ir q2 2013 full announcement tcm13-364996

8/13/2019 Ir Q2 2013 Full Announcement Tcm13-364996

1/20

2013 FIRST HALF YEAR RESULTS

PROFITABLE GROWTH MOMENTUM SUSTAINED IN TOUGHER MARKETS

First ha! hi"hi"hts

U#$%r&i#" sa%s "r'(th )*0+with emerging markets up 10.3% U#$%r&i#" ,'-.% "r'(th 2*/+and pricing up 2.3% T-r#',%r - 0*+ at 2)*) ii'#with currency (3.2)% and disposals (1.1)% 4'r% '%rati#" .ar"i# - 0s t' 1*0+driven by gross margin up 120bps 4'r% %ar#i#"s %r shar% - + t' 0*5/6 !r%% 7ash !'( '! 1*3 ii'# Hi#$-sta# U#i%,%rstake increased to 6%S%7'#$ 8-art%r hi"hi"hts

U#$%r&i#" sa%s "r'(th )*0+with volume growth o! 3.0% and price growth o! 2.0%Pa- P'.a#9 4hi%! E:%7-ti,% O!!i7%r stat%.%#t

"#his set o! results clearly demonstrates that the trans!ormation o! $nilever to a sustainable growth company is !ullyon track. #he strong ome &are and 'ersonal &are per!ormance is particularly pleasing given increased competitive

pressure. #he underlying per!ormance o! our oods and e!reshment categories is starting to improve* with stronggrowth !rom the relaunched Lit'# Y%'( La% and the continuing success o! K#'rr+elly bouillons and baking bags.,nnovation remains the key driver o! growth with e-amples such as compressed deodorants* ;as%i#%pray / o and

Ma"#-. kisses. nd there is more to come our innovation pipeline is robust which will be vital as we navigate the

slowdown in many parts o! the world.

4ur !ocus on gross margin is also starting to bear !ruit we are delivering more pro!itable innovations* improving mi-

and continuing to apply a rigorous approach to supply chain costs and savings. 5ut there is no room !or complacency

we are well aware that past success is no guarantee o! !uture success. #he tougher economic environment andreinvigorated competition reuire us to set the bar higher on innovation and to increase investment behind our

brands. t the same time we need to continue to take costs out o! the system to help !inance this investment.

#he $nilever ustainable 7iving 'lan gives us a strong purpose8driven business model. 4ur emerging markets

!ootprint and strong innovation pipeline gives us con!idence that we will continue to grow competitively. 9e remain!ocused on achieving another year o! pro!itable volume growth ahead o! our markets* steady and sustainable core

operating margin improvement and strong cash !low.:

K%& Fi#a#7ias


2/20

2

OPERATIONAL RE;IEW9 4ATEGORIES

econd =uarter 2013 irst al! 2013

(unaudited) #urnover $ $> $' #urnover $ $> $'

&hange in

coreoperating

margin

?bn % % % ?bn % % % bpsU#i%,%r T'ta 13*3 )*0 3*0 2*0 2)*) )*0 2*/ 2*3 0

'ersonal &are @.6 . 6.0 1.6 A.1 B.0 .B 2.1 20

oods 3.@ 1.0 (0.6) 1.6 6.B 0.2 (1.0) 1.2 (30)

e!reshment 3.0 1.A (0.) 2. .1 2.1 (1.1) 3.2 A0ome &are 2.3 10.2 . 2. @.6 A.B 6.@ 3.2 10

O-r .arC%ts9 rowth is slowing in emerging markets* as macro8economic headwinds in!luence consumer behaviour.

9ithin this overall trend we see a mi-ed picture across the ma+or countries re!lecting di!!erent local circumstances.Ceveloped markets remain sluggish with little sign o! any recovery in Dorth merica or Europe.

