Ascential plc, the specialist information, analytics, eCommerce optimisation and events company, has announced results for the year ended 31 December 2021 and events have once again started to contribute to the bottom line.
Total company revenues for 2021 were £349.3m (US$466.1m) compared to the 2020 figure of £229.9m). The adjusted EBITDA was £88.9m (2020: £21.7m). The contribution from events was £46m in 2021, up from £3m in 2020.
The company reported continuing operating loss of £26.7m (2020: loss of £171.3m).
CEO Duncan Painter (pictured) commented: “Ascential’s agility has been key to its successful transformation over the past seven years, maximising opportunities across the company and driving value from our rapidly growing digital commerce products. This formula has helped shape our strong performance in 2021.”
Painter said 2022 had started well, noting that, “Although Covid-19 is likely to continue to present challenges to our event products, the return of Money20/20 US has demonstrated that we can swiftly achieve full financial recovery.”
Performance highlights included structural digital growth trends, market-leading positions and strong operational execution driving progress in both Digital Commerce (revenue up 33% on a proforma basis) and Product Design (up 7% on an organic basis, with subscription billings up 10%) Painter explained.
Ascential noted a “robust return” of the Lions awards benchmark, held fully digitally in response to prior Covid-related travel restrictions, with the physical Cannes Lions festival scheduled to return in 2022.
There had been a “Strong return of Money20/20 particularly the US edition in October 2021, which delivered 98% of the 2019 revenue level, with further upside expected as more major clients return,” the financial report noted.
The company also reported continued execution of M&A strategy: seven acquisitions added to its Digital Commerce capabilities and their expanded relevance to the total addressable market. They were funded through “disciplined portfolio management, such as the disposal of Built Environment & Policy and MediaLink supplemented by a successful equity placing”, according to the report.
