CVE FY 2012 Earnings Report — Cenovus Energy Inc. Revenue & Financial Results | Market Cap Arena

Cenovus Energy Inc.CVE

FY 2012 Earnings

Reported February 20, 2013

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2012	Prior Q	FY 2011	QoQ Change	YoY Change
Revenue	$12.6B	—	$11.8B	—	6.5%
Op. Income	$1.5B	—	$1.6B	—	-4.8%
Gross Margin	24.6%	—	24.4%	—	0.2pp
Net Margin	5.8%	—	9.1%	—	-3.4pp
EPS (Diluted)	$0.96	—	$1.43	—	-32.8%
Free Cash Flow	-$21M	—	$352M	—	-106.0%

Revenue Flow

Item	Amount
REVENUE	$12.6B
Cost of Revenue	$9.5B
GROSS PROFIT	$3.1B
R&D Expenses	$11M
Selling & Marketing	$0
General & Administrative	$256M
SG&A Expenses	$256M
Other Expenses	$2.8B
Operating Expenses	$3.1B
Cost & Expenses	$12.6B
OPERATING INCOME	$1.5B
Interest Income	$80M
Interest Expense	$317M
Other Income/Expenses	-$235M
INCOME BEFORE TAX	$1.3B
Income Tax Expense	$573M
Net Income from Continuing Ops	$728M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$728M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$728M
D&A	$1.2B
EBIT	$1.6B
EBITDA	$2.8B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$12.6B
Cost of Revenue	$9.5B
GROSS PROFIT	$3.1B
R&D Expenses	$11M
Selling & Marketing	$0
General & Administrative	$256M
SG&A Expenses	$256M
Other Expenses	$2.8B
Operating Expenses	$3.1B
Cost & Expenses	$12.6B
OPERATING INCOME	$1.5B
Interest Income	$80M
Interest Expense	$317M
Other Income/Expenses	-$235M
INCOME BEFORE TAX	$1.3B
Income Tax Expense	$573M
Net Income from Continuing Ops	$728M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$728M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$728M
D&A	$1.2B
EBIT	$1.6B
EBITDA	$2.8B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$726M
Depreciation & Amortization	$1.2B
Stock-Based Compensation	$55M
Deferred Income Tax	$347M
Other Non-Cash Items	$377M
Change in Working Capital	-$163M
OPERATING CASH FLOW	$2.5B
Capital Expenditure	-$2.5B
Acquisitions (Net)	$0
Purchases of Investments	-$10M
Sales/Maturities of Investments	$0
Other Investing Activities	$92M
NET CASH FROM INVESTING	-$2.4B
Net Debt Issuance	$894M
Common Stock Repurchased	$0
Common Dividends Paid	-$486M
Other Financing Activities	-$1M
NET CASH FROM FINANCING	$433M
FREE CASH FLOW	-$21M
Net Change in Cash	$486M

Balance Sheet

Item	Amount
Cash & Equivalents	$848M
Short-Term Investments	$0
Net Receivables	$1.1B
Inventory	$942M
Other Current Assets	$623M
TOTAL CURRENT ASSETS	$3.3B
PP&E (Net)	$12.8B
Goodwill	$541M
Intangible Assets	$0
Long-Term Investments	$10M
Tax Assets	$0
Other Non-Current Assets	$1.1B
TOTAL NON-CURRENT ASSETS	$14.4B
TOTAL ASSETS	$17.7B
Account Payables	$97M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$156M
TOTAL CURRENT LIABILITIES	$2.4B
Long-Term Debt	$3.4B
Deferred Revenue NC	$23M
Deferred Tax Liabilities	$1.9B
Other Non-Current Liabilities	$2.8B
TOTAL NON-CURRENT LIABILITIES	$8.1B
TOTAL LIABILITIES	$10.6B
Common Stock	$2.8B
Additional Paid-In Capital	$3.0B
Retained Earnings	$1.3B
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	$52M
TOTAL STOCKHOLDERS' EQUITY	$7.2B
Minority Interest	$0
TOTAL EQUITY	$7.2B
TOTAL LIABILITIES & EQUITY	$17.7B
Total Debt	$3.4B
Net Debt	$2.6B