Financial record
Financial record under IFRS
In the schedules below, figures within the income statement and for earnings per share reflect the classification between continuing and discontinued operations, which has applied for our reporting during 2006 and 2007. Figures for 2005 and 2004 also reflect this classification, and therefore differ from those originally published for those years.
| Consolidated income statement | € million 2007 |
€ million 2006 |
€ million 2005 |
€ million 2004 |
|---|---|---|---|---|
| Continuing operations: | ||||
| Turnover | 40 187 | 39 642 | 38 401 | 37 168 |
| Operating profit | 5 245 | 5 408 | 5 074 | 3 981 |
| Net finance costs | (252) | (721) | (613) | (623) |
| Income from non-current investments | 191 | 144 | 55 | 95 |
| Profit before taxation | 5 184 | 4 831 | 4 516 | 3 453 |
| Taxation | (1 128) | (1 146) | (1 181) | (725) |
| Net profit from continuing operations | 4 056 | 3 685 | 3 335 | 2 728 |
| Net profit from discontinued operations | 80 | 1 330 | 640 | 213 |
| Net profit | 4 136 | 5 015 | 3 975 | 2 941 |
| Attributable to: | ||||
| Minority interests | 248 | 270 | 209 | 186 |
| Shareholders' equity | 3 888 | 4 745 | 3 766 | 2 755 |
| Combined earning per share(a) | € 2007 |
€ 2006 |
€ 2005 |
€ 2004 |
|---|---|---|---|---|
| Continuing operations: | ||||
| Basic earnings per share | 1.32 | 1.19 | 1.07 | 0.87 |
| Diluted earnings per share | 1.28 | 1.15 | 1.04 | 0.84 |
| Total operations: | ||||
| Basic earnings per share | 1.35 | 1.65 | 1.29 | 0.94 |
| Diluted earnings per share | 1.31 | 1.60 | 1.25 | 0.91 |
| Consolidated balance sheet | € million 2007 |
€ million 2006 |
€ million 2005 |
€ million 2004 |
|---|---|---|---|---|
| Non-current assets | 27 374 | 27 571 | 28 358 | 26 368 |
| Current assets | 9 928 | 9 501 | 11 142 | 10 490 |
| Current liabilities | (13 559) | (13 884) | (15 394) | (14 186) |
| Total assets less current liabilities | 23 743 | 23 188 | 24 106 | 22 672 |
| Non-current liabilities | 10 924 | 11 516 | 15 341 | 15 043 |
| Shareholders' equity | 12 387 | 11 230 | 8 361 | 7 264 |
| Minority interests | 432 | 442 | 404 | 365 |
| Total equity | 12 819 | 11 672 | 8 765 | 7 629 |
| Total capital employed | 23 743 | 23 188 | 24 106 | 22 672 |
| Consolidated cash flow statement | € million 2007 |
€ million 2006 |
€ million 2005 |
€ million 2004 |
|---|---|---|---|---|
| Net cash flow from operating activities | 3 876 | 4 511 | 4 353 | 5 547 |
| Net cash flow from/(used in) investing activities | (623) | 1 155 | 515 | (120) |
| Net cash flow from/(used in) financing activities | (3 009) | (6 572) | (4 821) | (5 938) |
| Net increase/(decrease) in cash and cash equivalents | 244 | (906) | 47 | (511) |
| Cash and cash equivalents at the beginning of the year | 710 | 1 265 | 1 406 | 1 428 |
| Effect of foreign exchange rates | (53) | 351 | (188) | 489 |
| Cash and cash equivalents at the end of the year | 901 | 710 | 1 265 | 1 406 |
| Ratios and other metrics | 2007 | 2006 | 2005 | 2004 |
|---|---|---|---|---|
| Operating margin(%) | 13.1 | 13.6 | 13.2 | 10.7 |
| Net profit margin(%)(b) | 9.7 | 12.0 | 9.8 | 7.4 |
| Ungeared free cash flow(€ million)(c) | 3 769 | 4 222 | 4 011 | 5 346 |
| Return on invested capital(%)(d) | 12.7 | 14.6 | 12.5 | 10.7 |
| Ratio of earnings to fixed charges (times)(e) | 8.3 | 7.5 | 6.5 | 5.1 |
(a) For the basis of the calculations of combined earnings per share see note 7.
(b) Net profit margin is expressed as net profit attributable to shareholders' equity as a percentage of turnover from continuing operations.
(c) As defined in the Financial review.
(d) As defined in the Financial review.
(e) In the ratio of earnings to fixed charges, earnings consist of net profit from continuing operations excluding net profit or loss of joint ventures and associates increased by fixed charges, income taxes and dividends received from joint ventures and associates. Fixed charges consist of interest payable on debt and a portion of lease costs determined to be representative of interest. This ratio takes no account of interest receivable although Unilever's treasury operations involve both borrowing and depositing funds.
| By geographical area | € million 2007 |
€ million 2006 |
€ million 2005 |
€ million 2004 |
|---|---|---|---|---|
| Turnover | ||||
| Europe | 15 205 | 15 000 | 14 940 | 15 252 |
| The Americas | 13 442 | 13 779 | 13 179 | 12 296 |
| Asia Africa | 11 540 | 10 863 | 10 282 | 9 620 |
| 40 187 | 39 642 | 38 401 | 37 168 | |
| Operating profit | ||||
| Europe | 1 678 | 1 903 | 2 064 | 2 045 |
| The Americas | 1 971 | 2 178 | 1 719 | 896 |
| Asia Africa | 1 596 | 1 327 | 1 291 | 1 040 |
| 5 245 | 5 408 | 5 074 | 3 981 | |
| Total assets | ||||
| Europe | 14 703 | 14 489 | 15 164 | 15 586 |
| The Americas | 10 878 | 11 564 | 12 569 | 11 486 |
| Asia Africa | 6 291 | 5 884 | 6 320 | 4 369 |
| Corporate | 5 430 | 5 135 | 5 447 | 5 417 |
| 37 302 | 37 072 | 39 500 | 36 858 | |
| Capital expenditure | ||||
| Europe | 672 | 511 | 447 | 497 |
| The Americas | 342 | 396 | 305 | 297 |
| Asia Africa | 411 | 294 | 298 | 305 |
| 1 425 | 1 201 | 1 050 | 1 099 |
| By operation | € million 2007 |
€ million 2006 |
€ million 2005 |
€ million 2004 |
|---|---|---|---|---|
| Turnover | ||||
| Foods | 21 588 | 21 345 | 20 889 | 20 566 |
| Home and Personal Care | 18 599 | 18 297 | 17 512 | 16 602 |
| 40 187 | 39 642 | 38 401 | 37 168 | |
| Operating profit | ||||
| Foods | 2 868 | 2 893 | 2 635 | 1 850 |
| Home and Personal Care | 2 377 | 2 515 | 2 439 | 2 131 |
| 5 245 | 5 408 | 5 074 | 3 981 | |
| Total assets | ||||
| Foods | 24 381 | 24 973 | 26 798 | 25 382 |
| Home and Personal Care | 7 491 | 6 964 | 7 255 | 6 059 |
| Corporate | 5 430 | 5 135 | 5 447 | 5 417 |
| 37 302 | 37 072 | 39 500 | 36 858 | |
| Capital expenditure | ||||
| Foods | 801 | 714 | 572 | 588 |
| Home and Personal Care | 624 | 487 | 478 | 511 |
| 1 425 | 1 201 | 1 050 | 1 099 |
