Slide 1: 2023 Half-Year Results: Accelerating Growth in B2B Events, Specialist Data & Digital Services
2023 Half-Year Results Accelerating Growth in B2B Events, Specialist Data & Digital Services 27 July 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: Global Perspectives
Global Perspectives Geo-political Uncertainty Geo-political Change Heightened Inflation Inflation Stabilising? Higher Interest Rates Interest Rates Peaking? Mixed Growth Positive Growth 2023 Half-Year Results 3
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: Global Perspectives
Global Perspectives Knowledge & Information Economy Trends Technology Innovation Geo-political Uncertainty Geo-political Change & Data Heightened Inflation Increased Specialisation Inflation Stabilising? Value of Live Experiences Interest Rates Peaking? Higher Interest Rates & Interactions Importanc
Slide 6: Champion the Specialist
Champion the Specialist Connecting people. Connecting knowledge. Connecting ideas B2B Markets & Digital Services Pharma Beauty & Health & Fintech & Life Sciences Food Artificial Cyber Gaming Packaging Aviation Healthcare Aesthetics Nutrition Investment & Biotech Service Intelligence Security Academi
Slide 7: Informa Group, a leader in Market Specialisation
Informa Group, a leader in Market Specialisation 2014 - 2019 2020 - 2021 Growth Stability & Acceleration Plan Security …& Accelerated …& The Transition Year Integration Plan Depth in Specialist Markets, International Breadth, Diversified Growth 2023 Half-Year Results 7
Slide 8: 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 9: Growth and Re-acceleration
Growth and Re-acceleration 2023 estimates from company compiled consensus Reported Revenue (£m) Underlying Revenue Growth (%) Adjusted Operating Profit (£m) 3,500 +22% CAGR 35.0 31.4 1,200.0 2,993 +22% CAGR +42% CAGR +21% CAGR 2,890 933 3,000 30.0 1,000.0 2,370 2,389 23.0 771 2,500 25.0 800.0 732 1,
Slide 10: H1 2023 Growth Acceleration
H1 2023 Growth Acceleration +63.8% +18.5% +7.4% +50.0% +3.3% Underlying revenue growth Underlying revenue growth Underlying revenue growth Underlying revenue growth Underlying revenue growth Underlying Underlying Adjusted Revenue Adjusted Diluted Earnings Free Cash Dividends Growth Operating Profit
Slide 11: H1 2023: Accelerating Growth and Forward Momentum
H1 2023: Accelerating Growth and Forward Momentum GROWTH + Strong growth in revenue (+53%), adjusted operating profit (+103%) and free cash flow (+63%) MARGIN + Significant increase in half-year operating margin (+670bpts), ahead of previous full year guidance BALANCE SHEET + Significant balance she
Slide 12: Financial Performance & Capital Allocation
2023 Half-Year Results Financial Performance & Capital Allocation Gareth Wright Group Finance Director
Slide 13: 2023 Half-Year Results: Accelerating Growth
2023 Half-Year Results: Accelerating Growth Revenue Underlying Revenue ✓ Strong First Half delivery £1,521m +53.0% yoy Growth 31.9% ✓ Accelerating growth and operating discipline (H1 2022: £994m) (H1 2022: 43.9%) combine to deliver improved profitability Adjusted Operating Profit Adjusted Diluted EP
Slide 14: Accelerating Growth & Financial Delivery
Accelerating Growth & Financial Delivery Continuing Operations: H1 2023 H1 2022 £m £m Strong Revenue Growth • Reported revenue growth of 53.0% and Underlying Revenue 1,520.5 993.5 growth of 31.9% Adjusted Operating Profit 413.5 203.8 Adjusted Operating Margin 27.2% 20.5% Growing Adjusted Operating P
Slide 15: Strong underlying growth in all Divisions
Strong underlying growth in all Divisions H1 2023 H1 2022 Reported Underlying Informa Markets…Strong Growth £m £m % % • Full return of Live and On-Demand B2B Events in all Revenue regions and markets Informa Markets 758.9 421.4 80.1 63.8 Informa Connect 250.5 174.5 43.6 18.5 • Strong operating lever
Slide 16: Accelerating Revenue and Profit Growth
Accelerating Revenue and Profit Growth H1 2023 Continuing Revenue Growth (%) 53.0% Reported Growth H1 2023 Continuing Adjusted Operating Profit Growth (%) 102.9% Reported Growth 2023 Half-Year Results * All numbers are based on Continuing Operations 16
Slide 17: Strong Operating Leverage
Strong Operating Leverage Improving Operating Margin • Accelerating Underlying Revenue Growth • Improving operating performance • Margin enhancing additions of Tarsus and Winsight • Margin uplift from biennial events • H1 Events weighted to high margin Tier 1 brands 670bps Strong revenue growth an
