Reed Exhibitions’ Revenues Dip 4 percent in 2015
March 4, 2016
With events spread throughout the world, Reed Exhibitions was not immune to macro economic pressures last year, posting an overall revenue decrease of 4 percent, compared with the year before.
Overall revenues for Reed Exhibitions in 2015 were $1.21 billion (£857 million), a dip from $1.26 billion (£890 million) in 2014.
“Exhibitions achieved strong underlying revenue growth in 2015, albeit slightly below the prior year, reflecting the macro economic environment,” according to Reed officials. “Underlying revenue growth was +5 percent. After portfolio changes and five percentage points of cycling out effects, constant currency revenue growth was +1 percent.
The difference between the reported and constant currency growth rates reflects the impact of exchange rate movements.
Underlying adjusted operating profit growth was +2 percent. Margins were higher year on year, as total profit growth was slightly ahead of total revenue growth.
Growth in the United States was strong, although slightly below prior year, and growth in Europe was moderate, marginally ahead of prior year.
Growth in Japan remained strong, driven by new launches and strong demand across our events. China continued to see differentiated growth rates by industry sector.
Revenues in Brazil reflected the general weakness of the wider economy. Most other markets continued to grow strongly.
“We continued to pursue growth opportunities and launched 44 new events and completed 10 small acquisitions, primarily in high growth geographies and sectors,” Reed officials said.
Just a few of the acquisitions in 2015 included Legend Exhibitions, the organization behind two of Europe’s leading retail technology and retail design events; CNP Expo, for ecommerce and mobile commerce; and the African Automation Fair.
As far as how 2016 looks, Reed officials said, “We expect the 2015 underlying growth trends to continue. In 2016 we expect cycling in effects to increase the reported revenue growth rate by around 3 percentage points.
Reed Exhibitions has 500 events in 30 countries and in 2015, 7 million active event participants attended their events.
Partner Voices
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.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
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.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
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.
Add new comment