Experian 2009 Annual Report Download - page 28

Download and view the complete annual report

Please find page 28 of the 2009 Experian annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 152

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152

26 Experian Annual Report 2009
05
Business review
EMEA/Asia Pacic continued
Credit Services
Total revenue for Credit Services
grew 14% at constant exchange rates,
with organic revenue growth of 4%.
The acquisition contribution relates
to KreditInform in South Africa and
an increase to majority control of
Experian’s stake in Sinotrust in China.
There was good progress across both
established and emerging markets,
even though conditions were tough.
There were a number of important wins
during the year, including a strategic
win in the Netherlands to underpin
growth in the automotive vertical.
Experian also launched a consumer
credit bureau in Morocco.
The partnership with CCB in Japan
has not developed as expected
and the Group is in discussions to
terminate the joint venture bureau
platform partnership. Experian remains
committed to Japan, and plans further
product launches over the coming year.
Decision Analytics
Total growth at Decision Analytics was
4% at constant exchange rates, with
organic revenue growth of 4%. Despite
challenging market conditions, there
was good progress, with a number of
signicant wins during the year and a
pipeline which, while slow to convert,
is encouraging. Large wins included a
multi-country contract for collections
software from a large global bank
seeking to standardise on the Experian
platform, a contract from an Eastern
European bank for a suite of software
products, the rst telecommunications
win in Asia Pacic, a large analytics win
in South Korea and a large collections
contract in South Africa.
Marketing Services
Total Marketing Services revenue
increased by 50% over the year at
constant exchange rates, with organic
revenue growth of 13%. The acquisition
contribution related primarily to
Emailing Solution, Sinotrust and
Hitwise. There was excellent progress
over the year, reecting strong demand
and deeper market penetration
through a number of new client wins.
There were wins across all product
lines, including contact data, email,
competitive intelligence and customer
segmentation tools.
Financial review
Revenue from continuing activities was
US$426m, up 19% at constant exchange
rates. Organic revenue growth was 6%.
The acquisition contribution relates
mainly to Sinotrust and KreditInform.
EBIT from continuing activities was
US$49m, up 3% at constant exchange
rates, with an EBIT margin of 11.5%
(2008: 13.6%). Margin dilution principally
reects increased investment across
the EMEA/Asia Pacic region as well as
business mix effects.
Social, ethical and
environmental (SEE) risks
and opportunities
The EMEA/Asia Pacic region has
now been included in the full CR report
(www.experiancrreport.com), with data
from South Africa, Eastern Europe and
China reported for the rst time. Senior
management is raising awareness of
SEE issues in the region and setting
targets for the new nancial year.
Organic revenue growth
6%09
08
07
06
05
7%
7%
8%
8%
Organic growth is dened as year-on-year revenue growth
at constant exchange rates, excluding acquisitions until the
date of their anniversary
Other than for 2009, no adjustment has been made for
discontinued activities
Organic growth Acquired growth
Total revenue growth
8%
13%
11%
18%
19%
Total growth is dened as year-on-year revenue growth at
constant exchange rates
Other than for 2009, no adjustment has been made for
discontinued activities
09
08
07
06