LyondellBasell Industries (LYB) FY2018 results: revenue $39.0 billion, up 13.1% on the year
LyondellBasell Industries N.V. (LYB) reported revenue of $39.0 billion for fiscal 2018, the year ended 31 December 2018, up 13.1% on the year before. Net income was $4.7 billion, down 3.9%, and diluted earnings per share $12.01. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2019.
Revenue
$39.0 billion
+13.1% on the year
FY2011FY2018
Operating margin
13.4%
15.8% a year earlier
FY2011FY2018
Net income
$4.7 billion
-3.9% on the year
FY2011FY2018
Diluted EPS
$12.01
-1.8% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
39,004
34,484
29,183
+13.1%
Cost of revenue
32,529
28,059
23,191
+15.9%
Gross profit
6,475
6,425
5,992
+0.8%
Gross margin
16.6%
18.6%
20.5%
Research and development
115
106
99.0
+8.5%
Selling, general and administrative
1,129
859
833
+31.4%
Operating income
5,231
5,460
5,060
-4.2%
Operating margin
13.4%
15.8%
17.3%
Interest expense
360
491
322
-26.7%
Pre-tax income
5,311
5,493
5,233
-3.3%
Income tax
613
598
1,386
+2.5%
Effective tax rate
11.5%
10.9%
26.5%
Net income
4,690
4,879
3,836
-3.9%
Net margin
12.0%
14.1%
13.1%
Diluted EPS
$12.01
$12.23
$9.13
-1.8%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
5,471
5,206
5,606
+5.1%
Capital expenditure
2,105
1,547
2,243
+36.1%
Free cash flow
3,366
3,659
3,363
-8.0%
Free cash flow margin
8.6%
10.6%
11.5%
Cash from investing
-3,559
-1,756
-2,297
Cash from financing
-3,008
-2,859
-3,349
Depreciation and amortisation
1,241
1,174
1,064
+5.7%
Share-based compensation
39.0
55.0
38.0
-29.1%
Buybacks
1,854
866
2,938
+114.1%
Dividends paid
1,554
1,415
1,395
+9.8%
Dividend per share
$4.00
$3.55
$3.33
+12.7%
Shares outstanding at period end
376m
395m
404m
-4.8%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
10,257
8,949
6,048
+14.6%
Non-controlling interest
23.0
1.0
25.0
+2,200.0%
Redeemable equity
116
0.0
n/a
Debt
9,387
8,619
8,981
+8.9%
Other liabilities
8,495
8,637
8,388
-1.6%
Total liabilities and equity
28,278
26,206
23,442
+7.9%
Fixed assets
12,477
10,997
10,137
+13.5%
Goodwill
1,814
570
528
+218.2%
Intangible assets
965
568
550
+69.9%
Investments
19.0
1,307
1,147
-98.5%
Cash and equivalents
332
1,523
875
-78.2%
Receivables
3,355
3,359
2,716
-0.1%
Inventory
4,515
4,217
3,809
+7.1%
Other assets
4,801
3,665
3,680
+31.0%
Total assets
28,278
26,206
23,442
+7.9%
10-K for the year ended 31 December 2018, filed 21 February 2019: the filing.