Unilever : Annual Report and Accounts 2020 PDF | 12MB

Disclaimer

This is a PDF version of the Unilever Annual Report and Accounts 2020 and is an exact copy of the printed document provided to Unilever's shareholders.

Certain sections of the Unilever Annual Report and Accounts 2020 have been audited. These are on pages 112 to 167, and those parts noted as audited within the Directors' Remuneration Report on pages 90 to 99.

The maintenance and integrity of the Unilever website is the responsibility of the Directors; the work carried out by the auditors does not involve consideration of these matters. Accordingly, the auditors accept no responsibility for any changes that may have occurred to the financial statements since they were initially placed on the website.

Legislation in the United Kingdom and the Netherlands governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Except where you are a shareholder, this material is provided for information purposes only and is not, in particular, intended to confer any legal rights on you.

This Annual Report and Accounts does not constitute an invitation to invest in Unilever shares. Any decisions you make in reliance on this information are solely your responsibility.

The information is given as of the dates specified, is not updated, and any forward-looking statements are made subject to the reservations specified in the cautionary statement on the inside back cover of this PDF.

Unilever accepts no responsibility for any information on other websites that may be accessed from this site by hyperlinks.

In this report

Strategic Report

How our Compass strategy is delivering value for our stakeholders

Introduction

• 2 At a glance

• 4 Chairman's introduction

• 6 Chief Executive Officer's Q&A

Our strategy

8 Our strategy

12 Our business model

Our stakeholders

14 Stakeholder review

16 Our people

20 Consumers

24 Customers

26 Suppliers & business partners

28 Planet & society

32 Shareholders

Performance review

34 Our performance

36 Financial review

44 Our risks

51 Sustainability deep-dives: climate change and plastic

60 Non-financial information statement

Governance Report

How we're running a responsible and effective business

Financial Statements

Our full financial results and notes for the year

61	Corporate Governance	104	Statement of Directors' responsibilities
70	Report of the Audit Committee	105	Independent Auditor's Report
72	Report of the Corporate Responsibility Committee	112	Consolidated financial statements
74	Report of the Nominating and Corporate	116	Notes to the consolidated financial statements
Governance Committee	168	Unilever PLC Company Accounts and notes
76	Directors' Remuneration Report	184	Group Companies
191	Shareholder information
192	Index
193	Additional Information for US Listing Purposes

Online

You can find more information about Unilever online atwww.unilever.com

For further information on our sustainability performancewww.unilever.com/planet-and-society

The Unilever Annual Report and Accounts 2020 (and the Additional Information for US Listing Purposes) along with other relevant documents can be downloaded at

www.unilever.com/investor-relations/annual-report-and-accounts

Unilever Annual Report and Accounts 2020

This document is made up of the Strategic Report, the Governance Report, the Financial Statements and Notes, and Additional Information for

US Listing Purposes.

The Unilever Group consists of Unilever PLC (PLC) together with the companies it controls. The terms 'Unilever', the 'Group', 'we', 'our' and 'us' refer to the Unilever Group.

Our Strategic Report, pages 1 to 60, contains information about us, how we create value and how we run our business. It includes our strategy, business model and key performance indicators, as well as our approach to sustainability and risk. The Strategic Report is only part of the Annual Report and Accounts 2020. The Strategic Report has been approved by the Board and signed on their behalf by Ritva Sotamaa - Group Secretary.

Our Governance Report, pages 61 to 103, contains detailed corporate governance information, our Committee reports and how we remunerate our Directors.

Our Financial Statements and Notes are on pages 104 to 183.

Pages 1 to 192 constitute the Unilever Annual Report and Accounts 2020, which we may also refer to as 'this Annual Report and Accounts' throughout this document.

The Directors' Report of PLC on pages 61 to 75, 104 (Statement of Directors' responsibilities), 134 (Dividends on ordinary capital), 149 to 155 (Treasury Risk Management), 176 (Post balance sheet events) and 190 (Branch disclosure) has been approved by the PLC Board and signed on its behalf by Ritva Sotamaa - Group Secretary.

Pages 193 to 203 are included as Additional Information for US Listing Purposes.

The events of 2020 have tested the world in ways few anticipated. They also tested the resilience of our business - our people, our operations, our financial strength. While this has not been an easy year, it's made us a stronger business, better prepared for a fast-changing world.

We believe that the world needs businesses like Unilever more than ever. We have responded with speed and agility to protect lives and livelihoods, while growing our business. Driving a progressive agenda on issues like climate, social inequality and the future of work. And serving consumers through our purposeful brands, which are more relevant than ever.

Above all, this year has strengthened our commitment to being the global leader in sustainable business, and to showing that our purpose-led, future-fit business model delivers superior performance.