FIMALAC
Paris : FIM

January 26, 2012 12:27 ET

FIMALAC : First Quater Fiscal 2012 Financial Information

PARIS, FRANCE--(Marketwire - Jan 26, 2012) -


                             FIRST-QUARTER REVENUE:
                              UP 5.8% AS REPORTED
                             UP 6.6% LIKE-FOR-LIKE

I) FIRST QUARTER FISCAL 2012 REVENUE

Fimalac's consolidated revenue for the first quarter of fiscal 2012 (October 1 to December 31, 2011) amounted to EUR143.7 million, representing an increase of 5.8% on a reported basis.

Excluding the currency effect and the change in scope of consolidation (integration of Vega in November 2010), like-for-like growth stood at 6.6%.

--------------------------------------------------------------------------
                     October-December October-December % Change   % Change
(in EUR millions)      2010             2011          (reported) (like-for-
                                                                    like)*
--------------------------------------------------------------------------

Fitch   Ratings
(of which Fitch
 Solutions)              130.3            135.7         + 4.1%   +   6.6%


Other                      5.5              8.0            N/A    + 14.3%


                    ------------------------------------------------------

                                                 +----------+-------------+
Consolidated revenue     135.8            143.7        |+ 5.8%    |+  6.6%
                                                 +----------+-------------+

--------------------------------------------------------------------------

* At constant exchange rates and excluding material changes in scope of consolidation

Fitch Ratings reported revenue of EUR135.7 million ($181.5 million) for the first quarter of fiscal 2012, compared with EUR130.3 million ($172.4 million) for the year-earlier period. Revenue was up by 4.1% on a reported basis and 6.6% like- for-like. All the major regions showed growth, with the exception of Europe.

Fimalac's consolidated revenue also mainly includes EUR7.8 million in first- quarter revenue from Vega, which was acquired in November 2010.


II) OTHER INFORMATION

1) Sale of Algorithmics

Fitch Group sold Algorithmics on 20 October 2011 for $380.2 million. At Fimalac's level, the gain on the sale is estimated at around EUR85 million after tax and will be included in Fimalac's consolidated profit in fiscal 2012.

2) Annual Shareholders' Meeting

The Annual Shareholders' Meeting called to approve the financial statements for fiscal 2011 (ended September 30, 2011) will be held on February 14, 2012. During the meeting, shareholders will be asked to approve a dividend per share of EUR1.50, payable from February 20, 2012. The ex-dividend date will be February 15, 2012.

Shareholders will also be asked to approve a resolution to move the end of the fiscal year from September 30 to December 31 so as to better reflect changes in the Group's scope of consolidation.

CA1t1112A: http://hugin.info/143461/R/1580442/493453.pdf

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Source: FIMALAC via Thomson Reuters ONE

[HUG#1580442]

Contact Information

  • Contact:
    Jean-Philippe Laval
    +33 1 47 53 61 81