Graphic Packaging Holding (GPK) FY2012 results: revenue $4.3 billion, up 3.1% on the year
Graphic Packaging Holding Co. (GPK) reported revenue of $4.3 billion for fiscal 2012, the year ended 31 December 2012, up 3.1% on the year before. Net income was $123 million, down 55.7%, and diluted earnings per share $0.31. The figures are the company's own, from the 10-K it filed with the SEC on 7 February 2013.
Revenue
$4.3 billion
+3.1% on the year
FY2009FY2012
Operating margin
7.4%
4.5% a year earlier
FY2009FY2012
Net income
$123 million
-55.7% on the year
FY2009FY2012
Diluted EPS
$0.31
-57.5% on the year
FY2009FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
4,337
4,206
4,095
+3.1%
Cost of revenue
3,618
3,569
3,502
+1.4%
Gross profit
720
638
593
+12.9%
Gross margin
16.6%
15.2%
14.5%
Research and development
16.1
16.0
12.8
+0.6%
Selling, general and administrative
378
342
320
+10.4%
Operating income
322
190
220
+69.4%
Operating margin
7.4%
4.5%
5.4%
Interest expense
111
145
174
-23.3%
Pre-tax income
200
43.3
36.6
+362.6%
Income tax
82.5
-230
27.5
Effective tax rate
41.2%
-530.7%
75.1%
Net income
123
277
10.7
-55.7%
Net margin
2.8%
6.6%
0.3%
Diluted EPS
$0.31
$0.73
$0.03
-57.5%
$ 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
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
469
388
338
+20.8%
Capital expenditure
203
160
123
+27.0%
Free cash flow
265
228
215
+16.5%
Free cash flow margin
6.1%
5.4%
5.3%
Cash from investing
-294
-212
-123
Cash from financing
-396
-42.2
-227
Depreciation and amortisation
267
278
289
-4.2%
Share-based compensation
27.8
17.6
12.8
+58.0%
Buybacks
300
32.9
0.0
+811.9%
Diluted shares, weighted
396m
382m
347m
+3.8%
Shares outstanding at period end
345m
389m
344m
-11.5%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
974
1,168
747
-16.6%
Non-controlling interest
-1.7
-1.2
0.0
Redeemable equity
10.8
14.8
0.0
-27.0%
Short-term borrowings
12.9
8.8
6.7
+46.6%
Debt
2,326
2,358
2,572
-1.4%
Other liabilities
1,310
1,101
1,158
+19.0%
Total liabilities and equity
4,632
4,650
4,485
-0.4%
Fixed assets
1,732
1,632
1,642
+6.2%
Goodwill
1,139
1,136
1,205
+0.3%
Intangible assets
506
536
577
-5.5%
Cash and equivalents
51.5
272
139
-81.1%
Receivables
439
380
363
+15.5%
Inventory
532
474
417
+12.3%
Other assets
231
220
142
+4.9%
Total assets
4,632
4,650
4,485
-0.4%
10-K for the year ended 31 December 2012, filed 7 February 2013: the filing.