U#i%,%r %r!'r.a#7%9 $nilever delivered another uarter o! solid growth* led by emerging markets which continued

to grow at 10.3% with a good balance between volume and price. Ceveloped markets declined by (1.3)% in the uarter*with both negative price and volume. ll categories grew globally with strong growth !rom ome &are and 'ersonal

&are. e!reshment was held back by the impact o! adverse weather conditions on the ice cream business. ,n oods*

the good growth o! Fnorr and ellmannGs was o!!set by a decline in spreads.

ross margin increased by 120bps to @1.0% at constant e-change rates* primarily due to the mi- bene!it o! higher

margin products and continued discipline around savings programmes. &ore operating margin* up @0bps at [email protected]%*

also re!lected higher advertising and promotions investment behind our brands.

P%rs'#a 4ar%

air per!ormed well despite highly competitive markets. D',%bene!ited !rom the rollout o! D',% epair E-pertise andHenI&are hair. TRES%..also delivered broad8based growth* underpinned by the Feratin mooth range and goodprogress in new markets. S-#siCgrew on the back o! the success!ul essential oils variant in ,ndonesia and a new

conditioners range in #urkey. 4%arcontinued to make good progress.

kin cleansing continued to deliver robust growth re!lecting the success o! the improved D',%Dutrium Hoisture

shower range and D',% HenI&are. ;as%i#%growth accelerated* helped by the success!ul launch o! the pray / o

moisturiser. P'#$slawless 9hite 55 is being rolled out to new markets a!ter the success!ul launch in #hailand andP'#$sHen has been rolled out to ,ndonesia.

Ceodorants growth was driven by the continuing success o! compressed deodorants* A:%pollo and the R%:'#aJCo

HoreG campaign.4ral care per!ormed well despite increased competitive intensity with the rollout o! the E-pert

'rotection range to h'#" H-a in &hina and good momentum behind P%s'$%#t18283.

&ore operating margin in the !irst hal! was up 20bps* driven by higher gross margin.

F''$s

avoury growth accelerated as K#'rrbene!ited !rom the continuing success o! +elly bouillons* now e-tended to a meal

maker range introduced in ussia* and baking bags which are doing particularly well in 7atin merica. K#'rralso

per!ormed well in Dorth merica with the success!ul JwhatGs !or dinner tonightG campaign driving growth in &anada.9e continue to build consumption in emerging markets* !or e-ample in Digeria where we see the bene!it o!

improvements we have made to the product uality o! our powdered bouillons.

Cressings continued to deliver consistent growth with the notable success o! the H%.a##s100thbirthday

celebrations and the H%.a##s eal 9hipped variant in the $nited tates. preads per!ormance improved versusthe !irst uarter but lower sales re!lected the underlying weakness o! the market and high levels o! competitor pricing

activity. 9e continue to introduce better tasting products and the B%7% old variant is progressing in line with

e-pectations.

&ore operating margin was down 30bps with higher gross margin o!!set by increased advertising and promotions.


3/20

3

R%!r%sh.%#t

rowth in lea! tea continued to improve with the Lit'#brand delivering strong growth in the Hiddle East and #urkeyhelped by the introduction o! the new better8tasting Lit'# Y%'( a%. #he Br''C% B'#$R%$ La%relaunchhighlighting the health bene!its o! tea per!ormed well in outh sia. #he A$%ssoy drink brand is now recovering a!ter

the negative impact o! a product recall.

,ce cream grew globally despite poor weather in Europe and the $* re!lecting the !act that we are no longer sodependent on the European summer. Ma"#-.innovations such as Ma"#-.'ink and 5lack* J kissesG and the new

pints !ormat in Europe are doing well. 4'r#%tt'has been relaunched in &hina and Europe and B%# %rr&sgrowth

was driven by new !lavours such as 'eanut 5utter He $p.

&ore operating margin was up A0bps with higher gross margins underpinned by improved mi- and cost savings.

