Golar LNG Q4 and Full Year Report 2013

PRELIMINARY FOURTH QUARTER AND FINANCIAL YEAR 2013 RESULTS

Highlights

• Golar LNG ("Golar" or the "Company") reports a fourth quarter 2013 ("fourth quarter") net income of $4.3 million (including a non-cash gain of $13.2 million on interest rate swaps).
• EBITDA* generated in the quarter amounts to a loss of $5.5 million.
• The Company takes delivery of the Golar Seal ("Seal") and Golar Celsius ("Celsius") in October.
• LNG carrier Golar Arctic completes scheduled drydock during November on time and budget.
• Golar agrees to sell its interest in the floating storage and regasification unit ("FSRU") Golar Igloo to Golar LNG Partners (the "Partnership" or "Golar Partners") for $310 million, subject to certain closing conditions.
• Golar Partners completes its fourth follow-on equity offering raising net proceeds of $150 million.  Concurrent to this public offering, Golar sells 3.4 million of its common units representing limited partner interests in Golar Partners raising net proceeds of $98.9 million.
• Gimi proceeds to layup in Far-East.
• Spot and short term chartering market becomes challenging driven by production shutdowns and an increasing number of available vessels.
• Board maintains dividend at $0.45 for the quarter.

* Adjusted EBITDA is defined as earnings before interest, depreciation and amortization equal to operating income plus depreciation and amortization.


 
For more information, click the link below
GLNG Q4-2013

Digital Realty Q4 and Full Year Report 2013

Full-Year and Fourth Quarter 2013 Highlights

• Reported FFO per share of $4.74 for full-year 2013, up 7% from $4.44 in 2012
• Reported FFO per share of $1.26 in 4Q13, up 9% from $1.16 in 4Q12
• Reported core FFO per share of $4.78 in full-year 2013, up 7% from $4.46 in 2012
• Reported core FFO per share of $1.26 in 4Q13, up 6% from $1.19 in 4Q12
• Signed leases during 4Q13 expected to generate $54 million in annualized GAAP rental revenue, bringing the full-year 2013 total to $161 million, the highest quarter and full-year signings volume in the company's history 

2014 Outlook

Digital Realty today reiterated its 2014 core FFO per share outlook of $4.75-$4.90.  The assumptions underlying this guidance are unchanged from the outlook detailed in the Company's press release dated January 6, 2014.


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DLR Q4-2013

Dividend Increase; The Coca-Cola Company (KO)

Feb. 20, 2014 the Board of Directors of The Coca-Cola Company approved the Company's 52nd consecutive annual dividend increase, raising the quarterly dividend 9 percent from 28 cents to 30.5 cents per common share.  This is equivalent to an annual dividend of $1.22 per share, up from $1.12 per share in 2013.  The first quarterly dividend is payable April 1, 2014, to shareowners of record as of March 14, 2014.

The increase reflects the Board's confidence in the Company's long-term cash flow. The Coca-Cola Company returned $9.8 billion to shareowners in 2013, through $5.0 billion in dividends and $4.8 billion in gross share repurchases, bringing to $34.7 billion the amount returned to shareowners through dividends and share repurchases since Jan. 1, 2010.

Since I own 150 shares, this will increase my yearly income by $15.00.

Click here to see my holdings.

Recent Buy PepsiCo Inc. PEP

19th February 2014 I Bought 100 shares of PEP at $77.65 per share plus comission.

PepsiCo, Inc. (PepsiCo) is a global food and beverage company. Through the Company's bottlers, contract manufacturers and other partners, it makes, markets, sells and distributes a range of foods and beverages in more than 200 countries and territories. PepsiCo is organized into four business units: PepsiCo Americas Foods (PAF), which includes Frito-Lay North America (FLNA), Quaker Foods North America (QFNA) and all of its Latin American food and snack businesses (LAF); PepsiCo Americas Beverages (PAB), which includes all of its North American and Latin American beverage businesses; PepsiCo Europe, which includes all beverage, food and snack businesses in Europe and South Africa, and PepsiCo Asia, Middle East and Africa (AMEA), which includes all beverage, food and snack businesses in AMEA, excluding South Africa. It manufactures markets and sells a range of salty, sweet and grain-based snacks, carbonated and non-carbonated beverages, dairy products and other foods. 

