CVE FY 2011 Earnings Report — Cenovus Energy Inc. Revenue & Financial Results | Market Cap Arena

Cenovus Energy Inc.CVE

FY 2011 Earnings

Reported February 22, 2012

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2011	Prior Q	FY 2010	QoQ Change	YoY Change
Revenue	$11.8B	—	$9.6B	—	23.6%
Op. Income	$1.6B	—	$844M	—	91.1%
Gross Margin	24.4%	—	20.8%	—	3.6pp
Net Margin	9.1%	—	8.3%	—	0.9pp
EPS (Diluted)	$1.43	—	$1.05	—	36.4%
Free Cash Flow	$352M	—	$282M	—	24.6%

Revenue Flow

Item	Amount
REVENUE	$11.8B
Cost of Revenue	$9.0B
GROSS PROFIT	$2.9B
R&D Expenses	$6M
Selling & Marketing	$0
General & Administrative	$216M
SG&A Expenses	$216M
Other Expenses	$2.7B
Operating Expenses	$2.9B
Cost & Expenses	$11.8B
OPERATING INCOME	$1.6B
Interest Income	$91M
Interest Expense	$312M
Other Income/Expenses	$1M
INCOME BEFORE TAX	$1.6B
Income Tax Expense	$533M
Net Income from Continuing Ops	$1.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.1B
D&A	$947M
EBIT	$1.9B
EBITDA	$2.9B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$11.8B
Cost of Revenue	$9.0B
GROSS PROFIT	$2.9B
R&D Expenses	$6M
Selling & Marketing	$0
General & Administrative	$216M
SG&A Expenses	$216M
Other Expenses	$2.7B
Operating Expenses	$2.9B
Cost & Expenses	$11.8B
OPERATING INCOME	$1.6B
Interest Income	$91M
Interest Expense	$312M
Other Income/Expenses	$1M
INCOME BEFORE TAX	$1.6B
Income Tax Expense	$533M
Net Income from Continuing Ops	$1.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.1B
D&A	$947M
EBIT	$1.9B
EBITDA	$2.9B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$1.1B
Depreciation & Amortization	$0
Stock-Based Compensation	$0
Deferred Income Tax	$430M
Other Non-Cash Items	$885M
Change in Working Capital	-$2M
OPERATING CASH FLOW	$2.4B
Capital Expenditure	-$2.0B
Acquisitions (Net)	$0
Purchases of Investments	-$20M
Sales/Maturities of Investments	$0
Other Investing Activities	$212M
NET CASH FROM INVESTING	-$1.9B
Net Debt Issuance	-$7M
Common Stock Repurchased	$0
Common Dividends Paid	-$441M
Other Financing Activities	$4M
NET CASH FROM FINANCING	-$408M
FREE CASH FLOW	$352M
Net Change in Cash	$143M

Balance Sheet

Item	Amount
Cash & Equivalents	$362M
Short-Term Investments	$0
Net Receivables	$1.3B
Inventory	$944M
Other Current Assets	$255M
TOTAL CURRENT ASSETS	$2.9B
PP&E (Net)	$11.1B
Goodwill	$828M
Intangible Assets	$0
Long-Term Investments	$4M
Tax Assets	-$4M
Other Non-Current Assets	$1.4B
TOTAL NON-CURRENT ASSETS	$13.4B
TOTAL ASSETS	$16.2B
Account Payables	$108M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$232M
TOTAL CURRENT LIABILITIES	$2.5B
Long-Term Debt	$3.9B
Deferred Revenue NC	$26M
Deferred Tax Liabilities	$1.5B
Other Non-Current Liabilities	$1.4B
TOTAL NON-CURRENT LIABILITIES	$6.9B
TOTAL LIABILITIES	$9.4B
Common Stock	$2.8B
Additional Paid-In Capital	$3.0B
Retained Earnings	$0
Treasury Stock	$0
Accum. Other Comp. Income	$87M
Other Equity	$1.0B
TOTAL STOCKHOLDERS' EQUITY	$6.9B
Minority Interest	$0
TOTAL EQUITY	$6.9B
TOTAL LIABILITIES & EQUITY	$16.2B
Total Debt	$2.6B
Net Debt	$2.2B