Informa plc (INF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Okay, I think we're ready. Are we live yet? We are. Okay, good morning everybody. Very nice to see everybody in the room. It's good to see there's a future in live events. And we've got a good few hundred people on the live stream. So to people on the live stream, thank you very much for joining. This morning we're going to very, at a click, I'm going to take you through the 25 results and also some observations on where the company is and more importantly where the company is going. And then we're going to get to Q&A and Gareth and I will try and answer questions both in the room and on the live stream. So 2025, a little bit of context. You don't need me to tell you that the macro is at the moment I think the easiest word to use to describe it is it's volatile. Not everywhere, but overall it certainly is. AI acceleration and the impact of AI is the subject of much debate in many locations, many industries, particularly in industries like ours where knowledge and information are being packaged and presented in ever more increasingly different ways and at a higher pace rate and speed and accuracy. Actually a big advantage for us, but nevertheless there are questions around that. We'll come to that. There's regional conflict, obviously most topically at the moment in the Middle East, but actually more broadly in other places, not least Europe, and indeed other parts of the world. Some of those things are changing trade patterns, and trade patterns are very material for our business. Actually, oftentimes the movements in trade patterns are an advantage for us because that speaks to supply chain rebalancing or security or increasing resilience or redundancy requirements, which actually suits our business perversely. Energy prices clearly are in flux and are flexing upwar...