GfK reports 6.2% rise in 2011 sales to €1.37bn
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GERMANY— GfK’s sales were up 6.2% to €1.37bn in 2011, with organic growth reported across the company’s custom research, retail and technology and media businesses.
Retail and technology led the way with a 9.8% rise in revenue to €407m. Custom was up 5.6% to €829m. Media was up 1.4% organically but negative currency effects of 1.5% held revenue flat at €133m. The ‘other’ division generated sales of €5m.
Growth was at its strongest for the group in the Asia Pacific region, up 12% to €120m, followed by Germany (€377m, up 10.5%) and Central and Eastern Europe (€98m, up 8.8%). Only North America reported a sales decline, of 8.7% to €200m. Further details are expected with the publication of GfK’s full financial statement in March.
Adjusted operating income was up 1.8% to €188m, but the margin was below that of the previous year thanks to €11.4m in “non-recurring factors”, including write-down costs, expenses related to the implementation of the company’s new corporate strategy and the change of CEO.
Former IBM executive Matthias Hartmann replaced Klaus Wübbenhorst as chief executive on 1 December.
