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FIMALAC: First-Half 2013 Revenue - Sustained Growth at Fitch: Up 19.3% as reported Up 17.4% like-for-like*

PARIS--(Marketwired - Jul 24, 2013) -

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

1) Fimalac's consolidated revenue

Fimalac's consolidated revenue for the first half of 2013 amounted to EUR23.6 million compared with EUR15.8 million for the same period of 2012.

This amount is not particularly representative, as several of the Group's businesses (including Fitch) are accounted for by the equity method. It primarily reflects the Vega venue management business, which contributed revenue of EUR20.5 million versus EUR12.4 million in first-half 2012.

2) Strong growth in Fitch's consolidated revenue

Fitch reported revenue of EUR378.4 million ($497.2 million) in the first half of 2013, up a strong 19.3% as reported from EUR317.1 million ($411.4 million) in the year-earlier period.

Adjusted for the acquisition of 7city in January 2013 and for the currency effect, first-half revenue was up 17.4% on a like-for-like basis.

In the ratings segment, Fitch Ratings turned in a good performance with first-half revenue of EUR308.1 million ($404.9 million), reflecting sustained investor confidence. The subscription-based research services offered by Fitch Solutions, Fitch's second business segment with first-half revenue of EUR55.3 million ($72.6 million), represented around 15% of consolidated revenue and is maintaining its steady growth, attesting to its credibility. The third business segment, Fitch 7city Learning, which is committed to becoming a global leader in financial analysis and credit risk analysis training, reported revenue of EUR15 million ($19.7 million) for the first half of 2013.

Geographically, the fastest like-for-like growth in Fitch's first-half business was driven both in the Europe, Middle East, Africa (EMEA) region, with a 23.1% increase, and in North America, with 18.8%. The gains were spread across the business base, particularly in the corporate ratings segment.


24 July 2013.

FIM CA 1er semestre 2013 VA: http://hugin.info/143461/R/1718484/571660.pdf

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Source: FIMALAC via Thomson Reuters ONE [HUG#1718484]