Unilever 2006 Annual Report Download - page 129
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126 Unilever Annual Report and Accounts 2006
Financial Statements (continued)
Financial record (continued) Unilever Group
Financial record 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
1January 2004. Information for the period from 2002 to 2004 as reported under our previous accounting policies (which is not directly
comparable with IFRS) is set out below and on pages 127 and 128.
This information is derived from the audited consolidated accounts of the Unilever Group for the years 2002 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 IFRS. These were based on United Kingdom accounting standards and applicable Dutch 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
Consolidated profit and loss account 2004 2003 2002
Group turnover 40 169 42 693 48 270
Group operating profit 3411 5 483 5 007
After charging:
Exceptional items (1 595) (97) (707)
Amortisation of goodwill and intangible assets (1 086) (1 139) (1 245)
Income from fixed investments 117 68 111
Interest (689) (1 013) (1 065)
Profit on ordinary activities before taxation 2839 4 538 4 053
Profit on ordinary activities after taxation 2057 3 011 2 448
Net profit 1876 2762 2 136
Preference dividends (28) (27) (42)
Dividends on ordinary capital (1 815) (1 682) (1 659)
Result for the year retained 33 1 053 435
Combined earnings per share €0.64 €0.94 €0.71
Ordinary dividends
NV – euros per €0.16 of ordinary capital 0.6300 0.5800 0.5666
PLC – pounds per 31⁄9pof ordinary capital 0.4256 0.4018 0.3565
€million € million € million
Consolidated balance sheet 2004 2003 2002
Goodwill and intangible assets 15 338 17 713 20 274
Other fixed assets and investments 6473 6 854 8 115
Stocks 3758 4 175 4 500
Debtors 5703 5881 6 571
Total cash and current investments 2603 3 345 2 904
Total assets 33 875 37 968 42 364
Creditors due within one year (14 570) (17 074) (19 955)
Total assets less current liabilities 19 305 20 894 22 409
Creditors due after one year 7610 9 130 11 574
Provisions for liabilities and charges 5799 5 404 5 514
Total long-term liabilities 13 409 14 534 17 088
Minority interests 362 440 619
Capital and reserves 5534 5 920 4 702
Total capital employed 19 305 20 894 22 409