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					GfK Capital Market Day 2010
Growth from Knowledge
Professor Dr. Klaus L. Wübbenhorst, CEO
GfK Group            GfK Capital Market Day 2010, Prof. Dr. Klaus L. Wübbenhorst   January 2009




            Agenda


            1   Market research industry: 10 years ago and today


            2   GfK Group: 10 years stock quoted


            3   Strategy and Management Board


            4   Expectations for the future world of research


            5   Appendix
GfK Group          GfK Capital Market Day 2010, Prof. Dr. Klaus L. Wübbenhorst   January 2009




            1   Market research industry: 10 years ago and today
GfK Group                              GfK Capital Market Day 2010, Prof. Dr. Klaus L. Wübbenhorst                           January 2009



Market research industry 1998 - 2008: dynamic growth market
                                                                                                                                            4

Percentage breakdown of sales by region in 1998                            Percentage breakdown of sales by region in 2008


                        5.5 0.6                                                               5.2 1.6
             11.8
                                                                                    14.0


                      Total sales                                                             Total sales
                      in US$ million            43.5                                          in US$ million       49.5
                      13,410                                                                  32,462


                                                                                     29.7
              38.6



                                  Sales in US$ million                                               Sales in US$ million

          Europe                                5,838                                Europe                       16,066

          North America                         5,180                               North America                  9,629
          Asia and the Pacific                  1,582                               Asia and the Pacific           4,538
          Latin America                           735                                Latin America                 1,700
          Other                                    75                                Other                           529

Source: Esomar industry reports
GfK Group                              GfK Capital Market Day 2010, Prof. Dr. Klaus L. Wübbenhorst                   January 2009



Top 20 market research countries: 1998 - 2008
                                                                                                                                    5
                                                                Sales 2008           Sales 1998      Sales growth
 2008        1998          Change            Country
                                                              in US$ million       in US$ million    2008 vs. 1998
    1.         1.        unchanged              USA                8,866                4,935             x1.8
    2.         2.        unchanged               UK                4,154                1,525            x2.7
    3.         3.        unchanged            Germany              3,334                1,326            x2.5
    4.         4.        unchanged             France              3,042                 906             x3.4
    5.         5.        unchanged             Japan               1,643                 894             x1.8
    6.         6.        unchanged              Italy               915                  415             x2.2
    7.         8.                 up           Spain                818                  274             x3.0
    8.        23.                 up           China                793                   62             x12.8
    9.        11.                 up          Canada                763                  245             x3.1
   10.         7.            down             Australia             727                  285             x2.6
   11.        10.            down              Brazil               689                  250             x2.8
   12.        12.        unchanged            Sweden                482                  233             x2.1
   13.         9.            down           Netherlands             477                  259             x1.8
   14.        13.            down              Mexico               455                  200             x2.3
   15.        28.                 up           Korea                425                   43             x9.9
   16.        32.             up              Russia                335                  40              x8.4
   17.        25.             up              Poland                277                  55              x5.0
   18.        15.            down            Belgium                226                  114             x2.0
   19.        14.            down           Switzerland             220                  117             x1.9
   20.        34.                 up            India               198                   38             x5.2

Source: ESOMAR industry reports
GfK Group                                GfK Capital Market Day 2010, Prof. Dr. Klaus L. Wübbenhorst                                          January 2009



Market research industry: types of clients and of research design
                                                                                                                                                             6



Proportion of spending by different types of clients                                         Proportion of spending on different types of research design



                                                                                                                       Other continuous 11%


Manufacturing 47%
                                                                 Business-to-business 4%
                                                                                                       Panel 23%                              Ad hoc 60%
                                                                    Wholesale and retail 4%
                                                                     Financial services 5%

Other 4%                                                                                           Omnibus 2%
                                                                   Utilities 7%
Research institute 3%                                                                              Other type of
Advertising agencies 3%                                                                            research 4%
                                                            Public sector 9%

                                   Media 14%




Source: Esomar Industry Report 2009, published September 2009, worldwide data as of 2008
GfK Group                             GfK Capital Market Day 2010, Prof. Dr. Klaus L. Wübbenhorst                        January 2009



Top 10 players 1998 - 2008: GfK improved from No. 8 to No. 4
                                                                                                                                        7
                                                                                                    Sales in US$ million
 Company Ranking 2008 (Ranking 1998)                                                                2008              1998
 1. (1.+7.) The Nielsen Company, USA
                                                                                                    4,382.2         1,977
    (AC Nielsen + Nielsen Media Research, USA + VNU, NL)

 2. (3.+4.) Kantar Group incl. TNS, UK1) (WPP, UK)                                                  3,491.2         1,375

 3. (2.) IMS Health, USA                                                                            2,301.9         1,084

 4. (8.) GfK Group, Germany                                                                         1,703.5           353

 5. (9.) Ipsos, France                                                                              1,337.8           226

 6. (n.s.) Synovate, UK (Aegis, UK)                                                                  939.4            n.s.

