Nielsen files for a $1.75 billion IPO
Three years of internal restructuring has improved Nielsen’s performance and prepared them for a $1.75 billion IPO.
Nielsen went public four years ago and brought on David Calhoun, previous GE vice chairman, to turn things around. The company filings credit Calhoun and his team for transforming the company:
Our financial performance has improved significantly between the year ended December 31, 2006 and the year ended December 31, 2009, with revenues increasing to $4.8 billion, a 5.7% compound annual growth rate on a constant currency basis; Adjusted EBITDA increasing to $1.3 billion, a 13.9% compound annual growth rate on a constant currency basis; and Adjusted EBITDA as a percentage of revenue increasing to 27.2% from 21.8%.
Concerns for investors is the heavy reliance on a small number of customers. Nielsen receives more than 25% of its revenue from its top 10 customers.
The good news is that this filing is a sign of the economic turn around. Things are starting to improve.
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