Equifax 2012 Annual Report Download - page 9

enterprise and microfinance segments. Solutions based on
differentiated data, sophisticated analytics, and proprietary tech-
nology drove 2012 revenues of $486 million, an increase of 6%
from 2011, excluding Brazil, and an operating margin of 29.6%.
A major focus in 2012 was the start of the standardization of
data platforms across geographies that simplify the provision-
ing of a common array of best-in-class solutions, based on the
most robust data sets available, and delivered with consistent
efficiency and quality on a global basis. This standardization will
provide economies of scale across all international properties,
and support rapid and efficient deployment of new products.
Innovation around analytics and technology, plus strong execu-
tion, generated better than expected results in many markets
that are experiencing economic challenges. This was accom-
plished through new products delivered to our existing custom-
ers, as well as share gains from customers migrating to our
analytics-enriched platforms. For example, our business in Iberia
grew by double-digits in spite of unemployment at nearly 25%.
The U.K. generated 9% revenue growth in a very challenging
economic environment. Decisioning solutions for both credit
fraud and identity management are also adding growth and
represent significant potential going forward.
Canada had a solid performance in 2012 in spite of governmen-
tal action which dampened demand for mortgage financing. In
Latin America, we achieved solid region-wide growth as we con-
tinued to leverage our product innovation and technology across
those geographies. In Russia, where the business is growing
dramatically, we increased our ownership to 43% with the intent
to achieve 50% ownership in the foreseeable future.
Personal Solutions
In 2012, the PSOL business achieved solid growth in its sub-
scriber base in addition to growing average revenue per sub-
scriber. We also successfully scaled and leveraged our account
acquisition spend through innovative marketing campaigns.
PSOL revenues in 2012 were $205 million, an increase of 13%
over the previous year, and margins expanded to 30.1%.
Growth was largely driven by providing a product set with high
perceived value to consumers. Introduction of the Equifax Com-
plete™ suite of products mid-year with Advantage, Premier and
Family Plan versions has driven solid growth in our subscriber
base and early indications point toward improved retention rates
as well. This refreshed product suite continues a pattern
of leveraging Equifax data assets and capabilities to deliver
genuine insight to consumers rather than information alone.
North America Personal Solutions (PSOL) is a leading provider
of personalized online credit information products in the U.S.
and Canada. PSOL empowers consumers with the confidence
and control to be their financial best through its credit, debt
management and identity-related products. These products
help consumers understand and monitor their credit, protect
their identities and maximize their financial well-being.
Trey Loughran, President, North America Personal Solutions
STRONG INTERNATIONAL FRANCHISE
#1 in market (Consumer) #2 in market (Consumer)
PERSONAL SOLUTIONS REVENUE (2012)
(in millions)
$53
$51
$51
Q1 Q2 Q3 Q4
$50
7Equifax 2012 Annual Report