It has been a busy few weeks for finance teams and analysts as they crunch the numbers to reveal how exhibition and conference organisers performed for the first-half of 2015.
Results show emerging markets provided a bright spot for most organisers, with south east Asia a popular choice for acquisitions.
Meanwhile, smaller, less profitable events were targets for rationalisation programmes at groups including UBM and Centaur Media.
Here’s our wrap-up of the most recent results for:
- Centaur Media
- Informa
- ITE Group
- RELX Group
- Tarsus
- UBM
Centaur Media:
Centaur Media reported a 10 per cent drop in revenue for the first half of 2015, falling from £40.8m (US$63.5m) in 2014 to £36.8m in its unaudited results.
The group also posted a sharp decline in pre-tax profit, which dropped from £13.8m in 2014 to £4.2m.
However, when adjusted for event phasing and the disposal of information service Perfect Information, the group’s underlying revenue grew 3 per cent, while adjusted pre-tax profit for the half was down a more modest 14 per cent to £5.7m.
The group reported its live events portfolio, which earned £14.7m, had underlying growth of 2 per cent, with exhibition revenue up 5 per cent and forward bookings for the second-half of 2015 up 29 per cent.
Exhibitions contributed £8.2m to the group’s live events portfolio, one of the company’s core revenue streams.
Centaur reported results from smaller events in marketing, financial services and HR portfolios were disappointing, with revenue down 5 per cent.
“The group is taking steps to address this with greater focus across the commercial teams, further product rationalisation and strengthening of content,” the statement said.
Centaur Media chief executive Andria Vidler said: “In the first six months of 2015, we have continued to build on the initiatives that we introduced through 2014.
“Momentum in digital paid-for content revenues remains strong, our exhibitions have performed well with encouraging forward bookings, and advertising revenues have stabilised.
“While it is still early in the booking cycle for live events running later this year, we are looking forward to the second half of 2015 with confidence.”
Centaur will pay an interim dividend of £0.015
Informa:
Business publisher and exhibition organiser Informa reported its first-half revenue rose 8.6 per cent to £618.8m, (US$964.8m) with the business’s global exhibition portfolio a standout performer contributing to a pre-tax profit of £121.9m, up from £100.2m.
Informa’s share price rose almost 7 per cent after the announcement.
Informa group chief executive Stephen Carter said the group’s underlying revenue growth of 2 per cent reflected its two strongest performing businesses; global exhibitions and academic publishing. Click to read more.
RELX Group:
RELX Group, parent company of organiser Reed Exhibitions, reported its first-half revenue increased 4 per cent to £2.96bn in 2015, up from 2.85bn in 2014.
First-half profit before tax slipped 1 per cent to £601m, however the group posted its adjusted pre-tax increased 5 per cent to £834m.
Chief executive Erik Engstrom said: “The key drivers in our business remain positive, and we are confident that we will deliver another year of underlying revenue, profit, and earnings growth in 2015.”
Exhibition revenue of £473m for the first-half was down 3 per cent from £490m in 2014, but had underlying growth of 6 per cent when adjusted for exchange rates, cycling and timing movements.
Within its exhibition portfolio, the group reported underlying revenue growth trends would continue, but at lower levels than in previous years.
“In full year 2015 we expect cycling out effects to reduce the reported revenue growth rate by around 4 percentage points,” the statement said.
US portfolio growth was marginally lower than in 2014, the group reported, but growth in Japan was strong, boosted by new launches and strong demand across major events.
The group launched 20 new events in the first half of 2015, including the US-based Jewelers International Showcase.
Meanwhile, revenue from Brazil was affected by a slowdown in the country’s economy.
In the second-half of 2015, the group plans to carry out a further share buyback of £200m.
RELX Group will pay an interim dividend of £0.074 per share.
ITE Group:
ITE Group announced its third-quarter dip in profits was in line with expectations, as the company prepared to take a majority stake in one of India’s largest privately owned exhibition organisers.
The group’s revenue of £58m (US$90.34m), for the three months ending 30 June 2015 (2014: £73m), fell 17 per cent on a like-for-like basis compared to the same period last year.
Officials said the dip was in line with expectations, reflecting challenging trading conditions in Russia and weakness of the Euro and Ruble against the Pound. Click to read more.
Tarsus Group:
UK-based organiser Tarsus Group announced first-half revenue of £34m (US$53m), up from £23.1m, with a record adjusted pre-tax profit of £5.5m, as the business focuses on expanding into emerging markets.
Group officials said the business had made good progress to strengthen its portfolio of events, with organic revenue up 14 per cent, when adjusted for biennial exhibitions, and visitor numbers across the portfolio up nine per cent. Click to read more.
UBM
UBM announced it remains confident in its 2015 outlook, despite reporting the cancellation of 37 events and a first-half pre-tax profit fall of 37.2 per cent.
The UK-based company has posted a pre-tax profit of £47.6m (US$74.1m), down from £75.8m in 2014, for the six months to 30 June 2015.
UBM reported its first-half revenue increased 26.3 per cent to £456m, up from £214.2m year-on-year, boosted by the acquisition of US-based event and marketing service Advanstar and favourable exchange rates. Click to read more.
