GL events reports 77 % rise in annual revenues
Informa delivers strong trading update , with live events revenues growing 70 %
International event organiser Informa announced a strong 2022 trading update ahead of full year results due on 9 March 2023 .
The group anticipated full-year revenue growth of c . 70 % in Live Events and expects to report total revenues of more than £ 2.38bn ( US $ 2.94bn ), an adjusted operating profit of £ 530m + and free cash flow of £ 440m +.
Informa has a strengthened balance sheet after realising c £ 2.5bn of value from the sale of its Intelligence division last year .
Stephen A . Carter , group chief executive , said : “ Strong performances in both Academic Markets and B2B Markets , combined with our strengthened balance sheet , mean Informa will deliver further strong underlying growth , continuing organic investment and additional targeted expansion , alongside enhanced shareholder returns .”
The company also promised
“ strong commitment and investment in sustainable business practices ” through its FasterForward programme .
“ Whilst uncertainties prevail , Informa operates with specialist brands serving specialist markets , providing resilience and growth opportunities in the vast majority of our chosen categories ,” Carter noted , and said the company would see incremental growth from China once full return is complete , “ likely towards the back end of 2023 and into 2024 ”.
Carter said the focus will be on consolidating strengths in Live and On-Demand Events , building a position in adjacent B2B Digital Services and expanding Informa ’ s range of author and Open Research services . There would also be additional 2023 investment in recent acquisitions , Carter said , and ongoing capital returns through a £ 725m share buyback programme .
International event management and venue group GL events has reported consolidated annual revenue for the year ending 31 December 2022 totalling € 1.35bn . The figure represents a 77.4 % jump from the 2021 total and is also 12 % up on the pre-Covid 2019 figure . Q4 2022 revenue was up 68 % from 2021 and 58 % from 2019 at € 510.5m .
Increases in revenues from Europe and the Americas have more than offset the decline in Asia , the Group noted in its financial statement . It acknowledged being adversely impacted by lockdown measures in force in China during the period .
Olivier Ginon , chairman-CEO of GL events Group , commented : “ GL events delivered a record performance in 2022 , exceeding all expectations .” Ginon added that international markets now accounted for 55 % of total revenue and noted the Group had reinforced its ESG policy and issued its first Sustainability-Linked bond .
For the full year , business volume for the GL events Live division is now up above 2019 levels , while the Venues division ended the year nearly back in line with its 2019 performance . As for the Exhibitions division , it was adversely impacted by China , the slower recovery of international exhibitions and an unfavourable biennial effect which led to a 4 % decline in revenues to € 138.5m for 2022 .
GL events Exhibitions had € 39.8m in revenue in Q4 2022 , marginally up 0.6 % from the same period in 2021 . There were notable contributions of two exhibitions , Piscine Global Europe 2022 and the 19th China Association of Clinical Laboratory Practice Expo ( CACLP ).
The Group has maintained its financial targets for operating cash flow generation of more than € 100m and continuing debt reduction .
www . exhibitionworld . co . uk Issue 1 2023 35