EX-7.1 4 d305877dex71.htm EX-7.1 EX-7.1

Exhibit 7.1

Calculation of Ratio of Earnings to Fixed Charges (times)

The ratio of earnings to fixed charges is determined using the following applicable factors:

Earnings available for fixed charges are calculated, first, by determining the sum of: (a) net profit before taxation and the Unilever Group’s share of net profit/(loss) of joint ventures and associates; (b) dividend income receivable from joint ventures and associates; and (c) fixed charges, as defined below.

Fixed charges are calculated as the sum of: (a) finance costs (both expensed and capitalized); and (b) one-third of lease costs (e.g., that portion of rental expense that is representative of the interest factor).

 

Earnings to Fixed Charges

   € million
2016
    € million
2015
    € million
2014
    € million
2013
    € million
2012
 

Earnings

          

Net profit

     5,547       5,259       5,515       5,263       4,836  

Add: Taxation

     1,922       1,961       2,131       1,851       1,697  

(Less)/Add: Share of net profit/(loss) of joint ventures and associates

     (127     (107     (98     (113     (105

Add: Dividend income receivable from joint ventures and associates

     144       124       131       110       119  

Add: Fixed charges

     761       694       678       663       712  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
     8,247       7,931       8,357       7,774       7,259  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Fixed charges

          

Finance costs

     584       516       500       500       526  

Add: One-third of lease costs

     177       178       178       163       186  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
     761       694       678       663       712  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Ratio of earnings to fixed charges (times)

     10.8       11.4       12.3       11.7       10.2