NEW YORK: Edelman's global revenues, including currency fluctuations, for its 2009 fiscal year declined slightly to $446 million from more than $448 million in the prior year, the agency reported. That's a decrease of 0.4% from the year before, according to statistics provided by the agency.
The firm's organic global revenue, though, increased by 3.7%, moving from $443 million to $459.6 million. The private company, and largest independent PR firm, is not required to disclose its earnings, as the publicly traded holding companies do, but it provided PRWeek with a look at its latests numbers. Its most recent fiscal year ran from July 1, 2008, to June 30, 2009.
The agency's US revenue increased about 1% to $291.6 million from $288.5 million.
“We feel we performed strongly, considering what we were dealt with,” said Victor Malanga, CFO at Edelman. He also said digital was a strong area for the agency.
While Malanga noted the difficulty in predicting revenues for the coming year, he said that the agency envisions flat to “mid-single-digit growth” for its 2010 fiscal year, which ends June 30.
In PRWeek's Agency Business Report, issued in April, Edelman reported $450.6 million in global revenues and $287.5 million in US revenues for the 2008 calendar yea. That statistic is for the 2008 calendar year, not Edelman's fiscal year. For the 2007 calendar year, it had reported $402.6 million in global revenues and $262.9 in US revenues. The agency ranked as the top independent US firm for both years.
Outside of the US, actual revenues were harder hit while organic growth remained largely positive. Edelman's European business saw its actual revenues fall 4.6%, but organic revenues gained 9%. Similarly, its Latin America operations saw actual revenues fall 1.6%, and organic revenues gain 11.7%, while its Canada operations' revenues declined 4.3% year-over-year in actual revenues and gained 10.6% organically.
The Asia-Pacific region was the only one to show growth in both revenue categories for the agency's '09 fiscal year. Its actual revenue increased 0.2% to $40.35 million from $40.25 million, and its organic revenue grew 6% to $41.7 million from $39.3 million.