Summary - Funding Rounds

Founding Date

1993

MBNA Income Statement

Annual

GBPFY, 2002FY, 2003FY, 2004FY, 2005FY, 2006FY, 2007FY, 2008FY, 2009FY, 2010FY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Revenue

2.4b2.6b2.4b1.9b1.7b1.1b847.4m625.3m700.7m844.1m861.9m1.1b

Revenue growth, %

(26%)12%(4%)

Operating expense total

433.3m432.1m443.8m500.0m

EBITDA

443.5m217.6m276.7m189.6m

EBITDA margin, %

52%35%39%22%

EBIT

(556.5m)(684.3m)(795.7m)(1.2b)(1.5b)(205.3m)404.6m571.4m473.4m414.1m193.2m256.9m175.2m

EBIT margin, %

(8%)22%33%43%49%31%37%21%

Pre tax profit

209.2m258.7m183.0m230.0m120.0m283.7m(43.6m)(212.7m)348.0m389.7m112.3m161.5m113.2m193.4m163.0m71.4m428.7m

Income tax expense

(57.7m)(65.7m)(50.6m)(70.0m)(41.0m)(83.7m)44.8m47.6m(112.3m)(53.1m)(2.7m)3.8m(5.3m)(27.6m)(56.6m)(55.1m)(57.0m)

Net Income

151.5m193.0m132.4m160.0m79.0m200.0m1.2m(165.1m)235.7m336.6m109.6m165.2m107.9m165.8m106.4m16.3m371.7m

MBNA Balance Sheet

Annual

GBPFY, 1996FY, 1997FY, 1998FY, 1999FY, 2000FY, 2001FY, 2002FY, 2003FY, 2004FY, 2005FY, 2006FY, 2007FY, 2008FY, 2009FY, 2010FY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Cash

1.0m1.8m1.4m538.8m669.3m4.4m7.1m7.7m9.8m14.0m22.0m26.3m43.0m19.9m13.9m24.3m219.1m549.8m50.9m64.4m60.7m69.5m33.5m

Accounts Receivable

15.1b15.6b14.2b13.0b11.7b49.2m7.3b7.9b8.2b

Current Assets

473.0m2.0b3.2b4.6b5.7b3.1b4.8b5.2b6.6b14.0b14.9b15.7b17.0b14.9b13.3b11.9b9.1b8.2b7.2b7.4b7.4b8.0b8.3b

PP&E

47.0m82.9m79.9m99.5m231.4m336.1m182.8m191.0m301.1m321.0m268.0m246.8m256.7m241.2m214.6m170.8m100.7m93.8m90.4m64.2m564.9m26.6m3.9m

Goodwill

37.1m23.1m13.3m

Total Assets

520.0m2.1b3.3b4.7b5.9b3.5b5.3b5.7b7.3b14.9b15.7b16.4b17.6b15.6b14.2b12.3b9.3b8.3b7.4b7.5b8.0b8.1b8.3b

Accounts Payable

8.0b9.1b9.5b9.8b3.8b2.8b6.9b7.2b

Current Liabilities

389.0m2.0b3.1b4.3b5.5b2.7b4.2b2.7b5.8b13.4b14.1b8.9b9.8b10.4b10.3b4.3b2.6b3.2b4.3b2.6b2.9b7.0b7.3b

Non-Current Liabilities

34.0m1.4m36.5m30.4m4.6m150.3m1.8m1.6b2.3m2.0m4.0m5.7b5.9b2.8b1.3b5.0b3.6b2.6b445.5m2.0b2.3b373.5m273.3m

Total Debt

1.6b275.0k6.1m13.8m22.2m10.3m

Total Liabilities

4.2b4.3b5.8b13.4b14.1b14.6b15.7b13.2b11.5b9.3b6.2b5.8b4.7b4.7b5.2b7.4b7.6b

Common Stock

88.0m103.3m128.3m128.3m128.3m228.3m553.3m688.3m700.5m701.0m701.0m700.5m700.5m1.4b1.4b1.4b1.4b1.4b1.4b1.4b1.4b200.0m200.0m

Retained Earnings

1.1b1.2b1.4b1.3b445.8m490.8m

Total Equity

98.0m131.1m201.2m299.7m406.1m625.6m1.1b1.4b1.5b1.6b1.6b1.8b1.8b2.4b2.6b2.9b3.1b2.6b2.7b2.8b2.8b660.7m690.8m

Debt to Equity Ratio

4 x0 x0 x0 x0 x0 x

Debt to Assets Ratio

0.3 x0 x0 x0 x0 x0 x

Financial Leverage

5.3 x16.1 x16.4 x15.5 x14.5 x5.6 x5 x4.1 x4.8 x9.5 x9.8 x9 x9.6 x6.6 x5.4 x4.2 x3 x3.3 x2.8 x2.7 x2.9 x12.2 x12 x

MBNA Cash Flow

Annual

GBPFY, 2002FY, 2003FY, 2004FY, 2005FY, 2006FY, 2007FY, 2008FY, 2009FY, 2010FY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Net Income

151.5m193.0m132.4m160.0m79.0m200.0m1.2m(165.1m)235.7m336.6m109.6m165.2m107.9m165.8m106.4m16.3m371.7m

Cash From Operating Activities

162.0m391.7m204.6m(455.0m)(392.7m)(228.1m)

Dividends Paid

4.0k671.1m2.1b215.0m

Cash From Financing Activities

(1.1b)(17.8m)308.1m(95.0m)81.5m

Net Change in Cash

140.0m(499.1m)13.2m(3.5m)8.8m83.0m

Income Taxes Paid

(5.3m)(27.6m)(55.5m)