Toluna Celebrates 'Remarkable Year'

Online panels and software firm Toluna has announced final results for the year ended 31 December 2009. Underlying profit before tax of £7.6 million is well ahead of market expectations, while the integration of Greenfield Online is transforming its global position.

CEO Frederic-Charles Petit said 2009 had been 'a remarkable year for Toluna, with record revenues and underlying profits and the transformational acquisition of Greenfield Online.' The firm saw strong revenue growth against a 'challenging' global economic background and says the Greenfield integration is advancing ahead of expectations, giving his company 'critical mass in North America and Europe' and a platform for growth in Asia-Pacific.

Toluna now has 17 offices in Europe, North America and Asia Pacific and respondents in 34 countries. In addition to panel sample and online research software QuickSurveys, it claims 'the world's first' social voting community site and an online community building and hosting offer already used by more than a hundred corporate customers.

Chairman George Kynoch said Toluna had moved in 2009 'from being a major regional player to the world's leading independent online panel and survey technology provider to the global market research industry', with an excellent, technology-based platform for continued growth in the future.

Separating out the effects of the Greenfield buy, Kynoch said that prior to the acquisition group revenue was growing at an annual rate of 67%, while subsequently overall growth in the enlarged group year on year was 128%, finishing the year at £49.5m (2008: £21.7m).

Revenue in Europe rose 65% to £22.9m; in America more than 230% to £25.2 million; and in Asia Pacific more than 260% to £1.4m. Underlying profit before tax rose 43.5% to £7.6m, while profits after tax were £1.6m, down from £3.5m in 2008 with the acquisition making comparison hard.

Client numbers are up from 613 to 1,389 at the year-end; panels numbers have reached 4 million in 34 countries; and headcount stood at 707. The firm says repeat business accounted for 90% of revenue, up from 77% in 2008.

Trading in the early months of 2010 has been robust, and the company will celebrate its tenth birthday in a few weeks' time with the donation of 50,000 of its shares to charities across the globe, chosen by staff and the worldwide voting community.

Corporate web site: www.toluna-group.com .