Earnings: Informa Outperforms Its Market Guidance Set At The Start of 2023, Increases Targets for 2024
March 18, 2024
Informa, the international B2B events, digital services and academic markets company (owner of TSNN, Exhibit News Now and Corporate Event News), confirmed a 30% increase in underlying revenue (excluding acquisitions and disposals) for the full-year 2023 and increase in its guidance for 2024 with more than £500m ($626m) revenue already delivered so far this year, according to its earnings statement. (Using the exchange rate of GBP/USD 1.25 on March 10)
During an investor presentation on March 8, Informa Group Chief Executive Stephen Carter (pictured right) said: ”Informa’s final results confirm further outperformance in 2023 and continuing momentum and growth in 2024.” Watch the full presentation here.
He continued: ”Strong growth in IMEA, (India, Middle East & Africa), which is emerging as a material geographic growth engine alongside the Americas, China, ASEAN and Europe, leads to updated 2024 guidance. We are expanding our platform in B2B Digital Services through the proposed combination with TechTarget.”
2023 vs. 2022: Informa reported revenue £3,189.6m ($3,997.5m) in 2023, compared with £2,262.4m in 2022, and adjusted operating profit £853.8m ($1,070.4m), compared with £496.3m ($622.2m) in 2022 — significantly ahead of market guidance set at the start of 2023, when it projected more than 20% year-on-year growth in revenue and more than 35% growth in adjusted operating profit from continuing businesses, according to its March 9, 2023 statement.
Related: Informa Reports Double-Digit Revenue Growth in 2023 and Merger With TechTarget
Looking ahead: The combination of all the above drives an increase in guidance
to reported revenue of £3,450m-£3,500m ($4,325m-$4,387m), adjusted operating profit of £950m-£970m ($1,191m-$1,203m), excluding the proposed combination with TechTarget.
International expansion in 2024: The expansion of Informa’s brand portfolios in the UAE, Kingdom of Saudi Arabia, Kingdom of Bahrain, India, Egypt and Turkey is driving strong regional growth, where there is growing demand for B2B market access, live experiences and specialist knowledge, said Carter. The company plans for organic expansion in fast growth economies, including multiple new event launches across IMEA, China and ASEAN in 2024.
Growth in Live in 2024: Informa is projecting strong underlying growth in live and on-demand events — particularly in the pharma, healthcare, technology, aviation, food and beauty sectors — combined with targeted inorganic expansion in 2023 and the prospective combination with TechTarget, total B2B revenues increase to about £3bn ($3.7bn).
Outlook for Informa Connect in 2024: Informa is expecting strong organic growth. Combined with portfolio additions from Tarsus, Winsight and Informa Tech Events, Informa Connect will increase annual revenues to more than $1 billion, delivering high-value, content-led events and subscription data to six growth markets, including biotech and life sciences, finance, foodservice, anti-aging and aesthetics, lifestyle and technology, according to Carter.
Read the full transcript of the March 8 presentation here. See the full slides from the presentation here.
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MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
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The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
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MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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