UNILEVER NIGERIA : QUARTER 1 - FINANCIAL STATEMENT FOR 2022

Unilever Nigeria Plc

Unaudited Interim Financial Statements

For the Three Months ended 31 March 2022

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Contents

Page

• - Statement of profit or loss and other comprehensive income

  3 - 4

• - Statement of other comprehensive income

  4

• - Statement of financial position

5 - 6

- Statement of changes in equity 7

- Statement of cash flows 8

- Notes to the financial statements 9

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

31 March 2022	31 March
2021
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 expenses	(1,010,359)	(727,846)
Marketing and administrative expenses	7	(4,056,960)	(3,735,489)
Impairment loss on trade and intercompany	44,994
receivables	-
Other income	8	35,908	-
Operating profit/ (loss)	2,187,601	(282,396)
Finance income	9	284,064	186,790
Finance costs	10	(121,133)	(34,371)
Net finance income	162,931	152,419
Profit/ (loss) before minimum taxation	2,350,532	(129,977)
Minimum tax expense	11	(104,113)	(97,100)
Profit/ (loss) before taxation	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:
Equity holders	1,796,296	(491,997)
(0.09)

Earnings per share for profit attributable to equity holders:

Basic and diluted earnings per share (Naira)The accompanying notes form an integral part of these financial statements.

0.31

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

For three months ended

31 March	31 March 2021
2022
N'000	N'000
Other comprehensive income	-	-
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)
Equity holders

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

Statement of Financial Position As at 31 March 2022

31 March	31 December
2022	2021
Note
N'000	N'000
Assets
Non-current assets
Property, plant and equipment	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
Trade and other receivables	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
Liabilities
Current liabilities
Trade and other payables	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 benefit obligations	17	434,774	421,291
Long service award obligations	17	379,765	369,770
2,718,292	2,309,178
Total liabilities	48,774,121	42,526,867

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