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14 Experian Annual Report 2008
Latin America
Serasa performed strongly in the first nine months
since acquisition, delivering revenue on plan and
EBIT ahead of buy plan. Serasa continues to benefit
from the expansion of the credit market in Brazil and
will provide a bridgehead for further expansion in
Latin America.
Credit Services
Includes consumer credit and
business information
In the year, Credit Services delivered
revenue of US$305m, relating entirely
to Serasa. Serasa benefited from
positive macro-economic trends
in Brazil and expansion in demand
for credit, which has fuelled growth
in loan products such as credit
cards. Serasa delivered strong
performances in both consumer
and business information, driven by
increased penetration of existing
clients, as well as new client wins.
There was good progress in the
year against the Serasa acquisition
buy plan. The integration was
successfully completed in March
and there was progress on transfer
of best practice in sales execution.
Experian value-added products
suitable to the Brazilian market
have been identified, with launches
planned in the year ending 31 March
2009. In addition, there was continued
investment in new product innovation
at Serasa, with a strong product
pipeline for both consumer and
business information services.
Decision Analytics
Includes credit analytics and decision
support software
Decision Analytics performed well
in Latin America from a modest
base, with revenue growth of 43%,
reflecting new business wins in the
telecommunications and financial
services sectors.
Marketing Services
Includes marketing data and analytics
Revenue in Marketing Services was
US$10m in the year, resulting from
the acquisition of Informarketing.
The acquisition has performed
exceptionally well, reflecting strong
growth and a number of new client
wins, for example data and data
enhancement services for several
major Brazilian banks.
• Revenue of US$324m
• EBIT of US$75m
• EBIT margin of 23.1%
• Acquisition of 70% stake
in Serasa transforms
Experian’s presence in
Latin America
• Serasa revenue on plan,
EBIT exceeds buy plan
2008 Revenue by activity
Decision Analytics
Credit Services
Marketing Services
Organic revenue growth
38%
Organic growth is defined as year-on-year revenue growth
at constant exchange rates
08
07
43%
EBIT (US$m) and margin
EBIT excludes discontinuing activities
EBIT margin is for continuing activities only
23.1%
07(4)
08 75
EBIT