PARIS, January 16, 2012 /PRNewswire/ --
- Sustained 9.7% growth in issue volume in 2011 to €15.2 billion, continuing the trend established in 2010 and in line with the Group's medium-term annual growth target of 6% to 14%, reflecting strong momentum in Latin America and modest growth in Europe.
- Solid 9.7% rise in 2011 revenue to €1.0 billion, with: - Operating revenue up 9.2%, mirroring the increase in issue volume and attesting to the sales teams' dynamic performances. - Financial revenue up by a strong 15.2%, helped by higher interest rates.
- 2011 EBIT target confirmed at €340 million to €360 million.
All growth rates are on a like-for-like basis
(in EUR 2010 millions) 2011 % change (reported) (L/L) Issue volume 13,875 15,188 +9.5% +9.7% Operating revenue 885 940 +6.2% +9.2% Financial revenue 80 92 +14.7% +15.2% Total revenue 965 1,032 +6.9% +9.7%
2011 ISSUE VOLUME UP 9.7% LIKE-FOR-LIKE
Issue volume for 2011 amounted to €15.2 billion, up 9.7% like-for-like. The reported increase was 9.5%, including the 0.8% positive effect of changes in consolidation scope and the 1.0% negative currency effect for the year.Overall growth for the year reflected:
- A modest increase in Europe (2.1% excluding the loss of the Consip contract in Italy) in an environment shaped by stable numbers of people in work.
- Sharp 20.1% growth in Latin America , attributable to dynamic performances by the sales teams in a favorable economic environment.
- Issue volume by region
(in EUR millions) Q1 2011 Q2 2011 Q3 2011 Q4 2011 2011 Europe 1,807 1,848 1,624 2,088 7,368 Latin America 1,628 1,742 1,836 2,131 7,337 Rest of the world 119 120 120 125 484 TOTAL 3,554 3,710 3,580 4,344 15,188
- Issue volume growth by region
Like-for-like issue volume growth Q1 2011 Q2 2011 Q3 2011 Q4 2011 2011 Europe -0.3% +1.4% -1.3% +0.9% +0.2% Latin America +20.5% +21.5% +19.4% +19.1% +20.1% Rest of the world +23.1% +17.1% +23.8% +19.4% +20.7% TOTAL +9.0% +10.9% +9.1% +9.8% +9.7%2011 TOTAL REVENUE UP 9.7% LIKE-FOR-LIKE
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