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Experian Reports 10% Revenue Growth for Full year 2012/13 (constant exchange rates)

Experian reported strong Full Year 2013 (Fiscal 2013 ending March 31st 2013) performance; considerable strategic progress with our global growth program gaining momentum and delivering strong results.  Notable performances from North America and Latin America, particularly in Credit Services, and from Consumer Services in the UK&I.

Revenue from continuing activities up 10%, at constant exchange rates. Organic revenue growth of 8%.  Total revenue from continuing activities up 6%.  Total Group revenue of US$4.7bn (2012: US$4.5bn).

Strong margin progression. EBIT margin from continuing activities up 40 basis points to 26.6%. EBIT from continuing activities up 13%, at constant exchange rates. Total EBIT from continuing operations of US$1,253m up 7%.

Profit before tax from continuing operations of US$440m (2012: US$689m), after an IFRS charge of US$558m (2012: US$325m) from the movement in the Serasa put option.  Net debt of US$2,938m at 31 March 2013. 94% conversion of EBIT into operating cash flow.  Plan to initiate a share purchase program totalling US$500m over the next 12 months (inclusive of share purchases in respect of employee share plans that vest).

Sir John Peace, Chairman, commented: “Experian has delivered excellent financial results and has built firm foundations to sustain premium performance into the future. In keeping with our capital strategy, which seeks to balance growth investment with returns to shareholders, we are today announcing a further share repurchase programme, along with a 9% increase in our full-year dividend.”

Don Robert, Chief Executive Officer, commented:  “Experian performed strongly last year. We met or exceeded our core financial objectives and made good progress strategically. Our global growth programme is growing in scale and momentum, positioning us strongly for the future and helping us to withstand economic headwinds in some of our markets. For the year ahead, we aim to deliver further premium growth, and look for mid to high single-digit organic revenue growth, modestly improved margins (at constant currency) and cash flow conversion of at least 90%.”

Source:  Experian Press Release

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