Year-end report 2011

The year’s trend of strong growth in Credit Solutions but disappointing development in Marketing Solutions continued in the final quarter of 2011.


• Revenue of SEK 1,167 million (1,164) 
• Operating profit (EBITA) of SEK 106 million (160) 
• Operating margin (EBITA) of 9.1 per cent (13.8) 
• Cash flow from operating activities of SEK 138 million (230)


• Revenue of SEK 4,310 million (4,451) 
• Operating profit (EBITA) of SEK 447 million (536) 
• Operating margin (EBITA) of 10.4 per cent (12.0) 
• Cash flow from operating activities of SEK 360 million (464)

Key events

• Continued weak organic revenue growth of -2% (adjusted for foreign exchange effects)
• Sustained healthy growth and earnings trend in Credit Solutions. Very weak development for the companies Marketing Solutions and, as anticipated, lower sales of SPAR-related products
• Stable cash flow from operating activities
• Significant restructuring charges recognised in Q4
• Market positions in the Central Europe and Norway strengthened through acquisitions 
• Ongoing concentration of operations through the sale of Pointer in Sweden and Anopress in the Czech Republic 
• In December an agreement was signed for the sale of WLW in Germany, Switzerland and Austria, and the sale was completed in February 2012
• The Software & Applications business area was wound up as of 1 January 2012
• Lars Pettersson took over as the new President and CEO on 1 February 2012


Fredrik Åkerman, CFO
Telephone: +46 8-558 059 35
Mobile: +46 704-15 23 65


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