EMIS Presentation - Austin McKissock
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EMIS Presentation - Austin McKissock
- 1. EMIS: UNLOCKING THE POTENTIAL OF EMERGING MARKETS
- 2. EMERGING MARKETS ARE STILL THE GROWTH STORY OF THE 21ST CENTURY 2Source: IMF World Economic Outlook April 2015 0 10 20 30 40 50 60 70 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 Share of global GDP based on PPP Emerging markets Advanced economies
- 3. BUT THERE ARE OBSTACLES TO UNLOCKING THEIR POTENTIAL 3 Poor company reporting Language issues Loose and variable accounting standards Political and economic instability Local laws and business practices Infrastructure and labour challenges Weak legal and political institutions
- 4. EMIS is designed specifically to provide organisations with the information they need to succeed in emerging markets through a unique combination of company, industry and country intelligence. 4 Companies Industries Countries THE THREE PILLARS OF EMIS
- 5. A STRONG TRADITION AND STRUCTURE 5 For over 20 years, EMIS has supported businesses, governments and academic institutions in gaining an understanding of complex markets. Owned by Euromoney Institutional Investor plc, we are one of over 50 highly respected brands within the group.
- 6. A UNIQUE GLOBAL AND LOCAL APPROACH We provide a view on emerging markets from outside and within. □ Get the overarching view from the world’s best global data providers. □ Get an “in-country” perspective from local news sources and data owners. 6 We don’t just report on emerging markets – we operate in them as well. Poland Brazil Colombia Bulgaria India Malaysia Singapore China Philippines EMIS local offices
- 7. 7 THE EMIS ADVANTAGE COMPANY INTELLIGENCE
- 8. A UNIQUE AND POWERFUL DATABASE 8 EMIS has built a database with detailed information for 1.3 million private and listed companies Private company information in emerging markets is notoriously hard to obtain. Users are able to search and screen this database for companies that fit their target profile
- 9. BREAKING DOWN OBSTACLES TO INFORMATION 9
- 10. GOING ABOVE AND BEYOND IN INDIA 10 Obtaining large scale information on private companies in India is very difficult. We have overcome this barrier by researching each of the top 35,000 Indian companies based on share capital. We have now built a unique database of the top 25,000 Indian companies by revenue with financial information for the past two years.
- 11. GOING THE EXTRA MILE IN CHINA 11 In China, detailed financial information on domestic private companies is considered a “state secret”. Regardless, we have been able to build the “China Private Company Database” with information on over 300,000 Chinese private companies. While we can’t publish financials for these companies, EMIS customers can screen this vast array of Chinese companies by turnover and number of employees.
- 12. GOING TO GREAT LENGTHS IN LATIN AMERICA 12 Companies in many Latin American countries are not obliged to report their financial results. In Brazil, private companies publish their financial information through the local printed press. Our research team monitors the media for such postings and digitalises them into data that feeds into the EMIS database. We have built a database of over 30,000 Brazilian companies within EMIS – providing a window on to the country not available anywhere else.
- 13. CREATING OUR “GLOBAL STANDARD” 13 Colombia India South Africa PolandVietnam Mexico Chile Indonesia Russia Different countries have different reporting standards. This creates a challenge for anyone looking to make reasonable comparisons between company financials in multiple markets. EMIS publishes information both “as reported” in the local market but also applies a “Global Standard” that presents a common set of company accounts information across countries. This allows for easy comparison of data points such as assets and liabilities.
- 14. 14 THE EMIS ADVANTAGE INDUSTRY ANALYSIS
- 15. Energy Healthcare Finance Technology Retail Transport Mining Construction FMCGManufacturing Agriculture and many more… ALL SECTORS – FROM EVERY ANGLE Success in developing markets requires a deep understanding of the state of play in individual sectors. Holistic research is needed to truly understand opportunities and risks. EMIS offers deep and multi- faceted views of over 300 sectors in more than 150 countries.
