GfK SE / Key word(s): Half Year Results/Change in Forecast
05.08.2016 00:09

Disclosure of an inside information according to Article 17 MAR, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

---

Ad hoc notification
In accordance with Section 17 MAR

GfK adjusts guidance for 2016

Nuremberg, August 4th, 2016 - GfK's results for the first six months are below prior year's financials for the same reporting period. Preliminary organic sales growth is at -1.5%, the AOI margin (adjusted operating income in relation to sales) down from 9.5% to 8.2%. Therefore it is no longer likely that sales growth of the Group will outperform the market and that the AOI margin will considerably improve as compared to the prior year.
In the first half year of 2016, sales in the Consumer Experiences sector fell short of the Company's expectations as a result of weak order intake in traditional research areas. Resource and cost reduction actions could not fully off-set the resulting AOI decline. Due to this development and a reduced outlook for the Consumer Experiences sector, GfK will book a goodwill impairment of approximately Euro 139 million in the second quarter.

The Consumer Choices sector had strong organic growth driven both by Point of Sales Measurement and Media Measurement. Margin was under pressure due to delays in a number of growth initiatives in these two areas. Provisions were taken for potential risks. In addition, the sector margin was impacted by the poor performance of the crop protection and animal health business which was divested at the end of April.
The Company adjusts its guidance for the year. While the Company will continue to aggressively drive its transformation initiatives and will do its utmost to improve results, it is possible that sales growth will remain below market and that the margin will be below prior year's level. This will depend on the development of the order intake in the Consumer Experiences sector and the progress of the growth initiatives in the Consumer Choices sector.

As previously announced, the half-year report will be published on August 12, 2016.

Contact:
Investor Relations
Bernhard Wolf
bernhard.wolf@gfk.com
T+49 911 395 2012

Note: 'Adjusted operating incomce (AOI)' is not a financial term according to IFRS. Information regarding the calculation of the AOI can be found in the Annual Report 2015 of GfK SE from p. 53.


05.08.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

---

 
Language:     English
Company:      GfK SE
              Nordwestring 101
              90419 Nürnberg
              Germany
Phone:        +49 (0)911 395-0
Fax:          +49 (0)911 395-2209
E-mail:       gfk@gfk.com
Internet:     www.gfk.com
ISIN:         DE0005875306
WKN:          587530
Indices:      SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange  
End of Announcement DGAP News-Service  

---