Slide 1: 2022 Full-Year Results
2022 Full-Year Results Strong Operating Performance, Increasing Shareholder Returns, Growth & Expansion 9 March 2023 www.informa.com
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements concerning the financial condition, results of operations and businesses of the Group. Although the Group believes that the expectations reflected in such forward-looking statements are reasonable, these statements are not guarantees o
Slide 3: Today's Presenters
Today’s Presenters Stephen A. Carter Gareth Wright Group Chief Executive Group Finance Director Max Gabriel Gary Nugent President , IIRIS CEO, Informa Tech 2022 Full-Year Results Presentation 3 Information Classification: General
Slide 4: Knowledge & Information Economy
Knowledge & Information Economy Specialist Market Research Specialist Brands First Party Data Peer Reviewed Research Advanced Learning Specialist Media Live Experiences Pay-to-Read Lead Generation Open Research Content Syndication On-Demand Access Audience Development Pay-to-Publish Digital Demand G
Slide 5: Academic Markets & Knowledge Services, B2B Markets & Digital Services
Academic Markets & Knowledge Services B2B Markets & Digital Services Live & On-Demand B2B Events • Curate high quality, peer-reviewed research from leading experts • Must have knowledge in Science Tech & • Leading international player in Live & Medical, Humanities & Social Sciences On-Demand B2B Eve
Slide 6: 2022 Full Year Results Highlights
2022 Full Year Results Highlights Balance Sheet Strength 2022 Operating Performance GAP 2 Strategy & Capital Allocation • 2022 results underline strength of specialist • Active divestment of Informa Intelligence delivers • Relentless focus on cash management & cash brands and subject categories, per
Slide 7: The Informa Group 2023-2025
The Informa Group 2023-2025 B2B Markets: B2B Markets: Academic Markets Live & On-Demand Events B2B Digital Services • Growth performance in Pay-to-Read • Maximise the return and reflation of Live & On- • Acceleration in First Party Data strategy Subscriptions and Advanced Learning Demand Events glob
Slide 8: ESG
ESG Faster to Zero Moving faster to become a zero waste and net zero carbon business A- No 1 AA 2022 rating 2022 rating Faster to Zero Sustainability Inside Impact Multiplier United Nations Sustainable Development Goals • CarbonNeutral® Company certification for 3rd • 60%+ of Top 100 B2B event brand
Slide 9: Investment for Growth
Investment for Growth Open Research Acceleration Smart Connections Media Partnering One+ Submissions volume Specialist Media 365 day Online Partnering Next Gen Article Production Smart Buy Accelerated speed to market Multi-purchase Payments Academic Publishing Tiers of Service IIRIS Smart Events Enh
Slide 10: Targeted Expansion: Addition of Tarsus for $940m
Targeted Expansion: Addition of Tarsus for $940m • Strengthens leadership in B2B market with market-leading Operating Synergies: brands, exceptional talent and deep customer relationships c.$20m+ annualised: • Strong commercial, operational and cultural fit Real estate, procurement, technology, even
Slide 11: Informa + Tarsus: Highly Complementary Portfolios
Informa + Tarsus: Highly Complementary Portfolios 160+ Brands in Attractive Specialist Markets Strong Geographic Alignment Healthcare Beauty & Aesthetics Packaging 11 acquisitions and 24 launches since 2019 change of ownership Significant biennial uplift in odd years Tarsus estimated revenue Top 10
Slide 12: Informa + Tarsus: The Combination Programme
Informa + Tarsus: The Combination Programme A Combination Programme with three key objectives by January 2024 Maximise 2023 performance, minimizing disruption and distraction 1. Deliver in key year for return, growth and acceleration of Live B2B Events Make growth-focused people, brand 2. Discover a
Slide 13: Financial Performance & Capital Allocation
2022 Full-Year Results Financial Performance & Capital Allocation Gareth Wright Group Finance Director 13
Slide 14: 2022 Full Year Results
2022 Full Year Results 32.8% +37.7% £560m Growth in Adjusted Operating Profit Higher Reported Revenue Accelerating Shareholder Returns +37.7% to £535m (2021: £388m) +32.8% to £2,389m Share buybacks £517m and ordinary dividends (2021: £1,799m) £43m 58% Growing Adjusted Diluted EPS 26.4p (2021: 16.