H'.% 4ar%

7aundry delivered double digit growth in the uarter driven by a strong innovation programme. 4ur premium laundry

liuid technology was launched in ,ndia and ri 7anka and O.'with wash boosters* giving outstanding cleaning even

on a uick wash* was rolled out to #urkey and >ietnam. O.'with a touch o! 4'.!'rtwas launched in &hina whilst4'.!'rtanti8bacterial was launched in #hailand.

,n household care we also saw double digit growth which included the launch o! 4i!and D'.%st'sin 5raKil during the

uarter. ,n dishwash* a S-#i"htanti8bacterial range was launched in ,ndia and ,ndonesia and a S,%t'eco re!ill packwas launched in ,taly* providing environmental bene!its and attracting more users through a more a!!ordable !ormat.

&ore operating margin was up 10bps with stronger gross margins partly o!!set by higher advertising and promotions.

OPERATIONAL RE;IEW9 GEOGRAPHI4AL AREA

econd =uarter 2013 irst al! 2013

(unaudited) #urnover $ $> $' #urnover $ $> $'

&hange in

core

operatingmargin

?bn % % % ?bn % % % bps

U#i%,%r T'ta 13*3 )*0 3*0 2*0 2)*) )*0 2*/ 2*3 0

siaLHE#L$5 .@ A.2 .B 3.1 10.@ A.2 .6 3.@ 0#he mericas @.3 .2 1.A 3.2 B.@ .6 1.A 3.6 @0

Europe 3.6 (0.B) 0.@ (1.2) 6. (1.A) (0.B) (1.1) 30

AsiaAMETRUB

#he strong sales growth in the uarter was driven by healthy volume growth. 9e saw particularly good per!ormances

in ,ndonesia* >ietnam* 'akistan and &hina. !rica also delivered good growth despite increased levels o! competitive

activity and ustralia grew despite di!!icult markets. ,n ussia* the Falina brands continue to per!orm well.

&ore operating margin in the !irst hal! increased by 0bps driven by increased gross margin* partially o!!set by higher

advertising and promotions and higher overheads against a low prior year comparator.

Th% A.%ri7as

7atin merica posted an eighth uarter o! double digit growth with a good balance between volume and price whilst

Dorth merica declined by (2)% in the uarter. ,n $ hair care our share is up but sales were held back by trade stock

movements while at the same time we saw higher sales in 5raKil ahead o! a !orthcoming ' system change.

&ore operating margin was up @0bps with higher gross margin partly o!!set by increased advertising and promotions.

E-r'%

#he region delivered volume growth ahead o! our markets in the uarter. 9e continued to see that highly price8conscious consumers are reluctant to spend unless products o!!er good value !or money. #rading in the southern

countries remains depressed but we saw improving growth in &entral Europe.

&ore operating margin was up 30bps driven by higher gross margins* which re!lected strong savings programmes.


4/20

@

ADDITIONAL 4OMMENTARY ON THE FINAN4IAL STATEMENTS J FIRST HALF 2013

Fi#a#7% 7'sts a#$ ta:

#he cost o! !inancing net borrowings in the !irst hal! 2013 was ?21 million versus ?201 million in 2012. #he average

level o! net debt reduced whilst interest rate movements were marginally un!avourable the average interest rate on

borrowings was 3.B% and the average return on cash deposits was 3.0%. 'ensions !inancing* restated !or the impacto! the revision to the accounting standard,1A* was a debit o! ?1 million versus a debit o! ?@ million in the prior

year.

#he e!!ective ta- rate was 2.1%* higher than 26.1% in 2012 due to the impact o! business disposals. 4ur longer terme-pectation !or the ta- rate remains around 26%.

'i#t ,%#t-r%s ass'7iat%s a#$ 'th%r i#7'.% !r'. #'#7-rr%#t i#,%st.%#ts

Det pro!it !rom +oint ventures and associates* together with other income !rom non8current investments contributed?3 million compared with ?@A million in 2012. #he improvement was mainly due to the low prior year comparator

which contained the impairment o! warrants associated with the disposal o! the $ laundry business. #he share o!pro!its !rom +oint ventures was lower by ?B million primarily due to higher investment behind the Lit'#ready8to8drink tea brand.

