AES (AES) FY2014 results: revenue $16.1 billion, up 1.5% on the year
AES Corp. (AES) reported revenue of $16.1 billion for fiscal 2014, the year ended 31 December 2014, up 1.5% on the year before. Net income was $769 million, up 574.6%, and diluted earnings per share $1.06. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2015.
Revenue
$16.1 billion
+1.5% on the year
FY2009FY2014
Operating margin
n/a
FY2009FY2014
Net income
$769 million
+574.6% on the year
FY2009FY2014
Diluted EPS
$1.06
+606.7% on the year
FY2009FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
16,124
15,891
17,164
+1.5%
Gross profit
2,980
3,247
3,583
-8.2%
Gross margin
18.5%
20.4%
20.9%
Interest expense
1,451
1,482
1,544
-2.1%
Pre-tax income
578
1,048
230
-44.8%
Income tax
371
343
685
+8.2%
Effective tax rate
64.2%
32.7%
297.8%
Net income
769
114
-912
+574.6%
Net margin
4.8%
0.7%
-5.3%
Diluted EPS
$1.06
$0.15
-$1.21
+606.7%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
1,791
2,715
2,901
-34.0%
Capital expenditure
2,016
1,988
2,108
+1.4%
Free cash flow
-225
727
793
Free cash flow margin
-1.4%
4.6%
4.6%
Cash from investing
-656
-1,774
-895
Cash from financing
-1,262
-1,136
-1,867
Depreciation and amortisation
1,245
1,294
1,394
-3.8%
Buybacks
308
322
301
-4.3%
Dividends paid
144
119
30.0
+21.0%
Dividend per share
$0.25
$0.17
$0.08
+47.1%
Diluted shares, weighted
724m
748m
755m
-3.2%
Shares outstanding at period end
704m
723m
744m
-2.6%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
4,272
4,330
4,569
-1.3%
Non-controlling interest
3,053
3,321
2,945
-8.1%
Redeemable equity
78.0
78.0
n/a
0.0%
Debt
n/a
21,049
20,721
Other liabilities
31,159
11,633
13,595
+167.9%
Total liabilities and equity
38,562
40,411
41,830
-4.6%
Fixed assets
25,151
25,112
24,635
+0.2%
Goodwill
1,458
1,622
1,999
-10.1%
Intangible assets
281
297
324
-5.4%
Investments
709
668
693
+6.1%
Trading assets
15.0
13.0
12.0
+15.4%
Cash and equivalents
1,517
1,642
1,900
-7.6%
Receivables
2,709
2,363
2,539
+14.6%
Inventory
702
684
719
+2.6%
Other assets
6,020
8,010
9,009
-24.8%
Total assets
38,562
40,411
41,830
-4.6%
10-K for the year ended 31 December 2014, filed 26 February 2015: the filing.