Criteo (CRTO) FY2020 results: revenue $2.1 billion, down 8.4% on the year
Criteo S.A. (CRTO) reported revenue of $2.1 billion for fiscal 2020, the year ended 31 December 2020, down 8.4% on the year before. Net income was $72 million, down 21.0%, and diluted earnings per share $1.16. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2021.
Revenue
$2.1 billion
-8.4% on the year
FY2014FY2020
Operating margin
5.3%
6.2% a year earlier
FY2014FY2020
Net income
$72 million
-21.0% on the year
FY2014FY2020
Diluted EPS
$1.16
-15.9% on the year
FY2014FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
2,073
2,262
2,300
-8.4%
Cost of revenue
1,385
1,432
1,466
-3.3%
Gross profit
688
829
834
-17.0%
Gross margin
33.2%
36.7%
36.3%
Research and development
133
173
179
-23.2%
Operating income
109
141
147
-22.9%
Operating margin
5.3%
6.2%
6.4%
Interest expense
2.8
2.4
2.1
+18.0%
Pre-tax income
107
135
142
-21.1%
Income tax
32.2
39.5
46.1
-18.5%
Effective tax rate
30.1%
29.2%
32.5%
Net income
71.7
90.7
88.6
-21.0%
Net margin
3.5%
4.0%
3.9%
Diluted EPS
$1.16
$1.38
$1.31
-15.9%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
185
223
261
-16.8%
Cash from investing
-101
-104
-227
Cash from financing
-57.7
-59.1
-62.7
Depreciation and amortisation
88.2
93.5
104
-5.6%
Share-based compensation
28.8
41.0
66.6
-29.8%
Buybacks
43.7
58.6
80.0
-25.5%
Diluted shares, weighted
62m
66m
68m
-5.8%
Shares outstanding at period end
66m
66m
68m
+0.1%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
1,117
1,007
944
+10.9%
Non-controlling interest
35.5
30.7
24.2
+15.7%
Debt
1.5
2.1
2.9
-28.9%
Operating lease liabilities
83.0
118
0.0
-29.6%
Other liabilities
616
632
626
-2.5%
Total liabilities and equity
1,853
1,790
1,597
+3.5%
Fixed assets
190
194
184
-2.4%
Goodwill
326
317
313
+2.7%
Intangible assets
79.7
86.9
112
-8.2%
Investments
41.8
0.0
n/a
Cash and equivalents
488
419
364
+16.5%
Receivables
474
482
474
-1.6%
Other assets
254
292
150
-12.8%
Total assets
1,853
1,790
1,597
+3.5%
10-K for the year ended 31 December 2020, filed 26 February 2021: the filing.