Equifax 2003 Annual Report Download - page 13

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TO OUR VALUED SHAREHOLDERS continued
10 EQUIFAX. INFORMATION THAT EMPOWERS.
GAINING NEW GROUND IN EUROPE
Our efforts in Europe paid off in 2003. We grew operating profit by 64 percent and posted best-
ever operating margin of 16 percent. This performance reflects excellent improvements in product
penetration, cost control and productivity. Differentiation is key. In the United Kingdom, for
instance, Equifax introduced its upgraded, market-leading generic risk score, Risk NavigatorTM.
Additionally, late in the third quarter we released the first in a series of Consumer Direct products,
starting with the United Kingdom’s first online credit
report. These products operate on Equifax’s proven
technology and our patent-protected, online authenti-
cation system. Our unique decision-making software is
driving customer wins across the region.
GROWING WITH THE M ARKET IN LATIN AM ERICA
This region has one of the fastest-growing middle classes in the world, elevating commerce to
an entirely new level. As these economies continue to stabilize, Equifax is taking full advantage
by launching new Consumer Direct information products alongside our already successful
business-to-business products, including behavioral models and scores along with state-of-
the-art, decision-support services. Last year, our Latin American businesses demonstrated their
market leadership through solid four percent revenue growth and an impressive 25 percent
operating margin, placing Equifax among the most profitable U.S. companies operating in
Latin America today.
ACCELERATING M OM ENTUM IN CONSUM ER DIRECT
American consumers represent two-thirds of the gross domestic product and have current
credit debt exceeding $2 trillion.* The more we enlighten, enable and empower individuals
to better manage their financial health and better protect themselves from identity theft,
the more we foster consumer confidence and economic growth. The demand for personal
“By leveraging the integrity, breadth and depth
of our data and advanced technology, w e are
becoming the w orld’s premier provider of criti-
cal,“think-ahead” know ledge.”
* The Federal Reserve Board