UNILEVER NIGERIA: QUARTER 1 – FINANCIAL STATEMENTS 2022

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Unilever Nigeria Plc

Unaudited Interim Financial Statements

For the three months ended March 31, 2022

1

Content

Page

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

2021

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

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

All news about UNILEVER NIGERIA PLC

2022 sales 78,840 million
190 million
190 million
2022 net income 2,570M
6.18M
6.18M
Net cash 2022 56,424M
136 million
136 million
PER 2022 ratio 27.3x
2022 return 2.36%
Capitalization 70,089 million
169M
169M
EV / Sales 2022 0.17x
EV / Sales 2023 0.16x
# of employees 755
Floating 24.0%

Chart UNILEVER NIGERIA PLC


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Evolution of the income statement

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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%


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