AES (AES) FY2019 results: revenue $10.2 billion, down 5.1% on the year
AES Corp. (AES) reported revenue of $10.2 billion for fiscal 2019, the year ended 31 December 2019, down 5.1% on the year before. Net income was $303 million, down 74.8%, and diluted earnings per share $0.45. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2020.
Revenue
$10.2 billion
-5.1% on the year
FY2012FY2019
Operating margin
n/a
FY2012FY2019
Net income
$303 million
-74.8% on the year
FY2012FY2019
Diluted EPS
$0.45
-75.1% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
10,189
10,736
10,530
-5.1%
Cost of revenue
7,840
8,163
8,065
-4.0%
Gross profit
2,349
2,573
2,464
-8.7%
Gross margin
23.1%
24.0%
23.4%
Interest expense
1,050
1,056
1,170
-0.6%
Pre-tax income
-277
-509
-521
Income tax
352
708
990
-50.3%
Net income
303
1,203
-1,161
-74.8%
Net margin
3.0%
11.2%
-11.0%
Diluted EPS
$0.45
$1.81
-$1.76
-75.1%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
2,466
2,343
2,504
+5.2%
Capital expenditure
2,405
2,121
2,177
+13.4%
Free cash flow
61.0
222
327
-72.5%
Free cash flow margin
0.6%
2.1%
3.1%
Cash from investing
-2,721
-505
-2,599
Cash from financing
-86.0
-1,643
43.0
Depreciation and amortisation
1,045
1,003
1,169
+4.2%
Share-based compensation
22.0
20.0
8.0
+10.0%
Buybacks
n/a
0.0
0.0
Dividends paid
362
344
317
+5.2%
Dividend per share
$0.55
$0.53
$0.49
+4.3%
Diluted shares, weighted
667m
665m
660m
+0.3%
Shares outstanding at period end
664m
662m
660m
+0.2%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
2,996
3,208
2,465
-6.6%
Non-controlling interest
2,233
2,396
2,380
-6.8%
Redeemable equity
888
879
837
+1.0%
Debt
20,173
19,295
19,965
+4.6%
Operating lease liabilities
261
n/a
n/a
Finance lease liabilities
67.0
n/a
n/a
Other liabilities
7,030
6,743
7,465
+4.3%
Total liabilities and equity
33,648
32,521
33,112
+3.5%
Fixed assets
22,574
21,396
20,296
+5.5%
Goodwill
1,059
1,059
1,059
0.0%
Intangible assets
469
436
366
+7.6%
Investments
400
313
424
+27.8%
Cash and equivalents
1,029
1,166
949
-11.7%
Receivables
1,479
1,595
1,463
-7.3%
Inventory
487
577
562
-15.6%
Other assets
6,151
5,979
7,993
+2.9%
Total assets
33,648
32,521
33,112
+3.5%
10-K for the year ended 31 December 2019, filed 28 February 2020: the filing.