SOURCE: FIMALAC

October 26, 2006 12:14 ET

FIMALAC : Period ended september 30, 2006 revenue

PARIS -- (MARKET WIRE) -- October 26, 2006 -- PERIOD ENDED SEPTEMBER 30, 2006 REVENUE:

Up 19.4% on a reported basis

Up 17.0% like-for-like*

Fimalac's consolidated revenue for fiscal 2006 - consisting almost entirely of Fitch Group revenue - amounted to EUR 457.0 million versus EUR 382.7 million for the year-earlier period. Following the decision of the General Shareholders' Meeting to change the Company's year-end to September 30, fiscal 2006 covers a period of nine months and comparisons are therefore based on the first nine months of 2005.

+-------------------------+---------------+---------------+---------------+
|(In € millions)          |2005 (9 months)|2006 (9 months)|Reported change|
+-------------------------+---------------+---------------+---------------+
|Fitch Ratings            |          331.4|          388.8|        + 17.3%|
+-------------------------+---------------+---------------+---------------+
|Algorithmics             |           51.0|           67.9|        + 33.1%|
+-------------------------+---------------+---------------+---------------+
|Fitch Group              |          382.4|          456.7|        + 19.4%|
+-------------------------+---------------+---------------+---------------+
|Parent company           |            0.3|            0.3|               |
+-------------------------+---------------+---------------+---------------+
|Consolidated revenue     |          382.7|          457.0|        + 19.4%|
+-------------------------+---------------+---------------+---------------+
|Revenue - reported       |          382.7|          457.0|               |
+-------------------------+---------------+---------------+---------------+
|Currency effect          |               |          - 6.8|               |
+-------------------------+---------------+---------------+---------------+
|Changes in scope of      |               |          - 2.3|               |
|consolidation            |               |               |               |
+-------------------------+---------------+---------------+---------------+
|Revenue – like-for-like  |          382.7|          447.9|               |
+-------------------------+---------------+---------------+---------------+

+-------------------------+--------------------+
|(In € millions)          |Like-for-like change|
+-------------------------+--------------------+
|Fitch Ratings            |             + 15.7%|
+-------------------------+--------------------+
|Algorithmics             |             + 25.7%|
+-------------------------+--------------------+
|Fitch Group              |             + 17.0%|
+-------------------------+--------------------+
|Parent company           |                    |
+-------------------------+--------------------+
|Consolidated revenue     |             + 17.0%|
+-------------------------+--------------------+
|Revenue - reported       |                    |
+-------------------------+--------------------+
|Currency effect          |                    |
+-------------------------+--------------------+
|Changes in scope of      |                    |
|consolidation            |                    |
+-------------------------+--------------------+
|Revenue – like-for-like  |                    |
+-------------------------+--------------------+
Fitch Group revenue in euros amounted to EUR 456.7 million for fiscal 2006 compared with EUR 382.4 million for the first nine months of 2005.

Revenue in dollars, the Fitch Group's functional currency, came to $564.5 million versus $483.1 million.

__________

Fitch Ratings reported fiscal 2006 revenue of $480.5 million versus $418.6 million for the first nine months of 2005. Growth accelerated in the third quarter, lifting the increase over the nine-month period to 14.8% from 12.9% in the six months to June 30. This performance reflected very high levels of rating activity across all major industries and regions.

__________

Algorithmics' revenue for the nine months of fiscal 2006 totaled $84.0 million compared with $64.5 million for the eight-month period from the company's acquisition to end-September 2005 Demand for its financial risk management services was strong throughout the period and growth also accelerated in the third quarter.

*Based on a comparable scope of consolidation and constant exchange rates.

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