Albemarle (ALB) FY2014 results: revenue $2.4 billion, up 2.1% on the year
Albemarle Corp. (ALB) reported revenue of $2.4 billion for fiscal 2014, the year ended 31 December 2014, up 2.1% on the year before. Net income was $133 million, down 67.7%, and diluted earnings per share $1.69. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2015.
Revenue
$2.4 billion
+2.1% on the year
FY2008FY2014
Operating margin
11.1%
24.1% a year earlier
FY2008FY2014
Net income
$133 million
-67.7% on the year
FY2008FY2014
Diluted EPS
$1.69
-65.5% on the year
FY2008FY2014
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
2,446
2,394
2,519
+2.1%
Cost of revenue
1,675
1,544
1,620
+8.5%
Gross profit
771
850
899
-9.4%
Gross margin
31.5%
35.5%
35.7%
Research and development
88.3
82.2
78.9
+7.4%
Selling, general and administrative
355
158
308
+124.5%
Operating income
271
577
400
-53.0%
Operating margin
11.1%
24.1%
15.9%
Pre-tax income
539
534
661
+1.0%
Income tax
18.5
134
80.4
-86.3%
Effective tax rate
3.4%
25.2%
12.2%
Net income
133
413
312
-67.7%
Net margin
5.5%
17.3%
12.4%
Diluted EPS
$1.69
$4.90
$3.47
-65.5%
$ 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
493
433
489
+13.8%
Capital expenditure
111
155
281
-28.8%
Free cash flow
382
278
208
+37.7%
Free cash flow margin
15.6%
11.6%
8.3%
Cash from investing
-46.1
-158
-301
Cash from financing
1,609
-288
-177
Depreciation and amortisation
104
107
99.0
-3.5%
Share-based compensation
14.3
10.2
15.2
+40.4%
Buybacks
150
582
63.6
-74.2%
Dividends paid
84.1
78.1
69.1
+7.7%
Dividend per share
$1.10
$0.96
$0.80
+14.6%
Diluted shares, weighted
79m
84m
90m
-6.2%
Shares outstanding at period end
78m
80m
89m
-2.5%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
1,359
1,627
1,834
-16.5%
Non-controlling interest
129
115
98.4
+11.9%
Debt
2,934
1,079
699
+172.0%
Other liabilities
780
763
806
+2.2%
Total liabilities and equity
5,202
3,585
3,437
+45.1%
Fixed assets
1,232
1,357
1,297
-9.2%
Goodwill
243
284
277
-14.4%
Intangible assets
44.1
88.2
94.5
-50.0%
Investments
24.0
23.8
20.3
+0.7%
Cash and equivalents
2,490
477
478
+421.7%
Receivables
385
447
379
-13.8%
Inventory
358
436
428
-17.8%
Other assets
426
471
464
-9.7%
Total assets
5,202
3,585
3,437
+45.1%
10-K for the year ended 31 December 2014, filed 2 March 2015: the filing.