GfK AGM Reports Strong Results and Good News for Shareholders

A total of c.400 shareholders and their representatives attended the GfK AGM in Nuremberg on Friday 13 June, to hear good news about dividends, current orders and acquisitions strategy.

Since the IPO in 1999, GfK AG has increased its dividend each year. The total amount distributed has risen by 54 per cent in the past four years, and from EUR 4.4 to 5.2 million this year. Sales were up by 7.6 per cent to EUR 135.7 million in the first quarter of 2003 and EBIT including income from participations rose to EUR 9.1 million (same quarter in the previous year EUR 5.7 million).

GfK has been pursuing a strategy of international expansion, with its network growing in 2002 by a further 15 acquisitions and increases in shareholdings. The proportion of sales achieved outside Germany amounts to approximately 62 per cent and 70.4 per cent of all employees work outside Germany.

The order book for 2003 also looks promising. In the first three months of the year, existing orders for the current financial year and invoiced orders already account for 59 per cent of the anticipated annual sales for 2003. The corresponding value for the previous year was 54 per cent. This positive trend has also continued beyond the first quarter of 2003. The figure as at the end of May 2003 stood at 72 per cent, compared with 70 per cent in the same period of the previous year.

According to Dr. Klaus L. Wübbenhorst, Chief Executive Officer of GfK AG, the results 'confirm once more how well GfK is positioned with its four business divisions and the HealthCare segment and offices in more than 50 countries worldwide'.

With no change to the scope of consolidation in 2003 GfK expects to achieve an increase in sales of 5.5 per cent to EUR 590 million. EBIT including income from participations is expected to reach a level of around ten per cent.

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.