Paris : FIM

April 24, 2012 12:22 ET

FIMALAC : First Half 2011/2012 Revenue

PARIS--(Marketwire - Apr 24, 2012) -

I) Fitch first-half revenue

Following the sale of a 10% interest in Fitch Group to Hearst on April 11, 2012, Fimalac's remaining 50% stake in the company is now accounted for by the equity method.

For information, Fitch Ratings reported revenue of EUR286.6 million ($379.7 million) in the first six months of fiscal 2012, compared with EUR263.8 million ($359.6 million) in the year-earlier period. This sustained growth in business represented an increase of 8.6% as reported and of 7.0% like-for-like (based on a comparable scope of consolidation and at constant exchange rates).

II) Consolidated revenue

Fimalac's consolidated revenue for the period reflects the new accounting treatment of the 50% stake in Fitch Group, whose revenue is no longer consolidated.

Based on the new configuration and after adjusting both periods for comparative purposes, consolidated revenue for the first six months of fiscal 2012 stood at EUR17.9 million, versus EUR14.0 million the year before. It primarily includes EUR15 million in interim revenue from Vega (entertainment venue management), compared with EUR11.7 million in the prior-year period, when the company was consolidated over five months.


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Source: FIMALAC via Thomson Reuters ONE [HUG#1605597]

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