The Nielsen Company Q3 2009 Results

New York, USA – November 12, 2009 – The Nielsen Company B.V., a leading global information and media company, today announced its financial results for the three and nine months ended September 30, 2009.

Reported revenues for the three months ended September 30, 2009 were $1,250 million, a decrease of 1% over reported revenues for the three months ended September 30, 2008 of $1,260 million. Excluding the impact of currency fluctuations*, revenues for the three months increased 3%.

Reported operating loss for the three months ended September 30, 2009 was $393 million compared to operating income of $124 million for the three months ended September 30, 2008. These results were negatively impacted by a non-cash charge related to the impairment of goodwill and intangible assets of $582 million and the impact of fluctuations in foreign currency exchange rates, partly offset by lower restructuring. Adjusting for these items, operating income, on a constant currency basis*, increased 16%.

Reported revenues for the nine months ended September 30, 2009 were $3,610 million, a decrease of 4% over reported revenues for the nine months ended September 30, 2008 of $3,778 million. Excluding the impact of currency fluctuations*, revenues for the nine months increased 2%.

Reported operating loss for the nine months ended September 30, 2009 was $100 million compared to operating income of $408 million for the nine months ended September 30, 2008. The 2009 results included a non-cash charge related to the impairment of goodwill and intangible assets of $582 million as well as $9 million of charges relating to restructuring costs. The 2008 results included $62 million of charges relating to restructuring costs. Adjusting for these items, operating income, on a constant currency basis*, increased 12%.

Covenant earnings before interest, taxes, depreciation and amortization and other adjustments permitted under our senior secured credit facilities (“Covenant EBITDA”) was $1,311 million for the twelve month period ended September 30, 2009. Covenant EBITDA is a non – GAAP measure. See “Covenant EBITDA” below for a reconciliation of Loss from continuing operations of $1,028 million for the twelve months ended September 30, 2009 to Covenant EBITDA.

As of September 30, 2009, total debt was $8,745 million, and cash balances were $409 million. Capital expenditures were $204 million for the nine months ended September 30, 2009, compared with $253 million for the nine months ended September 30, 2008.

Source: The Nielsen Company