Euromoney - Trading Statement

EMBARGOED FOR RELEASE 7am SEPTEMBER 24 2013

EUROMONEY INSTITUTIONAL INVESTOR PLC

PRE-CLOSE TRADING UPDATE

Euromoney Institutional Investor PLC ("Euromoney"), the international online information and events group, today issues a pre-close trading update ahead of the announcement of its results for the year to September 30, 2013.

Trading

Since issuing its Interim Management Statement (IMS) on July 25, 2013, trading has continued in line with the board's expectations. The recovery in US markets, and in particular in the profitability of US financial institutions, has continued, while European markets have remained weak and emerging markets have settled down after the uncertainty earlier in the summer.

Revenues for the fourth quarter are expected to show a headline increase of 9% on the same period last year, and an underlying increase, excluding acquisitions, of 5%. The improvement in advertising highlighted in the July IMS has continued, with advertising revenues returning to growth for the first time in two years. Underlying subscription revenues, excluding acquisitions, increased by 4%, helped by the reversal of timing differences from the third quarter.

Total revenues for the year to September 30, 2013 are expected to show a headline increase of approximately 2% on 2012, of which half has come from acquisitions.

Exchange rate movements have not had a significant impact on headline or underlying revenues.

The group expects to announce an adjusted profit before tax* of not less than £114 million for the year to September 30, 2013 (2012: £106.8 million) including a contribution from acquisitions, after financing costs, of nearly £2 million.

Financial Position

At current exchange rates, group net debt at September 30, 2013 is expected to be no more than £10 million, against £38 million at March 31. This reflects the group's traditionally strong second half operating cash flows as well as acquisition payments of £13m in the period.

Next Trading Update

The year end results will be announced on the morning of November 14, 2013, followed by an analyst presentation and investor meetings.

* Adjusted profit before tax is profit before tax, acquired intangible amortisation, restructuring and other exceptional operating costs, movements in acquisition deferred consideration, and net movements in acquisition option commitment values.

Richard Ensor

Chairman

September 23, 2013

END

For further information, please contact:

Euromoney Institutional Investor PLC 

Richard Ensor, Chairman: +44 20 7779 8845; [email protected]

Christopher Fordham, Managing Director: +44 20 7779 8998; [email protected]

Colin Jones, Finance Director: +44 20 7779 8998; [email protected]

FTI Consulting

Charles Palmer: +44 20 7269 7180; [email protected]

NOTE TO EDITORS

Euromoney Institutional Investor PLC (www.euromoneyplc.com) is listed on the London Stock Exchange and is a member of the FTSE-250 share index. It is a leading international business-to-business media group focused primarily on the international finance, metals and commodities sectors. It publishes more than 70 titles in both print and on-line format including Euromoney, Institutional Investor and Metal Bulletin, and is a leading provider of electronic research and data under the BCA Research, Ned Davis Research and ISI Emerging Markets brands. It also runs an extensive portfolio of conferences, seminars and training courses for financial markets. The group's main offices are in London, New York, Montreal and Hong Kong and more than a third of its revenues are derived from emerging markets.