The Coca-Cola Company Q4 and Full Year Report 2013

Full-Year and Fourth Quarter 2013 Highlights

• Global volume grew 2% for the full year and 1% for the fourth quarter.
• Reported net revenues declined 2% for the full year and 4% for the fourth quarter. Excluding the impact of structural changes, comparable currency neutral net revenues grew 3% for the full year and 4% for the fourth quarter.
• Reported operating income declined 5% for the full year and 4% for the fourth quarter.  Excluding the impact of structural changes, comparable currency neutral operating income grew 6% for the full year, in line with our long-term growth target, and 6% for the fourth quarter.
• Currency was a 2% headwind on comparable net revenues and a 4% headwind on comparable operating income for the full year.
• Full-year reported EPS was $1.90, down 3%, and comparable EPS was $2.08, up 3%. Comparable currency neutral EPS was up 8% for the full year.  Fourth quarter reported EPS was $0.38, down 7%, and comparable EPS was $0.46, up 2%. Comparable currency neutral EPS was up 7% for the fourth quarter.
• We are expanding our previously announced productivity and reinvestment program to generate an incremental $1 billion in productivity by 2016 to drive increased media investments in our brands.
• As announced on Feb. 5, 2014, we signed an agreement together with Green Mountain Coffee Roasters to collaborate on the development and introduction of our global brand portfolio for use in the forthcoming Keurig Cold™ at-home beverage system.  

For more information, click the link below
KO Q4-2013
    

Kraft Foods Group Q4 and Full Year Report 2013

KRAFT FOODS GROUP REPORTS FOURTH QUARTER AND FULL YEAR 2013 RESULTS

2013 FINANCIAL SUMMARY

Net revenues grew 2.3 percent in Q4 and declined 0.3 percent to $18.2 billion in 2013.

• Fourth quarter Organic Net Revenues were up 3.2 percent driven by volume/mix gains of 4.0 percentage points that were partially offset by a negative 0.8 percentage point impact from lower pricing that primarily reflected lower costs for ingredients such as raw nuts and coffee beans.
• Volume/mix gains reflected base business growth as well as a favorable impact of approximately 3 percentage points from comparisons with retail customer inventory reductions following the 2012 spin-off from Mondelēz International. These gains were partially offset by approximately 1 percentage point from product line pruning.
• Full year Organic Net Revenues were flat versus the prior year. Volume/mix gains from base business growth were offset by product line pruning of approximately 1 percentage point and a 0.6 percentage point impact from lower pricing.

Operating income was $1.5 billion in Q4 and was up 71.9 percent to $4.6 billion in 2013.

• Fourth quarter operating income included a $782 million benefit from market-based impacts to post-employment benefit plans primarily driven by higher discount rates and higher asset returns.
  Excluding the market-based impacts to post-employment benefit plans, operating income increased more than 50 percent from a combination of lower spending on cost savings initiatives, volume/mix gains, favorable marketing costs related to program timing and productivity savings.
• Full year operating income included a $1,561 million benefit from market-based impacts to post-employment benefit plans.
  Excluding this benefit, operating income was up approximately 5 percent versus the prior year, despite the incremental costs of becoming a standalone public company. Significant overhead cost savings as well as gains from productivity and volume/mix more than offset a negative impact from pricing net of commodity costs and a double-digit increase in advertising.

Earnings per share were $1.54 in Q4 and $4.51 in 2013.

• Fourth quarter EPS increased $1.39, including a $1.11 benefit from market-based impacts to post-employment benefit plans. EPS growth was also driven by gains from operations, lower spending on cost savings initiatives and a favorable change in unrealized gains/losses from hedging activities.
• Full year EPS increased $1.76, including a $1.90 benefit from market-based impacts to post-employment benefit plans. Excluding this benefit, lower EPS versus the prior year was driven by strong gains from operations that were more than offset by higher interest expense. The higher interest expense in 2013 reflected a full year of Kraft’s capital structure as an independent company.

