JBT Marel (JBTM) FY2014 results: revenue $984 million, up 5.4% on the year
JBT Marel Corp. (JBTM) reported revenue of $984 million for fiscal 2014, the year ended 31 December 2014, up 5.4% on the year before. Net income was $31 million, down 6.9%, and diluted earnings per share $1.03. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2015.
Revenue
$984 million
+5.4% on the year
FY2009FY2014
Operating margin
5.2%
5.7% a year earlier
FY2009FY2014
Net income
$31 million
-6.9% on the year
FY2009FY2014
Diluted EPS
$1.03
-7.2% on the year
FY2009FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
984
934
917
+5.4%
Cost of revenue
720
699
686
+2.9%
Gross profit
103
91.3
89.5
+12.5%
Gross margin
10.4%
9.8%
9.8%
Research and development
14.6
14.0
14.3
+4.3%
Selling, general and administrative
183
167
157
+10.0%
Operating income
50.7
53.2
60.9
-4.7%
Operating margin
5.2%
5.7%
6.6%
Interest expense
7.6
7.6
7.4
0.0%
Pre-tax income
44.7
47.8
54.0
-6.5%
Income tax
13.9
13.8
16.9
+0.7%
Effective tax rate
31.1%
28.9%
31.3%
Net income
30.8
33.1
36.2
-6.9%
Net margin
3.1%
3.5%
3.9%
Diluted EPS
$1.03
$1.11
$1.23
-7.2%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
77.7
62.0
86.0
+25.3%
Capital expenditure
36.7
29.2
24.7
+25.7%
Free cash flow
41.0
32.8
61.3
+25.0%
Free cash flow margin
4.2%
3.5%
6.7%
Cash from investing
-127
-28.1
-32.6
Cash from financing
61.9
-102
36.1
Depreciation and amortisation
25.3
25.0
23.6
+1.2%
Share-based compensation
7.3
6.9
7.5
+5.8%
Buybacks
2.8
0.2
3.6
+1,300.0%
Dividends paid
10.7
10.1
8.5
+5.9%
Dividend per share
$0.36
$0.34
$0.28
+5.9%
Diluted shares, weighted
30m
30m
30m
+0.7%
Shares outstanding at period end
29m
29m
29m
+0.4%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
119
154
106
-22.8%
Short-term borrowings
n/a
1.0
n/a
Debt
178
99.4
191
+79.1%
Other liabilities
401
366
381
+9.3%
Total liabilities and equity
698
621
678
+12.3%
Fixed assets
148
133
126
+11.2%
Goodwill
69.2
30.8
30.6
+124.7%
Intangible assets
60.0
21.4
23.8
+180.4%
Cash and equivalents
33.3
29.4
99.0
+13.3%
Receivables
176
186
188
-5.5%
Inventory
112
118
109
-4.9%
Other assets
99.7
103
101
-3.1%
Total assets
698
621
678
+12.3%
10-K for the year ended 31 December 2014, filed 2 March 2015: the filing.