TransUnion Holding Company announced total revenues for the second quarter increased 8.9% compared with the second quarter of 2013. Weakening foreign currencies accounted for a decrease in revenue of 1.6%, while acquisitions accounted for an increase in revenue of 6.5%.
Key highlights include:
- Revenue in the Interactive segment increased 11.4% compared with the second quarter of 2013, driven by an increase in the average number of subscribers and volume in our indirect channel.
- Revenue in the USIS segment increased 10.1% compared with the second quarter of 2013, with increases in revenue in all platforms.
- Excluding the impact of weakening foreign currencies and acquisitions, Emerging Market revenue increased by 8.2% compared with the second quarter of 2013.
- Adjusted EBITDA1 was $101.7 million, an increase of 7.7% compared with the second quarter of 2013, driven by broad-based revenue growth.
- On May 20, 2014, TransUnion acquired an additional 7.5% equity interest in Credit Information Bureau (India) Limited (“CIBIL”), increasing our ownership interest to 55%, resulting in consolidation of the results of operations of CIBIL as part of our International segment.
“In the second quarter, we generated strong revenue growth across all business segments driven by healthy organic growth in our International and Interactive segments and revenue from our recent acquisitions of eScan, TLO, and CIBIL, which are performing well and exceeding expectations,” said Jim Peck, TransUnion’s president and chief executive officer. “We are very excited about our majority stake in CIBIL, India’s leading credit information company. Over the past 13 years, we have established a leading analytics and decisioning business in India and now we can further build on this foundation and better position one of our fastest growing and most dynamic markets for continued success. In addition, we have begun the implementation of the first phase of our technology upgrade and are already experiencing the benefits in terms of innovation, operational efficiency and a reduction in costs.”