Slide 18: Growing Adjusted Operating Margin
Growing Adjusted Operating Margin Return to c30% Adjusted Operating Margins Improving Operating Margin 32.3% • Expansion in operating margin in 2023, reflecting c30% c28% strong revenue growth, operating leverage and c26% biennial ‘up year’ 21.9% • Further expansion of operating margin in 2024 19.8%
Slide 19: Balance Sheet Flexibility
Balance Sheet Flexibility Debt maturities at 27 July (£m)1 Strong cash delivery ⚫ EMTN £550m+ Free Cash Flow expected in 2023 1600 ⚫ RCF drawn 1400 --- RCF Undrawn No group level financial covenants ⚫ Bank 1200 Average debt maturity 3.3 years1 1000 Debt secured on fixed rates c.3.2% 1 800 600 Tracki
Slide 20: Capital Allocation Discipline
Capital Allocation Discipline • Share Buyback Programme launched on 14 February 2022 Commitment raised to £725m through 2022 and to £1bn in March 2023 • 136m+ shares repurchased and cancelled at average price of 614p • c.£845m completed by 26 July 2023 with programme likely to run to Q4 2023 £1bn
Slide 21: Capital Allocation Discipline
Capital Allocation Discipline 2022 Divestments 2023 Acquisitions1 Pharma Intelligence (Citeline) for £1.8bn April 2023 Tarsus for $940m Maritime Intelligence (Lloyd’s List) for £377m May 2023 Winsight for $380m Fund Flow Intelligence (EPFR) for £165m July 2023 Canalys Total value £2.5bn, post-tax ca
Slide 22: Strong Forward Visibility
Strong Forward Visibility H2 2023 H1 2024 2023 Subscription Revenues Live & On-Demand Bookings Live & On-Demand Visibility 85%+ 90%+ c70% Informa Markets H2 exhibitor revenue already booked Subscription revenue secured Informa Markets H1 2024 exhibitor revenue booked* Strong forward visibility of re
Slide 23: Accelerating Financial Growth and Returns
Accelerating Financial Growth and Returns Underlying revenue growth acceleration Growing adjusted operating margin Strong growth in Earnings per Share Strong growth in Dividends per Share Disciplined capital allocation Full year revenue and operating profit at top end of guidance 2023 Half-Year Resu
Slide 24: Accelerating Growth in B2B Events, Specialist Data & Digital Services
2023 Half-Year Results Accelerating Growth in B2B Events, Specialist Data & Digital Services Stephen A. Carter Group Chief Executive 24
Slide 25: The Informa Group
The Informa Group Operating Division Specialist Markets Post GAP 2 Growth Ambition Transaction-led B2B Events & Digital/Data Services 5%+ Underlying Revenue Growth 30%+ Adj Operating Profit Margin B2B Content-led B2B Events & Digital/Data Services 4%+ Underlying Revenue Growth 20%+ Adj Operating Pro
Slide 26: B2B Market Growth: Strong underlying market growth
B2B Market Growth: Strong underlying market growth Market Expansion Brand visibility Specialist knowledge and connections Increasing value of high-quality live interactions Product launches 34.7 +20% 40.6 Sales & Lead Generation Qualified business development Remote working 2017 2022 Market Research
Slide 27: B2B Market Growth: International B2B Hubs and Centres
B2B Market Growth: International B2B Hubs and Centres Toronto Hannover Frankfurt Paris Chicago Milan Las Vegas Madrid Bologna Beijing New York Anaheim Barcelona Monaco Tokyo San Diego Shanghai Orlando Bahrain New Delhi Guangzhou Miami / Ft Lauderdale Riyadh Dubai Shenzhen Mumbai Mexico City Abu Dhab
Slide 28: B2B Market Growth: Venue Investment
B2B Market Growth: International B2B Hubs and Centres – Venue Investment ASEAN & India Expansion North America Expansion • New Delhi: +140k sqm • Las Vegas: +160k sqm • Mumbai: +25k sqm • Denver: +50k sqm • Jakarta: +10k sqm • Atlanta: +55k sqm • Bangkok: +45k sqm • Milwaukee: +20k sqm • Hanoi: +50k
Slide 29: B2B Market Growth: Aviation Routes, Seats and Revenue
B2B Market Growth: Aviation Routes, Seats and Revenue Growing global flight capacity Accelerating return of business travel Airline Capacity and Seats per Movement Global Business Travel Spend (USD bn) TOTAL CAPACITY 150 1,600 158 1,472 SOUTH AMERICA 149 1,431 1,399 163 1,400 1,299 5.2% PACIFIC 103
Slide 30: Specialist Brands in Attractive Specialist Markets
Specialist Brands in Attractive Specialist Markets Fragmented High Value International Structural Digital & Specialist Market Selection of B2B Brands Age Market Product Market Growth Data Healthcare & Pharmaceuticals ✓✓ ✓✓✓ ✓✓✓ ✓✓✓ ✓✓✓ 35+ Infrastructure, Construction & Building ✓✓✓ ✓✓ ✓✓ ✓✓ ✓✓ 45+
