Albemarle (ALB) FY2013 results: revenue $2.4 billion, down 5.0% on the year
Albemarle Corp. (ALB) reported revenue of $2.4 billion for fiscal 2013, the year ended 31 December 2013, down 5.0% on the year before. Net income was $413 million, up 32.6%, and diluted earnings per share $4.90. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2014.
Revenue
$2.4 billion
-5.0% on the year
FY2008FY2013
Operating margin
24.1%
15.9% a year earlier
FY2008FY2013
Net income
$413 million
+32.6% on the year
FY2008FY2013
Diluted EPS
$4.90
+41.2% on the year
FY2008FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
2,394
2,519
2,652
-5.0%
Cost of revenue
1,544
1,620
1,700
-4.7%
Gross profit
850
899
952
-5.4%
Gross margin
35.5%
35.7%
35.9%
Research and development
82.2
78.9
77.1
+4.2%
Selling, general and administrative
158
308
355
-48.7%
Operating income
577
400
520
+44.2%
Operating margin
24.1%
15.9%
19.6%
Pre-tax income
534
661
720
-19.3%
Income tax
134
80.4
104
+67.2%
Effective tax rate
25.2%
12.2%
14.5%
Net income
413
312
392
+32.6%
Net margin
17.3%
12.4%
14.8%
Diluted EPS
$4.90
$3.47
$4.28
+41.2%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
433
489
487
-11.4%
Capital expenditure
155
281
191
-44.7%
Free cash flow
278
208
297
+33.5%
Free cash flow margin
11.6%
8.3%
11.2%
Cash from investing
-158
-301
-213
Cash from financing
-288
-177
-329
Depreciation and amortisation
107
99.0
96.8
+8.4%
Share-based compensation
10.2
15.2
27.1
-33.2%
Buybacks
582
63.6
178
+815.9%
Dividends paid
78.1
69.1
57.8
+13.0%
Dividend per share
$0.96
$0.80
$0.67
+20.0%
Diluted shares, weighted
84m
90m
92m
-6.2%
Shares outstanding at period end
80m
89m
89m
-10.0%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
1,627
1,834
1,591
-11.2%
Non-controlling interest
115
98.4
87.5
+17.3%
Debt
1,079
699
764
+54.3%
Other liabilities
763
806
761
-5.3%
Total liabilities and equity
3,585
3,437
3,204
+4.3%
Fixed assets
1,357
1,297
1,129
+4.7%
Goodwill
284
277
273
+2.6%
Intangible assets
88.2
94.5
130
-6.6%
Investments
23.8
20.3
16.8
+17.3%
Cash and equivalents
477
478
469
-0.1%
Receivables
447
379
355
+17.9%
Inventory
436
428
431
+1.8%
Other assets
471
464
398
+1.5%
Total assets
3,585
3,437
3,204
+4.3%
10-K for the year ended 31 December 2013, filed 25 February 2014: the filing.