Experian full-year results FY23

7am, 17 May 2023 ─ Experian plc, the global information services company, today issues its financial report for the year ended 31 March 2023.

Brian Cassin, Chief Executive Officer, commented:

“We delivered very strong results in FY23, reflecting a combination of new business wins, new products and expansion into higher growth markets. We saw growth in every region, in many cases outperforming our underlying markets substantially. Total revenue growth from ongoing activities was 6% at actual exchange rates and 8% at constant exchange rates, and organic revenue growth was 7%. Benchmark EBIT margin expansion was at the top end of our expectations, helping us to deliver Benchmark earnings per share up 9%.

“For the year ahead, we anticipate another year of growth due to the breadth and the resilience of our portfolio, and significant structural growth opportunities. Despite the uncertain economic climate, we expect to deliver organic revenue growth in the range of 4% to 6% and modest margin accretion, all at constant exchange rates and on an ongoing basis.”

1. See Appendix 1 (page 14) and note 5 to the financial statements for definitions of non-GAAP measures.
2. Organic revenue growth is at constant currency.
3. Revenue and Benchmark EBIT for the year ended 31 March 2022 have been re-presented for the reclassification to exited business activities of certain Business-to-Business (B2B), detail is provided in notes 6(a) and 7 to the financial statements.
4. See page 15 for reconciliation of Benchmark EBIT from ongoing activities to Profit before tax.

Highlights

• A year of very strong progress. Q4 organic revenue growth was 7%, to give 7% for the year, taking total revenue growth from ongoing activities to 8% at constant exchange rates.
• Consumer Services organic revenue up 11%. We now serve 168 million free members, up 23 million year-on-year across an expanded range of products and services.
• B2B organic revenue growth of 6% driven by new business wins, superior data and new product performance.
• All regions contributed to organic growth, with significant expansion in Latin America, good performances across North America and the UK and Ireland (UK&I), and improvement in EMEA/Asia Pacific.
• Benchmark EBIT rose 9% to US$1,802m.
• Benchmark EBIT margin uplift at the top end of our expectations. Ongoing Benchmark EBIT margin of 27.4%, compared to FY22 reported Benchmark EBIT margin of 26.2% and re-presented prior-year comparative margin of 26.6%. Benchmark EPS uplift of 9%, Benchmark operating cash flow conversion of 98% and Return on Capital employed of 16.5%.
• Statutory profit before tax of US$1,174m down from US$1,447m, predominantly due to a non-cash charge for the impairment of goodwill of US$179m in EMEA, a decrease in net gain from associate disposals of US$89m and an increase to the fair value of contingent consideration. Basic EPS decreased from USc127.5 to USc84.2 reflecting the lower profit before tax and an increased tax charge.
• Second interim dividend up 6% to USc37.75 per ordinary share.

View the full press release in PDF format.

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

There will be a presentation today at 9.30am (UK time) to analysts and investors via webcast. To view the slides and listen in online please go to www.experianplc.com for the link.

Experian will update on first quarter trading for FY24 on 13 July 2023.

Roundings

Certain financial data has been rounded within this announcement. As a result of this rounding, the totals of data presented may vary slightly from the actual arithmetic totals of such data.

Forward-looking statements

Certain statements made in this announcement 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. See note 30 for further information on risks and uncertainties facing Experian.

Company website

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 the world’s leading global information services company. During life’s big moments – from buying a home or a car, to sending a child to college, to growing a business by connecting with new customers – we empower consumers and our clients to manage their data with confidence. We help individuals to take financial control and access financial services, businesses to make smarter decisions and thrive, lenders to lend more responsibly, and organisations to prevent identity fraud and crime.

We have 22,000 people operating across 32 countries and every day we’re investing in new technologies, talented people, and innovation to help all our clients maximise every opportunity. With corporate headquarters in Dublin, Ireland, we are listed on the London Stock Exchange (EXPN) and are a constituent of the FTSE 100 Index.

Learn more at www.experianplc.com or visit our global content hub at our global news blog for the latest news and insights from the Group.