Unilever Nigeria Plc
Unaudited Interim Financial Statements
For the three months ended March 31, 2022
1
Content
Page
-
– Statement of net income and other comprehensive income
3 – 4
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– Statement of other comprehensive income
4
5 – 6
– Statement of changes in equity 7
– Cash Flow Statement 8
– Notes to the financial statements 9
Statement of net income and other comprehensive income For the three months ended
|
March 31, 2022 |
March, 31st |
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|
2021 |
|||
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To note |
N’000 |
N’000 |
|
|
Revenue |
6 |
20,560,459 |
16,509,599 |
|
Cost of sales |
(13,386,441) |
(12,328,660) |
|
|
Gross profit |
7,174,018 |
4,180,939 |
|
|
Selling and distribution costs |
(1,010,359) |
(727,846) |
|
|
Marketing and administrative expenses |
7 |
(4,056,960) |
(3,735,489) |
|
Impairment loss on trade and intragroup |
44,994 |
||
|
receivables |
– |
||
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Other income |
8 |
35,908 |
– |
|
Operating profit/(loss) |
2,187,601 |
(282,396) |
|
|
Financial products |
9 |
284,064 |
186,790 |
|
Financial expenses |
ten |
(121,133) |
(34,371) |
|
Net financial income |
162,931 |
152,419 |
|
|
Profit/ (loss) before minimum tax |
2,350,532 |
(129,977) |
|
|
Minimum tax expenditure |
11 |
(104,113) |
(97,100) |
|
Profit/(loss) before tax |
2,246,419 |
(227,077) |
|
|
Taxation |
11 |
(450,123) |
(346,808) |
|
Profit/ (loss) from continuing operations |
1,796,296 |
(573,885) |
|
|
Discontinued operations |
|||
|
Profit from discontinued operations |
22 |
– |
81,889 |
|
1,796,296 |
(491,997) |
||
|
Profit/ (loss) for the period |
|||
|
Attributable to: |
|||
|
Shareholders |
1,796,296 |
(491,997) |
|
|
(0.09) |
Earnings per share for profit attributable to shareholders:
Basic and Diluted Earnings Per Share (Naira)The accompanying notes form an integral part of these financial statements.
0.31
Statement of net income and other comprehensive income (continued)
For three months ended
|
March, 31st |
March 31, 2021 |
|
|
2022 |
||
|
N’000 |
N’000 |
|
|
The other extended result |
– |
– |
|
Profit/ (loss) for the period |
1,796,296 |
(491,997) |
|
Total comprehensive income |
1,796,296 |
(491,997) |
|
Attributable to: |
||
|
1,796,296 |
(491,997) |
|
|
Shareholders |
The accompanying notes form an integral part of these financial statements.
Statement of Financial Position As at March 31, 2022
|
March, 31st |
December 31st |
||
|
2022 |
2021 |
||
|
To note |
|||
|
N’000 |
N’000 |
||
|
Assets |
|||
|
Non-current assets |
|||
|
Fixed assets |
12 |
21,834,990 |
22,376,286 |
|
Intangible assets |
3,370 |
3,467 |
|
|
21,838,360 |
22,379,753 |
||
|
Current assets |
|||
|
Inventories |
13 |
18,741,773 |
14,956,331 |
|
Customers and other debtors |
14 |
14,653,400 |
14,992,655 |
|
Cash and bank balances |
15 |
60,836,294 |
55,697,537 |
|
Assets held for sale |
21 |
262 258 |
262 258 |
|
94,493,725 |
85 908 781 |
||
|
Total assets |
116,332,085 |
108,288,534 |
|
|
Passives |
|||
|
Current liabilities |
|||
|
Suppliers and other creditors |
16 |
45,501,938 |
39,739,074 |
|
Income tax |
553,891 |
478,615 |
|
|
46,055,829 |
40,217,689 |
||
|
Non-current liabilities |
|||
|
Deferred tax liabilities |
1,440,556 |
1,063,404 |
|
|
Unfunded retirement benefit |
17 |
463 197 |
454,713 |
|
Retirement commitments |
17 |
434,774 |
421 291 |
|
Seniority obligations |
17 |
379,765 |
369,770 |
|
2,718,292 |
2,309,178 |
||
|
Total responsibilities |
48,774,121 |
42,526,867 |
5
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Unilever Nigeria plc published this content on April 22, 2022 and is solely responsible for the information contained therein. Distributed by Audienceunedited and unmodified, on April 22, 2022 9:08:03 PM UTC.
Public now 2022
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Evolution of the income statement
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To sell  To buy |
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| Medium consensus | HOLD |
| Number of analysts | 6 |
| Last closing price | 12.20 NGN |
| Average target price | 13.67 NGN |
| Average Spread / Target | 12.1% |
