2013-01-28 18:37:43 -
PARIS -- (Marketwire) -- 01/28/13 -- Following the change in the Group's year-end,
fiscal 2012 is a transition year
covering the 15-month period from October 1, 2011 to December 31, 2012.
This press release concerns revenue for the final quarter of the fiscal
covering the period from October 1 to December 31, 2012.
I) Fimalac's consolidated revenue
In line with the applicable accounting standards, Fitch is no longer
consolidated by the Fimalac Group because it is 50%-owned by the Group.
result, it no longer contributes to Fimalac's consolidated revenue,
corresponds primarily to the revenue generated by Vega's entertainment
management business and to the rental revenue derived from the Group's
Consolidated revenue for the three months from October 1 to December 31,
amounted to EUR11.8 million compared with EUR9.4 million for the
period. As earlier reported, consolidated revenue for the twelve months
October 1, 2011 to September 30, 2012 came to EUR30.3 million versus
for the comparable period (i.e. the Group's prior fiscal year).
consolidated revenue for the fifteen months ended December 31,
corresponding to the transition period following the change in the Group's
year-end, totaled EUR42.1 million.
II) Fitch's revenue
As previously reported, Fitch's revenue for the twelve months to
30, 2012 amounted to EUR621.9 million ($805.5 million) versus
($732.7 million) for the comparable period, representing an increase of
like-for-like (based on a comparable scope of consolidation and at
Fitch enjoyed an increasingly fast pace of growth over the last quarters
year ended on an excellent performance, with revenue for the three
December 31, 2012 up 23.4% as reported and 19.7% like-for-like at EUR167.4
($217.3 million) versus EUR135.7 million ($181.5 million) for the same
2011. Growth accelerated across main regions, with like-for-like
17.8% in North America, 35.3% in Latin America, 18.7% in the Asia-Pacific
and 18.6% in the Europe-Middle East-Africa (EMEA), region that is now on a
similar growth trajectory to the other regions.
Revenue for the 15-month transition period ended December 31, 2012
EUR789.3 million ($1,022.8 million).
III) Fitch's acquisition of 7city
As announced on January 24, 2013, Fitch Group has recently acquired
leading provider of learning and development solutions for the
services industry. Based in London with offices in New York,
Dubai, 7city has over 150 employees.
Fitch Group's strategy for this acquisition is to combine 7city with its
Training unit to form Fitch 7city Learning, a global leader in
financial analysis and credit risk analysis training.
Fitch 7city Learning will be a third business segment for Fitch Group,
Fitch Ratings and Fitch Solutions (research and analytics). It
natural diversification, targeting the same financial community and
Fitch's expertise and global footprint.
IV) Upcoming results announcements
Results for fiscal 2012 - covering the fifteen months ended December 31,
will be published after the Board meeting scheduled for March 26, 2013.
This announcement is distributed by Thomson Reuters on behalf of
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: FIMALAC via Thomson Reuters ONE
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