Brinks (BCO) FY2013 results: revenue $3.8 billion, up 5.6% on the year
Brinks Co. (BCO) reported revenue of $3.8 billion for fiscal 2013, the year ended 31 December 2013, up 5.6% on the year before. Net income was $57 million, down 36.1%, and diluted earnings per share $1.16. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2014.
Revenue
$3.8 billion
+5.6% on the year
FY2008FY2013
Operating margin
4.3%
4.5% a year earlier
FY2008FY2013
Net income
$57 million
-36.1% on the year
FY2008FY2013
Diluted EPS
$1.16
-36.6% 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
3,779
3,578
3,663
+5.6%
Cost of revenue
3,059
2,894
2,966
+5.7%
Gross profit
719
683
697
+5.3%
Gross margin
19.0%
19.1%
19.0%
Operating income
163
162
202
+0.6%
Operating margin
4.3%
4.5%
5.5%
Interest expense
25.1
23.1
23.1
+8.7%
Pre-tax income
140
146
188
-4.4%
Income tax
49.3
23.0
64.0
+114.3%
Effective tax rate
35.3%
15.7%
34.0%
Net income
56.8
88.9
74.5
-36.1%
Net margin
1.5%
2.5%
2.0%
Diluted EPS
$1.16
$1.83
$1.55
-36.6%
$ 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
202
250
247
-19.6%
Capital expenditure
173
171
184
+1.2%
Free cash flow
28.6
79.6
63.3
-64.1%
Free cash flow margin
0.8%
2.2%
1.7%
Cash from investing
-123
-167
-172
Cash from financing
-6.0
-68.0
-67.2
Depreciation and amortisation
166
148
148
+11.7%
Share-based compensation
9.9
8.0
6.2
+23.8%
Buybacks
0.0
0.0
0.0
Dividends paid
19.2
19.0
18.7
+1.1%
Dividend per share
$0.40
$0.40
$0.40
0.0%
Diluted shares, weighted
49m
49m
48m
+0.8%
Shares outstanding at period end
48m
48m
47m
+1.3%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
694
502
408
+38.3%
Non-controlling interest
85.6
75.0
74.4
+14.1%
Debt
436
389
389
+12.0%
Other liabilities
1,282
1,588
1,534
-19.2%
Total liabilities and equity
2,498
2,554
2,406
-2.2%
Fixed assets
759
794
749
-4.4%
Goodwill
240
244
231
-1.5%
Intangible assets
46.3
56.1
63.8
-17.5%
Cash and equivalents
256
202
183
+26.7%
Receivables
622
612
550
+1.6%
Other assets
575
646
628
-11.0%
Total assets
2,498
2,554
2,406
-2.2%
10-K for the year ended 31 December 2013, filed 28 February 2014: the filing.