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The GfK Group 2010GfK. Growth from Knowledge
GfK Group GfK. Growth from Knowledge September 2010
1 GfK at a glance
Agenda
Key facts about the market research industry2
1 GfK at a glance
5 Star Initiative: where we are heading3
GfK share and shareholder structure4
Sectors5
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GfK Group GfK. Growth from Knowledge September 2010
GfK at a glance1
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GfK Group GfK. Growth from Knowledge September 2010
Mission Statement
Companies need to make decisions. Knowledge is the basis for decision-making.
Our business information services provide the essential knowledge that industry, retail, healthcare and service sectors and the media need in order to make their decisions.
As a knowledge provider, we aim to be at the top in all the global markets in which we operate – in the interest of our clients, our employees, our company, our shareholders and the general public.
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GfK Group GfK. Growth from Knowledge September 2010
A strong heritage in market research
1925Founded as “Institut für Wirtschaftsbeobachtung
1984Operations hived off into a limited company;
September 1999GfK shares start trading on the Frankfurt stock
February 2009 Change to a European
der deutschen Fertigware”
1934Founded asGfK-Nürnberg e.V. (the GfK Association)
GfK-Nürnberg e.V. to retain status as a non-profit organization
1990Re-structured as privately held Inc. corporation (stock
exchangeGlobally active pure market research player
May 2005Acquisition of NOP WorldGrowth from Knowledge
joint stock companySocietas Europaea (SE)Represents internationalcorporate culture
GfK Association) corporation (stock corporation)Focus on internationalization
Growth from Knowledgehas a new dimension
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GfK Group GfK. Growth from Knowledge September 2010
GfK Group: key features (I)
Sales2009: 1,164 EUR million (2008: 1,220 EUR million )
Employees2009: 10,058 full-time staff (2008: 9.692)82% of which outside Germany
Services• Comprehensive information services on consumer goods,
healthcare, media and services markets• Research know-how• Marketing consultancy• Marketing consultancy
NetworkMore than 100 countries
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GfK Group GfK. Growth from Knowledge September 2010
GfK Group: key features (II)
Core businessPure market research, delivering information services to major global players in the services, media, consumer goods and g p y , , ghealthcare industries
Market positionLargest market research company in Germany, 4th largest in Europe and in the world
USPFull service worldwide: more than half of our top 50 clients consult GfK in at least two of our three sectors and in at least five of our six regionsat least two of our three sectors and in at least five of our six regions
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GfK Group GfK. Growth from Knowledge September 2010
Management Board
Professor Dr. Klaus L. Wübbenhorst
CEO
PetraHeinlein
COO
Dr. GerhardHausruckinger
COO
Wilhelm R.Wessels
COO
Debra A.Pruent
COO
SectorRetail andTechnology
SectorCustomResearch
SectorCustomResearch
SectorCustomResearch
SectorMedia
Pamela Knapp
CFO and HumanResourcesDirector
Dr. GérardHermet
COO
SectorRetail andTechnology
29 year career 18 years GfK
23 year careerfrom 11/2009 GfK
18 year careerfrom 09/2010 GfK
26 year career25 years GfK
32 year career32 years GfK
22 year career4 years GfK
Technology Research Research ResearchTechnology
32 year career26 years GfK
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GfK Group GfK. Growth from Knowledge September 2010
GfK development 1999-2009
Sales in EUR million1 Employees
12209070
9692
1164
10058
164177 192
236 254 270 290381470
506
669
937
11121162
1220
316
366 1345 1443 1502 1587 16281714
3676
4212
4750
5539
75157903
1746
1164
301 1790
1 Up to 2001 figures according to HGB, from 2001 to 2004 figures according to US GAAP, since 2005 figures according to IFRS
TotalGermany TotalGermany
164
1999 2000 2001 2004 2005 2006 2007 2008
1366 1345 1443
1999 2000 2001 2004 2005 2006 2007 20082009 2009
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GfK Group GfK. Growth from Knowledge September 2010
GfK Group’s worldwide coverage: more than 100 countries
AlbaniaAlgeriaArgentinaAustraliaAustriaAzerbaijanBahrainBangladeshBelgiumBoliviaBosnia-HerzegovinaBotswanaBrazilBulgariaCambodiaCanadaChileChina
Colombia CroatiaCyprusCzech RepublicDenmarkEcuadorEgyptEstoniaFinlandFranceGeorgiaGermanyGreeceGuatemalaHong KongHungaryIndiaIndonesia
IranIraqIrelandIsraelItalyIvory CoastJapanJordanKazakhstanKenyaKoreaKuwaitKyrgyzstanLatviaLebanonLibyaLithuaniaMacedonia
MalaysiaMexicoMontenegroMoroccoMozambiqueNetherlandsNew ZealandNigeriaNorwayOmanPakistanPanamaParaguayPeruPhilippinesPolandPortugalQatar
RomaniaRussiaSaudi-ArabiaSenegal SerbiaSingaporeSlovakiaSloveniaSouth AfricaSpainSudanSwedenSwitzerlandSyriaTajikistanTaiwanTanzaniaThailand
TunesiaTurkeyTurkmenistanUgandaUkraineUnited Arab Emirates United KingdomUruguayUSAUzbekistanVenezuelaVietnamYemen
