LTM FY 2017 Earnings Report — LATAM Airlines Group S.A. Revenue & Financial Results | Market Cap Arena

LATAM Airlines Group S.A.LTM

FY 2017 Earnings

Reported December 30, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$9.6B	—	$9.0B	—	7.0%
Op. Income	$707M	—	$493M	—	43.3%
Gross Margin	22.6%	—	22.5%	—	0.1pp
Net Margin	1.6%	—	0.8%	—	0.8pp
EPS (Diluted)	$28.60	—	$14.20	—	101.4%
Free Cash Flow	$1.2B	—	$209M	—	462.1%

Revenue Flow

Item	Amount
REVENUE	$9.6B
Cost of Revenue	$7.4B
GROSS PROFIT	$2.2B
R&D Expenses	$0
Selling & Marketing	$700M
General & Administrative	$939M
SG&A Expenses	$1.6B
Other Expenses	-$173M
Operating Expenses	$1.5B
Cost & Expenses	$8.9B
OPERATING INCOME	$707M
Interest Income	$79M
Interest Expense	$393M
Other Income/Expenses	-$333M
INCOME BEFORE TAX	$374M
Income Tax Expense	$174M
Net Income from Continuing Ops	$154M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$155M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$109M
D&A	$1.0B
EBIT	$767M
EBITDA	$1.8B
EPS	$29
EPS Diluted	$29

Income Statement

Item	Amount
REVENUE	$9.6B
Cost of Revenue	$7.4B
GROSS PROFIT	$2.2B
R&D Expenses	$0
Selling & Marketing	$700M
General & Administrative	$939M
SG&A Expenses	$1.6B
Other Expenses	-$173M
Operating Expenses	$1.5B
Cost & Expenses	$8.9B
OPERATING INCOME	$707M
Interest Income	$79M
Interest Expense	$393M
Other Income/Expenses	-$333M
INCOME BEFORE TAX	$374M
Income Tax Expense	$174M
Net Income from Continuing Ops	$154M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$155M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$109M
D&A	$1.0B
EBIT	$767M
EBITDA	$1.8B
EPS	$29
EPS Diluted	$29

Cash Flow Statement

Item	Amount
Net Income	$155M
Depreciation & Amortization	$775M
Stock-Based Compensation	$13M
Deferred Income Tax	$0
Other Non-Cash Items	$723M
Change in Working Capital	$0
OPERATING CASH FLOW	$1.7B
Capital Expenditure	-$491M
Acquisitions (Net)	$7M
Purchases of Investments	-$3.1B
Sales/Maturities of Investments	$3.2B
Other Investing Activities	-$33M
NET CASH FROM INVESTING	-$287M
Net Debt Issuance	-$1.1B
Common Stock Repurchased	$0
Common Dividends Paid	-$67M
Other Financing Activities	-$38M
NET CASH FROM FINANCING	-$1.2B
FREE CASH FLOW	$1.2B
Net Change in Cash	$193M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.1B
Short-Term Investments	$480M
Net Receivables	$1.3B
Inventory	$237M
Other Current Assets	$440M
TOTAL CURRENT ASSETS	$3.7B
PP&E (Net)	$10.1B
Goodwill	$2.7B
Intangible Assets	$1.6B
Long-Term Investments	$47M
Tax Assets	$364M
Other Non-Current Assets	$287M
TOTAL NON-CURRENT ASSETS	$15.1B
TOTAL ASSETS	$18.8B
Account Payables	$1.7B
Short-Term Debt	$1.0B
Deferred Revenue	$2.7B
Other Current Liabilities	$37M
TOTAL CURRENT LIABILITIES	$5.8B
Long-Term Debt	$5.8B
Deferred Revenue NC	$158M
Deferred Tax Liabilities	$950M
Other Non-Current Liabilities	$977M
TOTAL NON-CURRENT LIABILITIES	$8.7B
TOTAL LIABILITIES	$14.5B
Common Stock	$3.1B
Additional Paid-In Capital	$3.1B
Retained Earnings	$475M
Treasury Stock	-$178.0K
Accum. Other Comp. Income	$555M
Other Equity	-$2.6B
TOTAL STOCKHOLDERS' EQUITY	$4.2B
Minority Interest	$91M
TOTAL EQUITY	$4.3B
TOTAL LIABILITIES & EQUITY	$18.8B
Total Debt	$7.9B
Net Debt	$6.7B