Unilever Nigeria : Unaudited Interim Financial Statement Quarter ended 31 December 2022

Unilever Nigeria Plc Unaudited Interim Financial Statements

For the Twelve Months ended 31 December 2022

1

Unilever Nigeria Plc

Unaudited Interim Financial Statements for the Twelve Months ended 31 December 2022

Contents	Page
- Statement of profit or loss and other comprehensive income	3 - 4
- Statement of profit or loss and other comprehensive income (Continued)	5
- Statement of financial position	6 - 7
- Statement of changes in equity	8
- Statement of cash flows	9
- Notes to the financial statements	10

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Unilever Nigeria Plc

Unaudited Interim Financial Statements for the Twelve Months ended 31 December 2022

Statement of profit or loss and other comprehensive income For three months ended

		31 December			31 December
		2022	2021
	Note	N'000			N'000
Revenue	7	23,952,214	20,850,156
Cost of sales		(9,651,647)		(13,890,392)
Gross profit		14,300,567	6,959,764
Selling and distribution expenses		(1,327,354)	(1,031,291)
Marketing and administrative expenses		(4,964,667)	(3,490,822)
Impairment loss on trade and intercompany
receivables		(3,596)	(156,264)
Other income		28,724	37,352
Operating (Loss)/ profit
	8,033,674	2,318,739
Finance income		947,567	0
Finance costs		409,114	(278,123)
Net finance income
	1,356,681	(278,123)
(Loss)/ profit before minimum taxation		9,390,355	2,040,616
Minimum tax expense		-	(105,083)
(Loss)/ profit before taxation
	9,390,355	1,935,533
Taxation		(3,049,759)		(389,078)
(Loss)/ profit from continuing operations		6,340,596	1,546,454
Discontinued operations
Profit from discontinued operations		-		2,336,849.10
(Loss)/ profit for the period		6,340,596	3,883,303
Attributable to:
Equity holders		6,340,596		3,883,303
Earnings per share for profit attributable to equity holders:
Basic and diluted earnings per share (Naira)		1.10	0.68

The accompanying notes form an integral part of these financial statements.

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Unilever Nigeria Plc

Unaudited Interim Financial Statements for the Twelve Months ended 31 December 2022

Statement of profit or loss and other comprehensive income For twelve months ended

		31 December		31 December
		2022	2021
	Note	N'000		N'000
Revenue	7	88,720,761	70,523,695
Cost of sales		(57,238,265)	(50,161,785)
Gross profit
	31,482,496	20,361,911
Selling and distribution expenses		(4,797,463)	(3,318,990)
Marketing and administrative expenses	8	(18,281,825)	(15,121,313)
Impairment loss on trade receivables		50,483	(829,576)
Other income	9	123,683		37,352
Operating profit		8,577,374	1,129,384
Finance income	10	1,834,478	1,027,210
Finance costs	11	(548,377)		(95,742)
Net finance costs		1,286,101	931,468
Profit before minimum taxation		9,863,475	2,060,853
Minimum tax expense		-	(182,169)
Profit before taxation		9,863,475	1,878,683
Taxation	12	(3,870,887)		(1,190,417)
(Loss)/ profit from continuing operations		5,992,588	688,266

Discontinued operations

Profit from discontinued operations	22	-
(Loss)/ profit for the period		5,992,588
Attributable to:
Equity holders		5,992,588

Earnings per share for profit attributable to equity holders:

Basic and diluted earnings per share (Naira)1.04

The accompanying notes form an integral part of these financial statements.

2,720,908

3,409,174

3,409,174

0.59

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Unilever Nigeria Plc

Unaudited Interim Financial Statements for the Twelve Months ended 31 December 2022

Statement of profit or loss and other comprehensive income (Continued)

For three months ended

	31 December		31 December
	2022	2021
	N'000		N'000
Remeasurement on post employment benefit obligations	308,841	-
Other comprehensive income	308,841	-
(Loss)/ profit for the period	6,340,596		3,883,303
Total comprehensive income	6,649,437	3,883,303
Attributable to:
Equity holders	6,649,437	3,883,303
For twelve months ended 31 December 2022
	31 December		31 December
	2022	2021
	N'000		N'000
Items that will not be reclassified to income statement:
Remeasurement on post employment benefit obligations	308,841	330,555
Tax effect	-	(107,181)
Other comprehensive income	308,841	223,374
(Loss)/ profit for the period	5,992,588		3,409,174
Total comprehensive income	6,301,429	3,632,548
Attributable to:
Equity holders	6,301,429	3,632,548

The accompanying notes form an integral part of these financial statements.

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