London/ Rotterdam--(Marketwire - February 7, 2008) -
FOURTH QUARTER AND ANNUAL RESULTS 2007
KEY FINANCIALS
(unaudited)
Fourth Quarter 2007 EUR million
Increase/(Decrease)
Current Current Constant
rates rates rates
Continuing operations:
9 890 2 % 5 % Turnover
1 097 3 % 11 % Operating profit
1 070 3 % 10 % Pre-tax profit
782 (13)% (6)% Net profit from continuing operations
787 (63)% (59)% Net profit from total operations*
0.25 (12)% (5)% EPS from continuing operations (Euros)
0.25 (64)% (61)% EPS from total operations* (Euros)
EUR million Full Year 2007
Increase/(Decrease)
Current Current Constant
rates rates rates
Continuing operations:
Turnover 40 187 1 % 5 %
Operating profit 5 245 (3)% 1 %
Pre-tax profit 5 184 7 % 11 %
Net profit from continuing operations 4 056 10 % 14 %
Net profit from total operations* 4 136 (18)% (15)%
EPS from continuing operations (Euros) 1.32 12 % 16 %
EPS from total operations* (Euros) 1.35 (18)% (15)%
* Includes EUR1.2 billion profit on disposal of frozen foods businesses in Europe
in the fourth quarter of 2006, as discontinued operations.
STRONG FINISH TO A GOOD YEAR
Full Year Financials
- Underlying sales growth of 5.5%. Operating margin of 13.1%, with an
underlying improvement of 0.2 percentage points.
- Earnings per share from continuing operations up 12%.
- Proposed final dividend of EUR0.50 per NV ordinary share and 34.11p
per PLC ordinary share, raising the total regular dividend for the
year by 7% for both NV and PLC. Share buy-back of at least EUR1.5
billion planned for 2008.
Fourth Quarter Financials
- Underlying sales growth of 6.1%, including 3.0% from pricing.
- Operating margin of 11.1%, with an underlying improvement of 0.2
percentage points, after an increase in advertising and promotions
of 0.6 percentage points of sales.
Operational Highlights of the Year
- Widespread growth across regions and categories consistent with our
strategy of concentrating resources on developing and emerging
markets, personal care and Vitality focused innovation.
- Marked improvement in Europe: growth of 2.8% in the year, and a
strong fourth quarter.
- Increasing contribution from price in response to rising commodity
costs.
- Strong cost savings programmes delivering EUR1 billion in the year.
Accelerated restructuring plan progressing well.
- Further steps to shape the portfolio including the announcements of
the acquisition of the leading Russian ice cream company Inmarko, the
extension of the Pepsi/Lipton partnership and the disposals of Lawry's
and Boursin.
GROUP CHIEF EXECUTIVE COMMENT
"The fourth quarter was a strong finish to a good year. 2007 marks the third
successive year of accelerating sales growth and came with an underlying
improvement in margin. This is clear evidence that our strategy of focusing
resources on faster growing and profitable segments is succeeding.
The re-shaping of the business and the acceleration of our change programme are
bringing real benefits. They make Unilever a more flexible and resilient
company, better placed to meet the challenges of operating in a tougher economic
and cost environment.
We therefore remain confident of achieving our 2010 goals - for an operating
margin in excess of 15% while delivering consistent, competitive growth along
the way.
In 2008 we expect underlying sales growth to be towards the upper end of our
3-5% target range and to see a further underlying improvement in operating
margin."
Patrick Cescau, Group Chief Executive 7 February 2008
ENQUIRIES
Media: Media Relations Team
UK +44 20 7822 6805 tim.johns@unilever.com
NL +31 10 217 4844
tanno.massar@unilever.com
Investors: Investor Relations Team
+44 20 7822 6830 investor.relations@unilever.com
There will be a web cast of the results presentation available at:
www.unilever.com/ourcompany/investorcentre/results/quarterlyresults/default.asp
To view the full text of this press release, click the following link:
http://www.rns-pdf.londonstockexchange.com/rns/3898n_-2008-2-7.pdf
This information is provided by RNS
The company news service from the London Stock Exchange