news
release
Trading update, first
quarter
16
July 2024 ─ Experian plc, the global
data and technology company, today issues an update on trading for
the three months ended 30 June 2024.
Brian Cassin, Chief Executive Officer,
commented:
"We delivered good growth in Q1,
consistent with our expectations. Revenue was up 7% at actual
exchange rates from ongoing activities and 8% at constant exchange
rates, with organic revenue growth of 7%.
Our growth expectations for the full
year are unchanged. We continue to expect organic revenue growth of
between 6-8% and margin accretion of 30-50 basis points, all at
constant exchange rates and on an ongoing basis."
% change in revenue from
ongoing activities year-on-year for the three months
ended
30 June
2024
Ongoing activities only
|
Total revenue growth
%
|
Total revenue growth
%
|
Organic revenue growth
%
|
|
At actual
exchange
rates1
|
At constant exchange
rates
|
At constant exchange
rates
|
North America
|
8
|
8
|
8
|
Latin America
|
4
|
8
|
5
|
UK
and Ireland
|
4
|
3
|
2
|
EMEA
and Asia Pacific
|
5
|
7
|
7
|
Total global
|
7
|
8
|
7
|
1
Experian reports in US dollars.
% change in organic revenue
year-on-year for the three months ended 30 June
2024
Organic revenue growth
%2
|
Data
|
Decisioning
|
B2B3
|
Consumer
Services
|
Total
|
|
|
|
|
|
|
North America
|
6
|
8
|
7
|
10
|
8
|
Latin America
|
(1)
|
5
|
1
|
24
|
5
|
UK
and Ireland
|
1
|
3
|
2
|
4
|
2
|
EMEA
and Asia Pacific
|
3
|
15
|
7
|
n/a
|
7
|
Total global
|
4
|
7
|
5
|
11
|
7
|
2
Ongoing activities only, at constant exchange
rates.
3
B2B = Business-to-Business segment which consists of Data and
Decisioning business sub-divisions.
Business mix including %
change in organic revenue year-on-year for the three months ended
30 June 2024
Segment
|
Business unit
|
% of Group
revenue4
|
Q1 organic revenue growth
%5
|
North America
|
66%
|
8%
|
Data
|
CI / BI Bureaux
|
23%
|
6%
|
- CI / BI Bureaux, excluding
mortgage
|
21%
|
2%
|
- Mortgage Profiles
|
2%
|
37%
|
Automotive
|
5%
|
9%
|
Targeting
|
4%
|
5%
|
Decisioning
|
Health
|
8%
|
8%
|
DA / Other
|
4%
|
7%
|
Consumer Services
|
Consumer Services
|
22%
|
10%
|
Latin America
|
16%
|
5%
|
Data
|
CI / BI Bureaux
|
10%
|
(1%)
|
Other
|
0%
|
17%
|
Decisioning
|
DA / Other
|
3%
|
5%
|
Consumer Services
|
Consumer Services
|
3%
|
24%
|
UK
and Ireland
|
12%
|
2%
|
Data
|
CI / BI Bureaux
|
5%
|
4%
|
Targeting / Auto
|
1%
|
(14%)
|
Decisioning
|
DA / Other
|
3%
|
3%
|
Consumer Services
|
Consumer Services
|
3%
|
4%
|
EMEA and Asia Pacific
|
6%
|
7%
|
Total global
|
100%
|
7%
|
4
Percentage of Group revenue from ongoing activities calculated
based on FY24 FY revenue at actual exchange
rates.
5
Ongoing activities only, at constant exchange
rates.
CI
= Consumer Information, BI = Business Information, DA = Decision
Analytics.
North America - 66% of Group
revenue4
North America delivered organic
revenue growth of 8%. Total constant currency revenue growth was
also 8%.
B2B organic revenue growth was 7%.
Key growth contributors included mortgage, identity and fraud,
Ascend, and income and employment verification, with the underlying
credit origination environment remaining stable. Automotive
delivered strong growth reflecting industry marketing activity in
response to rising vehicle inventory levels. Targeting growth was
solid driven by digital channels and was supported by new logos and
cross sells. Health performed well with strong bookings and growth
across multiple product lines including coverage discovery, claims,
and collections.
