CORRECTION: FIMALAC : Third Quarter 2011 Financial Information

25.07.2011 11:45:51 CET

This is a correction of the announcement from 18:00 22.07.2011 CEST. Reason for the correction:

NINE-MONTH REVENUE:                
                                 UP 11.9% LIKE-FOR-LIKE*
                                 UP 16.4% AS REPORTED

 

 

 

Fitch Ratings' revenue continued to grow strongly in the third quarter of fiscal 2011 (April 1 to June 30, 2011), gaining 14.4% like-for-like to €137.7 million ($197.7 million), compared with €127.5 million ($161.8 million) in third-quarter 2010.

 

After enjoying like-for-like growth of 21.3% in the first half, Algorithmics reported third quarter revenue of €30.8 million ($44.4 million), down 0.3% like-for-like from €33.6 million ($43.1 million) in the year-earlier period.

 

Fimalac's consolidated revenue amounted to €174.3 million in third-quarter fiscal 2011, up 11.4% like-for-like and 8.2% as reported from €161.1 million in third-quarter fiscal 2010.

 

 

 

(in € millions)		 October 2009 to
June 2010 		October 2010 to
June 2011 		% change
(reported)

 		   % change
(like-for-like)*

 
           
Fitch Ratings 357.5 401.5 + 12.3%   + 11.7%
Algorithmics 85.7 96.8 + 13.0%   + 12.8%
Fitch Group 443.2 498.3 + 12.4%   + 11.9%
           
Other __ 17.5 N/A   N/A

 

          

 

          

Consolidated revenue

 443.2 515.8 + 16.4%   + 11.9%
           

 

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

 

For the first nine months of fiscal 2011 (October 1, 2010 to June 30, 2011), Fitch Ratings' revenue came to $557.3 million, compared with $490.6 million in the prior-year period, representing a like-for-like increase of 11.7%. Algorithmics' revenue for the first nine months grew 12.8% like-for-like, amounting to $134.4 million versus $117.6 million in fiscal 2010.

 

Fimalac's consolidated revenue also includes €17.5 million in revenue from Vega, which was acquired in November 2010. For the first nine months, consolidated revenue rose by 11.9% like-for-like and by 16.4% as reported.

 

 

Recent significant investments include the March 4 acquisition by Fimalac Développement of 40% of Groupe Lucien Barrière for €186 million. Since the associate is accounted for using the equity method, its revenue is not included in Fimalac's consolidated revenue.

CA3T11A