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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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.