LyondellBasell Industries (LYB) FY2017 results: revenue $34.5 billion, up 18.2% on the year
LyondellBasell Industries N.V. (LYB) reported revenue of $34.5 billion for fiscal 2017, the year ended 31 December 2017, up 18.2% on the year before. Net income was $4.9 billion, up 27.2%, and diluted earnings per share $12.23. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2019.
Revenue
$34.5 billion
+18.2% on the year
FY2011FY2017
Operating margin
15.8%
17.3% a year earlier
FY2011FY2017
Net income
$4.9 billion
+27.2% on the year
FY2011FY2017
Diluted EPS
$12.23
+34.0% on the year
FY2011FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
34,484
29,183
32,735
+18.2%
Cost of revenue
28,059
23,191
25,683
+21.0%
Gross profit
6,425
5,992
7,052
+7.2%
Gross margin
18.6%
20.5%
21.5%
Research and development
106
99.0
102
+7.1%
Selling, general and administrative
859
833
828
+3.1%
Operating income
5,460
5,060
6,122
+7.9%
Operating margin
15.8%
17.3%
18.7%
Interest expense
491
322
310
+52.5%
Pre-tax income
5,493
5,233
6,209
+5.0%
Income tax
598
1,386
1,730
-56.9%
Effective tax rate
10.9%
26.5%
27.9%
Net income
4,879
3,836
4,476
+27.2%
Net margin
14.1%
13.1%
13.7%
Diluted EPS
$12.23
$9.13
$9.59
+34.0%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
5,206
5,606
5,842
-7.1%
Capital expenditure
1,547
2,243
1,440
-31.0%
Free cash flow
3,659
3,363
4,402
+8.8%
Free cash flow margin
10.6%
11.5%
13.4%
Cash from investing
-1,756
-2,297
-1,046
Cash from financing
-2,859
-3,349
-4,850
Depreciation and amortisation
1,174
1,064
1,047
+10.3%
Share-based compensation
55.0
38.0
53.0
+44.7%
Buybacks
866
2,938
4,656
-70.5%
Dividends paid
1,415
1,395
1,410
+1.4%
Dividend per share
$3.55
$3.33
$3.04
+6.6%
Shares outstanding at period end
395m
404m
440m
-2.4%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
8,949
6,048
6,550
+48.0%
Non-controlling interest
1.0
25.0
24.0
-96.0%
Redeemable equity
0.0
n/a
n/a
Debt
8,619
8,981
8,028
-4.0%
Other liabilities
8,637
8,388
8,155
+3.0%
Total liabilities and equity
26,206
23,442
22,757
+11.8%
Fixed assets
10,997
10,137
8,991
+8.5%
Goodwill
570
528
536
+8.0%
Intangible assets
568
550
640
+3.3%
Investments
1,307
1,147
1,064
+13.9%
Cash and equivalents
1,523
875
924
+74.1%
Receivables
3,359
2,716
2,363
+23.7%
Inventory
4,217
3,809
4,051
+10.7%
Other assets
3,665
3,680
4,188
-0.4%
Total assets
26,206
23,442
22,757
+11.8%
10-K for the year ended 31 December 2017, filed 21 February 2019: the filing.