LyondellBasell Industries (LYB) FY2016 results: revenue $29.2 billion, down 10.9% on the year
LyondellBasell Industries N.V. (LYB) reported revenue of $29.2 billion for fiscal 2016, the year ended 31 December 2016, down 10.9% on the year before. Net income was $3.8 billion, down 14.3%, and diluted earnings per share $9.13. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2019.
Revenue
$29.2 billion
-10.9% on the year
FY2011FY2016
Operating margin
17.3%
18.7% a year earlier
FY2011FY2016
Net income
$3.8 billion
-14.3% on the year
FY2011FY2016
Diluted EPS
$9.13
-4.8% on the year
FY2011FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
29,183
32,735
45,608
-10.9%
Cost of revenue
23,191
25,683
38,939
-9.7%
Gross profit
5,992
7,052
6,669
-15.0%
Gross margin
20.5%
21.5%
14.6%
Research and development
99.0
102
127
-2.9%
Selling, general and administrative
833
828
806
+0.6%
Operating income
5,060
6,122
5,736
-17.3%
Operating margin
17.3%
18.7%
12.6%
Interest expense
322
310
352
+3.9%
Pre-tax income
5,233
6,209
5,712
-15.7%
Income tax
1,386
1,730
1,540
-19.9%
Effective tax rate
26.5%
27.9%
27.0%
Net income
3,836
4,476
4,174
-14.3%
Net margin
13.1%
13.7%
9.2%
Diluted EPS
$9.13
$9.59
$7.99
-4.8%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
5,606
5,842
6,048
-4.0%
Capital expenditure
2,243
1,440
1,499
+55.8%
Free cash flow
3,363
4,402
4,549
-23.6%
Free cash flow margin
11.5%
13.4%
10.0%
Cash from investing
-2,297
-1,046
-3,531
Cash from financing
-3,349
-4,850
-5,907
Depreciation and amortisation
1,064
1,047
1,019
+1.6%
Share-based compensation
38.0
53.0
n/a
-28.3%
Buybacks
2,938
4,656
5,788
-36.9%
Dividends paid
1,395
1,410
1,403
-1.1%
Dividend per share
$3.33
$3.04
$2.70
+9.5%
Shares outstanding at period end
404m
440m
487m
-8.2%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
6,048
6,550
8,314
-7.7%
Non-controlling interest
25.0
24.0
30.0
+4.2%
Debt
8,981
8,028
7,045
+11.9%
Other liabilities
8,388
8,155
8,832
+2.9%
Total liabilities and equity
23,442
22,757
24,221
+3.0%
Fixed assets
10,137
8,991
8,758
+12.7%
Goodwill
528
536
566
-1.5%
Intangible assets
550
640
769
-14.1%
Investments
1,147
1,064
1,593
+7.8%
Cash and equivalents
875
924
1,031
-5.3%
Receivables
2,716
2,363
3,226
+14.9%
Inventory
3,809
4,051
4,517
-6.0%
Other assets
3,680
4,188
3,761
-12.1%
Total assets
23,442
22,757
24,221
+3.0%
10-K for the year ended 31 December 2016, filed 21 February 2019: the filing.