Goodwill Adjustment to Hit GfK Income

GfK has reported that a EUR 112.5m adjustment to goodwill on acquisitions is likely to result in a 'significant impact' on its consolidated income.

The decrease relates to the Consumer Experiences sector in the North and Latin America, southern and western Europe regions, and a 'minor amount' to central and eastern Europe and the Middle East, Turkey and Africa areas.

GfK says the decrease in value has no impact on the performance indicator of adjusted operating income and does not affect cash flow.

In November, the firm reported a 4% drop in sales to EUR 361.4m during the third quarter 2013, from EUR 376.7m in Q3 2012. During the period, sales in the Consumer Experiences division fell 0.3% to EUR 153.8m, while the Consumer Choices recorded a 6.9% fall to EUR 206.3m.

The firm is led by CEO Matthias Hartmann (pictured) and is online at: www.gfk.com .