Preliminary results for the year ended 31 March 2015

12 May 2015 ─Experian, the global information services company, today issues its full year financial results for the twelve months ended 31 March 2015.

General highlights

• A positive finish for the year, returning to organic revenue growth in Q4, and we are executing well against our five key strategic priorities.
• Our strong performance in North America Credit Services reflects the better environment for lending as well as particularly good results from business information, automotive and health.
• Encouraging progress in repositioning our consumer offer in the US with Experian.com.
• In the UK and Ireland we grew across all business areas and our Brazilian business outperformed a weak macroeconomic backdrop.
• Strong cash outcome, while investing for growth and increasing returns to shareholders.
• Total revenue growth from continuing activities was 3% at constant exchange rates, with organic revenue up 1%. At actual exchange rates, total revenue from continuing activities rose 1% reflecting adverse foreign exchange movements.
• Benchmark profit before tax was US$1,231m, up 4% at constant exchange rates, unchanged at actual rates. Profit before tax of US$1,006m (2014: US$1,049m).
• Benchmark EPS was 95.2 US cents, up 8% at constant exchange rates and 4% at actual rates. Basic EPS of 76.9 US cents (2014: 76.1 US cents).
• Strong operating cash flow with 104% conversion of EBIT into operating cash flow. Net debt reduced by US$592m, with net debt to EBITDA now 1.9 times (2014: 2.27 times).
• Second interim dividend of 27.00 US cents per ordinary share to give full year dividend of 39.25 US cents per share, up 5%. Expressed in sterling, the full year dividend increase is 16%. Our US$600m share repurchase programme is also underway.

Financial highlights

• Total EBIT from continuing activities rose 4% at constant exchange rates. At actual exchange rates, total EBIT was unchanged year-on-year at US$1,306m. EBIT margin from continuing activities was 27.2%, up 10 basis points before the impact of foreign exchange movements, down 20 basis points year-on-year.

Brian Cassin, Chief Executive Officer, commented:

“We have accomplished a lot in what has been an important year of transition for Experian. We delivered strong growth across many parts of the business, have made further progress with earnings and are increasing returns to shareholders. We finished the year well, with organic growth improving as we exited the year. We are also executing well on the five strategic priorities we outlined earlier this year. Regionally, we saw particularly good performances from our operations in North America Credit Services, UK and Ireland, Asia Pacific and Brazil where we continue to outperform a weak economy.”

“As we look ahead, we will continue to execute on our plans to achieve our medium-term goals of mid single-digit organic revenue growth and strong growth in Benchmark earnings per share. In the coming year, we expect organic revenue growth to progress as we focus on our growth initiatives and as we continue to transform North America Consumer Services. While foreign exchange is a headwind, at constant currency we expect margins for the year to be stable and to deliver further progress in Benchmark earnings per share.”

Contacts

There will be a presentation today at 9.30am (UK time) to analysts and investors at the Bank of America Merrill Lynch Financial Centre, 2 King Edward Street, London, EC1A 1HQ. The presentation can be viewed live via the link from the Experian website at www.experianplc.com and can also be accessed live via a dial-in facility on +44 (0)20 3037 9164. The supporting slides and an indexed replay will be available on the website later in the day.

Experian will update on first quarter trading on 16 July 2015.

See Appendix 1 and note 4 to the financial statements for definitions of non-GAAP measures used throughout this announcement.

Roundings

Certain financial data have 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 page 15 and note 26 to the financial statements for 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

We are the leading global information services company, providing data and analytical tools to our clients around the world. We help businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. We also help people to check their credit report and credit score, and protect against identity theft.  In 2014, we were named by Forbes magazine as one of the ‘World’s Most Innovative Companies’.

We employ approximately 17,000 people in 39 countries and our corporate headquarters are in Dublin, Ireland, with operational headquarters in Nottingham, UK; California, US; and São Paulo, Brazil.

Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended March 31, 2015, was US$4.8 billion.

To find out more about our company, please visit http://www.experianplc.com or watch our documentary, ‘Inside Experian’.

View the full press release in the PDF format.