Slide 15: Growth & Financial Delivery in FY 2022
Growth & Financial Delivery in FY 2022 2022 2021 £m £m Higher Revenues • Reported Revenue Growth of 32.8%, Underlying Growth Revenue 2,389.3 1,798.7 of 29.6% Adjusted Operating Profit 535.0 388.4 Adjusted Operating Margin 22.4% 21.6% Growth in Adjusted Operating Profit • Reported Growth of 37.7%, Un
Slide 16: Operating businesses delivering strong underlying growth
Operating businesses delivering strong underlying growth 2022 2021 Reported Underlying Academic Markets: Taylor & Francis £m £m % % • Improving underlying revenue growth Revenue Informa Markets 952.1 608.5 56.5 47.0 • Strength in Pay-to-Read subscriptions & Advanced Informa Connect 395.9 231.9 70.7
Slide 17: Accelerating Revenue and Profit Growth
Accelerating Revenue and Profit Growth 2022 Continuing Revenue Growth (%) 42.9 % Reported Growth 2022 Continuing Adjusted Operating Profit Growth (%) 58.5% Reported Growth 2022 Full-Year Results Presentation Note: Numbers are for Continuing Operations 17 Information Classification: General
Slide 18: Relentless focus on cash management and cash conversion
Relentless focus on cash management and cash conversion £147m (£26m) (£66m) 2022 Free Cash Flow £9m (£31m) (£6m) £466m • Consistently improving growth at T&F £439m • Consistently improving growth in Live B2B Events • Relentless focus on working capital • 117% operating cashflow conversion • GAP 2 in
Slide 19: Active choices deliver zero leverage by year-end
Active choices deliver zero leverage by year-end £1,175m Net Debt* Relentless focus on Cash Management and Cash Conversion Active divestment of Intelligence portfolio (Average 28x EBITDA for c.£2.5bn value) Targeted expansion into adjacent growth markets Specialist Media / Audience Development & Con
Slide 20: Debt strategy delivering long-term financing flexibility
Debt strategy delivering long-term financing flexibility Debt maturities as at 31 December 2022 (£m) Strong cash delivery and debt management: 1,600.0 ⚫ EMTN ⚫ RCF drawn Debt refinancing through Covid removed all 1,400.0 --- RCF Undrawn1 group financial covenants ⚫ Bank 1,200.0 Managed pension posit
Slide 21: Portfolio Focus: Divestment of Informa Intelligence
Portfolio Focus : Divestment of Informa Intelligence Retained Investments Brand Category Equity Interest Decision to divest of Intelligence portfolio delivered portfolio focus and c.£2.5bn gross divestment value at Norstella Pharma Intelligence 6.7% an average multiple of 28x 2021 EV/EBITDA Lloyd’s
Slide 22: Accelerating Shareholder Returns
Accelerating Shareholder Returns • Share Buyback Programme launched on 14 February 2022 Commitment raised to £725m through 2022 and to £1bn in March 2023 • 100m+ shares repurchased and cancelled at average price of 584p • £589m completed to date with programme likely to run to end 2023 £1bn • Repr
Slide 23: Strong Operating Performance & Continuing Strategic Progress
2022 Full-Year Results Strong Operating Performance & Continuing Strategic Progress Stephen A. Carter Group Chief Executive 2022 Full-Year Results Presentation 23
Slide 24: 2021-2024 Growth Acceleration Plan 2
2021-2024 Growth Acceleration Plan 2 GAP GAP GAP GAP GAP GAP Portfolio Digital Leadership Investment Shareholder Faster Focus & Data & Talent Returns Forward Market Specialisation Digital Acceleration Enhanced Talent Investment for Growth Improving Returns Sustainable Practices Divestment of Informa
Slide 25: The Informa Group 2023-2025
The Informa Group 2023-2025 B2B Markets: B2B Markets: Academic Markets Live & On-Demand Events B2B Digital Services • Growth performance in Pay-to-Read • Maximise the return and reflation of Live & On- • Acceleration in First Party Data strategy Subscriptions and Advanced Learning Demand Events glob
Slide 26: B2B Growth Acceleration via adjacent market expansion
B2B Growth Acceleration via adjacent market expansion • c.20% Specialist Market Research • c.35% Specialist Media • c.10% Audience Dev. / Lead Generation • c.35% Live B2B Events • $500m+ Revenue Expansion into data-driven Audience-Led Services Specialist Market Research, Specialist Media, Specialist
Slide 27: IIRIS (First Party Data): Building a First Party Data platform
IIRIS (First Party Data): Building a First Party Data platform LIVE AND ON- DEMAND EVENTS 1BN+ Audience Interactions 100M+ 100M+ Unknown Audience SPECIALIST CONTENT Contacts BRANDS 10M+ Known, Marketable, Engaged Audience (KEMA) 2019 - 2020 2021 Building a proprietary B2B Customer Data and Analytics
Slide 28: IIRIS (First Party Data): Accelerating growth in first party audience data
IIRIS (First Party Data): Accelerating growth in first party audience data 1BN+ B2B Customer 1.8BN Audience Interactions Data and Analytics Engine Audience Interactions 100M+ 400M+ Unknown Audience Unknown Audience 10M+ 17M+ Known, Marketable, Known, Marketable, Engaged Audience (KEMA) Engaged Audie
Slide 29: IIRIS (First Party Data): Amplifying value across B2B Markets
IIRIS (First Party Data): Amplifying value across B2B Markets Marketing our own Marketing our clients’ Launching new products products better products better 8.5% €500k 200k Live & On- Increase in New digital Scored Leads Demand Events registration revenue Delivered 400k+ 67k+ 1.8Bn B2B Services New
Slide 30: Leading provider of Specialist Market Insight and Market Access to the Tech industry
Leading provider of Specialist Market Insight and Market Access to the Tech industry >$500m >10% CAGR 22-25% Revenue run rate (60% Digital) 2023-2025 Revenue 2023-2025 EBITDA 1700+ 20+ >40 15+ Specialist Market Countries Digital media Major Live B2B Event Experts Specialist Market brands franchises
Slide 31: A new market, new budgets, new opportunities
A new market, new budgets, new opportunities B2B Audience Development & Digital Demand Generation $11bn market in the US alone Long term market growth drivers ~$15b The rise of B2B Marketing ~$11b ~$9b The digitisation of B2B Marketing (beyond Tech) ~$6b ~$7b ~$4b ⚫ Tech The era of privacy and conse
Slide 32: What it takes to compete and win in the market?
