Bisnode Year-end report 2011
The year’s trend of strong growth in Credit Solutions but disappointing development in Marketing Solutions continued in the final quarter of 2011.
October-December
• Revenue of SEK 1,167 million (1,164)
• Operating profit (EBITA) of SEK 106 million (160)
• Operating margin (EBITA) of 9.1 per cent (13.8)
• Cash flow from operating activities of SEK 138 million (230)
January-December
• Revenue of SEK 4,310 million (4,451)
• Operating profit (EBITA) of SEK 447 million (536)
• Operating margin (EBITA) of 10.4 per cent (12.0)
• Cash flow from operating activities of SEK 360 million (464)
Key events
• Continued weak organic revenue growth of -2% (adjusted for foreign exchange effects)
• Sustained healthy growth and earnings trend in Credit Solutions. Very weak development for the companies Marketing Solutions and, as anticipated, lower sales of SPAR-related products
• Stable cash flow from operating activities
• Significant restructuring charges recognised in Q4
• Market positions in the Central Europe and Norway strengthened through acquisitions
• Ongoing concentration of operations through the sale of Pointer in Sweden and Anopress in the Czech Republic
• In December an agreement was signed for the sale of WLW in Germany, Switzerland and Austria, and the sale was completed in February 2012
• The Software & Applications business area was wound up as of 1 January 2012
• Lars Pettersson took over as the new President and CEO on 1 February 2012
Comments from CEO
”The year’s trend of strong growth in Credit Solutions but disappointing development in Marketing Solutions continued in the final quarter of 2011. The struggling economies of France, Belgium and the Netherlands, coupled with a general change in demand for traditional direct marketing services, are the main factors behind this weak development. Intensive efforts are underway within Bisnode to adapt both our offering and cost structure to the new market situation. As a result of these activities, profit for Q4 includes significant one-time costs for restructuring measures that include changes in management.
In February Bisnode divested WLW in Germany, Switzerland and Austria. This is part of our concentration of the Group and will give us greater scope to focus on our core offering.
During my first year at Bisnode, starting as a member of the Board and since 1 February 2012 as CEO, I have become increasingly convinced that Bisnode has more to give. We are active in an information market with enormous potential. Every day, decision-makers around the world make big and small business decisions. Bisnode generates tangible value by managing large data sets and enhancing them in integrated solutions as part of our customers’ daily decision support.
Bisnode conducts operations in 17 European countries and has around 3,000 employees. Our offering is driven through strong local brands and products that create local value in each market. I am certain that by mobilising the combined force of the Group, we can further increase the level of value for our customers.
We will continue to build a single united Bisnode and become our customers’ strategic provider of relevant decision support. We will help our customers to maximise their sales and minimise their risks.
We at Bisnode look to the future with confidence.”
Lars Pettersson, CEO of Bisnode
LARS PETTERSSON
CEO
Telephone: +46 8-558 059 31
Mobil: +46 705-17 28 02
E-mail: lars.pettersson@bisnode.com
FREDRIK ÅKERMAN
CFO
Telephone: +46 8-558 059 35
Mobile: +46 704-15 23 65
E-mail: fredrik.akerman@bisnode.com
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