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GfK Group GfK. Growth from Knowledge September 2010
Sales by region 2009
3%
26%
7%
18%
6%
Germany
Western Europe/Middle East/Africa
Central and Eastern Europe
North America
Latin America6%
8%
40%
Latin America
Asia and Pacific
39%
GfK Group GfK. Growth from Knowledge September 2010
Market research industry2
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GfK Group GfK. Growth from Knowledge September 2010
Market research industry: breakdown of sales by region
2009: first decline in over 20 years
9,188
1,486
4,480
Sales in 2009 US$ million
North America
Asia and the Pacific
Europe
Latin America
Middle East/Africa
13,299
492
-3.8
1.4
-1.8
-4.8
4 2
Growth in %(local currency)
46
15
5 2
Percentage breakdown of sales by region
Source: Esomar Industry Report 2010
Middle East/Africa 492 -4.2
Total 28,945 -3.732
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GfK Group GfK. Growth from Knowledge September 2010
League table of the market research industry
Sales 2009 Organic growthCompany in US$ million in %
1. The Nielsen Company, USA 4,628 1.0
2. The Kantar Group, UK 2,823 -9.5
5. Ipsos Group, France 1,315 -3.8
3. IMS Health, USA 2,190 -2.4
4. GfK Group, Germany 1,622 -6.0
6. Synovate, UK 816 -9.6
7 Symphony IRI Group USA 706 1 2
Source: Figures from honomichl global top 25 industry report 2010
9. Arbitron, USA 385 4.4
7. Symphony IRI Group, USA 706 1.2
8. Westat, USA 502 7.0
10. Intage, Japan 369 0.3
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GfK Group GfK. Growth from Knowledge September 2010
5 Star Initiative: where we are heading3
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GfK Group GfK. Growth from Knowledge September 2010
5 Star Initiative: overview
Fact-based Consultancy
Top 3 Global Reach
Full Service
Excellent Financials
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GfK Group GfK. Growth from Knowledge September 2010
Star 1: Fact-based Consultancy
> Innovation leadership
>Focus on customer relationship
>Competence through added value and
With the first initiative, “Fact-based Consultancy”, we aim to consistently expand our service offering to produce high quality, information-based ongoing advisory services for the top-level management of our clients. In addition to providing precise and up-to-date information, we intend to further strengthen our position as the essential partner for our clients’ market decisions.
relationshipvalue and consultancy
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GfK Group GfK. Growth from Knowledge September 2010
Star 2: TOP 3
> Top 3 in key countries –
> Top 3 for the individual sectors –
> Top 3 global player –
With the “Top 3” initiative, we have set ourselves the ambitious target of becoming the number 3 in the market research industry. In order to achieve this aim, we will work intensively to occupy at least the number 3 spot in the industry for the sectors and in the key countries.
Target achieved in 11 out of the 20 biggest market research countries
Aim achieved in 2 sectors
Currently number 4
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GfK Group GfK. Growth from Knowledge September 2010
Star 3: Global Reach
Our third aim under the “Global Reach” initiative is to further expandOur third aim under the Global Reach initiative is to further expand our network from the present level of 100+ countries and to establish a presence in other countries, which are important both economically and in terms of market research, and where we do not yet have our own subsidiaries.
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GfK Group GfK. Growth from Knowledge September 2010
Star 4: Full Service
> Use of standard, high quality, multivariate analysis methods
> Information services for the full range of strategic and
>Expertise in all markets and regions relevant to
With our fourth initiative, “Full Service”, we intend to further enhance our position as a company specializing in market research services with a wide range of information, analysis and advisory services for all the market research segments in consumer goods, pharmaceuticals, media and services.
analysis methodsstrategic and operating marketing decisions
regions relevant to market research
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GfK Group GfK. Growth from Knowledge September 2010
Star 5: Excellent Financials
Net indebtedness/EBITDA ~ 2
Sales 1,500 EUR million
Margin 13-15 %
Tax ratio of approx. 30%
The fifth initiative, “Excellent Financials”, defines our medium-term financial expectations. We are working to drive our sales quickly up to the EUR 1.5 billion mark and in the next few years will generate a margin of between 13% and 15%. We have set specific targets for reducing our indebtedness. This also applies to the tax ratio for the Group.
~ 2.31,164.5 EUR million12.6 % 19.8 %
GfK Group GfK. Growth from Knowledge September 2010
GfK share and shareholder structure4
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GfK Group GfK. Growth from Knowledge September 2010
Key indicators for GfK share
Unit
High EUR
Lo EUR
31.27
13 00
2008
24.29
13 67
2009
Low EUR
Closing price EUR
Average daily volume traded No.
