Summary - Funding Rounds

Harman International is a subsidiary of Samsung Electronics

Harman International Income Statement

Annual

USDFY, 2014FY, 2015FY, 2016

Revenue

5.3b6.2b6.9b

Revenue growth, %

15%12%

Cost of goods sold

3.9b4.3b4.8b

Gross profit

1.5b1.8b2.1b

Gross profit Margin, %

27%30%30%

General and administrative expense

1.5b

Operating expense total

1.5b

EBIT

329.7m469.6m580.0m

EBIT margin, %

6%8%8%

Interest expense

8.0m13.9m33.5m

Pre tax profit

307.4m446.3m530.5m

Income tax expense

72.6m103.3m168.1m

Net Income

234.6m343.0m362.5m

Quarterly

USDQ1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017

Revenue

1.2b1.3b1.4b1.4b1.6b1.5b1.6b1.8b1.6b1.8b1.9b

Cost of goods sold

850.2m948.6m1.0b1.0b1.1b1.0b1.1b1.2b1.1b1.2b1.3b

Gross profit

321.6m379.5m364.8m414.6m493.2m418.1m487.4m545.1m492.9m541.3m608.0m

Gross profit Margin, %

27%29%26%29%31%29%30%31%30%31%31%

General and administrative expense

252.3m277.6m263.3m298.8m344.4m326.6m355.9m385.9m357.5m390.5m433.9m

Operating expense total

252.3m277.6m263.3m298.8m344.4m326.6m355.9m385.9m357.5m390.5m433.9m

EBIT

69.4m101.9m101.4m115.8m148.8m91.5m131.5m159.2m135.4m150.8m174.0m

EBIT margin, %

6%8%7%8%9%6%8%9%8%9%9%

Interest expense

2.0m1.9m2.1m2.7m2.2m3.0m8.3m7.7m8.6m9.3m9.2m

Pre tax profit

65.2m95.1m95.9m110.7m145.3m89.6m121.1m146.2m120.2m139.6m160.5m

Net Income

46.5m71.6m73.4m82.9m116.2m70.2m87.5m113.2m88.8m103.1m99.4m

Harman International Balance Sheet

Annual

usdY, 2010Y, 2011Y, 2012Y, 2013FY, 2014FY, 2015FY, 2016

Cash

645.6m603.9m617.4m454.3m581.3m649.5m602.3m

Inventories

662.1m693.6m706.1m

Current Assets

2.5b2.9b2.9b

PP&E

509.9m552.4m593.3m

Goodwill

541.0m1.3b1.5b

Total Assets

4.1b5.9b6.1b

Accounts Payable

697.6m918.9m867.3m

Short-term debt

35.6m4.6m86.6m

Current Liabilities

1.5b2.1b1.8b

Long-term debt

219.4m797.5m793.5m

Total Debt

255.0m802.1m880.1m

Total Liabilities

3.6b

Common Stock

984.0k1.0m1.0m

Preferred Stock

Additional Paid-in Capital

1.0b1.4b1.4b

Retained Earnings

2.0b2.2b2.5b

Total Equity

1.8b2.4b2.5b

Debt to Equity Ratio

0.1 x0.3 x0.4 x

Debt to Assets Ratio

0.1 x0.1 x0.1 x

Financial Leverage

2.3 x2.5 x2.5 x

Quarterly

USDQ1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017

Cash

515.4m518.6m566.9m397.8m510.3m592.4m402.2m437.5m360.4m511.7m683.4m

Inventories

614.3m655.9m655.0m745.7m724.2m726.4m846.3m875.4m840.2m831.9m787.6m

Current Assets

2.3b2.3b2.5b2.4b2.5b2.7b2.9b2.9b2.8b3.0b3.3b

PP&E

431.8m437.7m445.1m491.1m475.2m462.9m547.1m555.3m576.8m595.3m579.0m

Goodwill

237.0m251.4m257.6m526.0m530.9m710.6m1.3b1.3b1.4b1.5b1.5b

Total Assets

3.4b3.5b3.7b4.1b4.2b4.7b5.8b5.8b5.8b6.2b6.3b

Accounts Payable

585.4m616.5m664.7m746.5m789.9m809.8m870.4m882.4m782.0m940.4m1.0b

Short-term debt

30.0m30.0m33.8m37.5m39.4m4.5m4.4m4.2m59.7m55.5m

Current Liabilities

1.2b1.3b1.4b1.5b1.6b1.7b2.1b2.0b1.7b1.9b2.0b

Long-term debt

247.5m240.0m228.8m210.0m198.8m25.0k797.6m786.4m803.8m791.6m766.6m

Total Debt

277.5m270.0m262.5m247.5m238.2m25.0k802.1m790.8m808.0m851.3m822.1m

Total Liabilities

1.8b1.8b1.9b2.2b2.2b2.6b3.4b3.4b3.3b3.7b3.8b

Common Stock

978.0k980.0k983.0k988.0k989.0k992.0k1.0m1.0m1.0m1.0m1.0m

Preferred Stock

Additional Paid-in Capital

984.4m1.0b1.0b1.0b1.1b161.1m1.4b1.4b1.4b1.4b1.5b

Retained Earnings

1.9b1.9b2.0b2.0b2.1b2.2b2.3b2.4b2.4b2.6b2.6b

Total Equity

1.7b1.7b1.8b1.9b2.0b2.2b2.4b2.5b2.5b2.5b2.6b

Financial Leverage

2 x2.1 x2.1 x2.2 x2.1 x2.2 x2.4 x2.4 x2.3 x2.5 x2.5 x

Harman International Cash Flow

Annual

USDFY, 2014FY, 2015FY, 2016

Net Income

234.6m343.0m362.5m

Inventories

(67.4m)(89.2m)

Accounts Payable

148.0m273.6m

Cash From Operating Activities

592.1m552.6m

Cash From Investing Activities

(612.1m)(738.5m)

Long-term Borrowings

(30.0m)(552.3m)

Cash From Financing Activities

136.6m305.2m

Free Cash Flow

749.3m745.1m

Quarterly

USDQ1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017

Net Income

46.5m71.6m73.4m82.9m116.2m70.2m87.5m113.2m88.8m103.1m99.4m

Inventories

655.0m745.7m724.2m726.4m846.3m875.4m840.2m831.9m787.6m

Accounts Payable

664.7m746.5m789.9m809.8m870.4m882.4m782.0m940.4m1.0b
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