Unilever 2003 Annual Report Download - page 45
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42 Unilever Annual Report & Accounts and Form 20-F 2003
Operating review by category – Home & Personal Care
Home care (continued)
2002 results compared with 2001 € million € million € million € million % %
Exchange Change at Change at
2002 at rate 2002 at 2001 at actual constant
2001 rates effects 2002 rates 2001 rates current rates 2001 rates
Group turnover 9 421 (856) 8 565 10 432 (18)% (10)%
Group operating profit 893 (56) 837 626 34% 43%
Turnover 9 436 (857) 8 579 10 467 (18)% (10)%
Operating profit BEIA 990 (73) 917 845 9% 17%
Exceptional items (81) 17 (64) (200)
Amortisation – goodwill and intangible assets (17) – (17) (18)
Operating profit 892 (56) 836 627 33% 42%
Operating margin 9.5% 9.7% 6.0%
Operating margin BEIA 10.5% 10.7% 8.1%
Turnover and underlying sales growth 2002
(at constant 2001 rates) vs 2001
Underlying sales growth (%) 0.8
Effect of acquisitions (%) 2.0
Effect of disposals (%) (12.2)
Turnover growth (%) (9.8)
Turnover fell by 18% at current rates of exchange, with currency
movements contributing an 8% decline. Operating profit grew by
33% and operating profit BEIA grew by 9%, with currency
movements contributing reductions of 9% and 8% respectively.
The underlying performance of the business after eliminating
these exchange translation effects is discussed below at constant
exchange rates.
In 2002, underlying sales grew by 0.8% and operating margin
BEIA improved by 2.4%, through the benefit of our savings
programmes. Growth was driven by Radiant, Snuggle
and Comfort.
Around the world in 2002, we repositioned Omo, our top-
performance washing detergent, as a brand for parents and their
families. This strategy was driven by the message that getting
dirty is all part of the experience children need to learn and
develop. It helped to consolidate the leading position of Omo in
Brazil and South Africa and to achieve market share gains in such
countries as Morocco and Thailand.
In Morocco, Omo overtook its rivals to become the market leader.
In Thailand, new innovations helped the brand to extend its
leadership, while in South Africa it maintained its strong
leadership position in a growing market.
To reinforce our position in the sector, we launched Persil Aloe
Vera. This successfully introduced new customers to the brand.
During 2002, Persil achieved its highest market share for 10 years.
On 3 May 2002 we completed the sale of our DiverseyLever
business to Johnson Professional Holdings Inc., leading to a 9.8%
reduction in turnover, despite underlying sales growth of 0.8%.