Unilever 2001 Annual Report Download - page 21

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Unilever Annual Report & Accounts and Form 20-F 2001
>18
Latin America
2001 results compared with 2000 at
current exchange rates
€million million %
2001 2000 Change
Total turnover 6 605 5 680 16%
Total operating profit 329 345 (5)%
Group turnover 6 591 5 650 17%
Group operating profit 328 343 (4)%
2001 results compared with 2000 at
constant 2000 exchange rates
€million million %
2001 2000 Change
Total turnover 7 223 5 667 27%
Total operating profit BEIA 939 612 53%
Exceptional items (283) (173)
Amortisation of goodwill
and intangibles (307) (96)
Total operating profit 349 343 2%
Total operating margin 4.8% 6.1%
Total operating margin BEIA 13.0% 10.8%
Total sales moved ahead by 27% with an underlying sales
growth of 5%.
A key feature of the year has been our determination to
move prices to recover devaluation-driven cost increases and
so protect our margin structure.
Mexico sustained strong growth throughout the year.
The key drivers have been: Sedal, which reached an 8%
share in the hair care market in its first year since launch;
further progress in spreads, deodorants and skin care; and
a successful expansion of Holanda ice cream.
In Argentina, markets declined as consumer income
reduced, however, our market shares remain strong. In
Brazil, overall volumes were impacted by energy restrictions
and devaluation-related price increases but continuing
innovation in hair and deodorant delivered volume growth.
Total operating margin BEIA for the year at 13.0% is ahead
of last year reflecting the benefits of portfolio change,
global procurement, savings from Bestfoods’ integration
and improved ice cream profitability.
2000 results compared with 1999
million million million %
2000 at
2000 at constant 1999 Change at
current 1999 at 1999 constant
rates rates rates rates
Total turnover 5 680 4 976 4 358 14%
Total operating profit BEIA 614 536 433 24%
Exceptional items (173) (152) (44)
Amortisation of goodwill
and intangibles (96) (82) (6)
Total operating profit 345 302 383 (21)%
Total operating margin 6.1% 6.1% 8.8%
Total operating margin BEIA 10.8% 10.8% 9.9%
Sales growth for the year of 14% reflected a significant
contribution from Bestfoods and other acquisitions. There
were encouraging signs of growth in Brazil, while Mexico
continued to perform strongly. Recovery was slower in
Argentina and North Latin America.
In laundry, volume growth progressed during the year with
share gains in Brazil and Argentina. In personal care, brand
focus continued to deliver very good progress in Brazil.
In Foods, growth was spurred by an excellent performance
in our Mexican business in ice cream, spreads and culinary.
We also saw the first signs of recovery in our ice cream
operations in Brazil.
OPERATING REVIEW BY REGION
Total operating
profit BEIA million
Total turnover
million
At current exchange rates
Total operating
profit million
4 358
5 680
6 605
433
614
872
383
345
329
99
00
01
99
00
01
99
00
01