­2013
    HUL announces key appointments 26­07­2013 26­07­2013 : Mr Nitin Paranjpe, currently the Managing Director and Chief Executive Officer of HUL will be joining the Unilever Leadership Executive (ULE), taking on the role of President, Home Care. Mr. Sanjiv Mehta, currently Chairman, North Africa & Middle East (NAME), Unilever, has been appointed as the Managing Director and Chief Executive Officer of the Company in place of Mr. Nitin Paranjpe with effect from October 1, 2013. The appointment has been approved by the Board of Directors of HUL and will be subject to approval of the company’s shareholders. He will also be responsible for South Asia cluster which includes India, Pakistan, Sri Lanka, Bangladesh and Nepal. Mr Harish Manwani, Chairman, HUL, said, “The changes reflect our strong commitment towards leadership development and our tradition of leveraging experiences and synergies of talent across markets. I wish to take the opportunity to express my deep appreciation for the significant contribution that Nitin made to the business in India and his leadership in driving the growth agenda. I would like to congratulate him on his richly deserved elevation to the ULE.” “I am pleased to welcome Sanjiv to his new role. Sanjiv brings with him rich experience of successfully leading businesses across developing and emerging markets. I am confident that he will further build on the growth momentum and drive the company’s agenda of competitive, consistent, profitable and responsible growth.” About Hindustan Unilever Limited Hindustan Unilever Limited (HUL) is India's largest Fast Moving Consumer Goods company touching the lives of two out of three Indians.
    [Show full text]
  • Unilever Annual Accounts 1999
    Unilever Annual Accounts 1999 This booklet and the separate booklet ‘Unilever Annual Review 1999’ together comprise the full Annual Report and Accounts for 1999 of Unilever N.V. (NV) and Unilever PLC (PLC) when expressed in guilders and pounds sterling respectively. Contents Annual Accounts Additional Financial Information General information 2 Principal group companies Five year record 51 Statements of directors’ responsibilities 4 and fixed investments 41 Additional information for Corporate governance 5 NV company accounts and further United States investors 54 Report of the auditors 6 statutory information 44 Publications 56 Accounting policies 7 PLC company accounts, further statutory Web site 56 information and other information 47 Unilever Group consolidated accounts 9 – Consolidated profit and loss account and Statement of total recognised gains and losses 9 – Consolidated balance sheet 10 – Consolidated cash flow statement 11 – Notes to the consolidated accounts 12 Directors’ remuneration and interests 32 Contact details Rotterdam New York Unilever N.V. Unilever United States, Inc. Corporate Relations Department Corporate Relations Department Weena 455, PO Box 760 390 Park Avenue, New York 3000 DK Rotterdam NY 10022-4698 Telephone +31 (0)10 217 4848 Telephone +1 212 906 4240 Telefax +31 (0)10 217 4587 Telefax +1 212 906 4666 e-mail corporate.relations-rotterdam e-mail corporate.relations-newyork @unilever.com @unilever.com London Unilever Web site: Unilever PLC www.unilever.com Corporate Relations Department PO Box 68, Unilever House Blackfriars, London EC4P 4BQ Telephone +44 (0)20 7822 5794 Telefax +44 (0)20 7822 6907 e-mail corporate.relations-london @unilever.com 2 Unilever Annual Accounts 1999 General information Unilever The two parent companies, NV and PLC, operate as nearly Each of NV and PLC has always paid its own dividends and, as is practicable as a single entity (the Unilever Group, also therefore, neither company has ever been called upon to referred to as Unilever or the Group).
    [Show full text]