ENB FY 2008 Earnings Report — Enbridge Inc. Revenue & Financial Results | Market Cap Arena

Enbridge Inc.ENB

FY 2008 Earnings

Reported December 30, 2008

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2008	Prior Q	FY 2007	QoQ Change	YoY Change
Revenue	$11.8B	—	$8.7B	—	35.3%
Op. Income	$1.0B	—	$841M	—	19.1%
Gross Margin	20.7%	—	24.4%	—	-3.7pp
Net Margin	8.2%	—	5.9%	—	2.3pp
EPS (Diluted)	$1.33	—	$0.72	—	85.7%
Free Cash Flow	-$1.6B	—	-$673M	—	-144.2%

Revenue Flow

Item	Amount
REVENUE	$11.8B
Cost of Revenue	$9.4B
GROSS PROFIT	$2.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$960M
Other Expenses	$482M
Operating Expenses	$1.4B
Cost & Expenses	$10.8B
OPERATING INCOME	$1.0B
Interest Income	$0
Interest Expense	$403M
Other Income/Expenses	$383M
INCOME BEFORE TAX	$1.3B
Income Tax Expense	$372M
Net Income from Continuing Ops	$1.0B
Net Income from Discontinued Ops	$0
Other Adjustments	$219.4K
NET INCOME	$971M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$966M
D&A	$482M
EBIT	$1.8B
EBITDA	$2.3B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$11.8B
Cost of Revenue	$9.4B
GROSS PROFIT	$2.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$960M
Other Expenses	$482M
Operating Expenses	$1.4B
Cost & Expenses	$10.8B
OPERATING INCOME	$1.0B
Interest Income	$0
Interest Expense	$403M
Other Income/Expenses	$383M
INCOME BEFORE TAX	$1.3B
Income Tax Expense	$372M
Net Income from Continuing Ops	$1.0B
Net Income from Discontinued Ops	$0
Other Adjustments	$219.4K
NET INCOME	$971M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$966M
D&A	$482M
EBIT	$1.8B
EBITDA	$2.3B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$971M
Depreciation & Amortization	$482M
Stock-Based Compensation	$0
Deferred Income Tax	$189M
Other Non-Cash Items	-$619M
Change in Working Capital	-$8M
OPERATING CASH FLOW	$1.0B
Capital Expenditure	-$2.7B
Acquisitions (Net)	-$34M
Purchases of Investments	-$482M
Sales/Maturities of Investments	$1.0B
Other Investing Activities	$78M
NET CASH FROM INVESTING	-$2.1B
Net Debt Issuance	$1.6B
Common Stock Repurchased	$0
Common Dividends Paid	-$263M
Other Financing Activities	-$7M
NET CASH FROM FINANCING	$1.3B
FREE CASH FLOW	-$1.6B
Net Change in Cash	$278M

Balance Sheet

Item	Amount
Cash & Equivalents	$396M
Short-Term Investments	$0
Net Receivables	$1.7B
Inventory	$618M
Other Current Assets	$127M
TOTAL CURRENT ASSETS	$2.7B
PP&E (Net)	$12.0B
Goodwill	$285M
Intangible Assets	$165M
Long-Term Investments	$1.8B
Tax Assets	$130M
Other Non-Current Assets	$964M
TOTAL NON-CURRENT ASSETS	$15.4B
TOTAL ASSETS	$18.1B
Account Payables	$1.8B
Short-Term Debt	$1.2B
Deferred Revenue	$0
Other Current Liabilities	-$73.1K
TOTAL CURRENT LIABILITIES	$3.0B
Long-Term Debt	$8.5B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$944M
Other Non-Current Liabilities	$189M
TOTAL NON-CURRENT LIABILITIES	$9.6B
TOTAL LIABILITIES	$12.6B
Common Stock	$2.3B
Additional Paid-In Capital	$28M
Retained Earnings	$2.5B
Treasury Stock	$122M
Accum. Other Comp. Income	$24M
Other Equity	$9M
TOTAL STOCKHOLDERS' EQUITY	$4.8B
Minority Interest	$583M
TOTAL EQUITY	$5.4B
TOTAL LIABILITIES & EQUITY	$18.1B
Total Debt	$9.7B
Net Debt	$9.3B