GS1 year in review
GS1 year in review
2023 is a very special year for GS1 as we are celebrating our 50th anniversary. Our digital journey started in 1973 when industry leaders agreed to use the GS1 barcode as a single standard for product identification. This created a revolution, transforming the way we work and live.
GS1 identification standards have provided great efficiencies across supply chains in more than 25 industries, across 150 countries. We serve over 2 million companies globally, more than 1 billion products have a GS1 barcode, and our barcodes are scanned over 10 billion times each day.
Today, we stand at the beginning of another revolution. With our next generation barcodes, QR codes and DataMatrix powered by GS1 and our global registries for product and location IDs, we have the potential to transform the next 50 years, improving consumer engagement and patient safety, enabling supply chain visibility and traceability, and supporting a more sustainable and circular economy.
We invite you to discover the new GS1 Year in Review 2022-2023 (previously ‘annual report’), where we will illustrate the past year’s work through real-world examples: showing how industry members across key sectors and government get the most value of implementing GS1 standards and services.
We thank our global community of members and the 116 dedicated GS1 Member Organisations for these invaluable achievements. Together, let's continue transforming tomorrow!
Highlights
A few real-world deployments
View our key achievements this year that partner GS1 standards and technologies to help businesses thrive. Through compelling case studies, we are putting the spotlight on real-world examples of how GS1 standards and services have catalysed change across various industries and geographies.
Smartphone camera offers traceability info and more about Australian citrus fruit
Consumers, farmers and supply chain partners all benefit from this simple, pragmatic solution
Bol.com depends on GS1 standards to keep both sellers & consumers happy
By uniquely identifying every item, this Benelux webshop maintains smooth, efficient operations
Johnson & Johnson Supply Chain find a better method than paper inserts and leaflets
Easy-to-use app enables patients in Singapore to get up-to-date information about their meds
Johnson & Johnson Supply Chain benefits from having a single source of product data
One global, validated and up-to-date list of product data fosters confidence and saves time
China’s customs clearance processes are more efficient and accurate
Standards help expedite declarations, minimise errors, improve compliance & watch for counterfeits
Mars Wrigley has near 100% product data accuracy thanks to data quality initiatives
A belief that data is a true asset helps protect the reputations of their well-known global brands
7-Eleven Thailand boosts consumer safety and satisfaction
Simple & efficient operations, better stock management and nothing sold after its best-before date
Zhejiang Province, China improves food safety and increases supply chain efficiency
Traceability & transparency for businesses, fast & easy access to information for consumers
Nigeria finds the way to know exactly which batches of vaccines are where
Covid shots successfully tracked in first pilot test of pharmaceutical traceability plan
Major UK healthcare provider can now track & trace medical supplies
Purchase to usage inventory management system boosts efficiency & safety, cuts waste & costs
See how GS1 can make a difference for you. Each GS1 Member Organisation offers local resources and support.
Contact GS1 around the world
Available in over 116 GS1 Member Organisations globally
A word from our Chair
Together, let’s shape the future, unlock GS1’s full potential, and seize the opportunities ahead. At GS1, we believe in transforming tomorrow, today.
Kathryn E. Wengel
GS1 Global Board Chair; Executive Vice President, Chief Technical Operations & Risk Officer, Johnson & Johnson
GS1 Global governance
GS1 Management Board
Meet the leaders on this Board >
GS1 GDSN Board
Meet the leaders on this Board >
GS1 Innovation Board and EPCglobal Board of Governors
Meet the leaders on this Board >
Leadership and governance
GS1 Global Leadership team (from left to right): Robert Beideman - Chief Product Officer; Stéphanie van Rossum - Head of Marketing; Renaud de Barbuat - President & Chief Executive Officer; Robyn Burke - Vice President Human Resources; Bart Adam - Chief Financial and Administration Officer; and Marianne Timmons - President Community Engagement
GS1 has transformed the way we work and live—and that’s because the culture at GS1 is one of collaboration, exchange and friendship. This year GS1 spoke with one voice everywhere around the world, with a beautiful global campaign to celebrate 50 years of the barcode. And this is what this organisation has always been about since its inception: seeing one vision, speaking with one voice and acting as one organisation.
Timothy P. Smucker
Chairman Emeritus, The J.M. Smucker Company;
Chair Emeritus, GS1 Management Board
Global Office Financial Statements
Global revenues
GS1 Member Organisations (MOs) around the world are funded by their local members through annual membership fees and sales of services. MO revenues for calendar year (CY) 2022, as measured in local currency, increased by +4.5% vs. 2021. All regions show positive growth (see chart “Growth CY2022 vs. CY2021”). When measured in euros, the growth was positively impacted by exchange rate fluctuations and amounted to +4.8%.
