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NEWS15 May 2017

GfK’s Q1 sales and income down

Europe Financials News

GERMANY – Group sales for GfK fell 2.4% to €360.5 million for the first three months of 2017 and operating income fell 57.8% to €11.6m compared with the same period the previous year.

In organic terms, consolidated sales were down 2.7%, affected by positive currency effects and a negative impact of acquisition and divestments.

In terms of business sectors, consumer choices made sales of €162.9m, a fall of 4.1% on Q1 2016. Consumer experiences’ sales were €189m, just 0.8% down on the same period in the previous year.

Regionally, Central Eastern Europe, Asia Pacific and Southern & Western Europe saw sales increase but Northern Europe (GfK’s biggest market), Latin America and North America all fell.

The company said the outlook in 2017 remained challenging. In a statement it said: ‘The subdued start to the first three months means that developments in both sales and adjusted operating income fell short of expectations. If GfK does not successfully reverse this development, this could lead to a year-on-year decline in both sales and adjusted operating income.’

Peter Feld was appointed GfK’s new CEO in March this year. 

@RESEARCH LIVE

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