9th Oct 2024 09:20
(Alliance News) - Informa PLC on Wednesday reconfirmed its 2024 guidance, as it noted the strengthened platform of its live business-to-business events amid its acquisition of Ascential PLC.
The London-based business information publisher and events organiser said, following "growth, focus and reinvestment" in recent years for its Live & On-Demand B2B Events, B2B Digital Services and Academic Markets, it expects to enter 2025 with revenue of GBP4.00 billion, which would be 25% higher than GBP3.19 billion in 2023, which it had reported in March this year.
Further, Informa expects more than 5% underlying revenue growth.
Informa intends to update its business-to-business operating model in 2025 to "take full advantage of future growth opportunities" within the market.
The company's new Informa Festivals business is due to be rolled out on January 1, 2025, which involves experience-led events celebrating business through professional development and personal enrichment. It will also include Ascential's Cannes Lions and Money 20/20 event businesses.
Informa's GBP1.2 billion takeover of Ascential, a London-based organiser of events for marketing and technology sectors, received a court sanction on Tuesday and has begun to be implemented. Ascential shares were delisted from the London Stock Exchange on Wednesday morning.
The company also said it expects its proposed combination of Informa Tech's digital business with New York-listed TechTarget to complete in the fourth quarter of this year. It noted that long-term growth in enterprise technology and use of business-to-business digital services was "strong", despite subdued market momentum.
Taylor & Francis, an academic market division of Informa, is on track to deliver strong double-digit underlying growth, with revenue as a mixture of underlying recurring revenue through to 2027 and "significant" in-year revenue in 2024.
Informa said it remains on track to deliver its previously upgraded full-year guidance for calendar 2024, which included revenue of more than GBP3.50 billion and adjusted operating profit between GBP970 million and GBP1.0 billion. This would be a 9.7% increase from the GBP3.19 billion in revenue reported at the end of financial 2023, and between a 14% to 17% rise from its GBP853.8 million adjusted operating profit in 2023.
Chief Executive Officer Stephen Carter said: "The completion of the Ascential acquisition, creation of Informa Festivals and prospective creation of Informa TechTarget will establish leadership and scale in all our chosen business-to-business market segments, complementing our strength in academic markets and creating a platform for growth from 2025 to 2030.
"Over the last few years, our strategy has been to build further strength and depth in B2B businesses, targeting new growth opportunities as the live B2B events market segments and becomes increasingly sophisticated, and B2B digital services mature."
Shares in Informa were up 1.8% at 815.80 pence each in London on Wednesday morning.
By Emily Parsons, Alliance News reporter
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