UNILEVER NIGERIA PLC Unilever Nigeria Plc Unaudited Interim Financial Statements
For the Nine Months ended 30 September 2023
Unilever Nigeria Plc
Unaudited Interim Financial Statements for the Nine Months Ended 30 September 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 |
2
Unilever Nigeria Plc
Unaudited Interim Financial Statements for the Nine Months Ended 30 September 2023
Statement of profit or loss and other comprehensive income For three months ended
Note | |
Revenue | 7 |
Cost of sales | |
Gross profit | |
Selling and distribution expenses | |
Marketing and administrative expenses | |
Impairment (loss)/write back on trade receivables | |
Other income | |
Operating profit / (loss) | |
Finance income | |
Finance costs |
Net finance (costs) / Income
Profit / (Loss) before taxation
Taxation
Loss from continuing operations
Loss for the period
Attributable to:
Equity holders
Earnings per share for profit attributable to equity holders:
Basic and diluted earnings per share (Naira)
30 Sept 2023 | 30 Sept 2022 | ||
N'000 | N'000 | ||
27,371,096 | 20,962,074 | ||
(21,058,971) | (17,981,095) | ||
6,312,125 | 2,980,979 | ||
(1,179,749) | (1,185,493) | ||
(4,669,156) | (4,433,043) | ||
(61,816) | 2,056 | ||
45,280 | 28,300 | ||
446,684 | (2,607,201) | ||
977,435 | 430,404 | ||
(1,034,819) | (328,891) | ||
(57,384) | 101,513 | ||
389,300 | (2,505,688) | ||
(1,481,092) | 251,017 | ||
(1,091,792) | (2,254,671) | ||
(1,091,792) | (2,254,671) | ||
(1,091,792) | (2,254,671) | ||
(0.19) | (0.39) | ||
The accompanying notes from page 10-21 form an integral part of these financial statements.
3
Unilever Nigeria Plc
Unaudited Interim Financial Statements for the Nine Months Ended 30 September 2023
Statement of profit or loss and other comprehensive income For nine months ended
30 Sept 2023 | 30 Sept 2022 | |||
Note | N'000 | N'000 | ||
Revenue | 7 | 81,576,822 | 64,768,547 | |
Cost of sales | 8 | (62,174,256) | (47,586,618) | |
Gross profit | 19,402,566 | 17,181,929 | ||
Selling and distribution expenses | (3,738,568) | (3,470,109) | ||
Marketing and administrative expenses | 9 | (12,310,834) | (13,317,158) | |
Impairment (loss)/write back on trade receivables | (1,722,918) | 54,079 | ||
Other income | 10 | 98,012 | 94,959 | |
Operating profit | 1,728,258 | 543,700 | ||
Finance income | 11 | 2,731,573 | 886,911 | |
Finance costs | 11 | 448,018 | (957,491) | |
Net finance Income/(costs) | 11 | 3,179,591 | (70,580) | |
Profit before taxation | 4,907,849 | 473,120 | ||
Taxation | 12 | (3,237,907) | (821,128) | |
Profit / (Loss) from continuing operations | 1,669,942 | (348,008) | ||
Profit / (Loss) for the period | ||||
1,669,942 | (348,008) | |||
Attributable to: | ||||
Equity holders | 1,669,942 | (348,008) | ||
Earnings per share for profit attributable to equity holders: | ||||
Basic and diluted earnings per share (Naira) | 0.29 | (0.06) | ||
The accompanying notes from page 10-21 form an integral part of these financial statements.
4
Unilever Nigeria Plc
Unaudited Interim Financial Statements for the Nine Months Ended 30 September 2023
Statement of profit or loss and other comprehensive income (Continued)
For three months ended | |||
30 Sept 2023 | 30 Sept 2022 | ||
N'000 | N'000 | ||
Other comprehensive income | - | - | |
Loss for the period | (1,091,792) | (2,254,671) | |
Total comprehensive income /(loss) | (1,091,792) | (2,254,671) | |
Attributable to: | |||
Equity holders | (1,091,792) | (2,254,671) | |
For nine months ended | |||
30 Sept 2023 | 30 Sept 2022 | ||
N'000 | N'000 | ||
Other comprehensive income | - | - | |
Profit / (Loss) for the period | 1,669,942 | (348,008) | |
Total comprehensive income /(loss) | 1,669,942 | (348,008) | |
Attributable to: | |||
Equity holders | 1,669,942 | (348,008) | |
The accompanying notes from page 10-21 form an integral part of these financial statements.
