Unilever 2002 Annual Report Download - page 5

Download and view the complete annual report

Please find page 5 of the 2002 Unilever annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 156

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156

The Unilever Group
Unilever N.V. (NV) is a public limited company registered in
the Netherlands, which has listings of shares or certificates
(depositary receipts) of NV on the stock exchanges in
Amsterdam, London and New York and in France, Germany
and Switzerland.
Unilever PLC (PLC) is a public limited company registered
in England which has shares listed on the London Stock
Exchange and, as American Depositary Receipts, on the
New York Stock Exchange.
The two parent companies NV and PLC, together with
their group companies, operate as nearly as is practicable
as a single entity (the Unilever Group, also referred to as
Unilever or the Group). NV and PLC and their group
companies constitute a single group under Netherlands
and United Kingdom legislation for the purposes of
presenting consolidated accounts. Accordingly, the
accounts of the Unilever Group are presented by both
NV and PLC as their respective consolidated accounts.
Publications
This publication is produced in both Dutch and English and
comprises the full Annual Report and Accounts for 2002 of
NV and PLC. This document complies with the Netherlands
and the United Kingdom regulations. It also forms the NV
and PLC Annual Reports on Form 20-F to the Securities and
Exchange Commission in the United States for the year
ended 31 December 2002, and cross references to Form
20-F are set out on page 148. It is made available to all
shareholders who request or elect to receive it, and on the
website at www.unilever.com.
The separate publication, ‘Unilever Annual Review 2002’,
containing a Summary Financial Statement with figures
expressed in euros, with translations into pounds sterling
and US dollars, is also published in Dutch and English. It is
ashort form document that is prepared in accordance with
the United Kingdom regulations for Summary Financial
Statements. The Unilever Annual Review 2002 is mailed to
all registered shareholders and to other shareholders who
are either entitled or have asked to receive it, and is also
made available on the website at www.unilever.com.
Reporting currency and exchange rates
Details of key exchange rates used in preparation of these
accounts are given on page 117, together with Noon Buying
Rates in New York for the equivalent dates.
Abbreviations
Wherever used in this report, the abbreviation BEIA refers to
profit measures before exceptional items and amortisation
of goodwill and intangibles. Unilever believes that reporting
profit measures before exceptional items and amortisation
of goodwill and intangibles (BEIA) provides additional
information on underlying earnings trends to shareholders.
Unilever uses BEIA measures primarily for internal
performance analysis, performance targeting and incentive
awards. The term BEIA is not a defined term under
Netherlands, UK, or US Generally Accepted Accounting
Principles (GAAP), and may not therefore be comparable
with similarly titled profit measurements reported by other
companies. It is not intended to be a substitute for or
superior to GAAP measurements of profit.
is used in this report to denote amounts in euros.
£and pare used in this report to denote amounts in
pounds and pence sterling respectively.
Fl. is used in this report to denote amounts in Dutch
guilders.
$is used in this report to denote amounts in United States
dollars, except where specifically stated otherwise.
The brand names shown in italics in this report are trade
marks owned by or licensed to companies within the
Unilever Group.
Cautionary Statement
This Annual Report & Accounts and Form 20-F 2002 contains
forward-looking statements (within the meaning of the US
Private Securities Litigation Reform Act 1995) based on our
best current information and what we believe to be
reasonable assumptions about anticipated developments.
Words such as ‘expects’, ‘anticipates’, ‘intends’ and other
similar expressions are intended to identify such forward-
looking statements. Because of the risks and uncertainties
that always exist in any operating environment or business,
we cannot give any assurance that the expectations reflected
in these statements will prove correct. Actual results and
developments may differ materially depending upon,
among other factors, currency values, competitive pricing,
consumption levels, costs, environmental risks, physical risks,
risks related to the integration of acquisitions, legislative,
fiscal and regulatory developments and political and social
conditions in the economies and environments where Unilever
operates. You are cautioned not to place undue reliance on
these forward-looking statements.
Risks and uncertainties that could cause actual results to vary
from those described in our forward-looking statements
include those given under the sections entitled ‘About
Unilever‘ on pages 9 to 14, ‘Operating review‘ on pages 15
to 34, ‘Financial review‘ on pages 35 to 41, and ‘Risk
management‘ on pages 39 and 40, to which you should refer.
Unilever Annual Report & Accounts and Form 20-F 2002
2General information