UNILEVER N V

CIK:0000110390|SEC Filings

Consolidated Income Statement - EUR (€)
€ in Millions

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

^[1]

Dec. 31, 2017

^[1]

Profit or loss [abstract]

Turnover

€ 51,980

€ 50,982

€ 53,715

Operating profit

8,708

12,639

8,957

Which includes non-underlying item credits/(charges) of

(1,239)

3,176

(543)

Net finance costs

(627)

(608)

(1,004)

Finance income

224

135

157

Finance costs

(821)

(718)

(683)

Pensions and similar obligations

(30)

(25)

(96)

Net finance cost non-underlying items

(382)

Non-underlying item net monetary gain/(loss) arising from hyperinflationary economies

122

Share of net profit/(loss) of joint ventures and associates

176

185

155

Which includes non-underlying item credits/(charges) of

Other income/(loss) from non-current investments and associates

Profit before taxation

8,289

12,360

8,126

Taxation

(2,263)

(2,572)

(1,670)

Which includes tax impact of non-underlying items of

113

(288)

655

Net profit

6,026

9,788

6,456

Attributable to:

Non-controlling interests

401

419

433

Shareholders' equity

€ 5,625

€ 9,369

€ 6,023

Combined earnings per share

Basic earnings per share (€)

€ 2.15

€ 3.49

€ 2.15

Diluted earnings per share (€)

€ 2.14

€ 3.48

€ 2.14

[1]	Restated following adoption of IFRS 16. See note 1 and note 24 for further details.

Consolidated Cash Flow Statement - EUR (€)
€ in Millions

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Statement of cash flows [abstract]

Net profit

€ 6,026

€ 9,788

^[1]

€ 6,456

^[1]

Taxation

2,263

2,572

^[1]

1,670

^[1]

Share of net (profit)/loss of joint ventures/associates and other (income)/loss from non-current investments and associates

(176)

(207)

^[1]

(173)

^[1]

Net monetary (gain)/loss arising from hyperinflationary economies

(32)

(122)

^[1]

Net finance costs

627

608

^[1]

1,004

^[1]

Operating profit

8,708

12,639

^[1]

8,957

^[1]

Depreciation, amortisation and impairment

1,982

2,216

^[1]

2,025

^[1]

Changes in working capital:

(9)

(793)

^[1]

(68)

^[1]

Inventories

313

(471)

^[1]

(104)

^[1]

Trade and other receivables

(445)

(1,298)

^[1]

(506)

^[1]

Trade payables and other liabilities

123

976

^[1]

542

^[1]

(260)

(128)

^[1]

(904)

^[1]

Provisions less payments

^[1]

200

^[1]

Elimination of (profits)/losses on disposals

(4,313)

^[1]

(298)

^[1]

Non-cash charge for share-based compensation

151

196

^[1]

284

^[1]

Other adjustments

^[2]

(260)

^[1]

(153)

^[1]

Cash flow from operating activities

10,641

9,612

^[1]

10,043

^[1]

Income tax paid

(2,532)

(2,294)

^[1]

(2,164)

^[1]

Net cash flow from operating activities

8,109

7,318

^[1]

7,879

^[1]

Interest received

146

110

^[1]

154

^[1]

Purchase of intangible assets

(210)

(203)

^[1]

(158)

^[1]

Purchase of property, plant and equipment

(1,316)

(1,329)

^[1]

(1,509)

^[1]

Disposal of property, plant and equipment

108

^[1]

Acquisition of businesses and investments in joint ventures and associates

(1,122)

(1,336)

^[1]

(4,896)

^[1]

Disposal of businesses, joint ventures and associates

177

7,093

^[1]

561

^[1]

Acquisition of other non-current investments

(160)

(94)

^[1]

(317)

^[1]

Disposal of other non-current investments

151

^[1]

251

^[1]

Dividends from joint ventures, associates and other non-current investments

164

154

^[1]

138

^[1]

(Purchase)/sale of financial assets

(68)

(10)

^[1]

(149)

^[1]

Net cash flow (used in)/from investing activities

(2,237)

4,644

^[1]

(5,879)

^[1]

Dividends paid on ordinary share capital

(4,209)

(4,066)

^[1]

(3,916)

^[1]

Interest paid

(694)

(571)

^[1]

(574)

^[1]

Net change in short-term borrowings

337

(4,026)

^[1]

2,695

^[1]

Additional financial liabilities

5,911

10,595

^[1]

8,851

^[1]

Repayment of financial liabilities

(4,912)

(6,594)

^[1]

(2,604)

^[1]