What it takes to compete and win in the market? 1 2 3 4 5 A rich and proprietary The ability to An engine to The marketing The ability to source of 1st party gather, cleanse & analyse and capability to effectively market audience data from enrich the audience derive intent and activate and sell the
Slide 33: Industry Dive (Specialist Media / Audience Development)
1 Industry Dive (Specialist Media / Audience Development) A rich and proprietary source of 1st party audience data Business audiences Across 27 industries Highly engaged 24% daily open rate 3m+ 13m+ reach subscribers 45% opened within last 7 days 0.02% bounce rates 74% 100% of Executive, Fortune 100
Slide 34: NetLine (Syndicated Content / Lead Generation)
3 NetLine (Syndicated Content / Lead Generation) 2023 product innovation focused on intent From anonymous, general company- …to known, in-market, buyer-level intent level insight… Launching Q2 2023 Drawing upon 1.8b proprietary 1st party interactions from IIRIS Synthesising both Offline (B2B Events)
Slide 35: Informa Tech 2023-2028
Informa Tech 2023-2028 $1bn+ Revenue Consistent double-digit underlying growth Targeted additions to strengthen capabilities $500m+ Revenue Expansion beyond Tech vertical Growth and Acceleration 2023 First Party Data through IIRIS 2028 Full Service B2B customer data and analytics engine $1bn+ busine
Slide 36: The Informa Group 2023-2025
The Informa Group 2023-2025 B2B Markets: B2B Markets: Academic Markets Live & On-Demand Events B2B Digital Services • Growth performance in Pay-to-Read • Maximise the return and reflation of Live & On- • Acceleration in First Party Data strategy Subscriptions and Advanced Learning Demand Events glob
Slide 37: Academic Markets growth through Open Research Expansion
Academic Markets growth through Open Research Expansion • Robust performances in traditional Pay-to-Read Targeting the full Ambiguous Clear Subscriptions and Advanced Learning life cycle of Funding Funding Dynamic Static • High subscription renewal rates, continuing growth in digital Knowledge Data-
Slide 38: Improving quality of earnings from diversified service offering
Improving quality of earnings from diversified service offering Print v Digital Institution v Retail Intermediaries v Direct 2025 18% | 82% 2025 76% | 24% 2025 43% | 57% 2022 21% | 79% 2022 72% | 28% 2022 53% | 47% 2017 31% | 69% 2017 71% | 29% 2017 77% | 23% Researcher Services: Pay to Read v Produ
Slide 39: B2B Growth Acceleration through Live & On-Demand Events
B2B Growth Acceleration through Live & On-Demand Events REVENUE CATEGORY BRAND LOCATION REVENUE EXHIBITORS ATTENDEES NET SQ. M vs 2019 2022 Healthcare Arab Health Middle East £30m+ 2,300+ 44,000+ 39,000+ 75-80% Real Estate & World of Concrete North America £20m+ 1,000+ 19,000+ 59,000+ 85-90% Constru
Slide 40: B2B growth acceleration through Partnerships in geographies and sectors
B2B growth acceleration through Partnerships in geographies and sectors Tahaluf - geographic markets Beauty – sector markets • Tahaluf = Alliance • Agreement with BolognaFiere and Professional Beauty Association to • Joint venture with Saudi Federation SAFCSP to bring world class events expand Beaut
Slide 41: Progressive reopening in Greater China
Progressive reopening in Greater China Positives: Cautions: All cities removing restrictions, with domestic travel capacity returning Significant Inbound / Outbound visa backlog Hong Kong / Mainland border open Shortened selling cycle in 2023 Maintained investment in Informa business through 2022/23
Slide 42: Guidance for 2023
Guidance for 2023 2023 Market Guidance1 • Revenue: £2,750m – £2,850m • Adjusted Operating Profit: £675m – £725m • Operating Margin increase by 250bpts+ • 2023 operating ambitions: • Academic Markets further 3%+ underlying growth • B2B Markets: Informa Markets / Informa Connect strong double-digit un
Slide 43: The Informa Group
