Criteo (CRTO) FY2019 results: revenue $2.3 billion, down 1.7% on the year
Criteo S.A. (CRTO) reported revenue of $2.3 billion for fiscal 2019, the year ended 31 December 2019, down 1.7% on the year before. Net income was $91 million, up 2.4%, and diluted earnings per share $1.38. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2020.
Revenue
$2.3 billion
-1.7% on the year
FY2014FY2019
Operating margin
6.2%
6.4% a year earlier
FY2014FY2019
Net income
$91 million
+2.4% on the year
FY2014FY2019
Diluted EPS
$1.38
+5.3% on the year
FY2014FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
2,262
2,300
2,297
-1.7%
Cost of revenue
1,432
1,466
1,477
-2.3%
Gross profit
829
834
819
-0.6%
Gross margin
36.7%
36.3%
35.7%
Research and development
173
179
174
-3.7%
Operating income
141
147
138
-4.0%
Operating margin
6.2%
6.4%
6.0%
Interest expense
2.4
2.1
2.9
+13.1%
Pre-tax income
135
142
128
-4.6%
Income tax
39.5
46.1
31.7
-14.4%
Effective tax rate
29.2%
32.5%
24.7%
Net income
90.7
88.6
91.2
+2.4%
Net margin
4.0%
3.9%
4.0%
Diluted EPS
$1.38
$1.31
$1.34
+5.3%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
223
261
245
-14.5%
Cash from investing
-104
-227
-106
Cash from financing
-59.1
-62.7
-29.5
Depreciation and amortisation
93.5
104
93.2
-9.7%
Share-based compensation
41.0
66.6
71.6
-38.4%
Buybacks
58.6
80.0
0.0
-26.8%
Diluted shares, weighted
66m
68m
68m
-3.1%
Shares outstanding at period end
66m
68m
66m
-2.2%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,007
944
882
+6.7%
Non-controlling interest
30.7
24.2
16.2
+26.8%
Debt
2.1
2.9
2.8
-28.1%
Operating lease liabilities
118
0.0
n/a
Other liabilities
632
626
631
+1.0%
Total liabilities and equity
1,790
1,597
1,531
+12.1%
Fixed assets
194
184
162
+5.5%
Goodwill
317
313
237
+1.3%
Intangible assets
86.9
112
96.2
-22.4%
Investments
0.0
n/a
n/a
Cash and equivalents
419
364
414
+14.9%
Receivables
482
474
484
+1.7%
Other assets
292
150
138
+94.7%
Total assets
1,790
1,597
1,531
+12.1%
10-K for the year ended 31 December 2019, filed 2 March 2020: the filing.