FIMALAC First Quater 2010/2011 revenueREVENUE: UP 20.2% AS REPORTED
UP 5.6% LIKE-FOR-LIKE
I) FIRST QUARTER FISCAL 2011 REVENUE
Fimalac's consolidated revenue for the first quarter of fiscal 2011 (October 1 to December 31, 2010) amounted to €169.3 million, representing an increase of 20.2% on a reported basis.
Excluding the currency effect, which was significant over the period, and the first-time consolidation of Vega, like-for-like growth stood at 5.6%.
| (in € millions) | October-December 2009 | October-December 2010 | Change (reported) | Change (like-for-like)* | |
| Fitch Ratings | 114.6 | 130.3 | + 13.7% | + 3.3% | |
| Algorithmics | 26.3 | 33.5 | + 27.4% | + 15.8% | |
| Fitch Group | 140.9 | 163.8 | + 16.3% | + 5.6% | |
| Others | __ | 5.5 | N/A | ||
| Consolidated revenue | 140.9 | 169.3 | + 20.2% | + 5.6% | |
*Based on a comparable scope of consolidation and at constant exchange rates
Fitch Ratings reported revenue of €130.3 million ($172.4 million) for the first quarter of fiscal 2011, compared with €114.6 million ($169.4 million) for the year-earlier period. This represented growth of 13.7% as reported and of 3.3% like-for-like, despite the high prior-year comparatives.
Algorithmics' first quarter revenue came to €33.5 million ($44.2 million) versus €26.3 million ($38.9 million) in the year-earlier period, up 27.4% as reported and 15.8% like-for-like.
Fimalac Développement, the Group's diversified investment platform, now consolidates Vega, France's leading operator of concert halls, sports venues and conference centers, which was acquired in early November.
II) OTHER INFORMATION
1) Stake acquired in Groupe Lucien Barrière
As announced on January 12, 2011 Fimalac Développement soon expects to acquire a 34% interest in Groupe Lucien Barrière from Accor. Following a reduction in Groupe Lucien Barrière's capital through the cancellation of treasury stock, Fimalac Développement will hold a 40% interest acquired for €186 million. The transaction is expected to close before the end of March.
2) Annual Shareholders' Meeting
The Annual Shareholders' Meeting called to approve the financial statements for fiscal 2010 (ended September 30) will be held on February 4, 2011. During the meeting, shareholders will be asked to approve a dividend per share of €1.50, payable from February 11, 2011. The ex-dividend date will be February 8.