Ear#i#"s %r shar%

&ore earnings per share in the !irst hal! was up @% to ?0.6. #his improvement was driven by the growth in core

operating pro!it partially o!!set by negative !oreign e-change movements. ,n constant currency* core earnings per

share increased by %. #his measure e-cludes the impact o! business disposals* acuisition and disposal relatedcosts* impairments and other one8o!! items.

ully diluted earnings per share !or the !irst hal! was up 1@% at ?0.B3* including the pro!it on disposal o! the kippy

brand.

P%#si'#s

#he net pension de!icit was ?2.@ billion at the end o!


5/20

4OMPETITION IN;ESTIGATIONS

s previously disclosed* along with other consumer products companies andLor retail customers* $nilever is involvedin a number o! ongoing investigations by national competition authorities. #hese proceedings and investigations are at

various stages and concern a variety o! product markets. Cespite recent developments in some o! these markets* it istoo early in the regulatory process to determine conclusively the outcome o! these matters or to reliably measure oure-posure. 9e continue to monitor developments and will make provisions as appropriate.

4ngoing compliance with competition laws is o! key importance to $nilever. ,t is $nileverGs policy to co8operate !ullywith competition authorities whenever uestions or issues arise. ,n addition the roup continues to rein!orce and

enhance its internal competition law compliance programme on an ongoing basis.

PRIN4IPAL RISK FA4TORS

4n pages 36 to @0 o! our 2012 eport and ccounts we set out our assessment o! the principal risk issues that would

!ace the business through 2013 under the headings consumer pre!erenceN competitionN port!olio managementNsustainabilityN customer relationshipsN peopleN supply chainN systems and in!ormationN business trans!ormationN

e-ternal economic and political risks* and natural disastersN !inancialN ethical and legal* regulatory and other risks. ,n

our view* the nature and potential impact o! such risks remain essentially unchanged as regards our per!ormanceover the second hal! o! 2013.

OTHER INFORMATION

#his document represents $nileverGs hal!8yearly report !or the purposes o! the Cisclosure and #ransparency ules(C#) issued by the $F inancial &onduct uthority (C# @.2) and the Cutch ct on inancial upervision* section

2d (B)L(A) (al!8yearly !inancial reports). ,n this conte-t (i) the condensed set o! !inancial statements can be !ound

on pages A to 1AN (ii) pages 2 to B comprise the interim management reportN and (iii) the CirectorsG responsibilitystatement can be !ound on page 20. Do material related parties transactions have taken place in the !irst si- months

o! the year.


6/20

6

NONGAAP MEASURES

,n our !inancial reporting we use certain measures that are not recognised under , or other generally acceptedaccounting principles ('). 9e do this because we believe that these measures are use!ul to investors and other

users o! our !inancial statements in helping them to understand underlying business per!ormance. 9herever we usesuch measures* we make clear that these are not intended as a substitute !or recognised ' measures. 9hereverappropriate and practical* we provide reconciliations to relevant ' measures. $nilever uses Jconstant rateG

JunderlyingG and JcoreG measures primarily !or internal per!ormance analysis and targeting purposes. #he non8'measures which we apply in our reporting are set out below.

U#$%r&i#" sa%s "r'(th olume rowth: or "$>: is part o! $ and means* !or the applicable period* the increase in turnover in

such period calculated as the sum o! (1) the increase in turnover attributable to the volume o! products soldN and (2)the increase in turnover attributable to the composition o! products sold during such period. $> there!ore e-cludesany impact to $ due to changes in prices. #he relationship between the two measures is set out in notes @ and .