Free Cash Flow was $1.5 billion in 2013.

• Free Cash Flow reflected improved management of inventory and payables as well as the impact of approximately $600 million in pension plan contributions.

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KRFT Q4-2013

Oriflame Q4 and Full Year Report 2013

Year-end report 1 January - 31 December 2013

3 months ended 31 December 2013

• Local currency sales decreased by 1% and Euro sales decreased by 10% to €371.2m (€410.6m).

• Number of active consultants increased by 1% to 3.5m.

• EBITDA amounted to €52.0m (€64.1m).

• Adjusted operating margin was 12.6% (13.7%) resulting in an adjusted operating profit of €46.8m (€56.2m).

• Adjusted net profit amounted to €27.2m (€37.2m) and adjusted EPS amounted to €0.49 (€0.65).

• Cash flow from operating activities amounted to €63.7m (€77.9m).

• First quarter update: The underlying sales development in the first quarter to date is around -3% in local currency.

12 months ended 31 December 2013

• Local currency sales decreased by 1% and Euro sales decreased by 6% to €1,406.7m (€1,489.3m).

• EBITDA amounted to €166.5m (€204.2m).  

• Adjusted operating margin was 10.1% (11.8%) resulting in an adjusted operating profit of €142.4m (€175.1m).

• Adjusted net profit amounted to €84.4m (€121.5m) and adjusted EPS amounted to €1.52 (€2.13).

• Cash flow from operating activities amounted to €112.1m (€183.7m).

• The Board of Directors will propose a total dividend for 2013 of €1.00 (€1.75) per share, corresponding to 71 percent of net profit, as previously communicated paid in quarterly instalments, with the first payment amounting to €0.25 per share payable following the AGM on 19 May 2014.

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Oriflame Q4-2013

 

TAL International Q4 and Full Year Report 2013

TAL International Group, Inc. Reports Fourth Quarter and Full Year 2013 Results and Declares $0.72 Quarterly Dividend

• TAL reported Adjusted pre-tax income of $6.41 per share for the year ending December 31, 2013, an increase of 6.0% from 2012. TAL reported leasing revenues of $567.4 million for the year ending December 31, 2013, an increase of 8.1% from 2012.

• TAL reported Adjusted pre-tax income of $1.52 per fully diluted common share for the fourth quarter of 2013, a decrease of 5.0% from the fourth quarter of 2012. TAL reported leasing revenues of $146.9 million for the fourth quarter of 2013, an increase of 5.8% from the fourth quarter of 2012.

• TAL continues to achieve outstanding operational performance. Utilization averaged 97.0% for the fourth quarter of 2013, and TAL purchased over $640 million of new and sale-leaseback containers for delivery in 2013.

• TAL announced a $0.02 increase in its quarterly dividend to $0.72 per share payable on March 24, 2014 to shareholders of record as of March 3, 2014.

 Outlook

• Mr. Sondey “Most forecasters expect global containerized trade growth to remain relatively low in 2014, especially when compared to our industry’s long-term historical growth rate. However, our leasing activity for January was stronger than expected, with a solid level of deal activity and positive movement in new container prices and lease rates. It is not yet clear whether January’s good performance was the result of temporary factors, such as an early Lunar New Year, or the first indication that trade growth may surprise to the upside in 2014.” 

• “The first quarter usually represents our weakest quarter of the year because it is typically the slow season for our dry container product line. While lease activity has so far been stronger than expected, we would need to see activity remain unusually strong to fully overcome the typical seasonal drag. In addition, the first quarter also has the fewest number of days, leading to reduced per diem revenue. We also expect our first quarter results to continue to be impacted by the ongoing gradual normalization of our disposal gains. As a result, we expect our adjusted pre-tax income to decrease from the fourth quarter of 2013 to the first quarter of 2014.”

• “After the first quarter, we expect improved seasonality and ongoing fleet growth to lead to sequential growth in our profitability through the rest of 2014. For the full year, we believe it will be difficult for our fleet growth to fully overcome the impact of normalizing disposal gains, and we expect our adjusted pre-tax income to be down from our record year in 2013. Nonetheless, we expect our operating and financial performance to remain at a high level in 2014.” 

