Greif (GEF) FY2013 results: revenue $4.2 billion, up 2.2% on the year
Greif, Inc. (GEF) reported revenue of $4.2 billion for fiscal 2013, the year ended 31 October 2013, up 2.2% on the year before. Net income was $145 million, up 22.5%. The figures are the company's own, from the 10-K it filed with the SEC on 23 December 2013.
Revenue
$4.2 billion
+2.2% on the year
FY2008FY2013
Operating margin
8.1%
6.8% a year earlier
FY2008FY2013
Net income
$145 million
+22.5% on the year
FY2008FY2013
Diluted EPS
n/a
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
4,220
4,130
4,248
+2.2%
Cost of revenue
3,388
3,350
3,450
+1.1%
Gross profit
833
780
798
+6.8%
Gross margin
19.7%
18.9%
18.8%
Selling, general and administrative
477
469
454
+1.7%
Operating income
342
281
330
+21.6%
Operating margin
8.1%
6.8%
7.8%
Interest expense
n/a
2.2
76.0
Pre-tax income
244
183
241
+32.9%
Income tax
98.8
61.1
65.0
+61.7%
Effective tax rate
40.5%
33.3%
27.0%
Net income
145
118
178
+22.5%
Net margin
3.4%
2.9%
4.2%
$ 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
250
473
172
-47.1%
Capital expenditure
136
166
162
-17.8%
Free cash flow
114
307
9.9
-62.9%
Free cash flow margin
2.7%
7.4%
0.2%
Cash from investing
-101
-154
-500
Cash from financing
-160
-352
348
Depreciation and amortisation
158
156
144
+1.3%
Share-based compensation
3.7
3.6
4.2
+2.8%
Buybacks
n/a
0.1
15.1
Dividends paid
98.3
97.7
97.8
+0.6%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
1,265
1,191
1,214
+6.2%
Non-controlling interest
115
120
128
-3.6%
Debt
1,281
1,276
1,521
+0.4%
Other liabilities
1,221
1,270
1,326
-3.8%
Total liabilities and equity
3,882
3,857
4,189
+0.7%
Fixed assets
1,398
1,425
1,435
-1.9%
Goodwill
998
971
1,003
+2.8%
Intangible assets
185
199
229
-6.7%
Cash and equivalents
78.1
91.5
127
-14.6%
Receivables
482
454
561
+6.2%
Inventory
374
374
429
+0.2%
Other assets
366
343
402
+6.6%
Total assets
3,882
3,857
4,187
+0.7%
10-K for the year ended 31 October 2013, filed 23 December 2013: the filing.