JBT Marel (JBTM) FY2013 results: revenue $934 million, up 1.8% on the year
JBT Marel Corp. (JBTM) reported revenue of $934 million for fiscal 2013, the year ended 31 December 2013, up 1.8% on the year before. Net income was $33 million, down 8.6%, and diluted earnings per share $1.11. The figures are the company's own, from the 10-K it filed with the SEC on 7 March 2014.
Revenue
$934 million
+1.8% on the year
FY2009FY2013
Operating margin
5.7%
6.6% a year earlier
FY2009FY2013
Net income
$33 million
-8.6% on the year
FY2009FY2013
Diluted EPS
$1.11
-9.8% on the year
FY2009FY2013
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
934
917
956
+1.8%
Cost of revenue
699
686
721
+1.8%
Gross profit
91.3
89.5
78.3
+2.0%
Gross margin
9.8%
9.8%
8.2%
Research and development
14.0
14.3
18.5
-2.1%
Selling, general and administrative
167
157
153
+6.4%
Operating income
53.2
60.9
53.2
-12.6%
Operating margin
5.7%
6.6%
5.6%
Interest expense
7.6
7.4
7.0
+2.7%
Pre-tax income
47.8
54.0
46.8
-11.5%
Income tax
13.8
16.9
16.0
-18.3%
Effective tax rate
28.9%
31.3%
34.2%
Net income
33.1
36.2
30.5
-8.6%
Net margin
3.5%
3.9%
3.2%
Diluted EPS
$1.11
$1.23
$1.04
-9.8%
$ 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
62.0
86.0
36.4
-27.9%
Capital expenditure
29.2
24.7
20.8
+18.2%
Free cash flow
32.8
61.3
15.6
-46.5%
Free cash flow margin
3.5%
6.7%
1.6%
Cash from investing
-28.1
-32.6
-21.4
Cash from financing
-102
36.1
-18.5
Depreciation and amortisation
25.0
23.6
24.1
+5.9%
Share-based compensation
6.9
7.5
5.2
-8.0%
Buybacks
0.2
3.6
0.3
-94.4%
Dividends paid
10.1
8.5
8.4
+18.8%
Dividend per share
$0.34
$0.28
$0.28
+21.4%
Diluted shares, weighted
30m
30m
29m
+0.7%
Shares outstanding at period end
29m
29m
29m
+0.9%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
154
106
79.8
+46.2%
Short-term borrowings
1.0
n/a
n/a
Debt
99.4
191
140
-48.0%
Other liabilities
366
381
372
-3.9%
Total liabilities and equity
621
678
592
-8.4%
Fixed assets
133
126
125
+5.2%
Goodwill
30.8
30.6
28.2
+0.7%
Intangible assets
21.4
23.8
18.2
-10.1%
Cash and equivalents
29.4
99.0
9.0
-70.3%
Receivables
186
188
189
-1.1%
Inventory
118
109
122
+7.7%
Other assets
103
101
100
+2.1%
Total assets
621
678
592
-8.4%
10-K for the year ended 31 December 2013, filed 7 March 2014: the filing.