Informa smashes targets as revenue tops £3bn
Informa has surpassed its 2023 targets with underlying revenue growth of 30% to exceed £3 billion.
The industry group also revised upward its 2024 revenue and profit outlook on strong business growth and brand expansion in IMEA (India, Middle East & Africa). Read more about it below.
Here are the full headlines of this week’s event news updates:
- Informa smashes targets as revenue tops £3bn
- UFI APAC Conference attracts 300 MICE leaders
- Messe Frankfurt Middle East names new CEO
- ExpoPlatform appoints Cosmoprof veteran as event tech strategist
Digital tools play a key role in improving event revenue and profitability. Read how these tools will influence the meetings and events landscape in 2024.
Read on for your full Week in Events roundup ⤵️
Informa smashes targets as revenue tops £3bn
Informa recorded a 30% jump in underlying revenue growth to top £3bn in 2023.
The leading publishing and exhibitions group also reported a whopping 59% boost in adjusted operating profit to cross £850 million.
Its robust performance mirrors the buoyant outlook among eventprofs, prompting an upward revision of the annual forecast for 2024.
Today we are announcing our 2023 Full Year Results, outlining a strong performance last year and continuing momentum and growth in 2024.
Read our full press release here: https://t.co/V5K4VSp9Y0#informa #lifeatinforma pic.twitter.com/OXXpLdaa9t
— Informa Plc (@InformaPLC) March 8, 2024
Here are the highlights from its full-year results for 2023:
- Revenue and profit soar: 2023 revenue jumped to £3.2bn (up from £2.3bn in 2022), with adjusted operating profit reaching £853.8m (up from £496.3m).
- Strong business growth: Underlying revenue grew 30.4% and adjusted operating profit surged 59.1% in 2023, driven by both B2B and Academic Markets.
- Expanding margins: Adjusted operating margin rose to 26.8% (from 21.9% in 2022) due to strong revenue growth, cost efficiency and plans for further margin increase in 2024.
- Earnings per share up sharply: Adjusted earnings per share rose 86% to 45.3p, reflecting strong earnings growth and the share buyback programme.
- Statutory performance improves: Statutory revenue, operating profit and diluted EPS all increased significantly in 2023.
- Solid financial position: Strong cash flow and strategic capital allocation resulted in a year-end leverage ratio of 1.4x, despite significant capital expenditure and share buybacks.
Group CEO Stephen Carter said: ”Informa’s final results confirm further outperformance in 2023 and continuing momentum and growth in 2024.
”Strong growth in IMEA, (India, Middle East & Africa), which is emerging as a material geographic growth engine alongside the Americas, China, ASEAN, and Europe, leads to updated 2024 guidance.
“We are expanding our platform in B2B Digital Services through the proposed combination with TechTarget.
“And we are delivering further strong shareholder returns in 2024, including continuing dividend growth and a minimum of £340m of in-year share buybacks.”
Building on a record 2023, the Informa secured over £500mn in revenue in Q1 24 and raised its 2024 guidance to £3.45bn-£3.5bn revenue, £950mn-£970mn operating profit and £720m+ free cash flow.
UFI APAC Conference attracts 300 MICE leaders
UFI’s Asia-Pacific Conference 2024 saw 300 leaders from the events industry gather in Macao.
It was the second time the event was held in the Chinese city after 2008, with eventprofs visiting from mainland China, Europe and ASEAN countries.
The two-day event showcased the MICE capabilities and investment potential of Macao, which has 11 UFI-accredited exhibitions in areas such as tourism, commerce, environmental protection, automobiles, yachts and aviation.
The conference featured expert panels and leader summits on the impact and trends in technology, sustainability, AI and evolution in events.
There were also cultural and sports activities infused with a local flavour.
Pyotr Bakash, ExpoPlatform’s regional director of MEAA, was at the event to meet and network with industry peers.
Messe Frankfurt Middle East names new CEO
Messe Frankfurt Middle East has promoted its current managing director Ted Bloom as its new CEO.
He replaces outgoing CEO Simon Meller, who has stepped down to dedicate more time with his family.
Ted said: “It had been incredible to work closely with Simon the past two years.
“I am incredibly thankful for his leadership and mentorship and wish him the best for the next chapter.”
He added: “As the exhibition industry in the Middle East continues to thrive, driven by significant demand from exhibitors and attracting record numbers of visitors, I look forward to working with the talented team to achieve even greater milestones in the future.
“I am confident that the company’s portfolio of business-to-business exhibitions will continue to provide platforms for connection across the region.”
Ted has an experience of three decades in exhibitions and joined MFME in 2022 as Chief Operating Officer.
He was promoted to managing director in 2023 and assumed the role of interim CEO for most of 2023, guiding the company’s expansion across the Middle East with flagship events like Automechanika, Beautyworld and Intersec.
ExpoPlatform appoints Cosmoprof veteran as event tech strategist
ExpoPlatform has expanded its leadership team by hiring an event technology strategist.
Valentina Anastasio joins the new role after nearly a decade-long tenure at Cosmoprof Worldwide Bologna.
She will pioneer strategy enhancement for the tech firm’s clientele from Italy and bolster client success – adding to the senior team’s extensive event organisation experience.
Her hiring aligns with the ExpoPlatform’s commitment to deliver successful market-leading tools for event organisers.
Valentina said: “I am delighted to join the team and eager to embark on this journey of innovation with such a forward-thinking company.
“I can’t wait to leverage my expertise as an organizer to shape the future of event technology and create unforgettable experiences for our clients.”
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