CPA FY 2021 Earnings Report — Copa Holdings, S.A. Revenue & Financial Results | Market Cap Arena

Copa Holdings, S.A.CPA

FY 2021 Earnings

Reported April 4, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$1.5B	—	$801M	—	88.5%
Op. Income	$147M	—	-$218M	—	167.3%
Gross Margin	24.1%	—	-9.4%	—	33.5pp
Net Margin	2.9%	—	-75.8%	—	78.7pp
EPS (Diluted)	$1.03	—	$-14.28	—	107.2%
Free Cash Flow	$24M	—	-$39M	—	160.7%

Revenue Flow

Item	Amount
REVENUE	$1.5B
Cost of Revenue	$1.1B
GROSS PROFIT	$364M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$217M
Other Expenses	$0
Operating Expenses	$217M
Cost & Expenses	$1.4B
OPERATING INCOME	$147M
Interest Income	$11M
Interest Expense	$76M
Other Income/Expenses	-$92M
INCOME BEFORE TAX	$54M
Income Tax Expense	$10M
Net Income from Continuing Ops	$44M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$44M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$44M
D&A	$240M
EBIT	$131M
EBITDA	$371M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.5B
Cost of Revenue	$1.1B
GROSS PROFIT	$364M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$217M
Other Expenses	$0
Operating Expenses	$217M
Cost & Expenses	$1.4B
OPERATING INCOME	$147M
Interest Income	$11M
Interest Expense	$76M
Other Income/Expenses	-$92M
INCOME BEFORE TAX	$54M
Income Tax Expense	$10M
Net Income from Continuing Ops	$44M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$44M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$44M
D&A	$240M
EBIT	$131M
EBITDA	$371M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$44M
Depreciation & Amortization	$240M
Stock-Based Compensation	$7M
Deferred Income Tax	$11M
Other Non-Cash Items	$102M
Change in Working Capital	$104M
OPERATING CASH FLOW	$507M
Capital Expenditure	-$484M
Acquisitions (Net)	$12M
Purchases of Investments	-$1.1B
Sales/Maturities of Investments	$1.0B
Other Investing Activities	$141M
NET CASH FROM INVESTING	-$459M
Net Debt Issuance	$129M
Common Stock Repurchased	-$41M
Common Dividends Paid	$0
Other Financing Activities	$0
NET CASH FROM FINANCING	$89M
FREE CASH FLOW	$24M
Net Change in Cash	$92M

Balance Sheet

Item	Amount
Cash & Equivalents	$211M
Short-Term Investments	$806M
Net Receivables	$97M
Inventory	$75M
Other Current Assets	$44M
TOTAL CURRENT ASSETS	$1.2B
PP&E (Net)	$2.7B
Goodwill	$20M
Intangible Assets	$61M
Long-Term Investments	$200M
Tax Assets	$28M
Other Non-Current Assets	$21M
TOTAL NON-CURRENT ASSETS	$3.0B
TOTAL ASSETS	$4.2B
Account Payables	$113M
Short-Term Debt	$197M
Deferred Revenue	$592M
Other Current Liabilities	$29M
TOTAL CURRENT LIABILITIES	$1.1B
Long-Term Debt	$1.2B
Deferred Revenue NC	$60M
Deferred Tax Liabilities	$19M
Other Non-Current Liabilities	$483M
TOTAL NON-CURRENT LIABILITIES	$1.9B
TOTAL LIABILITIES	$2.9B
Common Stock	$29M
Additional Paid-In Capital	$98M
Retained Earnings	$1.4B
Treasury Stock	-$177M
Accum. Other Comp. Income	-$19M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.3B
Minority Interest	$0
TOTAL EQUITY	$1.3B
TOTAL LIABILITIES & EQUITY	$4.2B
Total Debt	$1.6B
Net Debt	$1.4B