Mixed Bag for GfK in First Quarter - But Profits Up

GfK has achieved 'moderate' organic growth of 0.9% during the first quarter of the year. Currency effects meant the reported sales figure declined 0.6% to EUR 360.5m versus Q1 2015. The firm's Consumer Choices sector grew strongly while 'Consumer Experiences' revenue fell.

Consumer Choices saw organic growth of 9.8%: despite negative currency effects, reported growth of 8.1% was achieved, and sales were EUR 169.9m. By contrast the Consumer Experiences division generated sales of EUR 190.5m - 6.0% down in organic terms, with currency effects contributing towards a reported decline of 6.9%. By region, Asia and the Pacific, Latin America and Central Eastern Europe/META all achieved organic growth, while sales declined in North America, as well as in Northern, Southern and Western Europe.

During the period, EBITDA increased 23.6% to EUR 44.7m, from EUR 36.2m a year earlier, and adjusted operating income was up 17.6% to EUR 32.1m. Margin increased by 1.4 percentage points to 8.9%. CEO Matthias Hartmann (pictured) comments: 'We are satisfied with the first quarter overall, particularly since we achieved strong growth in the Consumer Choices sector and improved the margin of the group. Through the acquisition of Netquest, we enhance our position in digital panels and our business in Latin America, and we broaden our data assets'.

In January, GfK announced a return to organic growth (up 1.1%) during the 2015 financial year, after a decline of 2.0% the previous year, with reported sales up 6.3% to EUR 1.54bn.

Web site: www.gfk.com .