Interim Management Statement

UBM PLC - Interim Management Statement

PR Newswire

London, April 23

Highlights

- Q1 performance in line with expectations

- Guidance for 2013 maintained

- Q1 revenue down 7.9% to £194.7m (Q1 2012: £211.5m); underlying revenue(1)decline of 3.0%

- Adjusted operating profit of £35.0m (Q1 2012: £46.0m)

- Adjusted operating profit margin of 18.0% (Q1 2012: 21.7%)

- Net cash proceeds of £92m received on initial closing of the Delta assetsdisposal - closing of balance expected as remaining approvals are received

David Levin, Chief Executive Officer, UBM plc said:

"UBM had the tough first quarter we anticipated, with Events revenuesreflecting declines in our UK Built Environment shows. Our portfolio of eventsin the US and Emerging Markets performed well. Forward bookings are trackingin line with our expectations and we continue to expect strong growth throughthe balance of the year, particularly in our Emerging Markets events which areweighted to the second half. PR Newswire has made a good start to the year. InMarketing Services, we have begun to restructure the UBM Tech business tocreate a more sustainable and profitable model supporting our strongtechnology events franchise. Our full year guidance remains unchanged."

Unaudited results for the three months ended 31 March 2013

Marketing Services - Online & Print (0.3) (1.3) nm (0.8) (3.1)Corporate Operations

Total Adjusted Operating Profit 35.0 46.0 -23.9 18.0 21.7

(1) Underlying growth rates adjust for currency movements, discontinuedrevenues, pro forma revenues from acquisitions, biennial events and eventsaffected by phasing during the period. (The net impact of phasing was c.£6m)

(2) Restated to reflect disposal of Delta businesses and reclassification ofoutstanding Data products to Marketing Services

Events

- As anticipated Q1 Event revenues were down 9.7% to £109.4m (Q1 2012:£121.1m) principally reflecting the biennial headwind plus the movement ofevents between quarters; on an underlying(1) basis revenues declined 3.5%

- Good performance from our US and Emerging Market shows was offset byweakness in certain shows, most notably in the UK Built Environment

- Q1 adjusted operating profit was £30.0m (Q1 2012: £42.0m) representing anoperating margin of 27.4% (Q1 2012: 34.7%) largely reflecting the decline inrevenues in UK shows and the decision to invest to reinforce the long termfranchise value of these shows

- Forward bookings are tracking as expected. As at 31 March 2013, bookings forour 2012 top 20 events running in the next 12 months were up 8.8% compared tolast year

PR Newswire

- PR Newswire's Q1 revenues rose 0.4% to £49.2m (Q1 2012: £49.0m); despite thelower number of business days in Q1 2013 and changes in regulatory filingdates impacting the US and Canadian businesses

- Revenue growth in Vintage, US Other and Europe broadly offset declines in USDistribution, CNW and the PR Newswire Asia & LatAm businesses

- Q1 adjusted operating profit was £10.8m (Q1 2012: £9.9m). The operatingmargin was 22.0% (Q1 2012: 20.2%)

Marketing Services - Online & Print

- Marketing Services - Online & Print revenues fell 12.8% to £36.1m (Q1 2012:£41.4m); underlying revenue decline of 5.3%

- Print revenues were down by 29.4% to £10.1m (Q1 2012: £14.3m) reflecting theimpact of continued print declines and previously reported disposals.Underlying revenue decline of 13.1%

- Online revenues were down 4.1% to £26.0m (Q1 2012: £27.1m), with anunderlying revenue decline of 1.9% largely reflecting lower revenues fromproducts serving the US technology sector

- As indicated at our full year results we are restructuring our MarketingServices to create a more sustainable and profitable model supporting ourstrong events franchises. In April we began the restructuring at UBM Tech

- Q1 Marketing Services combined adjusted operating profit was £ (0.3)m (Q12012: £ (1.3)m) representing an operating margin of (0.8)% (Q1 2012: (3.1)%)

Portfolio changes

On 9th April UBM plc announced the completion of the bulk of the sale of thebusinesses that comprised its Data Services businesses ("Delta") to ElectraPartners. This follows the announcement of the agreement of terms with ElectraPartners on 5 February 2013.

In March UBM plc completed the acquisition of a 60% stake in NovoMania, theleading annual urban fashion event in Shanghai, for £0.1m.

Debt

Consolidated net debt as at 31st March 2013, adjusted for the proceeds fromDelta received on 9th April, stood at £455.9m (31 December 2012: £553.4m).

Foreign exchange rates

All constant currency or underlying calculations are based on average FX ratesfor the first quarter:

UBM plc is a global events-led marketing services and communications company.We help businesses do business, bringing the world's buyers and sellerstogether at events and online, as well as producing and distributingspecialist content and news. Our 5,500 staff in more than 30 countries areorganised into specialist teams which serve commercial and professionalcommunities, helping them to do business and their markets to work effectivelyand efficiently.

For more information, go to www.ubm.com