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LyondellBasell Industries N.V. (NYSE:LYB)

This company has been moved to the archive! The financial data has not been updated since August 2, 2019.

Common-Size Income Statement
Quarterly Data

LyondellBasell Industries N.V., common-size consolidated income statement (quarterly data)

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3 months ended: Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Trade 97.57 97.57 97.85 97.74 97.83 97.57 97.76 97.60 97.82 97.78 97.78 97.64 97.33 97.23 97.28 97.42 97.66 97.75 98.04 97.66 98.41 98.05
Related parties 2.43 2.43 2.15 2.26 2.17 2.43 2.24 2.40 2.18 2.22 2.22 2.36 2.67 2.77 2.72 2.58 2.34 2.25 1.96 2.34 1.59 1.95
Sales and other operating revenues 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Cost of sales -83.36 -84.83 -87.07 -83.69 -81.23 -82.03 -82.41 -81.48 -78.56 -82.93 -82.87 -80.15 -77.81 -76.61 -81.91 -77.57 -77.06 -77.94 -87.36 -83.86 -84.63 -86.01
Gross profit 16.64% 15.17% 12.93% 16.31% 18.77% 17.97% 17.59% 18.52% 21.44% 17.07% 17.13% 19.85% 22.19% 23.39% 18.09% 22.43% 22.94% 22.06% 12.64% 16.14% 15.37% 13.99%
Selling, general and administrative expenses -3.34 -3.27 -3.67 -3.04 -2.56 -2.39 -2.59 -2.56 -2.38 -2.42 -3.27 -2.55 -2.72 -2.86 -2.84 -2.33 -2.49 -2.50 -1.89 -1.75 -1.77 -1.67
Research and development expenses -0.30 -0.32 -0.32 -0.30 -0.28 -0.29 -0.32 -0.32 -0.30 -0.30 -0.34 -0.34 -0.33 -0.36 -0.37 -0.30 -0.27 -0.32 -0.29 -0.26 -0.28 -0.29
Operating income 13.01% 11.59% 8.95% 12.97% 15.93% 15.30% 14.68% 15.64% 18.77% 14.35% 13.53% 16.96% 19.15% 20.17% 14.88% 19.80% 20.17% 19.24% 10.47% 14.14% 13.31% 12.03%
Interest expense -0.90 -1.05 -0.99 -0.89 -0.89 -0.93 -1.04 -1.10 -1.13 -2.46 -1.10 -0.98 -1.13 -1.22 -1.09 -1.02 -0.86 -0.84 -0.70 -0.76 -0.79 -0.83
Interest income 0.06 0.07 0.06 0.14 0.15 0.11 0.10 0.06 0.05 0.07 0.05 0.05 0.05 0.07 0.10 0.10 0.08 0.13 0.07 0.11 0.06 0.05
Other income (expense), net 0.11 0.28 0.55 0.17 0.16 0.25 0.07 1.34 0.35 0.36 0.09 0.26 -0.04 1.31 -0.14 0.12 0.04 0.26 0.17 0.02 0.05 0.10
Income from continuing operations before equity investments and income taxes 12.28% 10.89% 8.56% 12.39% 15.34% 14.72% 13.80% 15.93% 18.03% 12.33% 12.57% 16.29% 18.03% 20.33% 13.75% 18.99% 19.43% 18.79% 10.01% 13.51% 12.63% 11.36%
Income from equity investments 0.71 0.73 0.41 0.88 0.67 0.98 0.89 0.95 0.93 0.96 1.01 1.10 1.60 1.35 1.23 1.12 0.98 0.84 0.62 0.53 0.56 0.55
Income from continuing operations before income taxes 12.99% 11.62% 8.97% 13.26% 16.01% 15.71% 14.69% 16.89% 18.96% 13.29% 13.58% 17.39% 19.62% 21.68% 14.98% 20.11% 20.42% 19.63% 10.63% 14.04% 13.19% 11.91%
(Provision for) benefit from income taxes -1.87 -2.31 -1.12 -2.28 0.21 -3.10 6.09 -4.46 -5.46 -3.74 -3.64 -4.43 -4.72 -6.41 -3.71 -5.84 -5.92 -5.38 -2.90 -3.60 -3.51 -3.44
Income from continuing operations 11.12% 9.31% 7.85% 10.98% 16.22% 12.60% 20.78% 12.42% 13.50% 9.55% 9.94% 12.97% 14.90% 15.28% 11.27% 14.27% 14.50% 14.26% 7.74% 10.44% 9.68% 8.47%
Income (loss) from discontinued operations, net of tax -0.03 0.00 -0.06 -0.02 -0.01 0.00 -0.04 -0.02 -0.05 -0.09 -0.09 -0.03 -0.01 0.00 -0.03 -0.04 0.03 -0.04 -0.05 -0.02 0.02 0.01
Net income 11.09% 9.31% 7.80% 10.96% 16.21% 12.60% 20.73% 12.40% 13.45% 9.45% 9.85% 12.94% 14.89% 15.28% 11.24% 14.23% 14.53% 14.22% 7.69% 10.42% 9.71% 8.48%
Net (income) loss attributable to non-controlling interests -0.01 -0.02 -0.02 0.00 0.00 0.00 0.00 0.01 0.01 0.00 0.00 -0.01 0.00 0.00 0.00 -0.01 0.01 0.02 0.02 0.01 0.02 0.01
Net income attributable to the Company shareholders 11.07% 9.28% 7.77% 10.96% 16.21% 12.60% 20.73% 12.41% 13.46% 9.45% 9.85% 12.93% 14.89% 15.28% 11.24% 14.22% 14.54% 14.25% 7.71% 10.43% 9.72% 8.49%

