TAP FY 2007 Earnings Report — Molson Coors Beverage Company Revenue & Financial Results | Market Cap Arena

Molson Coors Beverage CompanyTAP

FY 2007 Earnings

Reported February 21, 2008

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2007	Prior Q	FY 2006	QoQ Change	YoY Change
Revenue	$6.2B	—	$5.8B	—	5.9%
Op. Income	$641M	—	$581M	—	10.3%
Gross Margin	40.2%	—	40.4%	—	-0.3pp
Net Margin	8.0%	—	6.2%	—	1.9pp
EPS (Diluted)	$2.71	—	$2.08	—	30.3%
Free Cash Flow	$188M	—	$387M	—	-51.5%

Revenue Flow

Item	Amount
REVENUE	$6.2B
Cost of Revenue	$3.7B
GROSS PROFIT	$2.5B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.7B
Other Expenses	$112M
Operating Expenses	$1.8B
Cost & Expenses	$5.5B
OPERATING INCOME	$641M
Interest Income	$27M
Interest Expense	$126M
Other Income/Expenses	-$115M
INCOME BEFORE TAX	$534M
Income Tax Expense	$4M
Net Income from Continuing Ops	$530M
Net Income from Discontinued Ops	$0
Other Adjustments	-$18M
NET INCOME	$497M
Net Income Deductions	$5M
BOTTOM LINE NET INCOME	$492M
D&A	$346M
EBIT	$661M
EBITDA	$1.0B
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$6.2B
Cost of Revenue	$3.7B
GROSS PROFIT	$2.5B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.7B
Other Expenses	$112M
Operating Expenses	$1.8B
Cost & Expenses	$5.5B
OPERATING INCOME	$641M
Interest Income	$27M
Interest Expense	$126M
Other Income/Expenses	-$115M
INCOME BEFORE TAX	$534M
Income Tax Expense	$4M
Net Income from Continuing Ops	$530M
Net Income from Discontinued Ops	$0
Other Adjustments	-$18M
NET INCOME	$497M
Net Income Deductions	$5M
BOTTOM LINE NET INCOME	$492M
D&A	$346M
EBIT	$661M
EBITDA	$1.0B
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$497M
Depreciation & Amortization	$346M
Stock-Based Compensation	$37M
Deferred Income Tax	-$98M
Other Non-Cash Items	$69M
Change in Working Capital	-$236M
OPERATING CASH FLOW	$616M
Capital Expenditure	-$428M
Acquisitions (Net)	-$27M
Purchases of Investments	-$56M
Sales/Maturities of Investments	$32M
Other Investing Activities	$39M
NET CASH FROM INVESTING	-$439M
Net Debt Issuance	-$53M
Common Stock Repurchased	$0
Common Dividends Paid	-$115M
Other Financing Activities	$16M
NET CASH FROM FINANCING	$8M
FREE CASH FLOW	$188M
Net Change in Cash	$195M

Balance Sheet

Item	Amount
Cash & Equivalents	$377M
Short-Term Investments	$0
Net Receivables	$871M
Inventory	$404M
Other Current Assets	$132M
TOTAL CURRENT ASSETS	$1.8B
PP&E (Net)	$2.7B
Goodwill	$3.3B
Intangible Assets	$5.0B
Long-Term Investments	$0
Tax Assets	$337M
Other Non-Current Assets	$256M
TOTAL NON-CURRENT ASSETS	$11.7B
TOTAL ASSETS	$13.5B
Account Payables	$352M
Short-Term Debt	$4M
Deferred Revenue	$0
Other Current Liabilities	$161M
TOTAL CURRENT LIABILITIES	$1.7B
Long-Term Debt	$2.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$891M
Other Non-Current Liabilities	$1.4B
TOTAL NON-CURRENT LIABILITIES	$4.5B
TOTAL LIABILITIES	$6.3B
Common Stock	$2M
Additional Paid-In Capital	$3.0B
Retained Earnings	$2.0B
Treasury Stock	$0
Accum. Other Comp. Income	$1.1B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$7.1B
Minority Interest	$44M
TOTAL EQUITY	$7.2B
TOTAL LIABILITIES & EQUITY	$13.5B
Total Debt	$2.3B
Net Debt	$1.9B