Consumer Services delivered an
organic revenue uplift of 10%, with growth broadly spread across
our portfolio. Premium memberships performed well supported by
recently introduced financial health features which help our
members to save money. In our marketplace, insurance performance
was very strong supported by carrier roll-outs, helping to mitigate
ongoing softness in credit. We also continued to make good progress
in data breach services where we secured additional client
wins.
Latin America - 16% of Group revenue4
Latin America delivered organic
revenue growth of 5%. At constant currency, total revenue growth
was 8%, including contributions from acquisitions.
B2B organic revenue growth was 1%.
In Brazil, we continue to extend our capabilities and position
ourselves to capitalise on secular trends in the market. While
quarterly growth reflected deal timing and widespread flooding in
Rio Grande do Sul, we expect to return to more normalised levels of
growth in the quarters ahead. Importantly, we continue to make
progress in key focus areas, with strong identity and fraud growth
and further scaling of both our small and medium enterprise and
agrifinance segments. Spanish Latin America benefited from
expansion in scores and analytics.
Consumer Services delivered organic
revenue growth of 24%. In Brazil, growth was driven by Limpa Nome,
with higher volumes of debt renegotiation and increased conversion
rates via the Serasa e-wallet.
UK
and Ireland - 12% of Group revenue4
The UK and Ireland delivered organic
revenue of growth of 2%. Total constant currency growth was
3%.
B2B organic revenue growth was 2%.
We continue to perform solidly amidst a still subdued credit
market. New product initiatives remain a key growth driver, with
notable contributors including Ascend, data quality services and
fraud and identity management.
Consumer Services delivered organic
revenue growth of 4%, which reflects expansion in both marketplace
and subscription revenue. Successful platform enhancements have
improved consumer experience and further strengthened our lender
panel.
EMEA
and Asia Pacific - 6% of Group revenue4
In EMEA and Asia Pacific, organic
revenue growth was 7%. Total constant currency revenue growth was
also 7%. There was good performance across the majority of our
markets, and we continue to make good progress on our plan to focus
on key markets and increase innovation-led growth.
Future events
Experian will release results for
the half year ending 30 September 2024 on Wednesday, 13 November
2024.
Contact:
Experian
Nadia Ridout-Jamieson
Investor
queries
+44 (0)20 3042 4220
Nick
Jones
Media
queries
Teneo
Graeme Wilson, Louise Male and
Jessica
Reid
+44 (0)20 7353 4200
This announcement is available on
the Experian website at experianplc.com.
There will be a conference call today to discuss this update at
9.00am (UK time), which will be broadcast live on the website with
a recording available later.
All
financial information in this trading update is based on unaudited
management accounts. Certain statements made in this trading update
are forward-looking statements. Such statements are based on
current expectations and are subject to a number of risks and
uncertainties that could cause actual events or results to differ
materially from any expected future events or results referred to
in these forward-looking statements.
Neither the content of the Company's website, nor the content
of any website accessible from hyperlinks on the Company's website
(or any other website), is incorporated into, or forms part of,
this announcement.
About Experian
Experian is a global data and
technology company, powering opportunities
for people and businesses around the world. We help
to redefine lending practices, uncover and prevent
fraud, simplify healthcare, deliver digital
marketing solutions, and gain deeper insights into the automotive market, all using our unique
combination of data, analytics and
software. We also assist millions of people to realise their financial goals and help them to save time and
money.
We operate across a range of
markets, from financial services to healthcare, automotive, agrifinance, insurance, and many
more industry segments.
We invest in talented people and new
advanced technologies to unlock the power of data and innovate. As
a FTSE 100 Index company listed on the London Stock Exchange
(EXPN), we have a team of 22,500 people across 32 countries. Our
corporate headquarters are in Dublin, Ireland. Learn more at
experianplc.com.