 7. (5.) Information Resources, USA                                                                  708.7            511
 8. (10.) Westat, USA                                                                                467.4            205
 9. (12.) Arbitron, USA                                                                              338.5            215
10. (17.) Intage, Japan                                                                              320.3            110

Total sales of Top 10 (Market share of Top 10)                                              15.0bn (49.3%) 5.9bn (48.9%)
Market share GfK Group                                                                                5.2%          2.9%

1) Like-for-like calculation; Source: Esomar industry reports
GfK Group                 GfK Capital Market Day 2010, Prof. Dr. Klaus L. Wübbenhorst                  January 2009



M&A: most relevant activities
                                                                                                                      8




1997                        2001                               2005                     2008
Taylor Nelson acquired      Acquisition of AC Nielsen          Acquisition of           WPP bought TNS
the Sofres Group            through VNU                        NOP World through GfK




  1999                         2003                          2006                       2009
  VNU took over Nielsen        TNS acquired NFO              Consortium of Private      IMS Health was
  Media Research               World Group                   Equity Investors took      acquired by Private
                                                             over VNU                   Equity Investors
GfK Group         GfK Capital Market Day 2010, Prof. Dr. Klaus L. Wübbenhorst   January 2009




            2   GfK Group: 10 years stock quoted
GfK Group                            GfK Capital Market Day 2010, Prof. Dr. Klaus L. Wübbenhorst                                                        January 2009



GfK: strong development 1998 - 2008
                                                                                                                                                                         10


Sales in EUR million1)                                                               Employees
                                                                                                                                                                  9692
                                                                                                                                                        9070
                                                                           1220
                                                                  1162
                                                         1112                                                                                  7903
                                                                                                                                      7515

                                                 937

                                                                                                                             5539
                                         669                                                                      4750

                                                                                                         4212
                             506

                    470
                                                                         316                    3676
           381                                                  290                    3266
   309                                         254     270                                                                                            1714     1746
                                   236                                                                                                       1628
                          192                                                                                             1502      1587
                 177                                                                                            1443
156      164                                                                        1328      1366     1345



 1998    1999     2000    2001      2004       2005    2006     2007     2008        1998      1999     2000     2001      2004      2005     2006     2007     2008


      Germany             Total                                                            Germany                Total




1) Up to 2001 figures according to HGB, from 2001 to 2004 figures according to US GAAP, since 2005 figures according to IFRS
GfK Group                             GfK Capital Market Day 2010, Prof. Dr. Klaus L. Wübbenhorst                  January 2009



1998 - 2008: significant improvement in growth and profitability
                                                                                                                                  11



                                                                        1998                        2008            Growth
                                                                in EUR million              in EUR million    2008 vs. 1998

Sales                                                                   309.2                       1,220.4            x3.9

Adjusted operating income                                                15.9                        158.7            x10.0

Income from ongoing business activities                                  17.0                        113.0             x6.6

Consolidated total income                                                10.7                         82.0             x7.7

Total assets                                                            168.3                       1,446.6            x8.6

Total equity                                                             51.8                        500.3             x9.7

Equity ratio in %                                                        30.8                         34.6

No. of employees at 31. December                                        3,266                        9,692             x3.0



1998 figures according to HGB, 2008 figures according to IFRS
GfK Group                           GfK Capital Market Day 2010, Prof. Dr. Klaus L. Wübbenhorst                       January 2009



1998 - 2008: development of a full service MR group
                                                                                                                                     12


                                                  1998 sales              Share of total         2008 sales   Share of total
                                              in EUR million                       in %      in EUR million            in %

Custom Research                                           162.7                    52.6              782.8             64.1

Retail and Technology                                       91.0                   29.4              304.1             24.9

Media                                                       40.5                   13.1              130.1             10.7

Other                                                       15.1                    4.9                3.5              0.3

Total                                                     309.3                     100            1,220.4              100




Figures from Management Information System – Rounding differences may occur
1998 figures according to HGB, 2008 figures according to IFRS
GfK Group                           GfK Capital Market Day 2010, Prof. Dr. Klaus L. Wübbenhorst                       January 2009



Expansion: from German MR leader to a leading global player
                                                                                                                                     13


                                                  1998 sales              Share of total         2008 sales   Share of total
                                              in EUR million                       in %      in EUR million            in %

Germany                                                   156.3                     50.5             316.1             25.9

Western Europe/Middle
                                                          127.4                     41.2             487.2             39.9
East/Africa
Central and Eastern
                                                              9.6                    3.1              87.2              7.1
Europe

North America                                      no offering                no offering            219.7             18.0