- 16. ONE COUNTRY / MANY SECTORS 16 Benchmark sales in the food and textiles industries in India Compare assets in the mining and construction sectors in Russia ONE SECTOR / MANY COUNTRIES Compare opportunities in telecoms sector across major Latin American markets Assess the mining sector in Africa
- 17. THE BEST INDUSTRY EXPERTISE - CONVENED Global industry analysts, e.g. EIU, BMI, Technavio Local specialists, e.g. China Auto Analysis, Arabian Oil and Gas Industry statistics, e.g. Oxford Economics Government bureaux, e.g. Malaysian Investment Development Authority Banks and brokerage houses, e.g. Banco do Brasil
- 18. 18 THE EMIS ADVANTAGE COUNTRY ANALYSIS
- 19. A MACRO VIEW OF THE DEVELOPING WORLD 19 Track economic growth in Brazil Analyse trade in China Assess the labour market in Poland Monitor interest and exchange rates in Nigeria Get a complete macro picture for whichever emerging market is of interest to you
- 20. COMPARE AND CONTRAST 20 Organisations that are successful in emerging markets need to weigh up the pros and cons of different countries as business or investment destinations. EMIS offers the ability to analyse and compare markets easily across a whole range of factors. Strong economic growth Unfavourable demographics Good trade profile Deteriorating exchange rates Low inflation High political risk
- 21. QUALITY IS ASSURED We bring together the world’s most trusted providers of country intelligence and analysis on emerging markets. 21 + hundreds of other sources including banks, government institutions, consultancies and research institutes
- 22. 22 OUR CLIENTS
- 23. 23 HELPING THE WORLD’S LEADING ORGANISATIONS TO UNDERSTAND EMERGING MARKETS Our client list includes many of the world’s largest corporations … Top financial institutions …Leading consultancies …Major law firms …Government bodies …and respected academic institutions …
- 24. 24 HOW THEY USE EMIS Monitor their competitors Conduct credit analysis Identify potential acquisitions Develop their market entry strategy Evaluate strategic partnerships Track local developments Develop market Analyse sector trends Create growth projections Validate their investment decisions Identify sales opportunities Minimise their debt risk Analyse peer companies
- 25. THANK YOU. Austin McKissock 225 Park Ave South 6th Floor New York, NY 10003 Cell: 347-549-2667 amckissock@emis.com
- 26. Euromoney Thought Leadership | May 2015 26 THANK YOU. Austin McKissock 225 Park Ave South 6th Floor New York, NY 10003 Cell: 347-549-2667 amckissock@emis.com
Hinweis der Redaktion
- Welcome to EMIS. In this presentation I want to give you a sense of how we help organisations like you to take advantage of the opportunities that exist in developing countries around the world and how we have become the principal trusted partner of the world’s leading businesses and institutions when it comes to emerging markets.
- Before we discuss how EMIS can help you, it’s worth pointing out that emerging markets continue to be the growth story of the 21st century. The book value of the equity that Western firms have invested in the emerging world has risen by at least $3 trillion since 1998. This is a colossal sum, equivalent to 11% of the emerging markets’ combined GDP. Demographic trends continue to be favourable with the ongoing emergence of a more affluent middle class in these countries. Almost half of the global middle class now lives in Asia. China’s middle class population is nearly twice that of the United States. Africa’s middle class is almost as large as that of the US. McKinsey & Company call this growth in consumption “The biggest growth opportunity in the history of capitalism” as literally billions of people move up the economic ladder and consume more and better food, clothing, electronics, automobiles, etc. But it’s not just about demographic trends. Industrial modernisation, more skilled workforces and improving infrastructure all help to position these countries as attractive destinations for investment.
- But with high reward potential comes risk. There are numerous examples of companies struggling to adapt in growth markets. Walmart for example has struggled to meet its strategic objectives in China where local players have proved more adept at understanding the market. Similarly, Apple has struggled in some of its key developing markets due to increased competition and pricing pressure. US companies have recently taken large hits on their operations in Venezuela due to a currency crisis in the country. There are many factors that can derail your investment strategy in the developing world – the most common of which are listed here. But in general, problems occur when there is a lack of information for a particular country. This is when you need a combination of trusted analysis, reliable data and local reporting to give you the full picture.
- To address this issue of poor information in emerging markets, EMIS has constructed an intelligence service around the three things that you need to know about these countries: 1) Detailed profiles, financials and news for the companies that operate in these markets 2) Deep-level analysis of the state of play in the business sector of interest within a particular country 3) A top level macroeconomic view on a country and its future prospects
- EMIS is the only intelligence provider with a singular focus on emerging markets. We were established in the mid-1990s by a former KPMG executive who had worked as part of the economic reform team that assisted Russia on its transition to a market economy. Initially the service was focused on Eastern Europe but over the last 20 years the business has grown to cover more than 150 countries in all parts of the world. Today we have close to 300 employees based in both emerging and developed countries. We are part of the renowned Euromoney Institutional Investor group of companies.
- Unlike other intelligence providers. Most of our staff are actually based in emerging markets. This helps to give you an insider’s perspective on these countries using the relationships we have forged with local providers of news, analysis and data,
- As I mentioned, the EMIS service is structured around the three pillars of company, industry and country intelligence. The first we’ll look at is companies.
- One of the most difficult information gathering processes in emerging markets is company information. Central to the EMIS service is a database of 1.3 million companies that can be searched and screened according to your needs.
