FIMALAC : Second quater 08/09 revenues down 0,6% like for like

* Reuters is not responsible for the content in this press release.

Wed Apr 29, 2009 2:16pm EDT 

  PARIS, Apr 29 (MARKET WIRE) -- 
I) SECOND QUARTER REVENUE (January-March 2009)

    Fimalac's revenue for the second quarter of fiscal 2009 (January 1 to
March 31) amounted to EUR 128.7 million, up 1% on a reported basis.
Excluding the currency effect, revenue dipped by just 0.6% like-for-like,
representing a marked improvement compared with the 18.5% like-for-like
decline recorded in the first quarter (October-December
2008).

+--------------------+---------------+---------------+------------+--+
|                    |  January-March|  January-March|   % change |  |
|                    |               |               |            |  |
+--------------------+---------------+---------------+------------+--+
|  (in EUR  millions)   |           2008|           2009|  (reported)|  |
+--------------------+---------------+---------------+------------+--+
|  Fitch Ratings     |          107.0|          105.7|      - 1.2%|  |
+--------------------+---------------+---------------+------------+--+
|  Algorithmics      |           21.8|           23.0|      + 5.5%|  |
+--------------------+---------------+---------------+------------+--+
|  Eliminations      |          (1.4)|               |            |  |
+--------------------+---------------+---------------+------------+--+
|Consolidated revenue|          127.4|          128.7|      + 1.0%|  |
+--------------------+---------------+---------------+------------+--+
+--------------------+---------------+---------------+------------+--+

+--------------------+--------------------+
|                    |% change            |
|                    |(like-for-like)*    |
+--------------------+--------------------+
|  (in EUR  millions)   |                    |
+--------------------+--------------------+
|  Fitch Ratings     |              - 2.4%|
+--------------------+--------------------+
|  Algorithmics      |              + 8.3%|
+--------------------+--------------------+
|  Eliminations      |                    |
+--------------------+--------------------+
|Consolidated revenue|              - 0.6%|
+--------------------+--------------------+
+--------------------+--------------------+

    *Based on constant exchange rates (no changes in scope of
consolidation).

    Fitch Ratings reported second quarter revenue of $137.9 million (EUR
105.7 million) versus $161.1 million (EUR 107 million) in the
year-earlier period. The like-for-like decline of 2.4% was significantly
less than the 22.1% year-on-year drop recorded in the first quarter
(October-December 2008).

    Algorithmics reported second quarter revenue of $30.1 million (EUR 23
million) compared with $32.8 million (EUR 21.8 million) in the same
period of fiscal 2008, an increase of 8.4% like-for-like. This contrasted
favorably with the slight 1.7% like-for-like decline experienced in the
first quarter.

    II) FIRST-HALF REVENUE (October 2008-March 2009)

    Revenue for the first half of fiscal 2009, covering the period from
October 1, 2008 to March 31, 2009, amounted to EUR 265.6 million.
Like-for-like revenue was down 10.3%, reflecting an 18.5% drop in the
first quarter and a slight 0.6% decline in the
second.

+--------------------+--------------------+--------------------+
|    (in EUR  millions) |October 2007 to     |October 2008 to     |
|                    |March 2008          |March 2009          |
+--------------------+--------------------+--------------------+
|  Fitch Ratings     |               248.0|               212.6|
+--------------------+--------------------+--------------------+
|  Algorithmics      |                51.6|                53.1|
+--------------------+--------------------+--------------------+
|  Eliminations      |               (1.7)|               (0.1)|
+--------------------+--------------------+--------------------+
|Consolidated revenue|               297.9|               265.6|
+--------------------+--------------------+--------------------+
+--------------------+--------------------+--------------------+

+--------------------+--------------------+--+--------------------+
|    (in EUR  millions) |% change (reported) |  |% change            |
|                    |                    |  |(like-for-like)*    |
+--------------------+--------------------+--+--------------------+
|  Fitch Ratings     |             - 14.3%|  |             - 13.6%|
+--------------------+--------------------+--+--------------------+
|  Algorithmics      |              + 2.9%|  |              + 2.5%|
+--------------------+--------------------+--+--------------------+
|  Eliminations      |                    |  |                    |
+--------------------+--------------------+--+--------------------+
|Consolidated revenue|             - 10.8%|  |             - 10.3%|
+--------------------+--------------------+--+--------------------+
+--------------------+--------------------+--+--------------------+

    *Based on constant exchange rates (no changes in scope of
consolidation).

    This information is provided by HUGIN

    Contact information: 

    Jean-Philippe Laval 
 jp.laval@fimalac.com 



Copyright 2009, Market Wire, All rights reserved.

-0-
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.