CA1SANI) Fitch first-half revenue
Following the sale of a 10% interest in Fitch Group to Hearst on April 11, 2012, Fimalac's remaining 50% stake in the company is now accounted for by the equity method.
For information, Fitch Ratings reported revenue of €286.6 million ($379.7 million) in the first six months of fiscal 2012, compared with €263.8 million ($359.6 million) in the year-earlier period. This sustained growth in business represented an increase of 8.6% as reported and of 7.0% like-for-like (based on a comparable scope of consolidation and at constant exchange rates).
II) Consolidated revenue
Fimalac's consolidated revenue for the period reflects the new accounting treatment of the 50% stake in Fitch Group, whose revenue is no longer consolidated.
Based on the new configuration and after adjusting both periods for comparative purposes, consolidated revenue for the first six months of fiscal 2012 stood at €17.9 million, versus €14.0 million the year before. It primarily includes €15 million in interim revenue from Vega (entertainment venue management), compared with €11.7 million in the prior-year period, when the company was consolidated over five months.