Latin America                                      no offering                no offering             35.5              2.9

Asia and the Pacific                                        16.0                     5.2              74.8              6.1

Total                                                     309.3                      100           1,220.4              100




Figures from Management Information System – Rounding differences may occur
1998 figures according to HGB, 2008 figures according to IFRS
GfK Group                                 GfK Capital Market Day 2010, Prof. Dr. Klaus L. Wübbenhorst                         January 2009



TOP 10 market research countries: GfK’s position
                                                                                                                                             14


Country                                      GfK Group                      Custom Research   Retail and Technology     Media


1. USA                                               7                                   6              1                 5

2. UK                                                3                                   3              1                 3

3. Germany                                           1                                   2              1                 1

4. France                                            4                                   3              1                 5

5. Japan                                            12                                  15              1             no offering

6. Italy                                             1                                   1              1                 1

7. Canada                                            6                                  10              2             no offering

8. Spain                                             3                                   3              1                 2

9. China                                             7                                  11              1             no offering

10. Australia                                        9                                  20              1             no offering




Source: Honomichl reports; ESOMAR industry reports; local industry tables; own estimations
GfK Group                  GfK Capital Market Day 2010, Prof. Dr. Klaus L. Wübbenhorst   January 2009



Clients: GfK serves customers worldwide
                                                                                                        15


Largest client with a sales share of 1.9%1)
Top 50 clients with a sales share of 35.9%1)


       AGF                                    LG Electronics
       Astra Zeneca                           Matsushita (Panasonic)
       Baiersdorf                             Merck Sharp & Dohme
       BMW                                    Nestlé
       British Telecom                        Nokia
       Coca Cola                              Novartis
       Daimler                                Procter & Gamble
       Henkel                                 Research in Motion
       Johnson & Johnson                      Sony
       Kraft Foods                            Unilever
                                              And others…


1) FY 2008
Sorted alphabetically
GfK Group         GfK Capital Market Day 2010, Prof. Dr. Klaus L. Wübbenhorst   January 2009




            3   Strategy and Management Board
GfK Group         GfK Capital Market Day 2010, Prof. Dr. Klaus L. Wübbenhorst   January 2010



Strategy: deliberated, decided, delivered
                                                                                               17


1995        Fit for Going Public
                    Hurdle rates
                    Core business
                    Acquisition of minorities




 2000       Triple Ten

                    10 per cent Margin
                    100 million Euro aEBIT
                    1,000 million Euro sales




2005        5 Star Initiative
GfK Group              GfK Capital Market Day 2010, Prof. Dr. Klaus L. Wübbenhorst         January 2010



 5 Star Initiative: present strategy
                                                                                                          18




        Fact-based Consultancy: consistent expansion of service offering to produce high quality,
        information-based ongoing advisory services for the top-level management of clients.


        TOP 3: Top 4 worldwide; in 10 out of the 20 largest markets among the top 3.

        Global Reach: Initiative to further expand network from the present level of more
        than 110 countries and to establish a presence in other countries.


        Full Service: Continue establishing GfK as a full service market research group.


        Excellent Financial Position:
        Sales: EUR 1.5 billion; Margin: 13-15%; Ratio of net debt to EBITDA: ~2.
GfK Group                GfK Capital Market Day 2010, Prof. Dr. Klaus L. Wübbenhorst                            January 2009



Management Board: global expertise
                                                                                                                               19




Professor Dr.    Pamela Knapp        Dr. Gérard           Petra               Debra A.         Wilhelm R.
Klaus L.         CFO and             Hermet               Heinlein            Pruent           Wessels
Wübbenhorst      Human               COO                  COO                 COO              COO
CEO              Resources
                 Director            Sector               Sector              Sector           Sector   Sector
                                     Retail and           Custom              Custom           Custom   Media
                                     Technology           Research            Research         Research


29 year career   23 year career     32 year career      26 year career        22 year career   32 year career
18 years GfK     from 11/2009 GfK   26 years GfK        25 years GfK           4 years GfK     32 years GfK
GfK Group          GfK Capital Market Day 2010, Prof. Dr. Klaus L. Wübbenhorst   January 2009




            4   Expectations for the future world of research
GfK Group                GfK Capital Market Day 2010, Prof. Dr. Klaus L. Wübbenhorst   January 2009



Market research landscape: competitive environment (I)
                                                                                                      21


Changing client needs

    Clients re-evaluating their spending patterns

    Clients experimenting with new sources of information
    (e.g. free survey sites, web analytics tools)

Changing skill sets

    Research agencies come across other organizations that, beforehand,
    were not considered to be competitors (e.g. management consultancies)

    Players with origins outside research entering territory that was
    traditionally occupied by market research agencies

