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GfK Boasts of 'Excellent' Year
GfK rounds off a good year with a strong fourth quarter and describes its 2010 preliminary figures, which show annual sales growth of 11.1%, as 'Excellent'.
 The company generated sales of around EUR 1,294 million compared to EUR 1,164.5 million in the previous year. This overall increase was largely attributable to organic growth of 7.3%. Acquisitions, however, played a relatively minor role in sales growth in the year. Currency effects also worked in the company's favour. The increase in adjusted operating income was even more pronounced, with the figure rising by 25.7% from EUR 147.2 million to around EUR 185 million. The company also saw their margin increase by 170 base points from 12.6% to 14.3%.
All three of GfK's sectors recorded sales growth and the Custom Research and the Retail and Technology sectors also increased their margin. With growth of 10.8%, the Custom Research sector more than offset the downturn in sales in 2009. The Retail and Technology sector again recorded the strongest growth at 13.8%. The Media sector was lower than this at 5.3% and also saw a slight downturn in income, in part as a result of increased expenditure for the roll-out of new measurement technology in Germany.
GfK expanded its market position in all regions, with particularly pronounced growth in Latin America (39.5%), Central and Eastern Europe (25.2%) and Asia and the Pacific (22.5%). Growth in the North America region was driven by currency effects.
As reported here on Tuesday, Professor Dr. Klaus L. Wübbenhorst, CEO, will not be extending his current service contract, which expires in July 2012. Dr. Arno Mahler, Chairman of the Supervisory Board, noted his great regret at this decision and expressed his thanks to Professor Wübbenhorst for the outstanding success he has achieved.
GfK are predicting sales growth of 5-6% and margin of at least 14.3% for 2011.
Full results will be available next month and details of these figures can be found at:
www.gfk.com/group/press_information/press_releases/007405/index.en.html
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