REVENUE UP 9.8% LIKE-FOR-LIKE
(in EUR millions) H1 2010 H1 2011 % change Reported Like-for-like Operating revenue 422 456 +8.1% +9.2% Financial revenue 39 44 +14.8% +16.0% Total revenue 461 501 +8.6% +9.8%Total revenue for the period amounted to €501million, an increase of 8.6% as reported and 9.8% like-for-like, comprising:
- Operating revenue of €456 million, up 9.2% like-for-like. This performance reflected strong growth in Latin America, an improvement in economic conditions in Central Europe and the gradual stabilization of client fee rates in some countries. Operating revenue generated by issue volume rose 8.6% like-for-like, while other operating revenue (without issue volume) was 11.6% higher, lifted by the signature of one-off Incentive & Rewards contracts in Germany.
- Financial revenue of €44 million, up 16.0% like-for-like. The increase was attributable to higher interest rates and the increased float in Latin America, as well as to the gradual recovery in European interest rates.