CVE FY 2014 Earnings Report — Cenovus Energy Inc. Revenue & Financial Results | Market Cap Arena

Cenovus Energy Inc.CVE

FY 2014 Earnings

Reported February 13, 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	$14.7B	—	$13.9B	—	5.9%
Op. Income	$1.2B	—	$1.5B	—	-16.6%
Gross Margin	21.2%	—	22.9%	—	-1.7pp
Net Margin	3.7%	—	3.5%	—	0.2pp
EPS (Diluted)	$0.72	—	$0.64	—	12.6%
Free Cash Flow	$342M	—	$197M	—	73.3%

Revenue Flow

Item	Amount
REVENUE	$14.7B
Cost of Revenue	$11.6B
GROSS PROFIT	$3.1B
R&D Expenses	$11M
Selling & Marketing	$0
General & Administrative	$277M
SG&A Expenses	$277M
Other Expenses	$2.8B
Operating Expenses	$3.1B
Cost & Expenses	$14.7B
OPERATING INCOME	$1.2B
Interest Income	$24M
Interest Expense	$312M
Other Income/Expenses	-$364M
INCOME BEFORE TAX	$874M
Income Tax Expense	$330M
Net Income from Continuing Ops	$544M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$544M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$544M
D&A	$1.4B
EBIT	$1.2B
EBITDA	$2.6B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$14.7B
Cost of Revenue	$11.6B
GROSS PROFIT	$3.1B
R&D Expenses	$11M
Selling & Marketing	$0
General & Administrative	$277M
SG&A Expenses	$277M
Other Expenses	$2.8B
Operating Expenses	$3.1B
Cost & Expenses	$14.7B
OPERATING INCOME	$1.2B
Interest Income	$24M
Interest Expense	$312M
Other Income/Expenses	-$364M
INCOME BEFORE TAX	$874M
Income Tax Expense	$330M
Net Income from Continuing Ops	$544M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$544M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$544M
D&A	$1.4B
EBIT	$1.2B
EBITDA	$2.6B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$544M
Depreciation & Amortization	$0
Stock-Based Compensation	$0
Deferred Income Tax	$263M
Other Non-Cash Items	$1.7B
Change in Working Capital	$34M
OPERATING CASH FLOW	$2.6B
Capital Expenditure	-$2.2B
Acquisitions (Net)	$0
Purchases of Investments	-$1.2B
Sales/Maturities of Investments	$0
Other Investing Activities	$213M
NET CASH FROM INVESTING	-$3.2B
Net Debt Issuance	-$13M
Common Stock Repurchased	$0
Common Dividends Paid	-$589M
Other Financing Activities	$19M
NET CASH FROM FINANCING	-$583M
FREE CASH FLOW	$342M
Net Change in Cash	-$1.1B

Balance Sheet

Item	Amount
Cash & Equivalents	$646M
Short-Term Investments	$0
Net Receivables	$1.1B
Inventory	$895M
Other Current Assets	$456M
TOTAL CURRENT ASSETS	$3.1B
PP&E (Net)	$14.8B
Goodwill	$177M
Intangible Assets	$0
Long-Term Investments	$26M
Tax Assets	$0
Other Non-Current Assets	$25M
TOTAL NON-CURRENT ASSETS	$15.0B
TOTAL ASSETS	$18.1B
Account Payables	$37M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$75M
TOTAL CURRENT LIABILITIES	$2.2B
Long-Term Debt	$4.0B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$4.5B
TOTAL NON-CURRENT LIABILITIES	$8.4B
TOTAL LIABILITIES	$10.6B
Common Stock	$2.8B
Additional Paid-In Capital	$3.1B
Retained Earnings	$1.2B
Treasury Stock	$0
Accum. Other Comp. Income	$298M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$7.5B
Minority Interest	$0
TOTAL EQUITY	$7.5B
TOTAL LIABILITIES & EQUITY	$18.1B
Total Debt	$4.0B
Net Debt	$3.3B