Unilever 2002 Annual Report Download - page 21

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Europe
2002 results compared with 2001 at
current exchange rates
€million million %
2002 2001 Change
Turnover 19 657 20 220 (3)%
Operating profit 1 772 2 710 (35)%
Group turnover 19 573 20 119 (3)%
Group operating profit 1 750 2 689 (35)%
2002 results compared with 2001 at
constant 2001 exchange rates
€million million %
2002 2001 Change
Turnover 19 700 20 220 (3)%
Operating profit BEIA 3 006 2 967 1%
Exceptional items (741) 254
Amortisation of goodwill
and intangibles (511) (511)
Operating profit 1 754 2 710 (35)%
Operating margin 8.9% 13.4%
Operating margin BEIA 15.3% 14.7%
Underlying sales grew 3% with a continuing significant
contribution from Central and Eastern Europe. Turnover was
3% lower than last year through the impact of disposals.
Operating margin BEIA increased by 0.6% to 15.3%.
This reflected the benefits from our savings programmes
including the integration of Bestfoods and strong growth in
ice cream profitability driven by mix improvements and cost
reductions. These gains were partly reinvested in additional
support for the leading brands.
Western Europe
In Foods, underlying sales grew by 3% including an
increasing contribution from UBF Foodsolutions, our food
service business. There has been sustained progress in
branded spreads and cooking products which grew 5%
due to the continuing impact of innovations, especially in
Flora/Becel which grew by over 10%. Savoury and dressings
grew 4% with marketplace activity behind Amora,
Hellmann’s, Bertolli, Knorr and Pot Noodle and the launches
of soup makers, chilled soups and Bertolli pasta sauces
towards the end of the year. Slim•Fast also grew well as we
continued its roll-out. Ice cream showed great resilience with
innovations such as Cornetto Soft and snack-size ice creams
helping to offset the impact of poorer weather than the
prior year to give growth of 1%.
In Home & Personal Care in Western Europe, good growth
in skin, deodorants and hair included particularly strong
performances through innovation and range extension
in Dove, Rexona and Axe. Laundry volumes grew by
4%, which was partly offset by pricing in a competitive
environment to give an underlying sales growth of 1%,
with market share being maintained.
Central and Eastern Europe
Underlying sales grew by 9% with particular strength in
dressings, tea, household care and personal care. We made
further good progress in Russia.
2001 results compared with 2000 at
current exchange rates
million million %
2001 2000 Change
Turnover 20 220 19 075 6%
Operating profit 2 710 1 711 58%
Group turnover 20 119 18 967 6%
Group operating profit 2 689 1 693 59%
2001 results compared with 2000 at
constant 2000 exchange rates
million million %
2001 2000 Change
Turnover 20 233 19 071 6%
Operating profit BEIA 2 978 2 419 23%
Exceptional items 270 (565)
Amortisation of goodwill
and intangibles (511) (143)
Operating profit 2 737 1 711 60%
Operating margin 13.5% 9.0%
Operating margin BEIA 14.7% 12.7%
Turnover was ahead in 2001 by 6% with an underlying
sales growth of 4%. Growth was broad based and included
astrong contribution from Central and Eastern Europe.
Operating profit
BEIA million
Tur nover
million
At current exchange rates
Operating profit
million
19 075
20 220
19 657
2 420
2 967
3 006
1 711
2 710
1 772
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01
02
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01
02
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Unilever Annual Report & Accounts and Form 20-F 2002Unilever Annual Report & Accounts and Form 20-F 2002
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