FIMALAC Up 11.6% excluding acquisitions
Fimalac's consolidated revenue for the first quarter of 2016 amounted to €74.9 million compared with €36.9 million for the same period of 2015. Excluding the contribution of companies acquired by the Digital Division and the Entertainment Division, the period-on-period increase was 11.6% based on a comparable scope of consolidation.
| (in € millions) | Q1 2015 | Q1 2016 | ||
| Digital (Webedia) | 17.7 | 44.8 | +19.8% excluding acquisitions | |
| Entertainment | 15.9 | 26.8 | +5% excluding acquisitions | |
| Real Estate | 3.3 | 3.3 | ||
| Consolidated revenue | 36.9 | 74.9 | +11.6% excluding acquisitions |
The Digital Division represented by Webedia contributed €44.8 million to consolidated revenue for the first quarter of 2016 versus €17.7 million in the year-earlier period. International operations represented revenues of €11.4 million (versus €3.4 million), corresponding to approximately 25% of total revenue. These figures reflect the Division's increasingly strong presence in markets such as Germany and Brazil, and recent development initiatives in the United States. Acquisitions added €23.6 million to first-quarter revenue, and the period-on-period growth was 19.8% excluding acquisitions.
Entertainment Division revenue amounted to €26.8 million for the first quarter of 2016 compared with €15.9 million (after adjustments) for the same period of 2015. The Division's revenue contribution was also boosted by acquisitions, in both the venue management and live entertainment production segments, which generated additional revenue of €10.1 million in the first quarter. Underlying growth for the period was 5% excluding acquisitions.
Fitch Group, which is currently 20%-owned by Fimalac and accounted for by the equity method, reported revenue of $266.5 million in the first quarter, compared with $292.6 million in the same period of 2015. The like-for-like change, based on a comparable scope of consolidation and at constant exchange rates, was a decline of 7.1%, after a good year in 2015, especially in the United States.
Paris
April 27, 2016
As previously announced, Fimalac has launched a public offer to buy back up to 1,700,000 shares, representing 6.3% of the capital, at a price of €101 per share (including the 2015 dividend). The Offer period began on April 15 and will end at the close of trading on May 12.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: FIMALAC via Globenewswire
