Bunge Global SA (BG) FY2014 results: revenue $57.2 billion, down 6.8% on the year
Bunge Global SA (BG) reported revenue of $57.2 billion for fiscal 2014, the year ended 31 December 2014, down 6.8% on the year before. Net income was $515 million, up 68.3%, and diluted earnings per share $3.17. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2015.
Revenue
$57.2 billion
-6.8% on the year
FY2007FY2014
Operating margin
n/a
FY2007FY2014
Net income
$515 million
+68.3% on the year
FY2007FY2014
Diluted EPS
$3.17
+104.5% on the year
FY2007FY2014
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
57,161
61,347
60,991
-6.8%
Cost of revenue
54,540
58,587
58,418
-6.9%
Gross profit
2,621
2,760
2,573
-5.0%
Gross margin
4.6%
4.5%
4.2%
Research and development
20.0
19.0
19.0
+5.3%
Selling, general and administrative
1,691
1,559
1,563
+8.5%
Interest expense
347
363
294
-4.4%
Pre-tax income
734
1,014
372
-27.6%
Income tax
249
904
-6.0
-72.5%
Effective tax rate
33.9%
89.2%
-1.6%
Net income
515
306
64.0
+68.3%
Net margin
0.9%
0.5%
0.1%
Diluted EPS
$3.17
$1.55
$0.19
+104.5%
$ 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
1,399
2,225
-457
-37.1%
Capital expenditure
839
1,042
1,095
-19.5%
Free cash flow
560
1,183
-1,552
-52.7%
Free cash flow margin
1.0%
1.9%
-2.5%
Cash from investing
-685
-429
-967
Cash from financing
-1,058
-1,565
1,206
Depreciation and amortisation
607
568
570
+6.9%
Share-based compensation
49.0
53.0
44.0
-7.5%
Buybacks
300
n/a
n/a
Dividends paid
187
167
151
+12.0%
Diluted shares, weighted
147m
148m
147m
-0.7%
Shares outstanding at period end
146m
148m
146m
-1.4%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
8,446
9,857
10,862
-14.3%
Non-controlling interest
244
231
393
+5.6%
Short-term borrowings
594
703
1,598
-15.5%
Debt
3,263
3,941
4,251
-17.2%
Other liabilities
8,885
12,049
10,176
-26.3%
Total liabilities and equity
21,432
26,781
27,280
-20.0%
Fixed assets
5,626
6,075
5,888
-7.4%
Goodwill
349
392
351
-11.0%
Intangible assets
256
326
295
-21.5%
Investments
230
162
105
+42.0%
Trading assets
110
n/a
n/a
Cash and equivalents
362
n/a
n/a
Receivables
1,840
2,144
2,471
-14.2%
Inventory
5,554
5,796
6,590
-4.2%
Other assets
7,105
11,886
11,580
-40.2%
Total assets
21,432
26,781
27,280
-20.0%
10-K for the year ended 31 December 2014, filed 2 March 2015: the filing.