Equifax 2002 Annual Report Download - page 7

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3
Thomas F. Chapman
Chairman and Chief Executive Officer
Thomas F. Chapman
Chairman and Chief Executive Officer
United States. As a result, we can fully capitalize on eMarketing, the fastest growing
component of the direct marketing business. Also, our customers can now take advan-
tage of total solution alternatives to traditional direct marketing with our new multi-
channel marketing offerings such as targeted opt-in email lists, email appending, email
list management, streaming video emails and online and offline lead acquisition. This
enhanced strategic position contributed $30 million in new revenue during 2002. We
expect Marketing Services to be a key growth engine in 2003 and beyond.
A GLOBAL DIFFERENCE
Our global presence is an important part of the Equifax strategic long-term growth model.
We have strong, established positions in Europe and Latin America, and during 2002,
these international businesses performed admirably. Europe significantly improved mar-
gins from four to ten percent, in part due to a very strong performance in the United
Kingdom, nearly tripling its profit to $16.5 million and delivering a record margin of
17 percent, up from six percent. Latin America maintained margins at 26 percent, helped
considerably by healthy revenue gains in Brazil, our largest market in Latin America, with
eight percent growth in local currency. In both regions, new business wins combined with
relentless cost management overcame the difficult foreign exchange conditions that have
tempered our short-term global expansion.
AN INNOVATIVE DIFFERENCE
Our information and marketing services are powerhouse businesses that continue to pro-
duce exceptionally profitable returns year in and year out. Yet, our competitive advantage
is not something we take for granted. New business development is a priority. Indeed,
innovation is an inherent part of The Equifax Difference. And so, today our portfolio
includes exciting new businesses – new businesses that just four years ago were either
non-existent or in an embryonic stage. Today, they are producing over $50 million in rev-
enue annually. They share several common themes:
They all represent firsts for the information services industry. Equifax has been
the first to develop and market credit tools for consumers; the first, and only, to build a
proprietary database on small businesses; and the first to bring unique products to
market in the emerging fraud, safety and security arena.
They all demonstrate how Equifax has evolved from a data-centric
company into a technology-centric enterprise. The value proposition in our
business lies not in the data, but in what our technology enables us to do with
the data, such as helping to alert customers to suspicious, high-risk individuals
and entities.
They all broaden our customer range. Through repurposing content and
customizing products to meet specific needs, we are expanding and diversifying
our market reach.