LyondellBasell Industries (LYB) FY2019 results: revenue $34.7 billion, down 11.0% on the year
LyondellBasell Industries N.V. (LYB) reported revenue of $34.7 billion for fiscal 2019, the year ended 31 December 2019, down 11.0% on the year before. Net income was $3.4 billion, down 27.6%, and diluted earnings per share $9.58. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2020.
Revenue
$34.7 billion
-11.0% on the year
FY2012FY2019
Operating margin
11.9%
13.4% a year earlier
FY2012FY2019
Net income
$3.4 billion
-27.6% on the year
FY2012FY2019
Diluted EPS
$9.58
-20.2% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
34,727
39,004
34,484
-11.0%
Cost of revenue
29,301
32,529
28,059
-9.9%
Gross profit
5,426
6,475
6,425
-16.2%
Gross margin
15.6%
16.6%
18.6%
Research and development
111
115
106
-3.5%
Selling, general and administrative
1,199
1,129
859
+6.2%
Operating income
4,116
5,231
5,460
-21.3%
Operating margin
11.9%
13.4%
15.8%
Interest expense
347
360
491
-3.6%
Pre-tax income
4,052
5,311
5,493
-23.7%
Income tax
648
613
598
+5.7%
Effective tax rate
16.0%
11.5%
10.9%
Net income
3,397
4,690
4,879
-27.6%
Net margin
9.8%
12.0%
14.1%
Diluted EPS
$9.58
$12.01
$12.23
-20.2%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
4,961
5,471
5,206
-9.3%
Capital expenditure
2,694
2,105
1,547
+28.0%
Free cash flow
2,267
3,366
3,659
-32.7%
Free cash flow margin
6.5%
8.6%
10.6%
Cash from investing
-1,635
-3,559
-1,756
Cash from financing
-2,835
-3,008
-2,859
Depreciation and amortisation
1,312
1,241
1,174
+5.7%
Share-based compensation
48.0
39.0
55.0
+23.1%
Buybacks
3,752
1,854
866
+102.4%
Dividends paid
1,462
1,554
1,415
-5.9%
Dividend per share
$4.15
$4.00
$3.55
+3.8%
Shares outstanding at period end
333m
376m
395m
-11.2%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
8,044
10,257
8,949
-21.6%
Non-controlling interest
19.0
23.0
1.0
-17.4%
Redeemable equity
116
116
0.0
0.0%
Debt
12,062
9,387
8,619
+28.5%
Operating lease liabilities
1,216
n/a
n/a
Other liabilities
8,978
8,495
8,637
+5.7%
Total liabilities and equity
30,435
28,278
26,206
+7.6%
Fixed assets
14,130
12,477
10,997
+13.2%
Goodwill
1,891
1,814
570
+4.2%
Intangible assets
869
965
568
-9.9%
Investments
389
19.0
1,307
+1,947.4%
Cash and equivalents
858
332
1,523
+158.4%
Receivables
2,981
3,355
3,359
-11.1%
Inventory
4,588
4,515
4,217
+1.6%
Other assets
4,729
4,801
3,665
-1.5%
Total assets
30,435
28,278
26,206
+7.6%
10-K for the year ended 31 December 2019, filed 20 February 2020: the filing.