Mondelez International (MDLZ) FY2011 results: revenue $35.8 billion, up 13.7% on the year
Mondelez International, Inc. (MDLZ) reported revenue of $35.8 billion for fiscal 2011, the year ended 31 December 2011, up 13.7% on the year before. Net income was $3.6 billion, down 13.6%, and diluted earnings per share $2.01. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2012.
Revenue
$35.8 billion
+13.7% on the year
FY2006FY2011
Operating margin
9.8%
7.9% a year earlier
FY2006FY2011
Net income
$3.6 billion
-13.6% on the year
FY2006FY2011
Diluted EPS
$2.01
-15.9% on the year
FY2006FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
35,810
31,489
38,754
+13.7%
Cost of revenue
22,710
19,617
24,819
+15.8%
Gross profit
13,100
11,872
13,935
+10.3%
Gross margin
36.6%
37.7%
36.0%
Research and development
511
404
466
+26.5%
Selling, general and administrative
9,382
9,140
8,784
+2.6%
Operating income
3,498
2,496
5,183
+40.1%
Operating margin
9.8%
7.9%
13.4%
Interest expense
-1,383
1,540
1,260
Pre-tax income
1,880
726
3,946
+159.0%
Income tax
116
54.0
1,136
+114.8%
Effective tax rate
6.2%
7.4%
28.8%
Net income
3,554
4,114
3,021
-13.6%
Net margin
9.9%
13.1%
7.8%
Diluted EPS
$2.01
$2.39
$2.03
-15.9%
$ 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
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
4,520
3,748
5,084
+20.6%
Capital expenditure
1,771
1,661
1,330
+6.6%
Free cash flow
2,749
2,087
3,754
+31.7%
Free cash flow margin
7.7%
6.6%
9.7%
Cash from investing
-1,728
-7,462
-1,239
Cash from financing
-3,175
4,188
-3,133
Depreciation and amortisation
1,485
1,440
931
+3.1%
Share-based compensation
181
174
164
+4.0%
Buybacks
n/a
n/a
0.0
Dividends paid
2,043
2,175
1,712
-6.1%
Dividend per share
$1.16
$1.16
$1.16
0.0%
Diluted shares, weighted
1,772m
1,720m
1,486m
+3.0%
Shares outstanding at period end
n/a
n/a
1,478m
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
35,217
35,834
25,876
-1.7%
Non-controlling interest
111
108
96.0
+2.8%
Short-term borrowings
n/a
n/a
453
Debt
26,931
28,724
18,537
-6.2%
Other liabilities
31,578
30,623
21,752
+3.1%
Total liabilities and equity
93,837
95,289
66,714
-1.5%
Fixed assets
13,813
13,792
10,693
+0.2%
Goodwill
37,297
37,856
28,764
-1.5%
Intangible assets
25,186
25,963
13,429
-3.0%
Cash and equivalents
1,974
2,481
2,101
-20.4%
Receivables
6,361
6,539
5,197
-2.7%
Inventory
5,706
5,310
3,775
+7.5%
Other assets
3,500
3,348
2,755
+4.5%
Total assets
93,837
95,289
66,714
-1.5%
10-K for the year ended 31 December 2011, filed 27 February 2012: the filing.