LyondellBasell Industries (LYB) FY2014 results: revenue $45.6 billion, up 3.5% on the year
LyondellBasell Industries N.V. (LYB) reported revenue of $45.6 billion for fiscal 2014, the year ended 31 December 2014, up 3.5% on the year before. Net income was $4.2 billion, up 8.2%, and diluted earnings per share $7.99. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2015.
Revenue
$45.6 billion
+3.5% on the year
FY2011FY2014
Operating margin
12.6%
11.6% a year earlier
FY2011FY2014
Net income
$4.2 billion
+8.2% on the year
FY2011FY2014
Diluted EPS
$7.99
+18.4% on the year
FY2011FY2014
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
45,608
44,062
45,352
+3.5%
Cost of revenue
38,939
37,940
39,595
+2.6%
Gross profit
6,669
6,122
5,757
+8.9%
Gross margin
14.6%
13.9%
12.7%
Research and development
127
150
172
-15.3%
Selling, general and administrative
806
870
909
-7.4%
Operating income
5,736
5,102
4,676
+12.4%
Operating margin
12.6%
11.6%
10.3%
Interest expense
352
309
655
+13.9%
Pre-tax income
5,712
4,996
4,185
+14.3%
Income tax
1,540
1,136
1,327
+35.6%
Effective tax rate
27.0%
22.7%
31.7%
Net income
4,174
3,857
2,848
+8.2%
Net margin
9.2%
8.8%
6.3%
Diluted EPS
$7.99
$6.75
$4.92
+18.4%
$ 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
6,048
4,835
4,787
+25.1%
Capital expenditure
1,499
1,561
1,060
-4.0%
Free cash flow
4,549
3,274
3,727
+38.9%
Free cash flow margin
10.0%
7.4%
8.2%
Cash from investing
-3,531
-1,602
-1,013
Cash from financing
-5,907
-1,589
-2,145
Depreciation and amortisation
1,019
1,021
983
-0.2%
Buybacks
5,788
1,949
0.0
+197.0%
Dividends paid
1,403
1,127
2,415
+24.5%
Dividend per share
$2.70
$2.00
$4.20
+35.0%
Shares outstanding at period end
487m
549m
575m
-11.3%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
8,314
12,478
11,139
-33.4%
Non-controlling interest
30.0
36.0
40.0
-16.7%
Debt
7,045
5,835
4,395
+20.7%
Other liabilities
8,832
8,949
8,646
-1.3%
Total liabilities and equity
24,221
27,298
24,220
-11.3%
Fixed assets
8,758
8,457
7,696
+3.6%
Goodwill
566
605
591
-6.4%
Intangible assets
769
904
1,038
-14.9%
Investments
1,593
0.0
n/a
Cash and equivalents
1,031
4,450
4,450
-76.8%
Receivables
3,226
3,828
3,720
-15.7%
Inventory
4,517
5,279
5,075
-14.4%
Other assets
3,761
3,775
1,650
-0.4%
Total assets
24,221
27,298
24,220
-11.3%
10-K for the year ended 31 December 2014, filed 17 February 2015: the filing.