Fr%% 7ash !'(


7/20

NONGAAP MEASURES (continued)

4'r% '%rati#" r'!it


8/20

B

4AUTIONARY STATEMENT

#his announcement may contain !orward8looking statements* including J!orward8looking statementsG within themeaning o! the $nited tates 'rivate ecurities 7itigation e!orm ct o! 1AA. 9ords such as JwillG* JaimG* Je-pectsG*

JanticipatesG* JintendsG* JlooksG* JbelievesG* JvisionG* or the negative o! these terms and other similar e-pressions o!!uture per!ormance or results* and their negatives* are intended to identi!y such !orward8looking statements. #hese!orward8looking statements are based upon current e-pectations and assumptions regarding anticipated

developments and other !actors a!!ecting the $nilever group (the "roup:). #hey are not historical !acts* nor are theyguarantees o! !uture per!ormance.

5ecause these !orward8looking statements involve risks and uncertainties* there are important !actors that could

cause actual results to di!!er materially !rom those e-pressed or implied by these !orward8looking statements.mong other risks and uncertainties* the material or principal !actors which could cause actual results to di!!er

materially are $nileverGs global brands not meeting consumer pre!erencesN increasing competitive pressuresN

$nileverGs investment choices in its port!olio managementN inability to !ind sustainable solutions to support long8termgrowthN customer relationshipsN the recruitment and retention o! talented employeesN disruptions in our supply chainN

the cost o! raw materials and commoditiesN secure and reliable ,# in!rastructureN success!ul e-ecution o! acuisitions*divestitures and business trans!ormation pro+ectsN economic and political risks and natural disastersN the debt crisis

in EuropeN !inancial risksN !ailure to meet high product sa!ety and ethical standardsN and managing regulatory* ta- and

legal matters. urther details o! potential risks and uncertainties a!!ecting the roup are described in the roupGs!ilings with the 7ondon tock E-change* DOE Eurone-t in msterdam and the $ ecurities and E-change

&ommission* including the roupGs nnual eport on orm 208 !or the year ended 31 Cecember 2012 and nnualeport and ccounts 2012. #hese !orward8looking statements speak only as o! the date o! this announcement. E-ceptas reuired by any applicable law or regulation* the roup e-pressly disclaims any obligation or undertaking to

release publicly any updates or revisions to any !orward8looking statements contained herein to re!lect any change in

the roupGs e-pectations with regard thereto or any change in events* conditions or circumstances on which any suchstatement is based.

ENUIRIES

M%$ia9Hedia elations #eam$F I@@ 20 B22 61A trevor.gorinPunilever.comD7 I31 10 21 @B@@ !lip.dotschPunilever.com

I#,%st'rs9,nvestor elations #eamI@@ 20 B22 6B30 investor.relationsPunilever.com

#here will be a web cast o! the results presentation available at

www.unilever.comLourcompanyLinvestorcentreLresultsLuarterlyresultsLde!ault.asp

#he web cast can also be viewed !rom the $nilever ,nvestor elations app which you can download !rom

httpLLitunes.apple.comLusLappLunilever8investor8centre8appLid@B3@030AQmtRB/ign8mptRuo%3C@


9/20

A

IN4OME STATEMENT

(unaudited)

.ii'# irst al!

20132012

(estated)

,ncreaseL(Cecrease)

&urrentrates

&onstantrates

T-r#',%r 2))00 2)3@ 0*+ 3*+

O%rati#" r'!it 3@2 323 1+ 1+

!ter (charging)Lcrediting non8core items 316 (3B)

N%t !i#a#7% 7'sts


10/20

10

STATEMENT OF 4HANGES IN EUITY

(unaudited)

.ii'# &alled upsharecapital

harepremiumaccount

4therreserves

etainedpro!it #otal

Don8controlling

interest#otal

euity

First ha! 2013

1


11/20

11

BALAN4E SHEET

(unaudited)

.ii'# s at30


12/20

12

4ASH FLOW STATEMENT

(unaudited)

.ii'# irst al!

