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34 Experian Annual Report 2012 Business review
Credit Services
Total revenue growth was 28%, at
constant exchange rates, while organic
revenue growth was 23%. Both consumer
information and business information
activities in Brazil performed strongly,
benefiting from new data supply
agreements, take-up of new premium
products, further penetration of the
small and medium enterprise sector and
good progress across new customer
segments such as telecommunications.
Authentication revenue grew exceptionally
strongly in the year, as the Brazilian
government extended its programme
for businesses to use digital certificates
to identify themselves in business-to-
government interactions.
Decision Analytics
We delivered good progress at Decision
Analytics with total and organic revenue
growth of 70%. Our business is benefiting
as we leverage our credit bureau footprint in
Brazil, with new contract wins from major
Brazilian banks during the year. We also
saw good progress in other Latin American
markets, including Argentina and Mexico.
Marketing Services
At Marketing Services, total revenue
more than doubled, including first-time
contributions from the acquisition of
the Virid email marketing business and
Computec’s marketing-related activities.
Organic revenue growth was 8%.
EBIT and margin
For Latin America, EBIT grew 34% at
constant exchange rates to US$320m.
Margins increased by 80 basis points to
33.3%. Margins benefited from strong
positive operating leverage in Credit
Services in Brazil, offset by organic growth
investments in other areas and adverse
mix due to the first time contribution of
Computec.
Latin America review
Performance in Latin America goes from strength to strength. Total revenue
from continuing activities was US$961m, up 31% at constant exchange rates,
with organic revenue growth of 23%. The difference relates to the acquisitions
of Virid Interatividade Digital (Virid) (acquired July 2011) and Computec
(completed November 2011).
Ricardo Loureiro
Managing Director,
Latin America
“We’re pleased with our region’s
strong growth this year as we
continued to broaden our product
range, invest in new data sources
and move into new customer
segments. The acquisition of
Computec has expanded our
presence in Latin America and we
can see many opportunities for
further growth across the region.”