TIDMINF
RNS Number : 3184Z
Informa PLC
10 January 2024
Informa LEI: 5493006VM2LKUPSEDU20
Informa PLC Full Year Trading Update
10 January 2024
Strong 2023 performance, further growth in 2024
Continuing organic and inorganic opportunities provide strong
outlook for the year ahead
Informa (LSE: INF.L), the international B2B Events, B2B Digital
Services and Academic Markets Group today issued a trading update,
confirming a strong performance in 2023 and confidence of further
growth in 2024, whilst separately announcing the combination of
Informa Tech's digital businesses with US-based TechTarget to
create a leading platform in B2B Digital Services.
Stephen A. Carter , Group Chief Executive, said:
"Informa delivered a standout performance in 2023 and we are committing
to further strong growth in 2024."
==================================================================================
Key Highlights
-- 2023 performance... Informa expects (subject to audit) to
report 2023 Underlying Revenue Growth of c.30% , Reported R evenue
of GBP3,165m+ , Adjusted Operating Profit of c.GBP845m and Free
Cash Flow of GBP600m+;
-- Growth drivers for 2024. ..
-- Structural growth ...Live & On-Demand B2B Events and Specialist Knowledge
-- International reach... Strength in the US and rapidly
expanding economies in the Middle East, China and Asia
-- High growth B2B markets... eg Pharma, Healthcare, Technology,
Health & Nutrition, Beauty and Aviation
-- Revenue visibility... GBP1bn+ in subscriptions and other recurring booked revenues
-- Disciplined Balance Sheet... c.1.4x leverage at end 2023
-- 2024 Market guidance. ..2024 guidance targets high single
digit Underlying Revenue Growth, with Reported Revenue of
GBP3,425m-GBP3,475m and Adjusted Operating Profit of
GBP945m-GBP965m (excluding any effect of the proposed combination
with TechTarget; GBP/USD 1.25);
-- Growing Shareholder Returns... The strong operating
performance delivers improving shareholder returns, with GBP1.06bn
of the GBP1.15bn current Share Buyback Programme completed by
year-end and a 2023 dividend confirmed at 18p, +80%
year-on-year;
-- The Power of B2B... Major Live & On-Demand brands, rich
specialist B2B content and additional Digital Services, are
delivering volume and value growth across Informa Markets, Informa
Connect and Informa Tech, leading to c.40% aggregate underlying
revenue growth in 2023 and a target of high single digit growth in
2024 (excluding any effect of the proposed combination with
TechTarget);
-- Acceleration in B2B Digital Services... Today we have
announced the combination of Informa Tech's digital businesses with
US-based TechTarget, creating a leading platform in B2B Digital
Services, underpinned by IIRIS, Informa's first party data
platform, complementing the Group's leadership position in Live and
On-Demand B2B Events. Post completion in H2 2024, this combination
will take annual B2B revenues to c.GBP3bn ;
-- Academic Strength... Acceleration in Open Research volumes
and other Pay-to-Publish Services, combined with underlying
strength in Pay-to-Read Subscriptions underpins our 2024 underlying
revenue growth target of c.4%, following a c.3% growth performance
in 2023.
New Informa Group PLC: Focus, Scale and Growth
The strong performance of our businesses over recent years,
combined with the benefit of inorganic investments, including
today's proposed combination with TechTarget, strengthens Informa's
operating model:
Investor Presentation
Informa PLC
Informa will host an investor presentation at 11am UK time on 11
January 2024, focusing on its strong trading performance in 2023,
the outlook for 2024, and today's announcement on TechTarget. This
will be held in person at its offices at 240 Blackfriars, London,
SE1 and webcast live via www.informa.com , hosted by Group Chief
Executive, Stephen A. Carter, and Group Finance Director, Gareth
Wright. They will be joined by the Informa Tech CEO , Gary Nugent
and TechTarget Chief Executive, Michael Cotoia .
The live webcast can be accessed via www.informa.com or via
https://brrmedia.news/INF_CU24 .
For those participants that would like to ask questions, the
dial in is as follows:
Password if prompted: Informa Update
UK: 0808 109 0700 or +44 (0)330 551 0200
Enquiries
Stephen A. Carter , Group Chief Executive +44 (0) 20 8052 0400
Gareth Wright, Group Finance Director +44 (0) 20 8052 0400
Richard Menzies-Gow, Director of IR
& Communications +44 (0) 20 8052 2787
+44 (0) 7583 413254 / +44
Tim Burt / Simon Duke - Teneo (0) 7815 779225
------------------------------------------ -------------------------
Additional Information and Where to Find It
In connection with the proposed transaction (the "proposed
transaction") between Informa and TechTarget, TechTarget CombineCo,
Inc. ("NewCo" or, after the completion of the proposed transaction,
"New TechTarget") and TechTarget will prepare and file relevant
materials with the Securities and Exchange Commission (the "SEC"),
including a registration statement on Form S-4 that will contain a
proxy statement of TechTarget that also constitutes a prospectus of
NewCo (the "Proxy Statement/Prospectus"). A definitive Proxy
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IT BECOMES AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS THAT ARE
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AS ANY AMMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, IN CONNECTION
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and does not constitute an offer to sell or the solicitation of an
offer to buy any securities, or a solicitation of any vote or
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considering the various closing conditions; the expected benefits
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Important factors that could cause actual results to differ
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fluctuations on TechTarget's and the relevant portion of the
Informa Tech business's results; and other matters included in
TechTarget's filings with the SEC, including in Item 1A of its
Annual Report on Form 10-K for the year ended December 31, 2022 and
its Quarterly Report on Form 10-Q for the quarter ended September
30, 2023. These risks, as well as other risks associated with the
proposed transaction, will be more fully discussed in the Proxy
Statement/Prospectus that will be included in the registration
statement on Form S-4 that will be filed with the SEC in connection
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here is, and the list of factors to be presented in registration
statement on Form S-4 will be, considered representative, no such
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END
TSTBBLLFZFLZBBB
(END) Dow Jones Newswires
January 11, 2024 02:00 ET (07:00 GMT)
Informa (LSE:INF)
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