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GfK Sales Down in 2014
GfK has reported a 2.9% drop in annual sales to EUR 1.451 billion from EUR 1.495 billion the previous year. Currency effects accounted for a 0.9% reduction: in organic terms, sales were down by 2.1%.
 During 2014, the group's adjusted operating income decreased by 5.9% to approximately EUR 179m compared with the previous year. However, adjusted for the effect of switching of a pension plan in 2013, figures for the two years were within a percentage point. Last year's margin fell slightly to 12.3% from 12.7% in 2013, but again the company says that net of the pension effect, the margin was higher then the previous year (by 0.3%).
In a statement, GfK said that during the past year it had continued to 'consistently realign' its portfolio in the Consumer Experiences sector, launched a number of global products in the market, and invested heavily in future growth. In line with this strategy, GfK says it achieved higher sales in the 'high-margin' Consumer Choices sector and a higher margin in the Consumer Experiences sector.
Excluding currency effects and acquisitions, Consumer Choices sales rose 2.7%, while the margin fell to 22.2% from 23.8% in 2013, following the set-up of new panels in Brazil and Saudi Arabia, tech platform development, the launch of new business, and scheduled write-downs. Meanwhile, Consumer Experiences' margins were up from 6.6% to 7.0%, despite a 6.2% drop in sales to EUR 827m.
CEO Matthias Hartmann (pictured) reflected: 'Our consistent transformation is taking hold and the trend in the margin reflects that we are well underway. GfK is in a strong position to embrace the rapid change happening in our industry. We are building on our global portfolio, which we are making increasingly scalable, our optimized structure and our future-oriented business model.'
The company's 2014 annual statement will be issued on 13th March.
Web site: www.gfk.com .
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