PARIS, July 18, 2012 /PRNewswire/ --
Strong 9.5%* growth in issue volume in line with objectives , reflecting:
- Good economic conditions and a strong sales performance in Latin America (up 21.8%*), which accounts for more than 50% of total issue volume.
- Low growth in Europe (up 1.2%* excluding Hungary ), impacted by the decline in the number of people in work.
- Sustained growth in Rest of the world (up 11.7%*).
Total revenue of €511 million, up 7.3%*, reflecting:
- An increase of 9.3%* in operating revenue with issue volume [ 3], in line with the rise in issue volume.
- A slight decline in operating revenue without issue volume, generated by less recurring businesses.
- An increase of 7.4%* in financial revenue, despite the decline in reference rates in most countries.
*Like-for-like, year-on-year growth in the first half
(in EUR % change millions) 1st half 2011 1st half 2012 Reported Like-for- like Issue volume 7,264 7,865 +8.3% +9.5% Operating revenue with IV  374 401 +7.2% +9.3% Operating revenue witho 82 64 -22.0% -2.1% Total operating revenue 456 465 +1.9% +7.3% Financial revenue 44 46 +2.1% +7.4% Total revenue 501 511 +1.9% +7.3%First-half issue volume up 9.5% like-for-like Issue volume amounted to €7,865 million in the six months ended June 30, 2012, an increase of 9.5% like-for-like and of 8.3% as reported, reflecting the 0.2% positive impact of changes in scope of consolidation and the 1.4% negative currency effect for the period. Like-for-like growth in issue volume by region
Like-for-like growth 1st quarter 2nd quarter in issue volume 2012 2012 1st half 2012 Latin America +22.1% +21.5% +21.8% Europe -0.3% -3.8% -2.1% Europe excluding Hungary +2.7% -0.2% +1.2% Rest of the world +13.6% +9.8% +11.7% TOTAL +10.4% +8.5% +9.5%
- Latin America: €4.0 billion in first-half issue volume
- Europe: €3.6 billion in first-half issue volume
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