Global Net Lease (GNL) FY2018 results: revenue $282 million, up 8.8% on the year
Global Net Lease, Inc. (GNL) reported revenue of $282 million for fiscal 2018, the year ended 31 December 2018, up 8.8% on the year before. Net income was $1 million, down 94.8%, and diluted earnings per share $0.01. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2019.
Revenue
$282 million
+8.8% on the year
FY2012FY2018
Operating margin
24.1%
33.6% a year earlier
FY2012FY2018
Net income
$1 million
-94.8% on the year
FY2012FY2018
Diluted EPS
$0.01
-96.7% on the year
FY2012FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
282
259
214
+8.8%
Cost of revenue
57.0
53.3
38.8
+6.8%
Gross profit
225
206
175
+9.4%
Gross margin
79.8%
79.4%
81.9%
Operating income
68.0
87.1
73.6
-21.9%
Operating margin
24.1%
33.6%
34.4%
Interest expense
58.0
48.5
39.1
+19.7%
Pre-tax income
13.3
26.7
52.0
-50.1%
Income tax
2.4
3.1
4.4
-22.5%
Effective tax rate
18.3%
11.7%
8.5%
Net income
1.1
20.7
47.1
-94.8%
Net margin
0.4%
8.0%
22.0%
Diluted EPS
$0.01
$0.30
$0.27
-96.7%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
145
131
114
+10.4%
Capital expenditure
1.5
3.1
0.2
-53.4%
Free cash flow
143
128
114
+12.0%
Free cash flow margin
50.7%
49.3%
53.3%
Cash from investing
-458
-79.0
134
Cash from financing
312
-30.7
-237
Depreciation and amortisation
120
113
94.5
+5.8%
Share-based compensation
2.6
-3.8
3.7
Buybacks
n/a
0.0
0.0
Dividends paid
147
143
120
+3.3%
Dividend per share
$2.13
$2.13
n/a
0.0%
Diluted shares, weighted
70m
67m
57m
+4.2%
Shares outstanding at period end
76m
67m
199m
+13.1%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
1,425
1,413
1,348
+0.9%
Non-controlling interest
3.3
1.1
8.2
+202.5%
Debt
1,772
1,514
1,419
+17.1%
Other liabilities
108
111
116
-2.1%
Total liabilities and equity
3,309
3,039
2,891
+8.9%
Intangible assets
458
464
482
-1.4%
Cash and equivalents
100
102
77.3
-2.1%
Other assets
2,751
2,472
2,332
+11.3%
Total assets
3,309
3,039
2,891
+8.9%
10-K for the year ended 31 December 2018, filed 28 February 2019: the filing.