Mondelez International (MDLZ) FY2010 results: revenue $31.5 billion, down 18.7% on the year
Mondelez International, Inc. (MDLZ) reported revenue of $31.5 billion for fiscal 2010, the year ended 31 December 2010, down 18.7% on the year before. Net income was $4.1 billion, up 36.2%, and diluted earnings per share $2.39. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2011.
Revenue
$31.5 billion
-18.7% on the year
FY2006FY2010
Operating margin
7.9%
13.4% a year earlier
FY2006FY2010
Net income
$4.1 billion
+36.2% on the year
FY2006FY2010
Diluted EPS
$2.39
+17.7% on the year
FY2006FY2010
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2010
FY2009
FY2008
On the year
Last 8 years
Revenue
31,489
38,754
40,492
-18.7%
Cost of revenue
19,617
24,819
27,164
-21.0%
Gross profit
11,872
13,935
13,328
-14.8%
Gross margin
37.7%
36.0%
32.9%
Research and development
404
466
487
-13.3%
Selling, general and administrative
9,140
8,784
8,613
+4.1%
Operating income
2,496
5,183
3,576
-51.8%
Operating margin
7.9%
13.4%
8.8%
Interest expense
1,540
1,260
1,272
+22.2%
Pre-tax income
726
3,946
2,336
-81.6%
Income tax
54.0
1,136
658
-95.2%
Effective tax rate
7.4%
28.8%
28.2%
Net income
4,114
3,021
2,884
+36.2%
Net margin
13.1%
7.8%
7.1%
Diluted EPS
$2.39
$2.03
$1.90
+17.7%
$ 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
FY2010
FY2009
FY2008
On the year
Last 8 years
Operating cash flow
3,748
5,084
4,141
-26.3%
Capital expenditure
1,661
1,330
1,367
+24.9%
Free cash flow
2,087
3,754
2,774
-44.4%
Free cash flow margin
6.6%
9.7%
6.9%
Cash from investing
-7,462
-1,239
-1,320
Cash from financing
4,188
-3,133
-2,057
Depreciation and amortisation
1,440
931
986
+54.7%
Share-based compensation
174
164
178
+6.1%
Buybacks
n/a
0.0
777
Dividends paid
2,175
1,712
1,663
+27.0%
Dividend per share
$1.16
$1.16
$1.12
0.0%
Diluted shares, weighted
1,720m
1,486m
1,515m
+15.7%
Shares outstanding at period end
n/a
1,478m
n/a
Balance sheet
$ million
FY2010
FY2009
FY2008
On the year
Last 8 years
Shareholders' equity
35,834
25,876
22,295
+38.5%
Non-controlling interest
108
96.0
61.0
+12.5%
Short-term borrowings
n/a
453
897
Debt
28,724
18,537
18,589
+55.0%
Other liabilities
30,623
21,752
21,331
+40.8%
Total liabilities and equity
95,289
66,714
63,173
+42.8%
Fixed assets
13,792
10,693
9,917
+29.0%
Goodwill
37,856
28,764
27,581
+31.6%
Intangible assets
25,963
13,429
12,926
+93.3%
Cash and equivalents
2,481
2,101
1,244
+18.1%
Receivables
6,539
5,197
4,704
+25.8%
Inventory
5,310
3,775
3,881
+40.7%
Other assets
3,348
2,755
2,920
+21.5%
Total assets
95,289
66,714
63,173
+42.8%
10-K for the year ended 31 December 2010, filed 28 February 2011: the filing.