Risks on results
We have been facing historically high inflation on our costs, not only in payroll but also in discretionary and fixed and recurring expenses. This impacted FY 2021-22 results and continued to impact us in FY 2022-23. We have also been impacted by adverse exchange rates, as the US Dollar strengthened significantly versus the Euro; one EUR was worth one USD as from the end of FY 2021-22 and remained in similar range in the first half FY 2022-23.
Revenue evolution
GS1 Global Office (GS1 GO) main revenues are the membership fees from its Member Organisations. These fees are calculated based on the revenues of the MOs during the previous calendar year (CY). GS1 GO revenues for the FY 2022-23, including MO fees based on the MO revenues in CY 2021, amounted to €38.4M, an increase of €2.9M or +8.3% versus the year before. The 2023-24 budget foresees an increase in GS1 GO revenues of €1.1M reaching €39.5M, which reflects the growth in MO revenues in CY 2022, among others
Income statement and headcount
For 2022-23, GS1 Global Office shows a negative result of €1.8M compared to the budgeted loss of €4.3M, a positive variance of €2.5M. Higher revenues (net of bad debts) contribute €0.9M; mostly from higher MO revenues than budgeted and new members from the healthcare sector. Operating expenses are €1.6M lower than budgeted. Cost savings were achieved by a diligent management of our expenses. Despite important negative impact from the exceptionally high inflation and the adverse USD/EUR exchange rates, operating expenses increased only by €0.3M or 0.7%, versus the year before.
Both GS1 Central Office base business and GS1 GDSN Inc. ended the year better than their 2022-23 budget commitments.
As planned, after 3 years of investments in our digital transformation, funded by GO reserves and loans from a group of Member Organisations, our 3-year plan for 2023-2026 foresees that GO will operate with a reduced budget, compatible with the forecasted revenues of the federation and the repayment of the loans granted by some MOs. FY 2023-24 is a pivotal year where the GO will focus on our core business and on deployment programmes. Consequently, the 2023-24 budget, as approved by the General Assembly in May 2023, forecasts a break-even budget, with a positive net cash of €11K.
In terms of expense categories, our main investment remains our people, representing 62% of our operating expenses, with 111 staff members at the end of June 2023. The 2023-24 budget plans for a Global Office headcount of 106 positions, in line with our planning.
Key financial statistics
Global revenues
GS1 Member Organisations (MOs) around the world are funded by their local members through annual membership fees and sales of services. MO revenues for calendar year (CY) 2022, as measured in local currency, increased by +4.5% vs. 2021. All regions show positive growth (see chart “Growth CY2022 vs. CY2021”). When measured in euros, the growth was positively impacted by exchange rate fluctuations and amounted to +4.8%.
Inflation and exchange rate
Risks on results
We have been facing historically high inflation on our costs, not only in payroll but also in discretionary and fixed and recurring expenses. This impacted FY 2021-22 results and continued to impact us in FY 2022-23. We have also been impacted by adverse exchange rates, as the US Dollar strengthened significantly versus the Euro; one EUR was worth one USD as from the end of FY 2021-22 and remained in similar range in the first half FY 2022-23.
Revenue evolution
Revenue evolution
GS1 Global Office (GS1 GO) main revenues are the membership fees from its Member Organisations. These fees are calculated based on the revenues of the MOs during the previous calendar year (CY). GS1 GO revenues for the FY 2022-23, including MO fees based on the MO revenues in CY 2021, amounted to €38.4M, an increase of €2.9M or +8.3% versus the year before. The 2023-24 budget foresees an increase in GS1 GO revenues of €1.1M reaching €39.5M, which reflects the growth in MO revenues in CY 2022, among others
Income statement and headcount
Income statement and headcount
For 2022-23, GS1 Global Office shows a negative result of €1.8M compared to the budgeted loss of €4.3M, a positive variance of €2.5M. Higher revenues (net of bad debts) contribute €0.9M; mostly from higher MO revenues than budgeted and new members from the healthcare sector. Operating expenses are €1.6M lower than budgeted. Cost savings were achieved by a diligent management of our expenses. Despite important negative impact from the exceptionally high inflation and the adverse USD/EUR exchange rates, operating expenses increased only by €0.3M or 0.7%, versus the year before.
Both GS1 Central Office base business and GS1 GDSN Inc. ended the year better than their 2022-23 budget commitments.
As planned, after 3 years of investments in our digital transformation, funded by GO reserves and loans from a group of Member Organisations, our 3-year plan for 2023-2026 foresees that GO will operate with a reduced budget, compatible with the forecasted revenues of the federation and the repayment of the loans granted by some MOs. FY 2023-24 is a pivotal year where the GO will focus on our core business and on deployment programmes. Consequently, the 2023-24 budget, as approved by the General Assembly in May 2023, forecasts a break-even budget, with a positive net cash of €11K.
In terms of expense categories, our main investment remains our people, representing 62% of our operating expenses, with 111 staff members at the end of June 2023. The 2023-24 budget plans for a Global Office headcount of 106 positions, in line with our planning.
