LyondellBasell Industries (LYB) FY2020 results: revenue $27.8 billion, down 20.1% on the year
LyondellBasell Industries N.V. (LYB) reported revenue of $27.8 billion for fiscal 2020, the year ended 31 December 2020, down 20.1% on the year before. Net income was $1.4 billion, down 58.0%, and diluted earnings per share $4.24. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2021.
Revenue
$27.8 billion
-20.1% on the year
FY2013FY2020
Operating margin
5.6%
11.9% a year earlier
FY2013FY2020
Net income
$1.4 billion
-58.0% on the year
FY2013FY2020
Diluted EPS
$4.24
-55.7% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
27,753
34,727
39,004
-20.1%
Cost of revenue
24,359
29,301
32,529
-16.9%
Gross profit
3,394
5,426
6,475
-37.4%
Gross margin
12.2%
15.6%
16.6%
Research and development
113
111
115
+1.8%
Selling, general and administrative
1,140
1,199
1,129
-4.9%
Operating income
1,559
4,116
5,231
-62.1%
Operating margin
5.6%
11.9%
13.4%
Interest expense
526
347
360
+51.6%
Pre-tax income
1,386
4,052
5,311
-65.8%
Income tax
-43.0
648
613
Effective tax rate
-3.1%
16.0%
11.5%
Net income
1,427
3,397
4,690
-58.0%
Net margin
5.1%
9.8%
12.0%
Diluted EPS
$4.24
$9.58
$12.01
-55.7%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
3,404
4,961
5,471
-31.4%
Capital expenditure
1,947
2,694
2,105
-27.7%
Free cash flow
1,457
2,267
3,366
-35.7%
Free cash flow margin
5.2%
6.5%
8.6%
Cash from investing
-4,906
-1,635
-3,559
Cash from financing
2,271
-2,835
-3,008
Depreciation and amortisation
1,385
1,312
1,241
+5.6%
Share-based compensation
55.0
48.0
39.0
+14.6%
Buybacks
4.0
3,752
1,854
-99.9%
Dividends paid
1,405
1,462
1,554
-3.9%
Dividend per share
$4.20
$4.15
$4.00
+1.2%
Shares outstanding at period end
334m
333m
376m
+0.2%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
7,971
8,044
10,257
-0.9%
Non-controlling interest
17.0
19.0
23.0
-10.5%
Redeemable equity
116
116
116
0.0%
Debt
15,957
12,062
9,387
+32.3%
Operating lease liabilities
1,222
1,216
n/a
+0.5%
Other liabilities
10,120
8,978
8,495
+12.7%
Total liabilities and equity
35,403
30,435
28,278
+16.3%
Fixed assets
14,386
14,130
12,477
+1.8%
Goodwill
1,953
1,891
1,814
+3.3%
Intangible assets
751
869
965
-13.6%
Investments
682
389
19.0
+75.3%
Cash and equivalents
1,763
858
332
+105.5%
Receivables
3,291
2,981
3,355
+10.4%
Inventory
4,344
4,588
4,515
-5.3%
Other assets
8,233
4,729
4,801
+74.1%
Total assets
35,403
30,435
28,278
+16.3%
10-K for the year ended 31 December 2020, filed 25 February 2021: the filing.