Meeting everyday needs of people everywhere - Unilever

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Unilever Group Notes to the consolidated accounts 25 Acquisition and disposal of group companies (continued) 0000§0000000000001111 Fl. million 00000000051 1999 1998 1997 05111 01115 511111115115111111151105111 Speciality chemicals Total Total businesses Other Total 000000511101115 01115 0115 5111111115 015111 Disposals Intangible assets 4 — — — — Fixed assets 114 161 3 951 591 4 542 Current assets 101 102 3 069 792 3 861 Creditors (45) (46) (1 141) (384) (1 525) Provisions for liabilities and charges: Pensions and similar obligations (17) (3) (365) (145) (510) Deferred taxation (5) (3) (432) 3 (429) Other provisions (1) 16 214 63 277 Minority interests 20 (33) 27 (1) 26 01115 01115 511111115 5111111115 051111 Net assets sold 171 194 5 323 919 6 242 Attributable goodwill 83 187 1 730 394 2 124 Profit on sale attributable to Unilever 40 1 079 8 419 (95) 8 324 01115 01115 0115 5111111115 51111111115 Consideration 294 1 460 15 472 1 218 16 690 01115 01115 0115 5111111115 105111 Of which: Cash 27 270 1 460 15 257 1 126 16 383 Cash balances of businesses sold 27 7 4 (77) 93 16 Current investments, cash deposits and borrowings of businesses sold 10 (4) 292 (1) 291 Non cash and deferred consideration 7 — — — — 0000§0000000000001111 26 Reconciliation of operating profit to operating cash flows 0000§0000000000001111 Fl. million 000000051 1999 1998 1997 05111 0511 000511 Continuing Discontinued Total Total businesses operations 0000005111011151101115 0115 01115 01115 Operating profit 9 482 9 718 7 049 514 Depreciation and amortisation 2 529 2 068 2 188 148 Changes in working capital: Stocks 41 (940) 259 (8) Debtors (373) (493) (331) (151) Creditors 587 386 901 (29) Pensions and similar provisions less payments 400 116 (7) 17 Restructuring and other provisions less payments (417) (101) 1 258 57 Other adjustments 211 (806) 376 8 01115 0115 01115 05111 Cash flow from operating activities 12 460 9 948 11 693 556 01115 0115 01115 05111 In 1999 a charge of Fl. 594 million was booked in operating profit for exceptional items of which Fl. 512 million was charged for restructuring projects, and a net Fl. 7 million for losses on disposal of businesses. Other exceptional items comprised primarily legal and insurance settlements and amounted to Fl. 75 million. The cash inflow relating to exceptional disposals and other items was Fl. 167,million all of which was received in 1999. The net cash outflow in respect of the restructuring costs is estimated at Fl. 308 million. This comprises Fl. 248 million in respect of employee compensation costs and Fl. 80 million of other related costs less proceeds of disposal of fixed assets of Fl. 20 million. Of these cash flows, Fl. 238 million arose in 1999 and Fl. 70 million is expected in 2000 and later years. 0000§0000000000001111
Unilever Group Notes to the consolidated accounts 27 Analysis of cash flows for headings netted in the cash flow statement 00000000000000001111 Fl. million 000005111 1999 1998 1997 00000000005105111 05111 05111 Returns on investments and servicing of finance Dividends from other fixed investments 21 15 27 Interest received 706 1 521 730 Interest paid (832) (1 098) (1 160) Preference dividend paid (31) (15) (15) Dividends and other payments to minority shareholders (208) (275) (390) 05111 05111 05111 (344) 148 (808) 05111 05111 05111 Capital expenditure and financial investment Purchase of tangible fixed assets (2 894) (2 934) (3 038) Disposal of tangible fixed assets 143 172 309 Acquisition/disposal of fixed investments 26 (2) 27 Purchase of own shares (employee share schemes) (582) (319) (72) 05111 05111 05111 (3 307) (3 083) (2 774) 05111 05111 05111 In 1997 discontinued speciality chemicals businesses accounted for Fl. 249 million of net capital expenditure and Fl. 117 million of taxation. In addition, payments of approximately Fl. 1 300 million were made during 1997 in respect of taxation on the profit on disposal of these businesses. Acquisitions and disposals Acquisition of group companies 25 (1 064) (747) (2 941) Cash balances of businesses acquired 25 43 35 65 Consideration paid in respect of acquisitions made in previous years (55) — — Disposal of group companies 25 270 1 460 16 383 Speciality chemicals businesses — — 15 257 Other disposals 270 1 460 1 126 Cash balances of businesses sold 25 7 (4) 16 Speciality chemicals businesses — — (77) Other disposals 7 (4) 93 Consideration received in respect of disposals made in previous years — — 226 05111 05111 05111 (799) 744 13 749 05111 05111 05111 Management of liquid resources Purchase of current investments (985) (3 618) (7 177) Sale of current investments 8 860 640 38 (Increase)/decrease in cash on deposit 4 634 (1 435) (6 983) 05111 05111 05111 12 509 (4 413) (14 122) 05111 05111 05111 Financing Issue of ordinary share capital (employee share schemes) — — 1 Issue of shares by group companies to minority shareholders 10 37 94 Debt due within one year: Increases 419 1 129 1 584 Repayments (861) (1 102) (3 199) Debt after one year: Increases 136 79 188 Repayments (26) (51) (185) 05111 05111 05111 (322) 92 (1 517) 05111 05111 05111 Included as liquid resources are term deposits of less than one year, government securities and A- or higher rated money and capital market instruments. 00000000000000001111
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Unilever N.V. 1999 Annual Report on
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1 Unilever Annual Report on Form 20
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Financial highlights • Excellent
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Chairmen’s Statement The principa
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Selected financial data Consolidate
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Selected financial data By geograph
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About Unilever History and structur
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Page 37 and 38: Financial review The figures quoted
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Meeting everyday needs of people everywhere - Unilever

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