Aegis Media EMEA /
EMEA revenue increased 8.8% at reported rates and 7.9% at constant currency to £630.9m, and delivered organic revenue growth of 5.1%.
Our results in EMEA were driven by a new senior management team, appointed to lead and manage the region during the year. Our businesses in Russia, the UK, Turkey, the Nordics and across the Middle East and Africa performed particularly well. New business highlights across EMEA included winning the P&G account in Portugal, our first media appointment by that client in Europe, and winning BMW in Russia, Mattel in South Africa, MTN and Kraft in Nigeria, Gocompare in the UK, Findus in Italy and Red Bull in France and Switzerland.
While tough market conditions remain in the southern regions of Western Europe, our businesses there delivered relatively robust top line growth in 2011. Despite some challenges in France, we are making good progress in regaining momentum there, with some important new business wins so far in 2012.
Aegis Media Americas /
Our revenue in the Americas region increased 14.7% at reported rates and 17.6% at constant currency to £217.3m, and delivered organic revenue growth of 17.2%.
Following an excellent performance in 2010, our North American business consolidated its position in the market with an outstanding year in 2011, winning a number of major new clients, including The Home Depot, Disney Parks & Resorts, Target and Sears.
In January 2012, we were appointed by General Motors Co. (“GM”) as their global strategic media partner. The account carries an anticipated annual global media spend of $3 billion. Whilst the pitch process was a global effort, building on a strong performance by our European team for GM over the last five years, it was led by Carat US, who will be managing and co-ordinating the account.
The on-going impressive performance of the US business has transformed the scale of our business in the largest advertising market in the world. This ensures we are well placed to build on our position as the market leader in convergence and innovation.
Our Latin American business also delivered a strong performance, particularly through our Isobar business in Brazil. New business wins in the region included EA, Enel and Luxotica.
Aegis Media APAC /
Aegis Media APAC revenue increased 87.4% at reported rates and 81.7% at constant currency to £220.6m, and delivered organic revenue growth of 17.7%.
China was again the outstanding performer in the region. Australia, our other major business in APAC, also performed well and we successfully completed the integration of the Mitchell acquisition.
Our media businesses delivered a record new business performance across the APAC region and our digital businesses also won a number of significant new client assignments, including Kellogg’s digital creative business. In total, our network brands worked on over 200 new clients and client assignments across the region, including Wyeth in China, Woolworths in Australia, Panasonic in Malaysia and Clarins across the region.
Aztec /
Aztec, our retail data scan business which is managed and operated separately from Aegis Media, saw a strong recovery in its key markets in 2011, particularly in Australia. Aztec produced revenue of £66.2 million, up 22.1% at reported rates, 14.5% in constant currency, with organic revenue growth of 11.3%.
Aztec’s operating profit was £8.1 million, up 80.0% at reported rates and 72.3% at constant currency, with operating margin of 12.2%, up 390 basis points at reported rates and 410 basis points at constant currency.
Summary /
Aegis’s operational and financial performance continues to be driven by strong positive momentum throughout Aegis Media’s network brands and across key geographies, which is testament to the high quality of our people and the work they do for our clients. Our 2011 performance also highlights the benefits of Aegis Media’s unique integrated and specialist approach for our clients in what is a rapidly evolving media environment. This performance, buoyed by our outstanding new business achievements over the last 18 months, supports our optimistic view of the future prospects of our businesses.
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