Based on: 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31).

The financial performance over the analyzed period is characterized by significant volatility in gross and operating margins, reflecting a cyclical pattern in cost structures and profitability. While revenue streams remained stable in their composition, the net profit margin experienced substantial fluctuations driven primarily by the cost of sales and non-recurring tax events.

Revenue Composition
Revenue is consistently dominated by trade sales, which maintained a steady share between 97.23% and 98.41% of total sales and other operating revenues. Sales to related parties remained a minor component, generally fluctuating between 1.59% and 2.77%, indicating a stable reliance on external market trade rather than internal group transactions.
Gross Profitability and Cost Management
The cost of sales exhibited significant variability, which directly impacted gross profit margins. A period of enhanced efficiency was observed between March 2015 and June 2016, where gross profit margins peaked at 23.39%. However, this trend reversed toward the end of 2018, with cost of sales rising to 87.07% in December 2018, compressing the gross profit margin to 12.93%. This suggests sensitivity to raw material costs or pricing pressures within the industry.
Operating Expense Trends
Selling, general, and administrative (SG&A) expenses showed a gradual upward trend over the period, increasing from approximately 1.67% in early 2014 to 3.34% by mid-2019. Research and development expenses remained remarkably consistent and low, hovering between 0.26% and 0.37% of revenue, indicating a stable, long-term commitment to innovation regardless of short-term margin fluctuations.
Operating Income and Bottom-Line Performance
Operating income mirrored the trends seen in gross profit, reaching a high of 20.17% in early 2016 before declining to a low of 8.95% in December 2018. Net income margins were further influenced by tax provisions and non-operating items. A notable anomaly occurred in December 2017, where net income spiked to 20.73% due to a significant tax benefit of 6.09%, rather than organic operating growth. Excluding this event, net income margins generally trended between 7.7% and 15.3%.
Financial and Other Income
Interest expenses remained relatively contained, typically ranging between 0.70% and 1.22% of revenue, despite a temporary increase to 2.46% in March 2017. Income from equity investments provided a consistent positive contribution to the bottom line, peaking at 1.60% in June 2016 and generally supporting the overall net margin.

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