5
Unilever Nigeria Plc
Unaudited Interim Financial Statements for the Nine Months Ended 30 September 2023
Statement of Financial Position
As at 30 September 2023
30 Sept 2023 | 31 December | |||
Note | 2022 | |||
Assets | N'000 | N'000 | ||
Non-current assets | ||||
Property, plant and equipment | 13 | 21,006,831 | 21,490,568 | |
Intangible assets | 2,792 | 3,081 | ||
21,009,623 | 21,493,649 | |||
Current assets | ||||
Inventories | 14 | 16,470,552 | 16,331,854 | |
Trade and other receivables | 15 | 24,121,843 | 21,246,606 | |
Cash and bank balances | 16 | 73,802,277 | 66,317,783 | |
114,394,672 | 103,896,243 | |||
Total assets | 135,404,295 | 125,389,892 | ||
Liabilities | ||||
Current liabilities | ||||
Trade and other payables | 17 | 60,683,142 | 52,404,796 | |
Current tax liabilities | 1,833,270 | 2,972,361 | ||
62,516,412 | 55,377,157 | |||
Non-current liabilities | ||||
Deferred tax liabilities | 2,913,723 | 1,473,440 | ||
Unfunded retirement benefit obligations | 18 | 381,622 | 363,826 | |
Retirement benefit obligations | 18 | 322,875 | 291,205 | |
Long service award obligations | 18 | 332,315 | 319,548 | |
Other long term payables | 19 | 1,138,941 | - | |
5,089,476 | 2,448,019 | |||
Total liabilities | 67,605,888 | 57,825,176 | ||
6
Unilever Nigeria Plc
Unaudited Interim Financial Statements for the Nine Months Ended 30 September 2023
Statement of Financial Position (continued)
As at 30 September 2023
30 Sept 2023 | 31 December | |||
Note | 2022 | |||
Equity | N'000 | N'000 | ||
Ordinary share capital | 22 | 2,872,503 | 2,872,503 | |
Share premium | 22 | 56,812,810 | 56,812,810 | |
Retained earnings | 8,113,094 | 7,879,403 | ||
Total equity | 67,798,407 | 67,564,716 | ||
Total equity and liabilities | 135,404,295 | 125,389,892 | ||
The financial statements were approved for issue by the Board of Directors on 19 October 2023 and signed on its behalf by:
His Majesty N.A. Achebe CFR, MNI | Tim Kleinebenne* | Folake Ogundipe |
Chairman | Managing Director | National Finance Director |
FRC/2013/NIM/00000001568 | FRC/2019/ICAN/00000019604 |
*FRC has granted a waiver for Tim Kleinebenne to sign the quarter 3 unaudited interim financial statements without FRC Number under special considerations.
The accompanying notes from page 10-21 form an integral part of these financial statements.
7
Share | Share | Retained | |||||
capital | premium | earnings | Total | ||||
N'000 | N'000 | N'000 | N'000 | ||||
Balance at 1 January 2022 | 2,872,503 | 56,812,810 | 6,076,355 | 65,761,668 | |||
Total comprehensive income for the period | |||||||
Loss for the period | - | - | (348,008) | (348,008) | |||
Other comprehensive income | |||||||
Remeasurement on post employment benefit | - | - | - | - | |||
obligations, net of tax | |||||||
- | - | (348,008) | (348,008) | ||||
Transactions with owners | |||||||
Dividend declared | - | - | (2,872,503) | (2,872,503) | |||
Balance at 30 September 2022 | |||||||
2,872,503 | 56,812,810 | 2,855,844 | 62,541,157 | ||||
Balance at 1 January 2023 | 2,872,503 | 56,812,810 | 7,879,403 | 67,564,716 | |||
Total comprehensive income for the period | |||||||
Profit for the period | - | - | 1,669,942 | 1,669,942 | |||
Other comprehensive income | |||||||
Remeasurement on post employment benefit | |||||||
obligations, net of tax | - | - | - | - | |||
- | - | 1,669,942 | 1,669,942 | ||||
Transactions with owners | |||||||
Dividend declared | - | - | (1,436,251) | (1,436,251) | |||
(1,436,251) | (1,436,251) | ||||||
Balance at 30 September 2023 | 2,872,503 | 56,812,810 | 8,113,094 | 67,798,407 | |||
The accompanying notes from page 10-21 form an integral part of these financial statements.
8
Unilever Nigeria Plc
Unaudited Interim Financial Statements for the Nine Months Ended 30 September 2023
Statement of Cash Flows
For nine months ended
30 Sept 2023 | 30 Sept 2022 | |||
Note | N'000 | N'000 | ||
Cash flows from operating activities | ||||
Cash generated from operations | 20 | 8,618,559 | 6,496,436 | |
Retirement benefits paid | (203,073) | (208,331) | ||
Long service award obligations paid | (46,665) | (31,313) | ||
Tax paid | (1,661,055) | (297,003) | ||
Net cash flow generated from operating activities | ||||
6,707,767 | 5,959,788 | |||
Cash flows from investing activities | ||||
Interest received | 11 | 2,731,573 | 886,911 | |
Purchase of property, plant and equipment | 13 | (1,347,932) | (759,688) | |
Proceeds from sale of assets held for sale | - | 387,000 | ||
Proceeds from sale of property, plant and equipment | 17,101 | 7,487 | ||
Net cash flows from investing activities | ||||
1,400,742 | 521,710 | |||
Cash flows from financing activities | ||||
Interest paid | (115,894) | (113,603) | ||
Dividend paid | (508,121) | (518,445) | ||
Net cash used in financing activities | (624,015) | (632,048) | ||
Net increase in cash and cash equivalents | 7,484,494 | 5,849,451 | ||
Cash and cash equivalents at the beginning of the period | 66,317,783 | 55,697,537 | ||
Cash and cash equivalents at the end of the period | ||||
16 | 73,802,277 | 61,546,988 | ||
The accompanying notes from page 10-21 form an integral part of these financial statements.
9
Unilever Nigeria Plc
Unaudited Interim Financial Statements for the Nine Months Ended 30 September 2023
Notes to the financial statements | Page |
General information | 11 |
Dealings in Unilever Nigeria Plc. Shares | 11 |
Basis of preparation | 11 |
Significant accounting policies | 11 |
Estimates | 11 |
Financial risk management | 12 - 13 |
Segment reporting | 14 - 15 |
Cost of Sales | 15 |
Marketing and administrative expenses | 15 |
Other income | 15 |
Finance income | 16 |
Finance cost | 16 |
Income taxes | 16 |
Property, plant and equipment | 17 |
Inventories | 18 |
Trade and other receivables | 18 |
Cash and cash equivalents | 18 |
Trade and other payables | 18 - 19 |
Retirement benefit obligations | 19 |
Cash flows from operating activities | 20 |
Related party transactions | 20 - 21 |
Share capital and premium | 21 |
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Unilever Nigeria plc published this content on 20 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 October 2023 10:34:08 UTC.
