ERM Euromoney Institutional Investor Plc

TIDMERM

RNS Number : 6448N

Euromoney Institutional InvestorPLC

01 October 2021

1 October 2021

EUROMONEY INSTITUTIONAL INVESTOR PLC

Trading Update

Euromoney Institutional Investor PLC ("Euromoney" or the "Group"), the global B2B information services provider of price discovery, essential market intelligence and events, today announces a trading update in respect of the year ending 30 September 2021.

Adjusted profit before tax for the full year ending 30 September 2021 is expected to be significantly ahead of analysts' expectations(1) before the impact of IAS 38.

This reflects continuing strong growth in subscriptions in Pricing, Data & Market Intelligence, especially People Intelligence, and the continuing turnaround in Asset Management. In events, we have performed in line with our expectations at Q3. Other revenues, which includes research and thought leadership, also continued to perform strongly.

Euromoney's financial position remains strong. Net cash at the end of August 2021 was GBP34.7m.

Following recent new guidance on IAS 38, the Group is reviewing its policy on accounting for software as a service-related IT development. We expect this to result in an additional c.GBP4m charge to the income statement in FY 2021 as certain software costs can no longer be capitalised as intangible assets and amortised.

We have continued to build momentum in FY 2021 underpinned by the strength of our subscriptions performance. While the timing of the recovery in physical events remains uncertain, we are making good progress towards being a fast-growing, high-margin, 3.0, information-services subscription business.

We will provide a more detailed update at Euromoney's full year results which will be announced on 18 November 2021.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014.

Footnotes:

(1) Analyst consensus of adjusted profit before tax of GBP57.5m for FY 2021; see https://www.euromoneyplc.com/investors/analyst-consensus for more detail

For further information, please contact:

Euromoney Institutional Investor PLC

Wendy Pallot, Chief Financial Officer: +44 20 7779 8866; wendy.pallot@euromoneyplc.com

Christian Cowley, Investor Relations: +44 (0)7408 863420; christian.cowley@euromoneyplc.com

FTI Consulting

Jamie Ricketts / Tom Blundell / Lucy Highland: +44 20 3727 1000; euromoney@fticonsulting.com

NOTE TO EDITORS

Euromoney Institutional Investor PLC ("Euromoney") is a global information services business providing essential B2B information in price discovery, market intelligence and events across our segments. Euromoney is listed on the London Stock Exchange and is a member of the FTSE 250 share index. (www.euromoneyplc.com)

CAUTIONARY STATEMENT

This Trading Update ("Statement") and all information included in it is based on the knowledge and information available to the Board of Directors at the date it was prepared and therefore facts stated and views expressed may change after that date.

This document and any materials distributed in connection with it may include forward-looking statements, beliefs, opinions or statements concerning risks and uncertainties, including statements with respect to the Group's business, financial condition and results of operations. Those statements and statements which contain the words "anticipate", "believe", "intend", "estimate", "expect" and words of similar meaning, reflect the Company's Directors' beliefs and expectations and involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and which may cause results and developments to differ materially from those expressed or implied by those statements and forecasts. No representation is made that any of those statements or forecasts will come to pass or that any forecast results will be achieved. You are cautioned not to place any reliance on such statements or forecasts. Those forward-looking and other statements speak only as at the date of this Statement. The Group undertakes no obligation to release any update of, or revisions to, any forward-looking statements, opinions (which are subject to change without notice) or any other information or statement contained in this Statement. Furthermore, past performance of the Group cannot be relied on as a guide to future performance.

No statement in this document is intended as a profit forecast or a profit estimate and no statement in this document should be interpreted to mean that earnings per Euromoney Institutional Investor PLC share for the current or future financial years would necessarily match or exceed the historical published earnings per Euromoney Institutional Investor PLC share.

Nothing in this document is intended to constitute an invitation or inducement to engage in investment activity. This document does not constitute or form part of any offer for sale or subscription of, or any solicitation of any offer to purchase or subscribe for, any securities nor shall it or any part of it nor the fact of its distribution form the basis of, or be relied on in connection with, any contract, commitment or investment decision in relation thereto. This document does not constitute a recommendation regarding any securities.

LEI Number: 213800PZU2RGHMHE2S67

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