Mondelez International (MDLZ) FY2014 results: revenue $34.2 billion, down 3.0% on the year
Mondelez International, Inc. (MDLZ) reported revenue of $34.2 billion for fiscal 2014, the year ended 31 December 2014, down 3.0% on the year before. Net income was $2.2 billion, down 44.2%, and diluted earnings per share $1.28. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2015.
Revenue
$34.2 billion
-3.0% on the year
FY2007FY2014
Operating margin
9.5%
11.2% a year earlier
FY2007FY2014
Net income
$2.2 billion
-44.2% on the year
FY2007FY2014
Diluted EPS
$1.28
-41.6% on the year
FY2007FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
34,244
35,299
35,015
-3.0%
Cost of revenue
21,647
22,189
21,939
-2.4%
Gross profit
12,597
13,110
13,076
-3.9%
Gross margin
36.8%
37.1%
37.3%
Research and development
455
471
462
-3.4%
Selling, general and administrative
8,457
8,679
9,176
-2.6%
Operating income
3,242
3,971
3,637
-18.4%
Operating margin
9.5%
11.2%
10.4%
Interest expense
778
1,017
1,177
-23.5%
Pre-tax income
2,554
2,392
1,774
+6.8%
Income tax
353
60.0
168
+488.3%
Effective tax rate
13.8%
2.5%
9.5%
Net income
2,184
3,915
3,067
-44.2%
Net margin
6.4%
11.1%
8.8%
Diluted EPS
$1.28
$2.19
$1.71
-41.6%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
3,562
6,410
3,923
-44.4%
Capital expenditure
1,642
1,622
1,610
+1.2%
Free cash flow
1,920
4,788
2,313
-59.9%
Free cash flow margin
5.6%
13.6%
6.6%
Cash from investing
-1,642
-1,483
-1,687
Cash from financing
-2,688
-6,687
204
Depreciation and amortisation
1,059
1,077
1,345
-1.7%
Share-based compensation
141
128
162
+10.2%
Buybacks
1,700
2,900
n/a
-41.4%
Dividends paid
964
943
2,058
+2.2%
Dividend per share
$0.58
$0.54
$1.00
+7.4%
Diluted shares, weighted
1,709m
1,789m
1,789m
-4.5%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
27,750
32,373
32,215
-14.3%
Non-controlling interest
103
159
140
-35.2%
Debt
16,656
17,079
19,425
-2.5%
Other liabilities
22,306
22,946
23,698
-2.8%
Total liabilities and equity
66,815
72,557
75,478
-7.9%
Fixed assets
9,827
10,247
10,010
-4.1%
Goodwill
23,389
25,597
25,740
-8.6%
Intangible assets
20,335
21,994
22,552
-7.5%
Cash and equivalents
n/a
n/a
4,475
Receivables
3,802
4,463
6,129
-14.8%
Inventory
3,480
3,743
3,741
-7.0%
Other assets
5,982
6,513
2,831
-8.2%
Total assets
66,815
72,557
75,478
-7.9%
10-K for the year ended 31 December 2014, filed 20 February 2015: the filing.