GfK significantly increases forecast for 2004
Nuremberg, Germany (ots) - The GfK Group closed the first six months of 2004 with clearly improved figures compared with the previous year. Sales were up by almost 14 per cent to EUR 320.6 million, with EBIT after income from participations of EUR 35.5 million rising at an even higher rate of 19.1 per cent. The margin, that is EBIT after income from participations in relation to sales, increased to 11.1 per cent (previous year: 10.6 per cent) in the first half-year. Consolidated total income rose by almost 37 per cent to EUR 21.2 million.
On the strength of the good performance, GfK is increasing ist forecast for the year. The new sales target is EUR 660 million, an increase of EUR 10 million on the previous target figure. EBIT after income from participations is set to increase to over EUR 82 million (previously EUR 78 million), which equates to a margin of approx. 12.5 per cent.
GfK anticipates very good business growth in 2004. The company's performance in the first six months of the year has exceeded expectations. With the companies acquired so far this year, sales growth will be up by almost 11 per cent to EUR 660 million. This is an increase of EUR 10 million on the figure anticipated originally. On a comparable basis with last year, this means growth of 6.7 per cent. GfK is therefore growing considerably faster than the market research sector as a whole, whose growth is estimated at up to four per cent. Accordingly, the company is winning market share.
In addition, GfK is aiming to increase EBIT after income from participations to over EUR 82 million, which is significantly higher than the increase in sales. The target margin, i.e. the ratio of EBIT after income from participations to sales, is around 12.5 per cent.
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