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TAL Q4-2013
  
     

Dividend Increase; Digital Realty (DLR)

Digital Realty announced yesterday a dividend increase of 6.0% from $0.78 to $0.83 per share.  The cash dividend is payable on March 31st to shareholders of record as of March 14th. 
This is the 12th dividend increase since our IPO in 2004. On an annualized basis, this represents an increase of 6.4% over the 2013 annualized dividend of $3.12 per share, and a compound annual growth rate of 14.3% since our first full quarter of operations following our IPO," said A. William Stein, Chief Financial Officer and Chief Investment Officer of Digital Realty.

Since I own 120 shares, this will increase my yearly income by $24.00.

Click here to see my holdings.

Prosafe Q4 and Full Year Report 2013

Fourth quarter

• Operating profit for the fourth quarter amounted to USD 67 million (USD 45.5 million). Utilisation of the fleet was 82 per cent (82 per cent). The rise in operating profit is mainly due to higher day rates.

• Net financial costs amounted to USD 6.8 million (USD 4.9 million). Interest income is down due to the settlement of the seller’s credit agreement entered into in relation to the sale of Safe Esbjerg in 2012.

• Net profit equalled USD 59.7 million (USD 42.3 million), corresponding to diluted earnings per share of USD 0.25 (USD 0.19).

• Total assets at 31 December amounted to USD 1 618 million (USD 1 487.2 million). Net interest-bearing debt equalled USD 666.2 million (USD 706.8 million), while the book equity ratio increased to 45.7 per cent (34.6 per cent).

• The Board of Directors has resolved to declare an interim dividend equivalent to USD 0.16 per share to shareholders of record as of 18 February 2014. The shares will trade ex-dividend on 14 February 2014. The dividend will be paid in the form of NOK 1.00 per share on 28 February 2014.

   

 Full year 2013

• Operating profit for 2013 amounted to USD 245.1 million (USD 222.4 million), with utilisation of the fleet rising to 83 per cent (82 per cent). 

• In 2013, Prosafe had over 1 million exposure hours and zero lost time injuries.

• Net financial expenses for 2013 amounted to USD 41.3 million (USD 44.4 million). In accordance with IFRS, interest costs totalling USD 4.5 million (USD 3.7 million) have been allocated to new build and refurbishment projects, and consequently capitalised as part of the vessel costs.

• Net profit for 2013 equalled USD 199.1 million (USD 177.5 million) and diluted earnings per share were USD 0.85 (USD 0.80).

Outlook 

• Prosafe saw a strong contract inflow during 2013, and the gross value of the contract backlog amounted to approximately USD 1.7bn (incl. options) at the end of the year, by far the highest level ever seen in Prosafe’s history.

• The accommodation market remains busy with a large amount of enquiries from clients both in the North Sea and the rest of the world. There are, however, fewer tenders taking place than at the same point in time last year, and it is likely that the contract inflow in 2014 will be lower than the record level experienced in 2013.

For more information, click the link below
Prosafe Q4-2013

Philip Morris International Q4 and Full Year Report 2013

PHILIP MORRIS INTERNATIONAL INC. (PMI) REPORTS 2013 RESULTS;
PROVIDES 2014 EARNINGS PER SHARE FORECAST

2013 Fourth-Quarter

• Reported diluted earnings per share of $1.24, down by $0.01 or 0.8% versus $1.25 in 2012

• Adjusted diluted earnings per share of $1.37, up by $0.13 or 10.5% versus $1.24 in 2012

• Cigarette shipment volume of 223.2 billion units, down by 4.3%

• Reported net revenues, excluding excise taxes, of $7.8 billion, down by 1.3%

• Reported operating companies income of $3.2 billion, down by 1.8%

• Adjusted operating companies income of $3.5 billion, up by 6.3%

 

2013 Full-Year

• Reported diluted earnings per share of $5.26, up by $0.09 or 1.7% versus $5.17 in 2012