The Informa Group GROWTH A strong and high performing business ACCELERATION Further strong growth in 2023, with full return in all businesses and regions from 2024 DIGITAL Scale, strength and further growth in B2B Digital Services for B2B Tech buyers STRENGTH Long-term covenant free, fixed-rate debt
Slide 44: Appendix
@} informa Appendix
Slide 45: Accelerating sustainable change in our business and the specialist markets we serve
Accelerating sustainable change in our business and the specialist markets we serve. Faster to Zero Sustainability Inside Impact Multiplier Moving faster to become Embedding sustainability Multiplying the positive impact a zero waste and net zero inside every one of our brands we create when we impr
Slide 46: Taylor & Francis
Taylor & Francis Taylor & Francis publishes peer-reviewed scholarly £594m £207m 3% research and specialist reference-led academic content Adj. Op. Profit in Underlying Growth Revenue in 2022 across subject areas within Humanities & Social 2022 in 2022 Sciences and Science, Technology and Medicine. I
Slide 47: Informa Markets
Informa Markets Informa Markets creates platforms for industries and specialist markets to trade, innovate and grow. Through £952m £172m 47% Adj. Op. Profit in Underlying Revenue more than 250+ major B2B brands, we provide Revenue in 2022 2022 Growth in 2022 opportunities to engage, experience and d
Slide 48: Informa Connect
Informa Connect Informa Connect is a live events, digital content specialist, connecting professionals with knowledge, £396m £56m 46% Adj. Op. Profit in Underlying Revenue ideas and opportunities. With more than 400+ Revenue in 2022 2022 Growth in 2022 brands in over 30 countries, it has particular
Slide 49: Informa Tech
Informa Tech Informa Tech informs , educates and connects £321m £62m 43% specialist Technology communities around the Adj. Op. Profit in Underlying Revenue Revenue in 2022 world. Through more than 25+ major B2B 2022 Growth in 2022 brands, we provide world-class research, training, events and media f
Slide 50: Tax Summary (Continuing Operations)
Tax Summary (Continuing Operations) 2022 2022 Tax ETR £m £m % Reported Profit Before Tax from continuing operations 168.8 26.7 Adjusted for: Intangible asset amortisation 275.3 63.4 Benefit of goodwill amortisation for tax purposes only - (13.1) Impairment – intangibles and goodwill 6.9 1.5 Impairme
Slide 51: Cash Flow Summary
Cash Flow Summary 2022 £m 2021 £m Adjusted operating profit from continuing operations 496.3 313.2 Depreciation of property and equipment 11.7 12.7 Depreciation of right of use assets 24.8 24.2 Software and product development amortisation 35.2 31.6 Share-based payments 17.5 15.0 Loss on disposal of
Slide 52: Other Adjusting Items
Other Adjusting Items 2022 2021 £m £m Intangible amortisation and impairment 281.4 282.0 Acquisition and integration costs 22.0 10.0 Restructuring and reorganisation costs (1.6) 3.2 One-off insurance credit associated with COVID19 - (23.6) Onerous contracts and one-off costs associated with COVID-19
Slide 53: Currency Sensitivity
Currency Sensitivity Average Rates Closing Rates FY 2022 FY 2021 FY 2022 FY 2021 USD 1.24 1.38 1.21 1.35 The impact of a 1 cent movement in the USD to GBP exchange rate in 2022: Revenue £13m Annual adjusted operating profit £5m Annual adjusted earnings per share 0.2p 2022 Full-Year Results Presentat
Slide 54: Balance Sheet Summary
Balance Sheet Summary 31 December 2022 31 December 2021 £m £m Intangibles and goodwill 8,853.0 8,600.6 Property and Equipment 47.9 41.5 Rights of use assets (IFRS 16) 208.0 199.3 Other non-current assets (excluding debt and leases) 405.5 75.1 Current assets (excluding cash and leases) 496.6 386.5 De
Slide 55: Sponsored ADR Programme
Sponsored ADR Programme Informa ADRs trade on the US over-the-counter (OTC) market Symbol IFJPY ISIN US45672B305 Ratio 1 ADR : 2 ORD Effective date 1st July 2013 Underlying ISIN JE00B3WJHK45 Depositary Bank BNY Mellon For any questions relating to Informa ADRs, please contact BNY Mellon Damon Rowan
Slide 56: Thank you
Thank you Informa.com