Experian 2008 Annual Report Download - page 17

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15Experian Annual Report 2008
Financial statements
65 – 144
Governance
38 – 64
Introduction
2 – 5
Business review
Latin America
Business review
Latin America
Financial review
Revenue was US$324m for Latin
America, reflecting the first time
contributions from Serasa and
Informarketing. Organic revenue
growth was 43%, attributable to
Decision Analytics only.
EBIT in the year was US$75m,
delivering an EBIT margin of 23.1%.
EBIT includes a favourable IFRS
adjustment of US$9m, principally in
relation to the differential treatment
of capitalisation of data assets
by Serasa under Brazilian GAAP.
Integration charges in relation to the
Serasa acquisition of US$11m were
incurred in the period.
Establishing a major presence for
Experian in Brazil
In June 2007, Experian acquired a controlling
interest in Serasa, the largest credit bureau
in Brazil and the fourth largest in the world.
Serasa plays an active role in almost
every consumer and commercial credit
decision in Brazil. Its clients include many
of Brazil’s leading companies, as well as
major multinational organisations, and over
100,000 small businesses and shopkeepers.
The acquisition of Serasa has consolidated
Experian’s global leadership in credit
services, while providing a commanding
position in one of the world’s fastest
growing markets for credit. It has also
created exciting opportunities for Experian
to introduce Serasa’s clients to a wide range
of powerful analytical products.
Organic
2008 2007 Growth1 growth1
12 months to 31 March US$m US$m % %
Revenue
– Credit Services 305 – n/a n/a
– Decision Analytics 8 5 43 43
– Marketing Services 10 – n/a n/a
Total Latin America 324 5 >1002 43
EBIT
– Latin America 86 (4)
– Serasa integration charge (11) –
Total Latin America 75 (4)
EBIT margin 23.1% n/a
1 Growth at constant exchange rates
2
Latin America total growth at constant exchange rates for the 12 months to 31 March 2008 was 5,232%