Ares Management (ARES) FY2013 results: revenue $479 million, up 43.3% on the year

Ares Management Corp. (ARES) reported revenue of $479 million for fiscal 2013, the year ended 31 December 2013, up 43.3% on the year before. Net income was $813 million, down 34.2%. The figures are the company's own, from the 10-K it filed with the SEC on 20 March 2015.

Revenue

$479 million

+43.3% on the year

FY2012FY2013

Operating margin

-67.5%

-127.1% a year earlier

FY2012FY2013

Net income

$813 million

-34.2% on the year

FY2012FY2013

Diluted EPS

n/a

FY2012FY2013

this yearthe year beforeHover a bar for its figure.

The year in brief

Income statement (profit and loss)

$ million	FY2013	FY2012	On the year
Revenue	479	334	+43.3%
Operating income	-323	-424
Operating margin	-67.5%	-127.1%
Pre-tax income	873	1,262	-30.8%
Income tax	59.3	26.2	+126.6%
Effective tax rate	6.8%	2.1%
Net income	813	1,236	-34.2%
Net margin	169.9%	369.9%

$ million except per share.

Free 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	On the year	Last 8 years
Depreciation and amortisation	40.7	n/a
Share-based compensation	28.8	52.0	-44.6%

Balance sheet

$ million	FY2013	FY2012	On the year
Shareholders' equity	6,541	n/a
Debt	2,547	n/a
Other liabilities	14,618	n/a
Total liabilities and equity	23,705	n/a
Goodwill	58.2	n/a
Intangible assets	68.7	n/a
Cash and equivalents	89.8	n/a
Other assets	23,489	24,496	-4.1%
Total assets	23,705	24,496	-3.2%

10-K for the year ended 31 December 2013, filed 20 March 2015: the filing.