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Archer Daniels Midland Company Financial Statements Q1 2013

by January 6, 2015


Archer Daniels Midland Company Financial Statements Q1 2013

  • Declining sales, razor-thin margins, increasing profits.
  • Under stable oil prices and declining production, sales turned down.
  • Strict cost control measures preserved the overall margins and profits.
  • Improving balance sheet: inventory down, debt and short term liabilities lower.
  • Cash flow strong as ever.

We expect improving results after the liberalization of natural gas sale prices.
Nevertheless, the decline in production and sales is worrisome.
The charts below are self-explanatory.

Archer Daniels Midland Financials Q1 2013
Sales, earnings and financial results


Income statement overview
Detailed revenues and expenses

  • Archer Daniels Midland sales, costs, margins, and net income

    Archer Daniels Midland financials for Q1 2013
    Here you see a nicely-colored chart showing how revenues are converted into earnings and profits:
    Sales, cost of sales, gross margin, operating expenses, operating margin, non-operating expenses, income taxes, exceptional items, preferred distributions, net income.

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  • Archer Daniels Midland operating income

    Archer Daniels Midland financials for Q1 2013
    Here you see a nicely-colored chart showing detailed revenues and costs chart, converging to earnings and net profits.

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Sales declined in Q1 2013, despite stable oil prices. Overall group oil and gas production amounted to 16.5 mn boe in Q1/13, 1% lower compared to Q1/12 due to lower oil production in Romania, which was only partly counterbalanced by slightly higher oil production from Kazakhstan.

The decline in sales was compensated by a larger decline in operational costs. Group production costs in USD/boe decreased by 3% compared to Q1/12, due to strict cost management.

Exploration expenditures WERE 30% lower compared to Q1/12 as the latter reflected the costs associated with the exploration well drilled in the Black Sea.

Gross margin remained stable in dollar terms, and improved as percentage of sales, despite the decline in sales. Net income even increased QoQ.


Balance sheet
Current assets
Long-term assets
Current liabilities
Long-term liab.

  • Archer Daniels Midland balance sheet overview: assets and liabilities

    Archer Daniels Midland financials for Q1 2013
    Here you see a nicely-colored chart showing the overall financial strength of the company in the form of a balance sheet chart:
    Current assets, long term assets, current liabilities, long-term liabilities, equity, are all plotted here as an overview chart.

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  • Archer Daniels Midland current assets details

    Archer Daniels Midland financials for Q1 2013
    Here you see a nicely-colored chart showing the details on the most liquid (current) assets:
    cash, investments, accounts receivable, inventory, deferred tax, others.

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  • Archer Daniels Midland property, equity, intangibles

    Archer Daniels Midland financials for Q1 2013
    Here you see a nicely-colored chart showing non-current (capital) assets details:
    Property plant and equipment, equity, goodwill, intangibles, others.

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  • Archer Daniels Midland accounts payable, debt, taxes due

    Archer Daniels Midland financials for Q1 2013
    Here you see a nicely-colored chart showing current liabilities in full details:
    Payables, debt, taxes, others.

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  • Archer Daniels Midland debt, pensions, and other long term liabilities

    Archer Daniels Midland financials for Q1 2013
    Here you see a nicely-colored chart showing long term liabilities in full detail:
    Bebt, taxes, and others.

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Improving inventory management, lower long term debt and lower short – term liabilities indicate an adapting company to current environment.

Capital expenditure decreased substantially, particularly in G&P and R&M.

Compared to the year-end 2012, total assets increased, mainly driven by the increase in cash and cash equivalents and also by the net increase in property, plant and equipment and intangible assets, as the investments exceeded depreciation and impairments.

The Group’s equity ratio increased to 64% at the end of March 2013, higher compared to the level recorded at the end of December 2012 (61%).


Cash flow overview
Operating cash flow
Investment cash flow
Financing cash flow

  • Archer Daniels Midland cash flow overview: operational, financial, investment

    Archer Daniels Midland financials for Q1 2013
    Here you see a nicely-colored chart showing the overview of cash flows:
    Net cash flow, as dividend in operating, financing, and investment cash flow.

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  • Archer Daniels Midland current assets details

    Archer Daniels Midland financials for Q1 2013
    Here you see a nicely-colored chart showing operating cash flows (cash flow generated by operating activities):
    Net income, adjustments, accounts payable, accounts receivable, inventory.

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  • Archer Daniels Midland property, equity, intangibles

    Archer Daniels Midland financials for Q1 2013
    Here you see a nicely-colored chart showing financing cash flows (cash flow from financing activities):
    Debt, stock, dividend.

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  • Archer Daniels Midland accounts payable, debt, taxes due

    Archer Daniels Midland financials for Q1 2013
    Here you see a nicely-colored chart showing the investment cash flows (cash flow from investing activities):
    Property plant and equipment, investments, securities, in full detail.

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Operating cash flow is strong as ever, seemingly unaffected by the lower sales.

Net working capital generated a cash outflow mainly due to income tax payments, partially offset by the decrease in inventories.

Net cash flow from investing activities mainly includes payments for investments in intangible assets and property, plant and equipment.

Net cash flow from financing activities shows an outflow of funds mainly coming from repayment of the tranche from the European Investment Bank that became due.
Dividend payments will appear on Q2 2013.

Data sources for Archer Daniels Midland financials for Q1 2013:
All charts are interactive.
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