Unilever 2005 Annual Report Download - page 153

Unilever Annual Report and Accounts 2005 153
Financial Statements
Historical information (continued)
Unilever Group
Historical information as reported under previous GAAP
Unilever adopted International Financial Reporting Standards as adopted by the EU with effect from 1 January 2005, with a transition date of
1 January 2004. As required by IFRS 1 ‘First Time Adoption of International Financial Reporting Standards’, comparative information has been
presented on an IFRSs basis for 2004. Profits and balance sheets for years prior to 2004 have not been restated onto an IFRSs basis. Apart from
the information reported on page 155 on a US GAAP basis, we therefore do not consider it appropriate to present historical information for
a five-year period. Information for the period from 2001 to 2004 as reported under our previous accounting policies (which is not directly
comparable with IFRSs) is set out below and on pages 154 and 155.
For further information regarding the impact of the adoption of IFRSs on Unilever’s reported profit and equity, please refer to note 35 on
pages 144 to 151.
The financial data below and on pages 154 and 155 show information derived from the audited consolidated accounts of the Unilever Group
for the years 2001 to 2004, and should be read in the context of those accounts and notes. Those accounts were prepared under the
accounting policies which the Group applied prior to its adoption of IFRSs. These were based on United Kingdom accounting standards and
applicable Netherlands and UK law. Further information can be found in the ‘Accounting information and policies’ sections of the
Report and Accounts for the years in question.
The adoption, in 2003, of UK Financial Reporting Standard 17 on pensions accounting was reflected by restating the consolidated profit and
loss accounts for the years ended and the balance sheets as at 31 December 2002 and 31 December 2001.
€ million € million € million € million
Consolidated profit and loss account 2004 2003 2002 2001
Group turnover 40 169 42 693 48 270 51 514
Group operating profit 3 411 5 483 5 007 4 946
After charging:
Exceptional items (1 595) (97) (707) (579)
Amortisation of goodwill and intangible assets (1 086) (1 139) (1 245) (1 387)
Income from fixed investments 117 68 111 96
Interest (689) (1 013) (1 065) (1 604)
Profit on ordinary activities before taxation 2 839 4 538 4 053 3 438
Profit on ordinary activities after taxation 2 057 3 011 2 448 1 919
Net profit 1 876 2 762 2 136 1 680
Preference dividends (28) (27) (42) (51)
Dividends on ordinary capital (1 815) (1 682) (1 659) (1 530)
Result for the year retained 33 1 053 435 99
Combined earnings per share(c)
Euros per €0.51 of ordinary capital 1.92 2.82 2.14 1.66
Euro cents per 1.4p of ordinary capital 28.78 42.33 32.16 24.86
Ordinary dividends
NV – euros per €0.51 of ordinary capital 1.89 1.74 1.70 1.56
PLC – pence per 1.4p of ordinary capital 19.15 18.08 16.04 14.54
€ million € million € million € million
Consolidated balance sheet 2004 2003 2002 2001
Goodwill and intangible assets 15 338 17 713 20 274 24 964
Other fixed assets and investments 6 473 6 854 8 115 10 124
Stocks 3 758 4 175 4 500 5 343
Debtors 5 703 5 881 6 571 8 024
Total cash and current investments 2 603 3 345 2 904 2 214
Total assets 33 875 37 968 42 364 50 669
Creditors due within one year (14 570) (17 074) (19 955) (23 125)
Total assets less current liabilities 19 305 20 894 22 409 27 544
Creditors due after one year 7 610 9 130 11 574 15 026
Provisions for liabilities and charges 5 799 5 404 5 514 3 411
Total long-term liabilities 13 409 14 534 17 088 18 437
Minority interests 362 440 619 670
Capital and reserves 5 534 5 920 4 702 8 437
Total capital employed 19 305 20 894 22 409 27 544