NEWS13 May 2013

Slow start to year sees Q1 income drop for GfK

Europe Financials

GERMANY — Income at global research company GfK dropped in the first quarter for this year compared with the first quarter of 2012 according to its latest financials.

The company said adjusted operating income was around €23m for the first quarter 2013 compared to €33.5m in Q1 2012 due to a weak start to the year.

Its Consumer Experience sector saw delays in orders at the beginning of the year, resulting in income for the first three months down from €7.9m in 2012 to €2.4m, while the delayed conclusion of major orders saw the Consumer Choices sector dropping by €4.2m to €23m.

However, sales as a whole were up by around one percent year-on-year to €348m, with Consumer Experience showing a slight increase of 0.6% to €207m, and Consumer Choice rising by 1.4% to around €140m.

The company said that despite the slow start business development in March was “considerably more positive”.

As a result, it added: “GfK confirms its annual targets and anticipates that the modest sales increase at the start of the year will be offset by significantly sharper growth in the subsequent quarters.”

Pictured: Matthias Hartmann CEO, GFK