CPA FY 2014 Earnings Report — Copa Holdings, S.A. Revenue & Financial Results | Market Cap Arena

Copa Holdings, S.A.CPA

FY 2014 Earnings

Reported April 30, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$2.7B	—	$2.6B	—	3.7%
Op. Income	$521M	—	$539M	—	-3.3%
Gross Margin	29.6%	—	31.7%	—	-2.1pp
Net Margin	13.4%	—	16.4%	—	-3.0pp
EPS (Diluted)	$8.15	—	$9.63	—	-15.4%
Free Cash Flow	-$121M	—	$545M	—	-122.2%

Revenue Flow

Item	Amount
REVENUE	$2.7B
Cost of Revenue	$1.9B
GROSS PROFIT	$802M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$193M
Other Expenses	-$88M
Operating Expenses	$281M
Cost & Expenses	$2.2B
OPERATING INCOME	$521M
Interest Income	$18M
Interest Expense	$30M
Other Income/Expenses	-$123M
INCOME BEFORE TAX	$398M
Income Tax Expense	$37M
Net Income from Continuing Ops	$362M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$362M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$362M
D&A	$115M
EBIT	$428M
EBITDA	$543M
EPS	$8
EPS Diluted	$8

Income Statement

Item	Amount
REVENUE	$2.7B
Cost of Revenue	$1.9B
GROSS PROFIT	$802M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$193M
Other Expenses	-$88M
Operating Expenses	$281M
Cost & Expenses	$2.2B
OPERATING INCOME	$521M
Interest Income	$18M
Interest Expense	$30M
Other Income/Expenses	-$123M
INCOME BEFORE TAX	$398M
Income Tax Expense	$37M
Net Income from Continuing Ops	$362M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$362M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$362M
D&A	$115M
EBIT	$428M
EBITDA	$543M
EPS	$8
EPS Diluted	$8

Cash Flow Statement

Item	Amount
Net Income	$362M
Depreciation & Amortization	$115M
Stock-Based Compensation	$5M
Deferred Income Tax	$37M
Other Non-Cash Items	$94M
Change in Working Capital	-$229M
OPERATING CASH FLOW	$384M
Capital Expenditure	-$504M
Acquisitions (Net)	$185M
Purchases of Investments	-$464M
Sales/Maturities of Investments	$605M
Other Investing Activities	$26M
NET CASH FROM INVESTING	-$153M
Net Debt Issuance	-$127M
Common Stock Repurchased	-$18M
Common Dividends Paid	-$171M
Other Financing Activities	$0
NET CASH FROM FINANCING	-$142M
FREE CASH FLOW	-$121M
Net Change in Cash	$82M

Balance Sheet

Item	Amount
Cash & Equivalents	$271M
Short-Term Investments	$493M
Net Receivables	$127M
Inventory	$59M
Other Current Assets	$203M
TOTAL CURRENT ASSETS	$1.0B
PP&E (Net)	$2.5B
Goodwill	$20M
Intangible Assets	$37M
Long-Term Investments	$397M
Tax Assets	$17M
Other Non-Current Assets	$92M
TOTAL NON-CURRENT ASSETS	$3.1B
TOTAL ASSETS	$4.1B
Account Payables	$125M
Short-Term Debt	$188M
Deferred Revenue	$408M
Other Current Liabilities	$147M
TOTAL CURRENT LIABILITIES	$971M
Long-Term Debt	$929M
Deferred Revenue NC	$6M
Deferred Tax Liabilities	$31M
Other Non-Current Liabilities	$94M
TOTAL NON-CURRENT LIABILITIES	$1.0B
TOTAL LIABILITIES	$2.0B
Common Stock	$28M
Additional Paid-In Capital	$53M
Retained Earnings	$2.0B
Treasury Stock	-$18M
Accum. Other Comp. Income	-$9M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.1B
Minority Interest	$0
TOTAL EQUITY	$2.1B
TOTAL LIABILITIES & EQUITY	$4.1B
Total Debt	$1.1B
Net Debt	$845M