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  • Revenue from continuing activities up 19%, 6% organic

  • Good progress for Credit Services across established and emerging markets

  • Consumer credit bureau launched in Morocco

  • Significant new client wins for Decision Analytics and Marketing Services

2009 revenue by activity: Credit services, Decision analytics, Marketing services. Excludes discontinuing activities

EBIT US$m and margin. EBIT excludes discontinuing activities. EBIT margin is for continuing activities only. Other than for 2009, no adjustment has been made for discontinued activities

Total revenue growth: Organic growth, Acquired growth: Total growth is defined as year-on-year revenue growth as constant exchange rates. Other than for 2009, no adjustment has been made for discontinued activities

Organic revenue growth. Organic growth is defined 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

EMEA/Asia Pacific


EMEA/Asia Pacific delivered a good performance during the year, reflecting solid progress within credit-related activities, and excellent performance within marketing-related activities, which have now reached critical mass. Margin dilution reflects investment across the EMEA/Asia Pacific region as well as business mix effects.


1

Growth at constant exchange rates

2

2008 restated to exclude French transaction processing activities, which are now classified as a discontinued operation

3

Discontinuing activities include Loyalty Solutions

4

EBIT margin is for continuing activities only

 

 

 

 

 

 

 

 

Year ended 31 March

2009
US$m

2008
US$m

Total
growth1
%

Organic
growth1
%

 

 

 

 

 

 

 

 

 

Revenue

 

 

 

 

 

 

– Credit Services2

172

154

14

4

 

 

– Decision Analytics

131

132

4

4

 

 

– Marketing Services

123

83

50

13

 

 

Total – continuing activities

426

368

19

6

 

 

Discontinuing activities3

-

12

n/a

 

 

 

Total EMEA/Asia Pacific

426

380

15

 

 

 

 

 

 

 

 

 

 

EBIT – continuing activities

49

50

3

 

 

 

Discontinuing activities3

-

-

n/a

 

 

 

Total EMEA/Asia Pacific

49

50

2

 

 

 

 

 

 

 

 

 

 

EBIT margin4

11.5%

13.6%

 

 

 

 

 

 

 

 

 

 


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 significant 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 first telecommunications win in Asia Pacific, 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, reflecting 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

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 reflects increased investment across the EMEA/Asia Pacific region as well as business mix effects.

Social, ethical and environmental (SEE) risks and opportunities

The EMEA/Asia Pacific 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 first time. Senior management is raising awareness of SEE issues in the region and setting targets for the new financial year.

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