UNILEVER NIGERIA : QUARTER 2 - FINANCIAL STATEMENT FOR 2023

Contents

Page

- Statement of profit or loss and other comprehensive income

3 - 5

- Statement of financial position

6 - 7

- Statement of changes in equity

8

- Statement of cash flows

9

- Notes to the financial statements

10

30 June 2023

30 June 2022

Note

N'000

N'000

Revenue

7

29,597,329

23,246,014

Cost of sales

(27,107,141)

(16,219,082)

Gross profit

2,490,188

7,026,932

Selling and distribution expenses

(1,300,866)

(1,274,257)

Marketing and administrative expenses

(3,092,507)

(4,827,155)

Impairment loss on trade and intercompany

(1,398,346)

7,029

receivables

Other income

26,331

30,751

Operating profit / (loss)

(3,275,200)

963,300

Finance income

1,570,756

172,443

Finance costs

1,874,383

(507,467)

Net finance Income/(costs)

3,445,139

(335,024)

Profit before minimum taxation

169,939

628,276

Minimum tax expense

-

-

Profit before taxation

169,939

628,276

Taxation

(78,461)

(517,909)

Profit from continuing operations

91,478

110,367

Profit for the period

91,478

110,367

Attributable to:

Equity holders

91,478

110,367

Earnings per share for profit attributable to equity holders:

Basic and diluted earnings per share (Naira)

0.02

0.02

30 June 2023

30 June 2022

Note

N'000

N'000

Revenue

7

54,205,726

43,806,473

Cost of sales

8

(41,115,285)

(29,605,523)

Gross profit

13,090,441

14,200,950

Selling and distribution expenses

(2,558,819)

(2,284,616)

Marketing and administrative expenses

9

(7,641,678)

(8,884,115)

Impairment loss on trade receivables

(1,661,102)

52,023

Other income

10

52,732

66,659

Operating profit

1,281,574

3,150,901

Finance income

11(i)

1,754,138

456,507

Finance costs

11(ii)

1,482,837

(628,600)

Net finance Income/(costs)

11

3,236,975

(172,093)

Profit before minimum taxation

4,518,549

2,978,808

Minimum tax expense

-

-

Profit before taxation

4,518,549

2,978,808

Taxation

12

(1,756,815)

(1,072,145)

Profit from continuing operations

2,761,734

1,906,663

Profit for the period

2,761,734

1,906,663

Attributable to:

Equity holders

2,761,734

1,906,663

Earnings per share for profit attributable to equity holders:

Basic and diluted earnings per share (Naira)

0.48

0.33

For three months ended

30 June

30 June 2022

2023

N'000

N'000

Other comprehensive income

-

-

Profit for the period

91,478

110,367

Total comprehensive income

91,478

110,367

Attributable to:

Equity holders

91,478

110,367

For six months ended

30 June

30 June 2022

2023

N'000

N'000

Other comprehensive income

-

-

Profit for the period

2,761,734

1,906,663

Total comprehensive income

2,761,734

1,906,663

Attributable to:

Equity holders

2,761,734

1,906,663