Capital element of lease payments

(435)

(481)

^[1]

(497)

^[1]

Buyback of preference shares

^[1]

(448)

^[1]

Repurchase of shares

(6,020)

^[1]

(5,014)

^[1]

Other movements on treasury shares

(201)

(257)

^[1]

(204)

^[1]

Other financing activities

(464)

(693)

^[1]

(309)

^[1]

Net cash flow (used in)/from financing activities

(4,667)

(12,113)

^[1]

(2,020)

^[1]

Net increase/(decrease) in cash and cash equivalents

1,205

(151)

^[1]

(20)

^[1]

Cash and cash equivalents at the beginning of the year

^[1]

3,090

3,169

3,198

Effect of foreign exchange rate changes

(179)

^[1]

(9)

^[1]

Cash and cash equivalents at the end of the year

€ 4,116

€ 3,090

^[1]

€ 3,169

^[1]

[1]	Restated following adoption of IFRS 16. See note 1 and note 24 for further details.
[2]	2018 includes a non-cash credit of €277 million from early settlement of contingent consideration relating to Blueair.

Consolidated Balance Sheet - EUR (€)
€ in Millions

Dec. 31, 2019

Dec. 31, 2018

Jan. 01, 2018

^[1]

Non-current assets

Goodwill

€ 18,067

€ 17,341

^[1]

€ 16,881

Intangible assets

12,962

12,152

^[1]

11,520

Property, plant and equipment

12,062

12,088

^[1]

12,270

Pension asset for funded schemes in surplus

2,422

1,728

^[1]

2,173

Deferred tax assets

1,336

1,152

^[1]

1,118

Financial assets

874

642

^[1]

675

Other non-current assets

653

530

^[2]

441

Total non-current assets

48,376

45,633

^[1]

45,078

Current assets

Inventories

4,164

4,301

^[1]

3,962

Trade and other current receivables

6,695

6,482

^[1]

5,219

Current tax assets

397

472

^[1]

488

Cash and cash equivalents

4,185

^[3]

3,230

^[1]

3,317

Other financial assets

907

874

^[1]

770

Assets held for sale

119

^[1]

3,224

Current assets

16,430

15,478

^[1]

16,980

Total assets

64,806

61,111

^[1]

62,058

Current liabilities

Financial liabilities

4,691

^[4],[5]

3,613

^[1],[4],[5]

8,378

Trade payables and other current liabilities

14,768

14,457

^[1]

13,426

Current tax liabilities

898

1,445

^[1]

1,088

Provisions

620

624

^[1]

525

Liabilities held for sale

^[1]

170

Total current liabilities

20,978

20,150

^[1]

23,587

Non-current liabilities

Financial liabilities

23,566

^[4],[5]

23,125

^[1],[4],[5]

18,039

Non-current tax liabilities

182

174

^[1]

118

Pensions and post-retirement healthcare liabilities:

Funded schemes in deficit

1,157

1,209

^[1]

1,225

Unfunded schemes

1,461

1,393

^[1]

1,509

Provisions

664

697

^[1]

794

Deferred tax liabilities

2,573

1,900

^[1]

1,888

Other non-current liabilities

339

346

^[1]

700

Total non current liabilities

29,942

28,844

^[1]

24,273

Total liabilities

50,920

48,994

^[1]

47,860

Shareholders' equity

Called up share capital

420

464

^[1]

484

Share premium account

134

129

^[1]

130

Other reserves

(5,574)

(15,218)

^[1]

(13,587)

Retained profit

18,212

26,022

^[1]

26,413

Total equity attributable to owners of parent

13,192

11,397

^[1]

13,440

Non-controlling interests

694

720

^[1]

758

Total equity

13,886

12,117

^[1]

14,198

Total liabilities and equity

€ 64,806

€ 61,111

^[1]

€ 62,058

[1]	Restated following adoption of IFRS 16. See note 1 and note 24 for further details.
[2]	Restated following adoption of IFRS 16. Operating lease prepayments for land that were previously reported within other non-current assets, have now been included within leased assets. See note1 and note 24 for further details.
[3]	For the purposes of this note and note 15C, financial assets and liabilities exclude trade and other current receivables and trade payables and other liabilities which are covered in notes 13 and 14 respectively.
[4]	For the purposes of this note and note 17A, financial assets and liabilities exclude trade and other current receivables and trade payables and other liabilities which are covered in notes 13 and 14 respectively.
[5]	Includes options and other financial liabilities to acquire non-controlling interests in EAC Myanmar, USA, Japan and Italy refer to note 21.