experianTotal revenue from continuing activities was US$2,216m, up 4% at constant exchange rates, with organic revenue also up 4%. At actual exchange rates, total revenue from continuing activities fell by 6% reflecting foreign exchange headwinds during the period.

  • Total revenue including discontinued activities was US$2,239m.
  • Total EBIT from continuing activities was US$570m, up 3% at constant exchange rates. At actual exchange rates, total EBIT from continuing activities was down 8%. Total EBIT was US$576m.
  • EBIT margin from continuing activities was stable at constant exchange rates. The impact of foreign exchange movements reduced EBIT margin at actual exchange rates by 60 basis points to 25.7%.
  • Experian 2015 vs 2014 first half fiscal y 2016 by GeoBenchmark profit before tax was US$541m, up 4% at constant exchange rates. Profit before tax was US$458m at actual exchange rates (2014: US$534m).
  • Operating cash flow conversion was 95%. Net debt increased by US$138m reflecting share purchases, with net debt to EBITDA now at 2.1 times.
  • Benchmark EPS was 42.0 US cents, up 5% at constant exchange rates and down 7% at actual exchange rates. Basic EPS was 34.3 US cents (2014: 41.8 US cents).
  • First interim dividend of 12.5 US cents per ordinary share, raised 2% to reflect the underlying strength of the business, notwithstanding the foreign exchange headwinds.
  • Share repurchase programme extended by US$200m.

Experian 2015 vs 2014 first half fiscal y 2016 by ServicesGeographic results based on constant exchange rates or based on organic revenue were as follows:

  • North America returned to growth with organic revenue up 1%
  • Latin America delivered organic revenue growth of 6%, in spite of a tough economic environment
  • UK and Ireland produced 5% organic growth
  • EMEA/Asia Pacific grew 6% organically

Service Segments results in constant exchange rates or based on organic revenue growth were as follows:

  • Credit Services growth at constant rates: 7%
    • North America 8%
    • Latin America 7%
    • UK and Ireland 5%
    • EMEA / Asia Pacific -3%
  • Decision Analytics at constant exchange rates: 10%
    • North America 2%
    • Latin America 9%
    • UKI and Ireland 5%
    • EMEA / Asia Pacific 19%
  • Marketing Services at constant exchange rates: 0%
    • North America -2%
    • Latin America -19%
    • UKI and Ireland – %
    • EMEA / Asia Pacific 8%
  • Consumer Services at constant exchange rates: -4%
    • North America -7%%
    • UKI and Ireland 5%

Brian Cassin, Chief Executive Officer, commented: “We are making substantial progress on our five strategic priorities. We’ve taken steps to focus the portfolio, the trend in organic revenue growth has improved and we are returning more capital to shareholders. We have seen particular strength in key parts of the business, such as Credit Services and Decision Analytics, while in other areas our recovery actions are gaining traction. With this progress on our strategic priorities we are creating a strong platform for delivering sustainable growth.” “As we look ahead for the full year, while foreign exchange will continue to be a headwind, at constant currency we expect organic revenue growth to be in the mid-single digit range, to deliver stable margins and to see further progress in Benchmark earnings per share.”

Source:  Experian Earnings Release