Summary - Funding Rounds

Harman International is a subsidiary of Samsung Electronics

Harman International Income Statement

Annual

USDFY, 2014FY, 2015FY, 2016

Revenue

5.3 b6.2 b6.9 b

Revenue growth, %

15%12%

Cost of goods sold

3.9 b4.3 b4.8 b

Gross profit

1.5 b1.8 b2.1 b

Gross profit Margin, %

27%30%30%

General and administrative expense

1.5 b

Operating expense total

1.5 b

EBIT

329.7 m469.6 m580 m

EBIT margin, %

6%8%8%

Interest expense

8 m13.9 m33.5 m

Pre tax profit

307.4 m446.3 m530.5 m

Income tax expense

72.6 m103.3 m168.1 m

Net Income

234.6 m343 m362.5 m

Quarterly

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

Revenue

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

Cost of goods sold

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

Gross profit

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

Gross profit Margin, %

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

General and administrative expense

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

Operating expense total

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

EBIT

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

EBIT margin, %

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

Interest expense

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

Pre tax profit

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

Net Income

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

Harman International Balance Sheet

Annual

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

Cash

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

Inventories

662.1 m693.6 m706.1 m

Current Assets

2.5 b2.9 b2.9 b

PP&E

509.9 m552.4 m593.3 m

Goodwill

541 m1.3 b1.5 b

Total Assets

4.1 b5.9 b6.1 b

Accounts Payable

697.6 m918.9 m867.3 m

Short-term debt

35.6 m4.6 m86.6 m

Current Liabilities

1.5 b2.1 b1.8 b

Long-term debt

219.4 m797.5 m793.5 m

Total Debt

255 m802.1 m880.1 m

Total Liabilities

3.6 b

Common Stock

984 k1 m1 m

Preferred Stock

Additional Paid-in Capital

1 b1.4 b1.4 b

Retained Earnings

2 b2.2 b2.5 b

Total Equity

1.8 b2.4 b2.5 b

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

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

Inventories

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

Current Assets

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

PP&E

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

Goodwill

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

Total Assets

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

Accounts Payable

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

Short-term debt

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

Current Liabilities

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

Long-term debt

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

Total Debt

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

Total Liabilities

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

Common Stock

978 k980 k983 k988 k989 k992 k1 m1 m1 m1 m1 m

Preferred Stock

Additional Paid-in Capital

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

Retained Earnings

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

Total Equity

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

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

234.6 m343 m362.5 m

Inventories

(67.4 m)(89.2 m)

Accounts Payable

148 m273.6 m

Cash From Operating Activities

592.1 m552.6 m

Cash From Investing Activities

(612.1 m)(738.5 m)

Long-term Borrowings

(30 m)(552.3 m)

Cash From Financing Activities

136.6 m305.2 m

Free Cash Flow

749.3 m745.1 m

Quarterly

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

Net Income

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

Inventories

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

Accounts Payable

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