LTM FY 2016 Earnings Report — LATAM Airlines Group S.A. Revenue & Financial Results | Market Cap Arena

LATAM Airlines Group S.A.LTM

FY 2016 Earnings

Reported December 30, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2016	Prior Q	FY 2015	QoQ Change	YoY Change
Revenue	$9.0B	—	$9.7B	—	-7.7%
Op. Income	$493M	—	$449M	—	10.0%
Gross Margin	22.5%	—	21.6%	—	0.9pp
Net Margin	0.8%	—	-2.3%	—	3.0pp
EPS (Diluted)	$14.20	—	$-44.80	—	131.7%
Free Cash Flow	$209M	—	$93M	—	124.2%

Revenue Flow

Item	Amount
REVENUE	$9.0B
Cost of Revenue	$7.0B
GROSS PROFIT	$2.0B
R&D Expenses	$0
Selling & Marketing	$747M
General & Administrative	$873M
SG&A Expenses	$1.6B
Other Expenses	-$92M
Operating Expenses	$1.5B
Cost & Expenses	$8.5B
OPERATING INCOME	$493M
Interest Income	$75M
Interest Expense	$416M
Other Income/Expenses	-$219M
INCOME BEFORE TAX	$274M
Income Tax Expense	$163M
Net Income from Continuing Ops	$111M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$69M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$69M
D&A	$916M
EBIT	$493M
EBITDA	$1.4B
EPS	$14
EPS Diluted	$14

Income Statement

Item	Amount
REVENUE	$9.0B
Cost of Revenue	$7.0B
GROSS PROFIT	$2.0B
R&D Expenses	$0
Selling & Marketing	$747M
General & Administrative	$873M
SG&A Expenses	$1.6B
Other Expenses	-$92M
Operating Expenses	$1.5B
Cost & Expenses	$8.5B
OPERATING INCOME	$493M
Interest Income	$75M
Interest Expense	$416M
Other Income/Expenses	-$219M
INCOME BEFORE TAX	$274M
Income Tax Expense	$163M
Net Income from Continuing Ops	$111M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$69M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$69M
D&A	$916M
EBIT	$493M
EBITDA	$1.4B
EPS	$14
EPS Diluted	$14

Cash Flow Statement

Item	Amount
Net Income	$69M
Depreciation & Amortization	$916M
Stock-Based Compensation	$8M
Deferred Income Tax	$0
Other Non-Cash Items	-$13M
Change in Working Capital	$0
OPERATING CASH FLOW	$992M
Capital Expenditure	-$783M
Acquisitions (Net)	-$13M
Purchases of Investments	-$2.7B
Sales/Maturities of Investments	$3.0B
Other Investing Activities	-$12M
NET CASH FROM INVESTING	-$443M
Net Debt Issuance	-$336M
Common Stock Repurchased	$0
Common Dividends Paid	-$41M
Other Financing Activities	-$627M
NET CASH FROM FINANCING	-$396M
FREE CASH FLOW	$209M
Net Change in Cash	$196M

Balance Sheet

Item	Amount
Cash & Equivalents	$949M
Short-Term Investments	$684M
Net Receivables	$1.3B
Inventory	$241M
Other Current Assets	$351M
TOTAL CURRENT ASSETS	$3.6B
PP&E (Net)	$10.5B
Goodwill	$2.7B
Intangible Assets	$1.6B
Long-Term Investments	$45M
Tax Assets	$385M
Other Non-Current Assets	$323M
TOTAL NON-CURRENT ASSETS	$15.6B
TOTAL ASSETS	$19.2B
Account Payables	$922M
Short-Term Debt	$1.5B
Deferred Revenue	$2.7B
Other Current Liabilities	$52M
TOTAL CURRENT LIABILITIES	$6.2B
Long-Term Debt	$6.0B
Deferred Revenue NC	$214M
Deferred Tax Liabilities	$916M
Other Non-Current Liabilities	$871M
TOTAL NON-CURRENT LIABILITIES	$8.8B
TOTAL LIABILITIES	$15.0B
Common Stock	$3.1B
Additional Paid-In Capital	$3.1B
Retained Earnings	$366M
Treasury Stock	-$178.0K
Accum. Other Comp. Income	$581M
Other Equity	-$3.1B
TOTAL STOCKHOLDERS' EQUITY	$4.1B
Minority Interest	$89M
TOTAL EQUITY	$4.2B
TOTAL LIABILITIES & EQUITY	$19.2B
Total Debt	$8.6B
Net Debt	$7.7B