Unilever 2005 Annual Report Download - page 18

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Unilever Annual Report and Accounts 2005 15
Report of the Directors
Financial and operating reviews
General information 04
Chairman’s foreword 05
Group Chief Executive 06
About Unilever 09
Financial review 15
Non-GAAP measures 16
Basis of reporting and discussion 20
International Financial Reporting Standards 20
Turnover definition 20
Critical accounting policies 20
Reporting currency and exchange rates 21
Results for 2005 compared with 2004 22
Acquisitions and disposals 22
Dividends and market capitalisation 23
Balance sheet 23
Off-balance sheet arrangements 24
Cash flow 24
Share buy-back 24
Finance and liquidity 24
Treasury 24
Pensions investment strategy 25
Total Shareholder Return 25
Significant changes after the balance sheet date 25
Operating review by region 26
Europe 26
The Americas 27
Asia Africa 28
Operating review by category 29
Foods 29
Home and Personal Care 30
Risk management 31
Corporate governance 33
Reports of Board committees 51