Informa raises 2023 revenue to £3.15bn+
Informa has lifted its 2023 revenue forecast to more than £3.15 billion (bn).
The organiser’s improved fortunes come on account of accelerating growth across its entire breadth of portfolio.
Other stories of this week’s event news roundup include:
- IAEE appoints new president and CEO
- UFI signs MoU to boost exhibitions’ growth in Latin America
- IEG Q3 revenues rise by €46.2mn
- ExCeL London extends partnership with CloserStill Media
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Read on for your full Week in Events roundup ⤵️
Informa revises up 2023 revenue projections to over £3.15bn
Informa PLC has increased its full-year revenue expectations to more than £3.15bn from £3.05bn before.
The organiser also revised up its adjusted profit projections to £840 million (mn) from £790mn earlier.
The upward revision in its outlook comes on the back of a strong performance of its portfolio, with revenue growing 31.7% annually during the first ten months of 2023.
Robust demand for live events, access to B2B markets and high-quality sales intelligence were the key reasons for growth.
The portfolio is led by Informa Markets (up 65% yearly in Jan-Oct 2023), Informa Connect (+15.6%) and Informa Tech (+5.6%).
In its latest trading update, the company said that “the quality of our product offering is improving, with technology enabling better matchmaking between buyers and sellers, on-demand access to content and data to support faster decision making and a range of other value-added services.”
Group CEO Stephen A. Carter said: “We are confirming an upgrade to revenue and profit in 2023 and extending our share buyback programme to £1.15bn.
“In 2024, our task is to continue to improve our product and service offering, grow organically, and use our cash flows and balance sheet to seize opportunities to build and buy further scale.”
IAEE appoints new president and CEO
The International Association of Exhibitions and Events (IAEE) has named a new president and CEO to rev up its innovation and partnerships.
Marsha Flanagan will assume the responsibilities and guide IAEE into its next phase, supporting advocacy, sustainability and DE&I initiatives in the global exhibitions and events industry.
— IAEE Headquarters (@IAEE_HQ) November 14, 2023
Marsha has previously worked as the senior vice president of events and learning experiences at IAEE, where she drove various learning initiatives related to events and exhibition management.
Prior to joining IAEE, she was director of content strategy and development at the Promotional Products Association International.
She has also served for around 12 years in various roles at Meetings Professionals International, where she began her career.
Marsha said: “IAEE plays a vital role in advancing the global exhibitions and events industry, and I am honoured to take on the position of President and CEO.
“I am excited to work closely with the IAEE board of directors, staff, our members, and other stakeholders to drive community engagement and growth for the organization.”
UFI signs MoU to boost exhibitions growth in Latin America
UFI has signed a Memorandum of Understanding (MoU) with a regional association to support exhibitions’ growth in Latin America.
The agreement with AFIDA (International Association of Exhibitions in Latin America Information) will see the two entities collaborate to advance advocacy, research and education initiatives in the region.
🤝 UFI and Asociación Internacional de Ferias de América sign Memorandum of Understanding (MoU) to mutually support and strengthen Latin America's exhibition and trade fair industry!
— UFI (@UFILive) November 14, 2023
Michael Duck, UFI President, said: “This memorandum highlights the power of associations collaborating for the collective interests of our members and paving the way for further growth and shared success for the wider exhibitions industry regionally and globally.
“We look forward to partnering with AFIDA in driving and delivering programs throughout the region.”
Fernando Gorbarán, AFIDA President, added: “We strongly believe that our associations working collectively are a very powerful tool towards the accomplishment of our mutual objectives, bringing the industry together.
“We are committed to cooperating with UFI through advocacy, education and research, so as to be both à l’avant-garde on what our members need.
“The renewal of this MoU also shows our long-lasting commitment to the promotion of the Exhibitions Industry through Latin America and the world.”
The agreement was signed at the 90th UFI Global Congress at Las Vegas.
IEG Q3 2023 revenues jump by €46.2mn
Italian Exhibition Group (IEG) has reported its Q3 2023 revenues at €152.4mn (£133.3mn), an increase of €46.2mn (£40.4mn) compared to the same period last year.
The figures mark a record third consecutive quarter for the Italy-based group, with adjusted EBITDA and profit at €33.8mn (£29.6mn) and €9.6mn (£8.4mn), respectively.
The strong growth is attributed to the robust performance of events as well as the return of key shows like Sigep, Vicenzaoro January and T-Gold.
IEG group CEO Corrado Peraboni said: “The positive performance in the current year, with a record turnover for the third consecutive quarter and an increasing profitability, that allowed the Group to carry on acquisitions and investments in order to expand our product portfolio, both domestically and internationally.
“This year we have been launching new shows, such as KEY, an international show based on renewable resources and a spin-off from Ecomondo and My Plant & Garden, the most important show on floriculture, horticulture and gardening in Italy.”
Corrado added: “We have been pursuing our 4×4 strategy by realising Ecomondo in Mexico and Sigep in China, two of the main products in our portfolio.
“We foresee for 2023 results exceeding strategic goals set in our business plan, which will be the basis for 2024 supporting growth and investments.”
ExCeL London and CloserStill Media strengthen collaboration
ExCeL London has expanded its partnership with CloserStill Media to stage 20 exhibitions every year until 2026.
These include leading shows like Tech Show London, Learning Technologies UK and Tech Show London.
ExCeL’s CCO Simon Mills said: “Gareth and the CloserStill Media team are a fantastic success story and we’re thrilled to be expanding our partnership together.
“Their organic growth is further testament that events at ExCeL work and why 2023 is set to be our busiest ever year.
“We’re continually investing in our venue to ensure we can offer the growth potential organisers like CloserStill Media demand.”
CloserStill Media have been hosting events at ExCeL since over 10 years ago and welcomed nearly 700,000 visitors to the venue.
Gareth Bowhill, CEO of CloserStill Media, added: “The past few years have seen strong growth for CloserStill Media both for our shows across the UK, as well as in Europe, the US and Asia, with much of that coming from the success of our existing portfolio.
“Working with teams like ExCeL have been an important part of that, and we’re delighted to be building on this relationship.
“The venue staff, facilities and infrastructure are world class, especially the high-speed Elizabeth line which continues to receive resounding praise from both our exhibitors and visitors alike.
“The next few years also promise to be an exciting time for both CloserStill Media and ExCeL with the prospect of new event launches to come.”
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