Experian 2010 Annual Report Download - page 47

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45
Introduction
2 – 11
Governance
52 – 84
Financial statements
85 – 160
Business review
12 – 51
Revenue and EBIT by business segment
Year ended 31 March
2010
US$m
2009
US$m
Growth1
%
Organic
growth1
%
Revenue
Credit Services 1,656 1,604 2 1
Decision Analytics 441 486 (7) (7)
Marketing Services 731 764 (3) (4)
Interactive 1,031 936 11 11
Total – continuing activities 3,859 3,790 2 2
Discontinuing activities221 83 n/a
Total 3,880 3,873 1
EBIT
Credit Services – direct business 555 513 7
FARES 56 48 16
Total Credit Services 611 561 8
Decision Analytics 119 140 (11)
Marketing Services 86 88 -
Interactive 242 212 15
Central Activities (62) (57) n/a
Total – continuing activities 996 944 6
Discontinuing activities2(5) (5) n/a
Total 991 939 6
EBIT margin3
Credit Services – direct business 33.5% 32.0%
Decision Analytics 27.0% 28.8%
Marketing Services 11.8% 11.5%
Interactive 23.5% 22.6%
Total EBIT margin324.4% 23.6%
1. Growth at constant exchange rates
2. Discontinuing activities include UK account processing and other smaller discontinuing activities
3. EBIT margin is for continuing direct business only, excluding FARES
Discontinuing activities
Experian denes discontinuing
activities as businesses sold, closed
or identied for closure during a
nancial year. These are treated
as discontinuing activities for both
revenue and EBIT purposes. Prior
periods, where shown, are restated
to disclose separately the results of
discontinuing activities. Thisnancial
measure differs from the denition
of discontinued operations set out in
IFRS 5 ‘Non-current assets held for sale
and discontinued operations’. Under
IFRS 5, a discontinued operation is a
component of an entity that has either
been disposed of, or is classied as
held for sale, and is: (i) a separate major
line of business or geographical area of
operations; (ii) part of a single plan to
dispose of a major line of business or
geographical area of operations; or (iii)
a subsidiary acquired exclusively with a
view to resale.
Continuing activities
Businesses trading at 31 March 2010
that have not been disclosed as
discontinuing activities are treated as
continuing activities.
Total growth
This is the year-on-year change in the
performance of Experian’s activities.
Total growth at constant exchange
rates removes the translational foreign
exchange effects arising on the
consolidation of Experian’s activities.
Organic growth
This is the year-on-year change in
continuing activities revenue, at
constant transactional and translation
exchange rates, excluding acquisitions
(other than afliate credit bureaux)
until the rst anniversary date of
consolidation.
Direct business
Direct business refers to Experian’s
business excluding the nancial results
of associates (including FARES).