Federal Realty Investment Trust (FRT) FY2013 results: revenue $637 million, up 5.2% on the year
Federal Realty Investment Trust (FRT) reported revenue of $637 million for fiscal 2013, the year ended 31 December 2013, up 5.2% on the year before. Net income was $163 million, up 7.1%, and diluted earnings per share $2.46. The figures are the company's own, from the 10-K it filed with the SEC on 11 February 2014.
Revenue
$637 million
+5.2% on the year
FY2008FY2013
Operating margin
39.9%
41.9% a year earlier
FY2008FY2013
Net income
$163 million
+7.1% on the year
FY2008FY2013
Diluted EPS
$2.46
+4.7% 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
637
606
551
+5.2%
Operating income
254
254
226
+0.1%
Operating margin
39.9%
41.9%
41.1%
Interest expense
105
113
98.5
-7.4%
Net income
163
152
144
+7.1%
Net margin
25.5%
25.1%
26.1%
Diluted EPS
$2.46
$2.35
$2.28
+4.7%
$ 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
314
297
245
+6.0%
Capital expenditure
47.1
51.3
50.5
-8.3%
Free cash flow
267
245
194
+9.0%
Free cash flow margin
42.0%
40.5%
35.2%
Cash from investing
-345
-274
-196
Cash from financing
82.6
-53.9
3.7
Depreciation and amortisation
161
142
126
+13.5%
Share-based compensation
10.2
9.5
7.6
+7.5%
Dividend per share
$3.02
$2.84
n/a
+6.3%
Diluted shares, weighted
65m
64m
63m
+2.2%
Shares outstanding at period end
67m
65m
64m
+2.9%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
1,448
1,287
1,216
+12.5%
Non-controlling interest
23.1
23.8
24.5
-2.7%
Redeemable equity
104
94.4
85.3
+10.6%
Debt
2,249
2,127
2,037
+5.7%
Other liabilities
395
367
297
+7.6%
Total liabilities and equity
4,219
3,899
3,660
+8.2%
Cash and equivalents
88.9
37.0
67.8
+140.4%
Other assets
4,130
3,862
3,592
+7.0%
Total assets
4,219
3,899
3,660
+8.2%
10-K for the year ended 31 December 2013, filed 11 February 2014: the filing.