Comment from the CEO
Having joined Bisnode on 1 September, it is now my pleasure to present the first year-end report as CEO of Bisnode. As communicated in the Q3 2015 report we have in Q4 finalized the strategy process positioning ourselves as “pioneering Smart Data to enable our customers to make Smart Decisions. More on that later, but first some comments on the 2015 financials.
Looking back on 2015, the year ended on a positive note with fourth quarter revenue and operating profit better than prior year. All markets, except Belgium, increased their revenues in the last quarter compared to 2014. Although the quarter provided satisfactory result, the year as a whole was challenging in terms of top-line revenue growth. The profitability measures initiated in Q4 as a response to this, helped us to achieve a slight improvement of the underlying operating profit for the full year. Still, going in to 2016, we will continuously have to keep up this momentum, in order to meet the changing market dynamics lying ahead.
Customer needs versus growth
The European market is a downward sloping economy, putting even higher demands on companies to find growth. The companies then turn to Data & Analytics in order to find growth and new customers.
This means Bisnode’s market is everything but downward sloping. Customers’ needs for data and analytics is greater and more crucial than ever. In fact, Bisnode operates in a growing European market for data and analytics worth more than USD 7bn per year.
Bisnode has impressive strengths which connect well to the ambition of pioneering smart data. Bisnode’s core strengths are its proven track record in data, in analytics and predictive modeling and in integrations of customer deliveries.
- Data: we possess unique and high quality datasets with global width and local depth together with strong matching capabilities;
- Analytics: we have the ability to perform predictive analysis and scoring across all geographical markets and;
- Integrated: we are integrated with strong customerreach through real-time channels with customers with a strong customer
But Bisnode needs to be better positioned to capture that market growth. Today, we see a flat to declining trend in both turnover and profit for Bisnode. Fundamental transformation is therefore needed for Bisnode to strengthen both brand, organization and offering.
During this transition, we will take conscious decisions to phase out unprofitable products, restructure the organisation and operation and make investments in high growth products in order to increase our EBITA. We will for real create a One Bisnode, with common culture and processes and establish innovation as a part of our DNA.
Data is the new natural resource of our time, but it needs refining to create value and actionable insights. Our target state in 2018 is to become the most wanted partner within Data & Analytics, pioneering Smart Data to enable our customers to make Smart Decisions.
We have our direction set out and we are now putting strong focus on making the change happen during the transition year of 2016. As a consequence of this, I believe we will be much better positioned going into 2017. Now let’s execute!