International B2B Events and specialised data group Informa has published a trading update, confirming an increase in full year expectations.
The group reports strength and momentum across the portfolio, with a 10-month group underlying revenue growth of 31.7%. This has led to an increase in 2023 full year expectations to revenues of £3.15bn+ (from £3.05bn) and Adjusted Operating Profit of £840m+ (from £790m).
Full year revenues expected to exceed 2019 pre-covid levels in North America, South America, ASEAN, the Middle East, Europe and China.
Similarly, growth is reported in all major market categories in 2023, with particularly strong performances in Healthcare (Arab Health, Medlab), Health & Nutrition (Natural Products Expo West, Supplyside West), Pharma (CPhI Worldwide, CPhI China), Beauty (China Beauty Expo) and Luxury (Fort Lauderdale International Boat Show, Art Miami, Monaco Yacht Show).
The group reports technology enabling better matchmaking between buyers and sellers, on-demand access to content and data supporting faster decision making.
Stephen Carter, Informa’s Group chief executive, said: “We are confirming an upgrade to revenue and profit in 2023 and extending our share buyback programme to £1.15bn. In 2024, our task is to continue to improve our product and service offering, grow organically, and use our cash flows and balance sheet to seize opportunities to build and buy further scale.”
The financial report did note the ongoing conflict and macro-economic challenges in some countries, including heightened inflation, higher interest rates and variable demand, is creating a degree of market uncertainty and volatility.
The Tarsus business has continued to perform well post-acquisition ($940m valuation), delivering 65% underlying revenue growth through the period to date, with strong performances in Healthcare (Health Connect Partners), Anti-Aging & Aesthetics (A4M Spring Congress) and Aviation (Dubai Airshow).
Alongside operational delivery, Informa says it has focused on combining the Tarsus businesses and brands with Informa, a process that it says is now largely complete. This sees c.60% of Tarsus’ 2024 revenue included within Informa Markets (including all major biennial events), with c.40% combined into Informa Connect, where the group sees increasing opportunities for differentiated high value, branded, specialist professional content-led B2B events (eg SuperReturn, Bio-Europe, IM Power, A4M).
Post the addition of Tarsus and Winsight brands, the business is generating more than £600m of annual revenue, split broadly two thirds Live & On-Demand Events and one third Digital Services, with 70%+ of revenue generated in North America.
All major market categories are reported to be performing well in 2023, including Finance (SuperReturn, SuperInvestor) Life Sciences (Bio-Europe, Biotech Showcase), Foodservice (National Restaurant Show, FSTEC), Anti-Aging & Aesthetics (Anti-Aging World Congress, A4M Winter Congress) and Pop Culture (FanExpo Canada, Megacon Orlando).