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“Bisnode operates in a fundamentally attractive and underpenetrated market with an ever-increasing need for business information and decision support.”
We are continuing to develop Bisnode, decisively and with a high tempo and determination. On 22 September we launched the next stage of a plan that is aimed at accelerating the transformation of Bisnode into a strategic partner of decision support to new and existing customers.
To optimise resource utilisation and secure investment in scalable product platforms, we have chosen to centralise our IT and product development functions. At the same time, we will retain geographical closeness to our approximately 170,000 customers throughout Europe. The combination of local customer understanding and common platforms is a fundamental component of our future strategy. We have also launched investments in strategic HR. Bisnode’s success will be built by dedicated employees, and we are now raising our ambition further to creating the best workplace for ambitious people who want to work at the leading edge of technology.
Most of Bisnode’s revenue and profit is generated in the Nordic region. To strengthen the focus on the Nordic countries, we have chosen to disband Region Nordic and instead allow the Nordic countries to report directly to the CEO.
Our deep and strategic partnership with D&B has continued to progress in the right direction. Bisnode is Europe’s largest partner to D&B and we are convinced that the modernisation and updating now taking place at D&B will benefit Bisnode and Bisnode’s customers.
On the whole, development in Q3 was as in line with expectations. Organic growth amounted to -1% and the underlying EBITA was 9%, compared to 12% for 2013.
The drop in earnings is mainly due to higher data costs. The quarter got off to a weak start but ended with a September that indicates a higher level of business activity and order intake.
In Sweden we are introducing a new go-to-market strategy that is designed to give all customers access to the full range of our offering in a more effective manner than before. Norway, Denmark and Finland are performing well and are the countries that have come furthest in their development.
We are seeing signs of stabilisation in Region DACH. After a couple of years of changes, we can now focus fully on customer and business development in Region DACH.
Region Central Europe continues to deliver healthy growth and profit.