2013 2012(estated)

Det pro!it 2*6B2 2*3A#a-ation A B1Bhare o! net pro!it o! +oint venturesLassociates and other income

!rom non8current investments (3) (@A)Det !inance costs 2B6 2

O%rati#" r'!it 3@2 323

Cepreciation* amortisation and impairment B3 B2&hanges in working capital (1*00@) (@BB)'ensions and similar obligations less payments (2@6) (1)

'rovisions less payments @3 3BElimination o! (pro!its)Llosses on disposals (32) (12B)Don8cash charge !or share8based compensation 121 66

4ther ad+ustments (1B) @4ash !'( !r'. '%rati#" a7ti,iti%s 2@@@ 330

,ncome ta- paid (BA@) (B01)

N%t 7ash !'( !r'. '%rati#" a7ti,iti%s 210) 2)3@

,nterest received @B B1

Det capital e-penditure (632) (B26)inancial assets related to acuisition o! non8controlling interest(see note 10) (@23) 84ther acuisitions and disposals 20 (A@)4ther investing activities (311) AA6

N%t 7ash !'(


13/20

13

NOTES TO THE FINAN4IAL STATEMENTS

(unaudited)

1 A44OUNTING INFORMATION AND POLI4IES

#he accounting policies and methods o! computation are in compliance with , 3@ J,nterim inancial eportingG and e-cept as set

out below are consistent with the year ended 31 Cecember 2012. #he condensed interim !inancial statements are based on,nternational inancial eporting tandards (,) as adopted by the E$ and , as issued by the ,nternational ccounting

tandards 5oard.

9ith e!!ect !rom 1


14/20

1@


(unaudited)

2 SIGNIFI4ANT ITEMS WITHIN THE IN4OME STATEMENT

,n our income statement reporting we disclose the total value o! non8core items that arise within operating pro!it. #hese are costs

and revenues relating to business disposals* acuisition and disposal related costs* impairments and other one8o!! items* which wecollectively term non8core items* due to their nature and !reuency o! occurrence.

.ii'# irst al!

2013 2012(estated)

cuisition and disposal related costs () (@B)ainL(loss) on disposal o! group companies 31 10,mpairments and other one8o! items 8 8

Don8core items be!ore ta- 316 (3B)#a- impact o! non8core items (123) 11Don8core items a!ter ta- 1A3 (2)Attri-ta% t'9Don8controlling interests 8 8hareholdersG euity 1A3 (2)

#he !ollowing table shows the impact o! non8core items on pro!it attributable to shareholders.

.ii'# irst al!

20132012

(estated)

Det pro!it attributable to shareholdersG euity 2*@2A 2*12

'ost ta- impact o! non8core items (1A3) 2

&ore pro!it attributable to shareholdersG euity 223/ 21)2

3 TAATION

#he e!!ective ta- rate !or the !irst hal! was 2.1% compared to 26.1% in 2012. #he ta- rate is calculated by dividing the ta- charge by

pre8ta- pro!it e-cluding the contribution o! +oint ventures and associates.

#a- e!!ects o! components o! other comprehensive income were as !ollows

.ii'# irst al! 2013 irst al! 2012

(estated)

5e!oreta-

#a-(charge)L

credit

!terta-

5e!oreta-

#a-(charge)L

credit

!terta-

air value gainsL(losses) on !inancialinstruments 10@ (11) A3 (@) (6A)

ctuarial gainsL(losses) on pension schemes 6A (11) 26 (B3) 1A2 (661)&urrency retranslation gainsL(losses) (16B) 6 (162) (20B) @ (20@)

4ther comprehensive income /33


15/20

1


(unaudited)

SEGMENT INFORMATION 4ATEGORIES

S%7'#$ -art%r'ersonal

&areoods e!reshment

ome

&are#otal

T-r#',%r (? million)2012 @*@ 3*63 3*06 2*1B0 13*2@2013 @*63 3*3A 2*AB6 2*33@ 13*336

