PPL (PPL) FY2013 results: revenue $7.3 billion, down 40.1% on the year
PPL Corp. (PPL) reported revenue of $7.3 billion for fiscal 2013, the year ended 31 December 2013, down 40.1% on the year before. Net income was $1.1 billion, down 26.0%, and diluted earnings per share $1.76. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2014.
Revenue
$7.3 billion
-40.1% on the year
FY2007FY2013
Operating margin
35.3%
24.9% a year earlier
FY2007FY2013
Net income
$1.1 billion
-26.0% on the year
FY2007FY2013
Diluted EPS
$1.76
-32.3% on the year
FY2007FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
7,263
12,132
12,737
-40.1%
Operating income
2,561
3,026
3,101
-15.4%
Operating margin
35.3%
24.9%
24.3%
Interest expense
778
951
898
-18.2%
Pre-tax income
1,728
2,009
2,201
-14.0%
Income tax
360
518
691
-30.5%
Effective tax rate
20.8%
25.8%
31.4%
Net income
1,130
1,526
1,495
-26.0%
Net margin
15.6%
12.6%
11.7%
Diluted EPS
$1.76
$2.60
$2.70
-32.3%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
2,857
2,764
2,507
+3.4%
Capital expenditure
3,629
3,105
2,487
+16.9%
Free cash flow
-772
-341
20.0
Free cash flow margin
-10.6%
-2.8%
0.2%
Cash from investing
-4,295
-3,123
-7,952
Cash from financing
1,631
48.0
5,767
+3,297.9%
Depreciation
843
n/a
n/a
Share-based compensation
51.0
49.0
33.0
+4.1%
Buybacks
74.0
0.0
n/a
Dividends paid
878
833
746
+5.4%
Dividend per share
$1.47
$1.44
$1.40
+2.1%
Diluted shares, weighted
663m
582m
551m
+14.0%
Shares outstanding at period end
630m
582m
578m
+8.3%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
12,466
10,480
10,828
+19.0%
Non-controlling interest
n/a
18.0
268
Short-term borrowings
701
652
578
+7.5%
Debt
20,907
19,476
17,993
+7.3%
Other liabilities
12,185
13,008
12,981
-6.3%
Total liabilities and equity
46,259
43,634
42,648
+6.0%
Fixed assets
33,087
30,032
27,266
+10.2%
Goodwill
3,805
4,158
4,114
-8.5%
Intangible assets
947
925
1,065
+2.4%
Investments
907
759
734
+19.5%
Cash and equivalents
863
488
1,202
+76.8%
Receivables
923
745
732
+23.9%
Inventory
702
673
654
+4.3%
Other assets
5,025
5,854
6,881
-14.2%
Total assets
46,259
43,634
42,648
+6.0%
10-K for the year ended 31 December 2013, filed 24 February 2014: the filing.