GfK Gruppe

euro adhoc: GfK AG
Earnings Forecast
GfK exceeds forecast

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GfK is set to clearly exceed operating income forecast for the year

The GfK Group performed exceptionally well in financial year 2005. On the basis of the preliminary key indicators currently available, the Group achieved an increase of more than 39% in sales from 671.7 million euros to 935.0 million euros. EBIT after income from participations was up by around 41.2% from 91.1 million euros in 2004 to 128.6 million euros. This means that, based on current data, GfK will exceed its forecast of sales "in excess of 900 million euros" by around 4.0%. EBIT after income from participations is set to exceed the forecast of "more than 112.5 euros" by around 14.0%. Accordingly, the margin will be 13.7% as opposed to the expected 12.5%. The results take into account integration costs relating to NOP World amounting to almost 16 million euros.

Accounting standards switched from US GAAP to IFRS

As announced, the GfK Group will publish its financial statements in accordance with the IFRS accounting principles from 2005 onwards. Unlike US GAAP accounting, which has been used to date, under IFRS, various items are charged to expenses. These impact on the result of 128.6 million euros as follows: According to IFRS, intangible assets are valued differently under the purchase price allocation method. This results in amortization of 16.8 million euros. IFRS also specifies the obligation to report expenses for employee stock options in the income statement. For the 2005 financial statements, this produces expenses amounting to 2.3 million euros. Exchange differences resulting from foreign currency liabilities are not taken into account. This results in expenses totaling 5.5 million euros. EBIT including income from participations according to IFRS, excluding the above items, amounts to around 104.0 million euros. As scheduled, the GfK Group will publish the full preliminary results on February 28, 2006.

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ots Originaltext: GfK Gruppe
Im Internet recherchierbar:

Further inquiry note:
Bernhard Wolf
Tel.: +49 (0) 911 395 2012

Branche: Market research
ISIN:      DE0005875306
WKN:        587530
Index:    SDAX
Börsen:  Frankfurter Wertpapierbörse / official dealing/prime standard

Weitere Meldungen: GfK Gruppe

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