Slide 31: Market Specialisation: Further Depth in Specialist B2B Markets
Market Specialisation: Further Depth in Specialist B2B Markets Foodservice Tech: Channels / Mobility Packaging / Healthcare / Aviation / Beauty • Acquisition of Winsight expands • 5 years investment has built Omdia into • Acquisition of Tarsus for $940m position in B2B Foodservice category leader in
Slide 32: Academic Market Growth: Expansion in Research & Development
Academic Market Growth: Expansion in Research & Development OECD Spending on Research & Development Thirst for 1,600 Growing research output knowledge USD bn 1,500 Research 3.5% CAGR Technology innovation globalisation 1,400 Shift to Subject specialisms Shift to Open Access 1,300 Open Access 1,200 I
Slide 33: Taylor & Francis: Improving Growth, Diversified Services
Taylor & Francis: Improving Growth, Diversified Services Underlying Revenue Growth Customer & Market-led Product, Data & Tech Online Articles Downloaded 3.3 7% CAGR 3 25% CAGR 2014 - 2019 2020 - 2021 2021 - 2024 2.4 2.4 2.2 Growth Stability & Growth Acceleration Plan Security Acceleration Plan 2 • O
Slide 34: Taylor & Francis: Improving Quality of Earnings
Taylor & Francis: Improving Quality of Earnings from Diversified Service Offer 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: Prod
Slide 35: The Power and Potential of Artificial Intelligence at Informa
The Power and Potential of Artificial Intelligence at Informa • AI already deployed throughout Informa in Content indexing Live speech to text Long/Short-form content a variety of products and services and classification conversion/translation creation via ChatGPT Content Video to text Enhanced vali
Slide 36: Continuous Performance Improvement
Continuous Performance Improvement 2022 Full Year Results 9 March 2023 • Revenue: £2,750m – £2,850m • Adjusted Operating Profit: £675m – £725m • Operating Margin increase by 250bpts+ • 2023 operating ambitions: • Academic Markets 3%+ underlying revenue growth • B2B Markets: Strong double-digit under
Slide 37: Continuous Performance Improvement
Continuous Performance Improvement 2022 Full Year Results 2023 AGM 9 March 2023 15 June 2023 • Revenue: £2,950m – £3,050m • Revenue: £2,750m – £2,850m • Adjusted Operating Profit: £750m – £790m • Adjusted Operating Profit: £675m – £725m • Implied Operating Margin increase • Operating Margin increase
Slide 38: Continuous Performance Improvement
Continuous Performance Improvement 2022 Full Year Results 2023 AGM 2023 H1 Results 9 March 2023 15 June 2023 27 July 2023 • Revenue: £2,950m – £3,050m • Revenue: £2,750m – £2,850m • Revenue: £3,050m± • Adjusted Operating Profit: £750m – £790m • Adjusted Operating Profit: £675m – £725m • Adjusted Ope
Slide 39: Further Growth and Acceleration in 2024 and Beyond
Further Growth and Acceleration in 2024 and Beyond Volume Growth 2023 Full Year Delivery Dividend Value Growth Growth Top-end of guidance on Revenue and Profit Strong forward visibility Further growth in 2024 and 2025 Inorganic Diversified GAP 2 Acceleration Growth Growth Higher quality, faster grow
Slide 40: Appendix
@} informa Appendix
Slide 41: ESG
ESG Faster to Zero Moving faster to become a zero waste and net zero carbon business A- No 1 AA 2022 rating In our sector 2023 rating Faster to Zero Sustainability Inside Impact Multiplier United Nations Sustainable Development Goals • CarbonNeutral® Company certification for 4th • 60%+ of Top 100 B
Slide 42: 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 43: 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 44: 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 45: 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 46: Adjusting Items
Adjusting Items H1 2023 H1 2022 £m £m Intangible amortisation and impairment 150.5 137.0 Acquisition and integration costs 39.6 4.9 Restructuring and reorganisation costs 0.3 (2.6) Onerous contracts and one-off costs associated with COVID-19 - 0.7 Fair value (gain) on contingent consideration (78.8)
Slide 47: Currency Sensitivity
Currency Sensitivity Average Rates Closing Rates H1 2023 H1 2022 H1 2023 H1 2022 USD 1.23 1.30 1.26 1.21 The impact of a 1 cent movement in the USD to GBP exchange rate in 2023: Annual revenue £16.0m Annual adjusted operating profit £5.9m Annual adjusted earnings per share 0.5p 2023 Half-Year Result
Slide 48: 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 49: Thank you
Thank you Informa.com