Stock market capitalization as of Dec. 31 EUR m
No. of no-par shares as of Dec. 31
Ranking in SDAXby sales
by market capitalization
No. of no-par shares (weighted) No.
13.00
22.02
31,668
791.6
35,947,363
30
5
35,884,308
13.67
24.13
21,745
867.4
35,947,363
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4
35,884,308
No.
Dividend EUR
Total dividend EUR m
Earnings per share EUR
Free cash flow per share EUR
by market capitalizationIndex weighting by market capitalization in %
0.46
16.5
2.04
2.64
5
3.4
0.30
10.8
1.42
2.38
4
4.4
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GfK Group GfK. Growth from Knowledge September 2010
GfK share price performance: September 2009 to September 20101)
32
34
32
34
24
26
28
30
24
26
28
30
1) All values are indexed to the GfK share price, close price, in Euro, Source: Thomson Datastream; September 8, 2010
GfK DAX SDAX Dow Jones Euro Stoxx Media
S O N D J F M A M J J A S20
22
20
22
13
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GfK Group GfK. Growth from Knowledge September 2010
GfK SE: shareholder structure
U i dOther
CountriesManagement Board and
S i B d f GfK SE
GfK Association57.0% Free Float
43.0%
USA31 7%
UnitedKingdom 13.4%
France 6.4%
Countries 3.8%
Germany42.0%
(Private Investors)
Supervisory Board of GfK SE1.5%
Free float structure
2010
Private Investors are in Germany only, September 2010
31.7%
Germany 1.2%(Institutional Investors)
GfK Group GfK. Growth from Knowledge September 2010
Sectors5
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GfK Group GfK. Growth from Knowledge September 2010
3 sectors: knowledge from 3 sources
Custom Research
Point of Consumers and Physicians
Retail and Technology
Point of sales
Media
Point of MediaData source and Physicians
Tailor-made surveys and continuous data collection
~43%
Retail information through continuous data collection
100%
Tailor-made surveys and continuous data collection regarding media consumption
~95%
source
Services
Share of continuous
709 EUR million
5.6%
326 EUR million
29.4%
126 EUR million
13.1%
research
Sales
Margin
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GfK Group GfK. Growth from Knowledge September 2010
Custom Research
MarketsAutomotive, business and technology, financial, media, fast moving consumer goods (FMCG); in the HealthCare segment: drugs, materials and products for dentists and l blaboratories
Marketing solutionsMarket structure, brand/communication, customer satisfaction, pricing, concept/ product tests, market positioning
P
Customer benefitMinimize risks of business decisions and ensure sustained growth in profit potential
PresenceIn more than 90 countries across the globe
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GfK Group GfK. Growth from Knowledge September 2010
Case study – saving and investing in Eastern Europe
Will the members of your household have a chance to save money in the coming twelve months?
3 9 8 4 7 14 20 4 5 5 5 14 2
55 58 66 58 66 67 61 59 76 78 78 82 75 92
43 38 35 34 30 25 25 21 20 17 16 13 11 6
Aust
ria
Slov
enia
Slov
akia
Esto
nia
Lith
uani
a
Croa
tia
Russ
ia
Rom
ania
Pola
nd
Latv
ia
Bosn
ia
Ukr
aine
Serb
ia
Bulg
aria
YesNo/unsureDon’t know/no answer
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GfK Group GfK. Growth from Knowledge September 2010
Retail and Technology
MarketsConsumer electronics, entertainment media, office communications, photographic and optical equipment, domestic appliances, IT and telecommunications, DIY, tourism,
dsports equipment and entertainment
Marketing solutionsProduct and pricing policies, advertising, distribution, sales and logistics
Customer benefitAccess to databases and/or transfer of standardized analysis of information about trends, volume, sales, sales channels and segments in our clients’ markets
PresenceIn more than 80 countries
, , , g
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GfK Group GfK. Growth from Knowledge September 2010
Turnover Development forTechnical Consumer GoodsGrowth Rates 2009 to previous year in %
Case study: Consumer Electronics in Europe
+1,1
-3,0
+0,6
-22,5
-11,5
-1,3
-3,7
-33,9
-12,6
-2,3
-42,6-1,7
-7,7
-6,8
Source: GfK Temax®, Turnover Development 2009/2008, Local Currency
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GfK Group GfK. Growth from Knowledge September 2010
Media
MarketsTV, radio, newspapers, magazines, bill-board, online
Marketing solutionsViewer, reader and listener reach and qualitative studies on consumption, acceptance, preferences and recall of media content
Presence
Customer benefitMedia reach as the basis of pricing in advertising and media planning
PresenceIn more than 30 countries across Europe and North America
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GfK Group GfK. Growth from Knowledge September 2010
Viewing time in minutes
Case study – Average TV viewing time of different countries 2009
212
Switzerland
Germany
151
212Ukraine
184 The Netherlands
185 Belgium
228
Viewers age 3 upwards (Ukraine and Belgium : viewers age 4 upwards)
Austria 145
The GfK Group 2010GfK. Growth from Knowledge