Experian 2009 Annual Report Download - page 21

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19Experian Annual Report 2009
Introduction
2 – 7
Business review
Latin America
Governance
44 – 72
Financial statements
73 – 148
19
Decision Analytics
There was a good performance at
Decision Analytics, with organic
revenue up 31% from a low base. Growth
was driven by higher penetration of loan
origination software, as well as rising
demand for customer segmentation
and account management tools.
Marketing Services
There was very strong growth at
Marketing Services, where organic
revenue increased by 56%. Growth
reected a signicant increase in
new business wins for data and data
enhancement.
Financial review
Revenue was US$462m for Latin
America, up 51% at constant exchange
rates, reecting the rst full-year
contribution from Serasa (Serasa was
acquired in June 2007). Organic revenue
growth was 18%.
EBIT in the year was US$118m, up 67%
at constant exchange rates. The EBIT
margin was 25.5% (2008: 23.1%). The
margin improvement reects strong
positive operating leverage.
Organic revenue growth
43%
Organic growth is dened as year-on-year revenue growth
at constant exchange rates
09
08
18%
Social, ethical and
environmental (SEE) risks
and opportunities
Sustainability has long been a key
business parameter for Serasa. The
company reports to Global Reporting
Initiative (GRI) standards and has
now been listed as one of the 20 most
sustainable business models in Brazil.
Serasa won nine separate awards as an
employer during the year and, as part
of its commitment to consumers, is
piloting a major new nancial education
programme aimed at teachers and
parents of young people.
2009 Revenue by activity
Decision Analytics
Credit Services
Marketing Services
EBIT (US$m) and margin
EBIT
38%
07
25.5%
23.1%
09 118
08 75
07(4) 07