• Adjusted diluted earnings per share of $5.40, up by $0.18 or 3.4% versus $5.22 in 2012

• Cigarette shipment volume of 880.2 billion units, down by 5.1%

• Reported net revenues, excluding excise taxes, of $31.2 billion, down by 0.5%

• Reported operating companies income of $13.8 billion, down by 2.7%

• Adjusted operating companies income, reflecting the items detailed in the attached Schedule 15, of $14.1 billion, down by 1.1%

• Reported operating income of $13.5 billion, down by 2.5%

• Regular quarterly dividend increased by 10.6% to an annualized rate of $3.76 per common share

• Repurchased 67.2 million shares of the company's common stock for $6.0 billion

Forecast 2014

• Forecasts 2014 full-year reported diluted earnings per share to be in a range of $5.02 to $5.12, at prevailing exchange rates, versus $5.26 in 2013. Excluding an unfavorable currency impact, at prevailing exchange rates, of approximately $0.71 for the full-year 2014, the reported diluted earnings per share range represents a projected increase of 6% to 8% versus adjusted diluted earnings per share of $5.40 in 2013

• Forecast includes a one-year gross productivity and cost savings target for 2014 of approximately $300 million

• Forecast includes a share repurchase target for 2014 of $4.0 billion

For more information, click the link below
PHILIP MORRIS INTERNATIONAL Q4-2013

 

Gjensidige Q4 and Full Year Report 2013

Fourth quarter and preliminary 2013

Fourth quarter:

Group

• Profit/loss before tax expense: NOK 1,283.1 million (1,381.3)

• Profit per share: NOK 2.27 (2.01)

General insurance

• Earned premiums: NOK 4,766.3 million (4,418.2)

• Underwriting result: NOK 375.7 million (602.7)

• Combined ratio: 92.1 (86.4)

• Cost ratio: 15.2 (16.0)

• Financial result: NOK 877.6 million (773.1)

Full year:
 
Group

• Profit/loss before tax expense: NOK 4,574.1 million (5,633.5)

• Profit per share: NOK 7.34 (8.56)

General insurance

• Earned premiums: NOK 18,736.9 million (17,797.3)

• Underwriting result: NOK 2,019.6 million (2,607.8)

• Combined ratio: 89.2 (85.3)

• Cost ratio: 15.3 (15.5)

• Financial result: NOK 2,480.9 million (3,005.1)

Proposed dividend

• Proposed total dividend: NOK 6,400.0 million (3,425.0)

• Proposed total dividend per share: NOK 12.80 (6.85)

     –– Dividend based on profit for the year: NOK 6.80
     –– Dividend based on distribution of excess capital: NOK 6.00

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Gjensidige Q4-2013

Orion Q4 and Full Year Report 2013

Orion Group Financial Statement Release for 2013 and Outlook for 2014.

• Orion’s net sales in 2013 totalled EUR 1,007 million (EUR 980 million in 2012), up by 3% on the previous year.

• Operating profit was EUR 268 (278) million.

• Profit before taxes was EUR 264 (277) million.

• Equity ratio was 54% (61%).

• ROCE before taxes was 39% (46%).

• ROE after taxes was 40% (41%).

• Basic earnings per share were EUR 1.46 (1.47).

• Cash flow per share before financial items was EUR 1.02 (1.23).

• Board’s proposal for dividend per share is EUR 1.25 (1.30).

• Orion has signed a licensing agreement with Janssen Pharmaceuticals for development and commercialisation of ORM-12741.

Outlook for 2014

• Net sales will be at similar level to 2013 (net sales in 2013 were EUR 1,007 million).

• Operating profit will be slightly lower than in 2013 (operating profit in 2013 was EUR 268 million).

• The Group’s capital expenditure will be about EUR 60 million excluding substantial corporate or product acquisitions (the Group’s capital expenditure in 2013 was EUR 78 million).