Technological developments

    New sources of information and new research methods
    (e.g. e-ethnography, mobile phone research)

    Market researcher expand their services or create niches
GfK Group                GfK Capital Market Day 2010, Prof. Dr. Klaus L. Wübbenhorst    January 2009



Market research landscape: competitive environment (II)
                                                                                                       22


New players

    Players outside of market research use their brand awareness to enter
    the research market with rival offerings

    Trends watchers and internet services

Consolidation

    Research brands acquired and integrated into internet and media companies

    Research groups acquiring or investing in bolt-on companies such as neuro-
    marketers or data analytics providers (offerings outside of traditional research)

New and emerging markets

    New market research companies from Asia and the Pacific, Latin America and
    Middle East stimulate the industry with new methods and new techniques
GfK Group   GfK Capital Market Day 2010, Prof. Dr. Klaus L. Wübbenhorst   January 2009




                                          GfK
                                           In
                                          2015
GfK Group        GfK Capital Market Day 2010, Prof. Dr. Klaus L. Wübbenhorst                 January 2009



 2015: expectations for the future world of research
                                                                                                            24


             Social Media
                Unique portal of market insights - global web of conversations
                In 2015 interactive Media spend will account for over a fifth of all advertising spend
                Online communities for deeper insights

             Mobility
                Virtual, physical, labor migration and travel-based mobility

             Attitudinal changes
                Consumers more aware of the value of their data and less inclined to participate
                Growth in sense of community, environment, social networks and belonging are
                cultural shifts that are leveraged in recruitment

             Clients
                Competition is not traditional anymore
                Managing clients in 2015 is a whole new arena (Knowledge Manager, pricing,
                integration, enhance KAM)
                Rapid globalization is a major factor
GfK Capital Market Day 2010
Growth from Knowledge
Professor Dr. Klaus L. Wübbenhorst, CEO
GfK Group        GfK Capital Market Day 2010, Prof. Dr. Klaus L. Wübbenhorst   January 2009




                                                                                              26




            4   Appendix
GfK Group                          GfK Capital Market Day 2010, Prof. Dr. Klaus L. Wübbenhorst      January 2009



Provisional key dates in the financial calendar
                                                                                                                   27




        February 25, 2010                                 Preliminary Result 2009
        March 31, 2010                                    Annual Accounts Press Conference
        March 31, 2010                                    Analysts‘ Conference
        May 12, 2010                                      Quarterly Report as of March 311)
        May 19, 2010                                      Annual General Meeting, Germany, Fuerth
        August 16, 2009                                   Half Year Report as of June 301)
        November 15, 2009                                 Nine Month Report as of September 301)




1) Publication is scheduled for before the start of the trading session in Germany
GfK Group                          GfK Capital Market Day 2010, Prof. Dr. Klaus L. Wübbenhorst                                                          January 2009



Disclaimer
                                                                                                                                                                       28




      This presentation constitutes neither an offer nor recommendation to subscribe or buy in any other way securities of GfK SE or any of the
      companies that are members of the Group at present or in the future, nor does it form part of such an offer and it should not be understood
      as such. The presentation or any part thereof should not form the basis for a contract for the purchase or subscription of securities of GfK SE
      or any of the companies that are members of the Group or represent a guarantee in connection with such contract.
      All the information contained in this presentation has been established with care. Nevertheless, we cannot guarantee its reliability or
      completeness and the information contained herein should not be deemed as a guarantee in this respect.
      The information contained in this presentation may be supplemented, amended and updated. Certain statements made herein may express
      future expectations, which are based on current opinions and assumptions of the management and are subject to foreseeable and
      unforeseeable risks and uncertainties. Actual results, performance and events may differ considerably from the statements expressed in the
      present information, partly due to changing business or market conditions and to the growth prospects forecast by the management of GfK
      SE. These and other factors may have an unfavorable impact on the results and financial consequences described in this presentation. GfK SE
      does not undertake to update or revise statements on future developments, on the basis of new information, future events or for other
      reasons. You should not rely on statements made about future developments, which simply express expectations as of the date of this
      presentation.
      This document does not constitute an offer of sale of securities in the United States of America. Securities may not be
      offered or sold in the United States of America without registration or exemption from registration in accordance with the
      U.S. Securities‘ Act of 1933 in its currently valid form.
GfK Group               GfK Capital Market Day 2010, Prof. Dr. Klaus L. Wübbenhorst   January 2009




                                                                                                     29




  Additional information:
  Corporate Communications
  Nordwestring 101
  90419 Nuremberg/Germany
  Fon +49 911 395-2012
  Fax +49 911 395-4075
  eMail: investor.relations@gfk.com
  www.gfk.com




GfK Capital Market Day 2010
Growth from Knowledge
Professor Dr. Klaus L. Wübbenhorst, CEO

				
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