&hange (%) @.1 (.1) (2.3) .0 0.6I.a7t '!9

E-change rates (%) (3.1) (2.0) (@.1) (2.B) (3.0)cuisitions (%) 8 8 8 8 8Cisposals (%) (0.2) (@.2) 8 (0.1) (1.2)

U#$%r&i#" sa%s "r'(th (%) 5*5 1*0 1*@ 10*2 )*0

'rice (%) 1.6 1.6 2. 2. 2.0

>olume (%) 6.0 (0.6) (0.) . 3.0

First Ha!'ersonal

&areoods e!reshment

ome&are

#otal

T-r#',%r (? million)2012 B*1 *131 *1@ @*3B 2*3AB

2013 A*03 6*3 *0B @*60A 2*00&hange (%) 3.A (.3) (1.) .3 [email protected] '!9

E-change rates (%) (3.6) (1.A) (3.6) (@.0) (3.2)cuisitions (%) 8 8 8 8 8

Cisposals (%) (0.2) (3.) (0.1) (0.1) (1.1)

U#$%r&i#" sa%s "r'(th (%) *0 0*2 2*1 @* )*0

'rice (%) 2.1 1.2 3.2 3.2 2.3>olume (%) .B (1.0) (1.1) 6.@ 2.6

O%rati#" r'!it (? million)2012 (restated) 1*@0 1*262 3B 21B 3*@232013 1*@A6 1*20 301 3*BA2

4'r% '%rati#" r'!it (? million)2012 (restated) 1*@@ 1*262 3B 21@ 3*@61

2013 1*23 1*1 6 302 3*6

O%rati#" .ar"i# (%)2012 (restated) 16.1 1. 10.@ .0 13.2013 16. 22. 11.3 6. 1.3

4'r% '%rati#" .ar"i# (%)2012 (restated) 16.6 1. 10.@ @.A 13.62013 16.B 1.@ 11.3 6.6 [email protected]

#urnover growth e-pressed as a percentage in any period represents the percentage increase (decrease) in turnover !rom period8to8period measured by underlying sales growth percentage multiplied by the percentage e!!ect o! acuisitions* disposals ande-change rates on a compound basis.

&ore operating pro!it represents our measure o! segment pro!it or loss as it is the primary measure used !or the purpose o!making decisions about allocating resources and assessing per!ormance o! segments. &ore operating pro!it is calculated asturnover multiplied by core operating margin.


16/20

16


(unaudited)

) SEGMENT INFORMATION J GEOGRAPHI4AL AREA

S%7'#$ -art%r

sia LHE# L

$5

#hemericas

Europe #otal

T-r#',%r (? million)2012 *1@ @*3BB 3*12 13*2@2013 *3 @*32 3*63@ 13*336

&hange (%) @.3 (1.@) (2.1) 0.6I.a7t '!9

E-change rates (%) (@.2) (3.@) (0.B) (3.0)cuisitions (%) 8 8 8 8Cisposals (%) (0.2) (3.0) (0.6) (1.2)

U#$%r&i#" sa%s "r'(th (%) @*2 )*2


17/20

1


(unaudited)

) SEGMENT INFORMATION J GEOGRAPHI4AL AREA (continued)

A$$iti'#a "%'"rahi7a i#!'r.ati'#

irst al! 2013 irst al! 2012

#urnover $ $> $' #urnover $ $> $'

?m % % % ?m % % %

U#i%,%r T'ta 2))00 )*0 2*/ 2*3 2)3@ 5*0 2* *1

Ceveloped markets 10*A33 (1.6) (0.B) (0.B) 11*0 1.A (0.1) 2.0

Emerging markets 1@*6 10.3 . @.6 13*B@B 11.@ .@ .B

irst al! 2013 irst al! 2012

#urnover $ $> $' #urnover $ $> $'

?m % % % ?m % % %

Th% A.%ri7as 3)) )*/ 1*@ 3*/ 5@ 5*5 2*0 )*/

Dorth merica @*1@2 (0.A) (1.0) 0.1 @*@1 @.1 (0.) @.6

7atin merica @*213 12.6 .1 .2 @*00B 11.6 @. 6.6

/ 4OMBINED EARNINGS PER SHARE

#he combined earnings per share calculations are based on the average number o! share units representing the combined

ordinary shares o! D> and '7& in issue during the period* less the average number o! shares held as treasury stock.

