Slow start to year sees Q1 income drop for GfK

The company said adjusted operating income was around €23m for the first quarter 2013 compared to €33.5m in Q1 2012 due to a weak start to the year.

Its Consumer Experience sector saw delays in orders at the beginning of the year, resulting in income for the first three months down from €7.9m in 2012 to €2.4m, while the delayed conclusion of major orders saw the Consumer Choices sector dropping by €4.2m to €23m.

However, sales as a whole were up by around one percent year-on-year to €348m, with Consumer Experience showing a slight increase of 0.6% to €207m, and Consumer Choice rising by 1.4% to around €140m.

The company said that despite the slow start business development in March was “considerably more positive”.

As a result, it added: “GfK confirms its annual targets and anticipates that the modest sales increase at the start of the year will be offset by significantly sharper growth in the subsequent quarters.”

Pictured: Matthias Hartmann CEO, GFK