Graphic Packaging Holding (GPK) FY2015 results: revenue $4.2 billion, down 1.9% on the year
Graphic Packaging Holding Co. (GPK) reported revenue of $4.2 billion for fiscal 2015, the year ended 31 December 2015, down 1.9% on the year before. Net income was $230 million, up 156.5%, and diluted earnings per share $0.70. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2016.
Revenue
$4.2 billion
-1.9% on the year
FY2009FY2015
Operating margin
10.3%
5.4% a year earlier
FY2009FY2015
Net income
$230 million
+156.5% on the year
FY2009FY2015
Diluted EPS
$0.70
+159.3% on the year
FY2009FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
4,160
4,240
4,478
-1.9%
Cost of revenue
3,371
3,453
3,752
-2.4%
Gross profit
789
787
726
+0.2%
Gross margin
19.0%
18.6%
16.2%
Research and development
13.8
14.9
16.8
-7.4%
Selling, general and administrative
348
366
384
-4.9%
Operating income
427
228
342
+87.5%
Operating margin
10.3%
5.4%
7.6%
Interest expense
67.8
80.7
102
-16.0%
Pre-tax income
359
133
213
+170.8%
Income tax
130
45.4
67.4
+187.2%
Effective tax rate
36.3%
34.2%
31.7%
Net income
230
89.7
147
+156.5%
Net margin
5.5%
2.1%
3.3%
Diluted EPS
$0.70
$0.27
$0.42
+159.3%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
589
527
458
+11.9%
Capital expenditure
229
187
209
+22.3%
Free cash flow
360
340
249
+6.1%
Free cash flow margin
8.7%
8.0%
5.6%
Cash from investing
-400
-183
-144
Cash from financing
-211
-309
-311
Depreciation and amortisation
280
270
277
+3.9%
Share-based compensation
20.4
18.7
19.0
+9.1%
Buybacks
63.0
0.0
200
Dividends paid
49.3
0.0
0.0
Diluted shares, weighted
331m
330m
350m
+0.1%
Shares outstanding at period end
325m
327m
325m
-0.7%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
1,102
1,012
1,062
+8.8%
Non-controlling interest
n/a
n/a
0.0
Redeemable equity
n/a
0.0
11.3
Short-term borrowings
10.8
5.6
12.4
+92.9%
Debt
1,877
1,966
2,248
-4.5%
Other liabilities
1,267
1,154
1,039
+9.8%
Total liabilities and equity
4,256
4,138
4,373
+2.9%
Fixed assets
1,586
1,547
1,679
+2.6%
Goodwill
1,168
1,118
1,125
+4.4%
Intangible assets
387
386
467
+0.3%
Cash and equivalents
54.9
81.6
52.2
-32.7%
Receivables
337
346
391
-2.8%
Inventory
557
522
557
+6.8%
Other assets
166
137
101
+21.2%
Total assets
4,256
4,138
4,373
+2.9%
10-K for the year ended 31 December 2015, filed 12 February 2016: the filing.