,n calculating diluted earnings per share and core earnings per share* a number o! ad+ustments are made to the number o! shares*principally (i) conversion into '7& ordinary shares in the year 203B o! shares in a group company under the arrangements !or the

variation o! the 7everhulme #rust and (ii) the e-ercise o! share options by employees.

Earnings per share !or total operations !or the si- months were calculated as !ollows

2013 2012(estated)

4'.i#%$ EPS J Basi7

Det pro!it attributable to shareholdersG euity (? million) 2*@2A 2*12

verage number o! combined share units (millions o! units) 2*B36.B 2*B26.A

&ombined E' S basic (?) 0.B6 0.

4'.i#%$ EPS J Di-t%$

Det pro!it attributable to shareholdersG euity (? million) 2*@2A 2*12

d+usted average number o! combined share units (millions o! units) 2*A2.6 2*A16.B

&ombined E' S diluted (?) 0.B3 0.3

4'r% EPS

&ore pro!it attributable to shareholdersG euity (see note 2) (? million) 2*236 2*12

d+usted average number o! combined share units (millions o! units) 2*A2.6 2*A16.B

&ore E' S diluted (?) 0.6 0.@

,n calculating core earnings per share* net pro!it attributable to shareholdersG euity is ad+usted to eliminate the post ta- impact o!business disposals* acuisition and disposals and related costs* impairments* and other one8o!! items.


18/20

1B


(unaudited)

/ 4OMBINED EARNINGS PER SHARE (continued)

Curing the period the !ollowing movements in shares have taken place

Hillions

Dumber o! shares at 31 Cecember 2012 (net o! treasury stock) 2*B31.B

Det movements in shares under incentive schemes .1

Dumber o! shares at 30


19/20

1A


(unaudited)

@ DI;IDENDS

#he 5oards have declared a uarterly interim dividend !or =2 2013 at the !ollowing rates which are euivalent in value at the rate o!e-change applied under the terms o! the Eualisation greement between the two companies

'er $nilever D.>. ordinary share ? 0.26A0

'er $nilever '7& ordinary share T 0.2312

'er $nilever D.>. Dew Oork share $M 0.3@

'er $nilever '7& merican Cepositary eceipt $M 0.3@

#he uarterly interim dividends have been determined in euros and converted into euivalent sterling and $ dollar amounts usinge-change rates issued by the European &entral 5ank on 23


20/20

RESPONSIBILITIES OF DIRE4TORS

#he Cirectors declare that* to the best o! their knowledge

this condensed set o! interim !inancial statements* which have been prepared in accordance with , 3@ J,nterim inancialeportingG* gives a true and !air view o! the assets* liabilities* !inancial position and pro!it or loss o! $nileverN and

the interim management report gives a !air review o! the in!ormation reuired pursuant to $F C# regulations @.2. [email protected] and section 2d (B)L(A) o! the Cutch ct on inancial upervision (9et op het !inancieel toeKicht).

$nileverGs Cirectors are listed in the nnual eport and ccounts !or 2012* with the e-ception o! certain changes !ollowing the$nilever D.>. and $nilever '7& Hs

unil 5harti Hittal retired as a Don8e-ecutive Cirector on 1 Hay 2013 7aura &ha became a Don8e-ecutive Cirector on 1 Hay 2013 Hary Ha became a Don8e-ecutive Cirector on 1 Hay 2013

ir q2 2013 full announcement tcm13-364996

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