WFG FY 2014 Earnings Report — West Fraser Timber Co. Ltd. Revenue & Financial Results | Market Cap Arena

West Fraser Timber Co. Ltd.WFG

FY 2014 Earnings

Reported December 30, 2014

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	$2.4B	—	$2.4B	—	1.8%
Op. Income	$256M	—	$237M	—	7.9%
Gross Margin	34.2%	—	34.9%	—	-0.8pp
Net Margin	6.7%	—	10.0%	—	-3.3pp
EPS (Diluted)	$1.93	—	$2.79	—	-30.9%
Free Cash Flow	$41M	—	$56M	—	-26.4%

Revenue Flow

Item	Amount
REVENUE	$2.4B
Cost of Revenue	$1.6B
GROSS PROFIT	$830M
R&D Expenses	$0
Selling & Marketing	$345M
General & Administrative	$122M
SG&A Expenses	$468M
Other Expenses	$2M
Operating Expenses	$575M
Cost & Expenses	$2.2B
OPERATING INCOME	$256M
Interest Income	$0
Interest Expense	$18M
Other Income/Expenses	-$20M
INCOME BEFORE TAX	$236M
Income Tax Expense	$73M
Net Income from Continuing Ops	$163M
Net Income from Discontinued Ops	$0
Other Adjustments	$26M
NET INCOME	$163M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$189M
D&A	$107M
EBIT	$251M
EBITDA	$363M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$2.4B
Cost of Revenue	$1.6B
GROSS PROFIT	$830M
R&D Expenses	$0
Selling & Marketing	$345M
General & Administrative	$122M
SG&A Expenses	$468M
Other Expenses	$2M
Operating Expenses	$575M
Cost & Expenses	$2.2B
OPERATING INCOME	$256M
Interest Income	$0
Interest Expense	$18M
Other Income/Expenses	-$20M
INCOME BEFORE TAX	$236M
Income Tax Expense	$73M
Net Income from Continuing Ops	$163M
Net Income from Discontinued Ops	$0
Other Adjustments	$26M
NET INCOME	$163M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$189M
D&A	$107M
EBIT	$251M
EBITDA	$363M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$163M
Depreciation & Amortization	$107M
Stock-Based Compensation	$0
Deferred Income Tax	$73M
Other Non-Cash Items	-$44M
Change in Working Capital	-$9M
OPERATING CASH FLOW	$299M
Capital Expenditure	-$258M
Acquisitions (Net)	-$131M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$5M
NET CASH FROM INVESTING	-$384M
Net Debt Issuance	$0
Common Stock Repurchased	-$70M
Common Dividends Paid	-$15M
Other Financing Activities	$59M
NET CASH FROM FINANCING	-$40M
FREE CASH FLOW	$41M
Net Change in Cash	-$112M

Balance Sheet

Item	Amount
Cash & Equivalents	$15M
Short-Term Investments	-$2M
Net Receivables	$172M
Inventory	$369M
Other Current Assets	$5M
TOTAL CURRENT ASSETS	$571M
PP&E (Net)	$926M
Goodwill	$217M
Intangible Assets	$338M
Long-Term Investments	$37M
Tax Assets	$39M
Other Non-Current Assets	$13M
TOTAL NON-CURRENT ASSETS	$1.6B
TOTAL ASSETS	$2.1B
Account Payables	$127M
Short-Term Debt	$65M
Deferred Revenue	$173M
Other Current Liabilities	$235M
TOTAL CURRENT LIABILITIES	$388M
Long-Term Debt	$223M
Deferred Revenue NC	$141M
Deferred Tax Liabilities	$97M
Other Non-Current Liabilities	$13M
TOTAL NON-CURRENT LIABILITIES	$474M
TOTAL LIABILITIES	$862M
Common Stock	$370M
Additional Paid-In Capital	$0
Retained Earnings	$874M
Treasury Stock	$0
Accum. Other Comp. Income	$35M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.3B
Minority Interest	$0
TOTAL EQUITY	$1.3B
TOTAL LIABILITIES & EQUITY	$2.1B
Total Debt	$288M
Net Debt	$273M