EX-7.1 4 d61872dex71.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
2015
    € million
2014
    € million
2013
    € million
2012
(Restated)
    € million
2011
(Restated)
 

Earnings

          

Net profit

     5,259        5,515        5,263        4,836        4,491   

Add: Taxation

     1,961        2,131        1,851        1,697        1,575   

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

     (107     (98     (113     (105     (113

Add: Dividend income receivable from joint ventures and associates

     124        131        110        119        111   

Add: Fixed charges

     694        678        663        712        691   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
     7,931        8,357        7,774        7,259        6,755   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Fixed charges

          

Finance costs

     516        500        500        526        540   

Add: One-third of lease costs

     178        178        163        186        151   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
     694        678        663        712        691   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Ratio of earnings to fixed charges (times)

     11.4        12.3        11.7        10.2        9.8