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Orion Q4-2013

Neste Oil Q4 and Full Year Report 2013

Neste Oil's Financial Statements 2013

Strong full-year result, with a 70% increase in comparable operating profit

2013 in brief:

• Comparable operating profit totaled EUR 604 million (2012: EUR 355 million)

• Total refining margin was USD 9.60/bbl (2012: USD 10.17/bbl)

• Net cash from operations totaled EUR 839 million (2012: EUR 468 million)

• Return on average capital employed (ROACE) was 11.8% (2012: 5.0%)

• Leverage ratio was 30.0% as of the end of December (31.12.2012: 43.2%)

• Comparable earnings per share was EUR 1.92 (2012: EUR 0.70)

• The Board of Directors will propose a dividend of EUR 0.65 per share (2012: 0.38), totaling EUR 167 million (2012: EUR 97 million).

Fourth quarter in brief:

• Comparable operating profit totaled EUR 164 million (Q4/2012: EUR 77 million)

• Total refining margin was USD 9.53/bbl (Q4/2012: USD 10.99/bbl)

• Net cash from operations was EUR 629 million (Q4/2012: EUR 327 million).

For more information, click the link below
Neste Oil Q4-2013

 

Fortum Q4 and Full Year Report 2013

Fourth quarter burdened by warm weather and low hydro volumes – Dividend proposal EUR 1.10 per share for 2013

October−December 2013

• Comparable operating profit EUR 493 (591) million, -17%

• Operating profit EUR 574 (623) million, of which EUR 81 (32) million relates to items affecting comparability

• Earnings per share EUR 0.52 (0.68), -24%, of which EUR 0.07 (0.03) per share relates to items affecting comparability and EUR 0.09 (0.22) per share to the change in the Finnish corporate tax rate in 2013 and the Swedish Corporate tax rate in 2012

• Cash flow from operating activities totalled EUR 376 (399) million, -6%

• All-time low hydro production, 3.9 (7.1) TWh

• Very warm weather in all regions

• In Russia, Nyagan 2 was commissioned and an agreement was reached with the contractor regarding construction delays in favour of Fortum

• Assessment of electricity distribution business completed; Finnish networks divestment
  process started

January−December 2013

• Comparable operating profit EUR 1,607 (1,752) million, -8%

• Operating profit EUR 1,712 (1,874) million, of which EUR 105 (122) million relates to items affecting comparability

• Earnings per share EUR 1.36 (1.59), -14%, of which EUR 0.10 (0.14) per share relates to items affecting comparability and EUR 0.09 (0.22) per share to the Finnish Corporate tax rate change in 2013 and the Swedish Corporate tax rate in 2012, which had a positive impact

• Cash flow from operating activities totalled EUR 1,836 (1,382) million, +33%

• Half way through the efficiency programme

• Electricity production at the Inkoo coal-fired power plant in Finland to be discontinued

• Fortum's Board proposes a dividend of EUR 1.10 per share

For more information, click the link below
Fortum Q4-2013

Dividend Income January 2014

January  2014 Dividends Received:

•     Global X SuperDividend ETF (SDIV) - $74.10
•     Altria Group Inc (MO) - $84.00
•     Digital Realty Trust Inc (DLR) - $93.60
•     Kraft Foods Group Inc (KRFT) - $52.50

   

My Total dividends in January are € 222.52 ($ 304.20). After tax payments, net dividend income is € 163.33.

This was the first year, when I received some dividends in January.

This month's dividend increased my cumulative dividend income € 9,168.95.

My goal is to receive €6.000 in dividends for this year.

You can follow the development of my dividends here.

Recent Buy Chevron Corporation CVX

31th January 2014 I Bought 60 shares of CVX at $111.85 per share plus comission.

Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in fully integrated petroleum operations, chemicals operations, mining activities, power generation and energy services. Upstream operations consist primarily of exploring for, developing and producing crude oil and natural gas; processing, transportation and regasification associated with liquefied natural gas; transporting crude oil by international oil export pipelines; transporting, storage and marketing of natural gas, and a gas-to-liquids project. Downstream operations consist primarily of refining crude oil into petroleum products; transporting crude oil and refined products by pipeline, marine vessel, motor equipment and rail car, and manufacturing and marketing of commodity petrochemicals, plastics for industrial uses and fuel and lubricant additives.