Our Purpose

UNILEVER CARIBBEAN LIMITED HAS A CLEAR PURPOSE - TO MAKE SUSTAINABLE LIVING COMMONPLACE. WE BELIEVE THIS IS THE BEST WAY TO CREATE LONG TERM VALUE FOR ALL OUR STAKEHOLDERS, ESPECIALLY IN A VOLATILE AND UNCERTAIN WORLD.

Our Vision

OUR PURPOSE INSPIRES OUR VISION - TO ACCELERATE GROWTH IN OUR BUSINESS, WHILE REDUCING OUR ENVIRONMENTAL FOOTPRINT AND INCREASING OUR POSITIVE SOCIAL IMPACT. WE WANT OUR BUSINESS TO GROW BUT WE RECOGNISE THAT GROWTH AT THE EXPENSE OF PEOPLE OR THE ENVIRONMENT IS BOTH UNACCEPTABLE AND COMMERCIALLY UNSUSTAINABLE. SUSTAINABLE GROWTH IS THE ONLY ACCEPTABLE MODEL FOR OUR BUSINESS.

OUR PURPOSE AND VISION COMBINE A COMMERCIAL IMPERATIVE TO SUCCEED AGAINST COMPETITION GLOBALLY AND LOCALLY, WITH THE CHANGING ATTITUDES AND EXPECTATIONS OF CONSUMERS.

Our People

WITHOUT TALENTED AND COMMITTED EMPLOYEES, WE COULD NEVER DELIVER ON OUR AMBITIONS.

OUR PEOPLE HAVE BEEN OUR ABSOLUTE PRIORITY THROUGHOUT 2021, AND BECAUSE OF THEM WE'VE BEEN ABLE TO MEET THE NEEDS OF CONSUMERS AND GROW OUR BUSINESS.

Contents

THE YEAR IN REVIEW

Five-Year Financial Review 2

Financial Highlights 3

THE YEAR IN REVIEW

Our Group Strategy 4

Chairman's Report 8

Board of Directors 10

Governance Report 12

Report of the Audit Committee 14

Managing Director's Review 17

Leadership Team 19

Management Discussion and Analysis 20

Directors' Report 21

FINANCIAL STATEMENTS

Statement of Management Responsibilities 24

Independent Auditors' Report 25

Statement of Financial Position 28

Statement of Profit or Loss 29

Statement of Comprehensive Income 30

Statement of Changes in Equity 31

Statement of Cash Flows 32

Notes to the Financial Statements 33

OUR ANNUAL REPORT AND ACCOUNTS 2021:

We have chosen a new, simpler format for our 2021 Annual Report and Accounts because we are keen to drive economies through our reporting process, one that combines the statutory information along with a full narrative to provide a holistic and concise communication about how our strategy, governance, performance and prospects drive value creation for our stakeholders, and consistent, competitive, profitable and responsible growth for Unilever Caribbean Limited and our shareholders.

ONLINE

This annual report can be downloaded athttps://www.unilever.tt/investor-relations/

Layout: Paria Publishing Co. Ltd.

Printing: The Office Authority Ltd.

Five-Year Financial Review

Earnings (Loss) & Dividends Per Share (cents)Operating Margin & Return on Capital Employed (Percent)

cents

2021 2017

20187

22001189

22001290

20220021

2021

2021

2020

2019

2018

2017

Operating Performance

Turnover (TT$000)

233,186

290,009

284,548

317,815

464,042

Earnings (loss) before interest and tax (TT$000)

19,877

21,464

(103,280)

4,534

19,515

Profit (loss) before taxation (TT$000)

24,633

24,949

(99,065)

7,847

19,163

Taxation (TT$000)

(7,702)

(6,342)

23,548

(1,490)

(8,693)

Profit (loss) after taxation (TT$000)

16,931

18,607

(75,517)

6,357

10,470

Profit (loss) from discontinued operations, net of tax (TT$000)

171,881

-(418)

162,167

-

Profit (loss) for the year (TT$000)

188,812

18,607

(75,935)

168,524

10,470

Return on stockholders' equity

39.6%

6.4%

-29.2%

45.3%

4.5%

Return on capital employed

3.8%

6.4%

-34.7%

1.0%

6.6%

Operating margin

8.5%

7.4%

-36.3%

1.4%

4.2%

Liquidity Indicators

Current ratio

4.2

2.5

1.8

2.8

1.4

Net current assets (TT$000)

372,200

145,771

124,594

239,014

65,383

Capital Structure and Long-Term Solvency Ratios

Stated capital (TT$000)

26,244

26,244

26,244

26,244

26,244

Capital reserves (TT$000)

36,568

36,568

35,643

35,643

35,643

Dividends (TT$000)

118,097

15,746

-59,049

8,398

Special dividend (TT$000)

-

-

-

-11,547

Retained earnings (TT$000)

414,131

228,775

198,346

309,722

172,433

Total stockholders' funds (TT$000)

476,943

291,587

260,233

371,609

234,320

Total liabilities (TT$000)

165,495

144,987

202,146

193,834

210,570

Capital employed (TT$000)

524,641

336,234

297,291

432,951

296,096

Earnings and Dividends

Earnings (loss) per share (TT¢)

719

71

(289)

642

40

DPS (TT¢)

450

60

-

225

32

Special dividend (TT¢)

-

-

-

-

44

Market Indicators

Price earnings ratio

2.25

23.48

(7.96)

3.58

72.50

Dividend cover

1.60

1.18

0.00

2.85

1.25

Dividend yield (%)

27.78

3.60

0.00

9.79

1.10

Share price at 31 December (TT$)

16.20

16.65

23.00

22.99

29.00

Net asset value per share unit

18.17

11.11

9.92

14.16

8.93

Financial Highlights

TURNOVER

OPERATING PROFIT (% OF TURNOVER)

PROFIT BEFORE TAX (% OF TURNOVER)

-19.6%

8.5%

10.6%

2020: 1.9%

2020: 7.4%

2020: 8.6%

THE YEAR IN REVIEW

EARNINGS PER SHARE

TOTAL DIVIDEND PER SHARE

TT$ 7.19

TT$4.50

2020: TT$0.71

2020: TT$0.60

TOTAL SHAREHOLDERS' RETURN

RETURN ON CAPITAL EMPLOYED

24.3%

3.8%

2020: (25)%

2020: 6.4%

Having access to the global network of the group's sourcing units has also been vital during 2021 in order to secure product supply as much as possible during a year of unprecedented supply chain disruptions.

Rodrigo Sotomayor

Chairman

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Disclaimer

Unilever Caribbean Ltd. published this content on 29 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 April 2022 19:37:03 UTC.