NUREMBERG, 17-8-2015 — /EuropaWire/ — GfK achieved an increase in sales by 7.1 percent in the first six months of 2015 compared to the same period of the previous year. Adjusted operating income rose by 3.7 percent to €71.2 million. The margin thus amounted to 9.5 percent (first six month period of the previous year: 9.8 percent). Matthias Hartmann, CEO of GfK, says: “We achieved slight organic growth in the first six months and improved our adjusted operating income. We are expecting a pick-up in sales in the second half of the year, in particular from large audience measurement contracts that we have already won. We remain firm in expecting to reach our guidance this year.”
The Group’s sales were €747.2 million in the first six months; 7.1 percent more than in the same period of the previous year. In addition to the organic growth of 0.3 percent, currency effects of 6.7 percent positively impacted the overall development.
Adjusted operating income for the first six months was €71.2 million. This is 3.7 percent more than the same period of the previous year.
The Consumer Experiences sector, where sales decreases were deliberately accepted during the realignment process, continues to stabilize and become more productive. In line with GfK’s strategy, the share of sales from standardized products is rising (now 43 percent) and more data is being collected digitally. Sales rose by 6.1 percent to €421.4 million in the first six months, compared to the same period of the previous year (organic -0.7 percent, currency effects +6.8 percent). The order book points to a further stabilization of sales in the second half of the year. The sector’s profitability has developed positively, with the margin in the first six months of 2015 rising by 0.4 percentage points to 5.1 percent, compared to the same period of the previous year.
The Consumer Choices sector continues its growth. Sales in the first six months rose by 8.5 percent to €324.2 million in comparison to the same period of the previous year. In addition to the 1.8 percent organic growth in this sector, positive influence was felt from 6.6 percent currency effects and 0.2 percent non-organic growth by acquisitions. This sector’s margin amounted to 18.3 percent in the first six months (same period of the previous year was 19.4 percent), with the lower figure mainly due to the start-up costs of the audience measurement contracts in Brazil and the Kingdom of Saudi Arabia. These projects are expected to contribute to growth in sales in the fourth quarter. With its television, radio and online research, GfK is now active on all continents, which is in line with GfK’s strategy to make their audience measurement business fully international. Additional multi-year audience measurement contracts were recently won in Singapore, Sweden and Poland.
All regions, except for Northern Europe, showed organic growth in the first six months. Latin America, as well as Asia and the Pacific, achieved the strongest organic growth.
The Group’s guidance remains unchanged. GfK expects moderate organic growth and a margin of between 12.4 and 12.8 percent for 2015.
The full half-year report is available on GfK’s Investor Relations website:
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Provisional key date in the 2015 financial calendar
13 November 2015: Nine-month report as at 30 September
Provisional key dates in the 2016 financial calendar
29 January 2016: Trading Statement
(NEW) 18 March 2016: Accounts press conference
13 May 2016: Quarterly report as at 31 March
20 May 2016: Annual General Meeting
12 August 2016: Half-year report as at 30 June 2016
14 November 2016: Nine-month report as at 30 September 2016