Press releaseThe Fimalac Group's revenue for fiscal 2006/2007, covering the 12 months from October 1, 2006 to September 30, 2007, totaled €744.8 million, consisting entirely of Fitch Group revenue.
The currency effect was a negative €33.4 million, due mainly to the fall in the dollar against the euro. Changes in the scope of consolidation had a positive impact of €19.2 million, corresponding to the consolidation of Korea Ratings from April 2007. Adjusted for these effects, like-for-like revenue growth was as shown below:
| % change (reported) | % change | ||||
| (in € millions) | 2005/2006 | 2006/2007 | (like-for-like*) | ||
| Ratings | 534.3 | 632.3 | + 18.3% | + 21.4% | |
| Financial risk management | 99.4 | 105.1 | + 5.7% | + 14.1% | |
| Other (including intercompany eliminations) | (3.4) | 7.4 | |||
| Consolidated revenue | 630.3 | 744.8 | + 18.2% | + 20.4% | |
(*) At constant exchange rates and based on a comparable scope of consolidation
Excluding Korea Ratings, revenue generated by Fitch Ratings amounted to $827.4 million (€623.4 million) in fiscal 2006/2007, compared with $655.9 million (€534.3 million) the previous year. Revenue growth in dollars came to 26.1%. Based on comparable data and in euros, the increase was 21.4%.
Korea Ratings, which has been 53%-owned by Fitch Ratings since April 2007, contributed $25.6 million (€19.2 million) to consolidated revenue for the fiscal year, including $11.7 million (€8.9 million) reported under "Ratings".
Algorithmics reported revenue of $139.4 million (€105.1 million) versus $122.2 million (€99.4 million) the previous year, representing a like-for-like increase of 14.1%.