- Finding information on companies in developed markets is no easy task. Barriers are presented to research in different ways in nearly every company. Our view is that no barrier is insurmountable and we take every measure possible in acquiring data where others may give up. This involves us working closely with data owners in each country to get what we need, And when that’s not possible, we make the extra effort necessary…
- There is no list or ranking of the top private companies in India based on revenue or assets. The local providers of data do not have extensive private company databases. Their usual practice is to digitise information based on clients’ individual requests and they do not know the size of that company until they download the report and see the data. Working with one of our data providers, we were able to acquire a list of the top 35,000 Indian companies based on share capital. We researched each company to ensure that they met with our revenue criteria (>USD1m) and digitised their financial information. We have now built a unique database of the top 25,000 Indian companies by revenue with financial information for the past two years. And we continue to build that database with a further 2,000 companies still to be added.
- In China, detailed financial information on domestic private companies is considered a “state secret”. But organisations clearly need to know who the unlisted players are in this vital market. To address this need, we have built the “China Private Company Database” as part of the EMIS service. This is a database of over 300,000 Chinese private companies with profile information – location, number of employees, main products and key executives. We cannot publish financial information for the these companies but we do it hold it in our database. This means that EMIS customers can screen this vast array of Chinese companies by turnover as well as sector and number of employees.
- Companies in many Latin American countries are not obliged to report their financial results. This leads to frustration for organisations looking to research the region for business or investment opportunities. Listed companies in Brazil do publish their results but not in any readily accessible way. At EMIS we digitalise their data to make it searchable and comparable. For private Brazilian companies, the situation is more difficult. They tend to publish their financial information through the printed press. Our research team monitors the press for such postings and digitalise them into data that feeds into the EMIS database. Through this process we have built a database of over 30,000 Brazilian companies within EMIS – providing a window on to the country not available anywhere else. These are just a few examples of the extra lengths we go to acquire the company information you need – we don't know of anyone else who does this.
- Even when you have acquired the company information you need it’s not always easy to use it in a comparable way. Because different countries have different reporting standards, data is unlikely to be presented in a consistent fashion from one country to the next. At EMIS we have created what we call our “Global Standard”. This is a process whereby we standardise company financials in such a way to make them consistent and comparable across geographies. With EMIS you can look at company accounts “as reported” locally if you are only looking at companies in one country or you can use our Global Standard view if you need to compare companies across a range of countries.
- The second of the three EMIS pillars is industry analysis.
- Success for any organisation in emerging markets is predicated on a thorough understanding of prevailing market conditions in the sector in which they operate. They need to know recent sector developments, who are the key players and what they are doing, who is investing, what the outlook for the sector is and the size of the market. EMIS covers sectors from all angles, combining deep-level analysis and forecasts with statistics and news. And whatever the sector, we have it covered – over 300 in total from Iron Ore Mining to Software publishing.
- You might also need to look at the world in different ways on different occasions. With EMIS you can compare different sectors within countries to figure out which sector offers the greatest scope for investment, You can also look at one sector across any number of countries – working out which geography offers opportunity for investment or market entry.
- We’re able to do this because we bring together the very best authorities for industry information. We license industry analysis from renowned global analysts such as the EIU and BMI. We have arrangements to republish content from industry specialist publications such as Arab Oil and Gas and China Auto Analyst. We provide access to statistical specialists such as Oxford Economics. We republish official intelligence directly from government bodies and we also provide analysis direct from banks and brokerage houses. You will not find such a breadth of industry expertise across so many sectors anywhere else.
- The third and final pillar that constitutes EMIS is Country Analysis.
- The best laid plans often go awry through unforeseen events and emerging markets are particularly susceptible to economic and political volatility. Many companies have seen their investments diluted by poorer than expected consumer demand, rampant inflation or a slowdown in growth. EMIS give you the full economic picture, news on recent developments and risk profiles for each of the countries we cover.
- Comparability is at the heart of EMIS. We make it easy to weigh up dozens of factors that might have a bearing on decision-making. EMIS allows you compare economic, demographic and political factors within and across countries.
- We convene the cream of the world’s macroeconomic experts – from The EIU to BMI to Fitch. Our single platform means that you have your pick of the analysis in a few clicks.
- Here are just a few of the clients that rely in EMIS as their trusted partner in emerging markets. We have built long-term relationships with these customers. A critical part of the growth of our business and the reason that our customers come back to us time and again is that we consult with them on the information that they want and need. EMIS as a service is very much a result of collaboration between us and our clients.
- Our service is used in a multitude of ways by thousands or organisations. Here are some of the main ways in which our clients make use of the information we provide.
- Our service is used in a multitude of ways by thousands or organisations. Here are some of the main ways in which our clients make use of the information we provide.