Equifax 2009 Annual Report Download - page 3

EQUIFAX 2009 ANNUAL REPORT
>As the worldwide economy struggles
to recover, we face a “new normal”
where customer needs will be dramati-
cally different. Financial institutions will
be focused on managing risk in new and
better ways. Consumers will more closely
monitor and manage their nancial obliga-
tions. Both businesses and consumers will
be more attentive to fraud, risk and identity
management. Emerging markets will grow
faster than more developed economies. In
short, today’s reality will demand a more
agile and innovative response to solving
critical business needs helping our cus-
tomers nd new ways to grow protably.
Our proven business model and strat-
egy adapts well to this new normal. Our
Growth Strategy is built on four pillars
which remain very relevant. First is our
investment in unique, differentiated data
assets—a true competitive edge—which
we further enhanced last year primarily
through strategic acquisitions. Our second
pillar is leveraging our highly skilled analytic
resources and decisioning technologies,
which allows us to provide unmatched
insight to help our customers run their
businesses more effectively. We are now
marketing these proven software-based
capabilities globally. The third pillar is
broadening and deepening our customer
relationships by creating unique solutions
that address customers’ challenges. New
products—such as Equifax SSN Afrm™
which combats identity fraud and en-
hances our customers’ ability to manage
risk—allow us to become increasingly
embedded in our customers’ operations.
Our last pillar is using our deep data assets
and decisioning capabilities to enter new
long-term growth markets, such as India
and Russia. We formed a joint venture
in India to pursue a license to operate a
credit information company there and we
anticipate receiving the license very soon.
In addition, we are reinforcing our operat-
ing fundamentals by investing internally to
make Equifax more efcient and nimble
so that our competitive position is even
stronger.
Sound results and how
we achieved them
Equifax performed well in 2009, generat-
ing strong operating revenues, prots
and cash ow while maintaining a healthy
balance sheet through one of the most
difcult environments in our history. The
strength of our protability and cash
ow allowed us to nance important
acquisitions like Rapid Reporting and IXI
Corporation, and repurchase 0.9 million
shares of Equifax stock while retaining our
strong credit ratings.
Our solid performance in 2009 can be
attributed to several key factors:
 Investing in enterprise-wide initiatives that
create customer value;
 Strengthening our market position by
leveraging our unique data, capabilities,
and expertise;
 Investing in our decisioning technologies
and analytic business to drive greater
efciencies and incremental revenue for
our customers;
 Utilizing aggressive expense manage-
ment and greater operational efciency.
As a result of our highly disciplined execu-
tion, we delivered $1.82 billion in revenue,
an operating margin of 22.3 percent, and
$2.33 in adjusted EPS, despite challenging
economic conditions.
Equifax in the new normal
We have a 111-year legacy of solving
customers’ business needs. That will not
change. We will continue to focus on new
ways to assist customers to grow their
businesses and improve protability.
“Executing our business strategies –
expanding and leveraging our extensive data assets,
deepening our analytic and decisioning technologies,
strengthening our customer relationships through
innovation and entering new markets – is our path
for growth in the new normal.”
— Richard F. Smith, Chairman and Chief Executive Officer
To Our Shareholders:
Richard F. Smith
Chairman and Chief Executive Officer
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EQUIFAX 2009 ANNUAL REPORT
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