Unilever 2007 Annual Report Download - page 124

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122 Unilever Annual Report and Accounts 2007
Financial statements continued
Financial record Unilever Group
Financial record under IFRS
In the schedules below, figures within the income statement and for earnings per share reflect the classification between continuing and
discontinued operations, which has applied for our reporting during 2006 and 2007. Figures for 2005 and 2004 also reflect this classification,
and therefore differ from those originally published for those years.
€ million € million € million € million
Consolidated income statement 2007 2006 2005 2004
Continuing operations:
Turnover 40 187 39 642 38 401 37 168
Operating profit 5 245 5 408 5 074 3 981
Net finance costs (252) (721) (613) (623)
Income from non-current investments 191 144 55 95
Profit before taxation 5 184 4 831 4 516 3 453
Taxation (1 128) (1 146) (1 181) (725)
Net profit from continuing operations 4 056 3 685 3 335 2 728
Net profit from discontinued operations 80 1 330 640 213
Net profit 4 136 5 015 3 975 2 941
Attributable to:
Minority interests 248 270 209 186
Shareholders’ equity 3 888 4 745 3 766 2 755
€€ € €
Combined earnings per share(a) 2007 2006 2005 2004
Continuing operations:
Basic earnings per share 1.32 1.19 1.07 0.87
Diluted earnings per share 1.28 1.15 1.04 0.84
Total operations:
Basic earnings per share 1.35 1.65 1.29 0.94
Diluted earnings per share 1.31 1.60 1.25 0.91
€ million € million € million € million
Consolidated balance sheet 2007 2006 2005 2004
Non-current assets 27 374 27 571 28 358 26 368
Current assets 9 928 9 501 11 142 10 490
Current liabilities (13 559) (13 884) (15 394) (14 186)
Total assets less current liabilities 23 743 23 188 24 106 22 672
Non-current liabilities 10 924 11 516 15 341 15 043
Shareholders’ equity 12 387 11 230 8 361 7 264
Minority interests 432 442 404 365
Total equity 12 819 11 672 8 765 7 629
Total capital employed 23 743 23 188 24 106 22 672
€ million € million € million € million
Consolidated cash flow statement 2007 2006 2005 2004
Net cash flow from operating activities 3 876 4 511 4 353 5 547
Net cash flow from/(used in) investing activities (623) 1 155 515 (120)
Net cash flow from/(used in) financing activities (3 009) (6 572) (4 821) (5 938)
Net increase/(decrease) in cash and cash equivalents 244 (906) 47 (511)
Cash and cash equivalents at the beginning of the year 710 1 265 1 406 1 428
Effect of foreign exchange rates (53) 351 (188) 489
Cash and cash equivalents at the end of the year 901 710 1 265 1 406
Ratios and other metrics 2007 2006 2005 2004
Operating margin (%) 13.1 13.6 13.2 10.7
Net profit margin (%)(b) 9.7 12.0 9.8 7.4
Ungeared free cash flow (€ million)(c) 3 769 4 222 4 011 5 346
Return on invested capital (%)(d) 12.7 14.6 12.5 10.7
Ratio of earnings to fixed charges (times)(e) 8.3 7.5 6.5 5.1
(a) For the basis of the calculations of combined earnings per share see note 7 on page 85.
(b) Net profit margin is expressed as net profit attributable to shareholders’ equity as a percentage of turnover from continuing operations.
(c) As defined on page 30.
(d) As defined on page 31.
(e) In the ratio of earnings to fixed charges, earnings consist of net profit from continuing operations excluding net profit or loss of joint
ventures and associates increased by fixed charges, income taxes and dividends received from joint ventures and associates. Fixed charges
consist of interest payable on debt and a portion of lease costs determined to be representative of interest. This ratio takes no account of
interest receivable although Unilever’s treasury operations involve both borrowing and depositing funds.