Interim Management Statement

29th April 2014 Interim Management Statement Q1 performance as anticipated - on track for the full year Highlights Q1 results in line with expectations Q1 revenue was £163.0m (Q1 2013: £188.5m) Reported revenue reflects: strong foreign exchange headwind of £13.5m; adversequarterly phasing of £10.7m; impact of restructured marketing services Underlying revenue(1) decline of 5.2%; decline was 3.6% after adjustments forproduct discontinuations Adjusted operating profit was £29.4m (Q1 2013: £35.4m) Net debt reduced to £423.3m (2013: £443.4m) Robert Gray, Chief Financial Officer, UBM plc said: "UBM's results for the first quarter were in line with our expectations. Firstquarter revenue reflects adverse currency movements, the phasing impact ofevents that ran in Q1 2013 running later in the year, and restructuredmarketing services. Events forward bookings remain robust, and we expect good growth in theEmerging Markets and large US shows running through the balance of 2014. We'regetting traction in our reshaped marketing services offering, resulting inimproved profitability. PR Newswire has made a good start on delivery for theyear, and trends in the US are encouraging. Our guidance for 2014 isunchanged." Unaudited results for the three months ended 31 March 2014(2) Continuing Revenue 2014 2013 Change Underlying Change(1) £m £m % % . Events 93.3 107.5 -13.2 -6.0 Other Marketing Services 23.0 31.8 -27.7 n/m PR Newswire 46.7 49.2 -5.1 2.6 Total Revenue 163.0 188.5 -13.5 -5.2 Margin Continuing Adjusted Operating Profit 2014 2013 Change 2014 2013 £m £m % % % Events 24.3 30.1 -19.3 26.0 28.0 Other Marketing Services 0.9 0.0 - 3.9 0.0 PR Newswire 9.7 10.8 -10.2 20.8 22.0 Corporate Operations (5.5) (5.5) 0.0 Total Adjusted Operating Profit 29.4 35.4 -16.9 18.0 18.8 (1) Underlying growth rates adjust for currency movements, pro forma revenues from acquisitions and biennial events. Underlying change is not adjusted for phasing(2) Figures throughout reflect continuing operations only Events Q1 Event revenues were £93.3m (Q1 2013: £107.5m). Underlying(1) revenue declinewas 6.0%. Adjusted for product discontinuations the underlying decline was 4.0% Reported revenue decline also reflects foreign exchange headwind and adversephasing - the movement of events that ran in Q1 2013 running later in 2014which had an adverse impact of £10.7m in Q1 2014. Robust growth from our USshows (led by Game Developer Conference and MD&M West), and very strongperformance in Emerging Market shows (particularly Sign China and TurkeyJewellery) more than offset the expected decline in the UK, notably at Ecobuild Q1 adjusted operating profit was £24.3m (Q1 2013: £30.1m) representing anoperating margin of 26.0% (Q1 2013: 28.0%) reflecting the adverse phasingimpact, the decline in revenues in UK shows, as well as continued investment ingeographic and brand expansion, improved visitor experience, and health andsafety initiatives Forward bookings for our 2013 Top 20 events running in the next 12 months were£136.7m, up 22.2% compared to their level a year ago Other Marketing Services Other Marketing Services Q1 revenues were £23.0m (Q1 2013: £31.8m) Revenue declines chiefly reflect product rationalisation in our US technology business Adjusted operating profit was £0.9m (Q1 2013: £0.0m) representing an operatingmargin of 3.9% (Q1 2013: 0.0%) PR Newswire PR Newswire's Q1 revenues were £46.7m (Q1 2013: £49.2m) Reported year-on-year revenue change reflects foreign exchange headwind. On anunderlying basis revenue grew by 2.6% There was underlying revenue growth in US Distribution, US Other and Vintage.PR Newswire's Europe and CNW revenues were broadly flat Q1 adjusted operating profit was £9.7m (Q1 2013: £10.8m). PR Newswire operatingmargin was 20.8% (Q1 2013: 22.0%) as expected Debt Consolidated net debt as at 31st March 2014 stood at £423.3m (31 December 2013: £443.4m). UBM CEO succession As previously announced Tim Cobbold has been appointed Chief Executive Officer;he will take up his position and join the Board as an executive director on 6May 2014. Dame Helen Alexander will revert to the role of non-executiveChairman on the same date. Foreign exchange rates Foreign exchange rate movements have reduced reported revenue growth over thethree months compared to 2013 by 6.6%. Average foreign exchange rates are setout in the table below. Average rate for period Q1 2014 Q1 2013 Change £/USD 1.66 1.54 7.8% £/EUR 1.21 1.17 3.4% - Ends - Contacts Media Peter Bancroft Director of Communications [email protected] +44(0) 207 921 5961Chris Barrie Citigate Dewe Rogerson [email protected] +44(0) 207 282 2943 Investor Relations Chantal Bradford IR Manager [email protected] +44(0) 207 921 5943 Notes to Editors 1. About UBM plc UBM plc is a leading global events-led marketing services and communicationscompany. We help businesses do business, bringing the world's buyers andsellers together at events, online and in print. Our 5,000 staff in more than20 countries are organised into specialist teams which serve commercial andprofessional communities, helping them to do business and their markets to workeffectively and efficiently. For more information, go to www.ubm.com; for UBM corporate news, follow us onTwitter at @UBM_plc and go to http://media.ubm.com/social for more UBM socialmedia options. 2. Investor visits UBM will host investor visits to the following events: IFSEC International 17th June 2014 Excel Centre, London June Hong Kong Jewellery & Gem 20th June 2014 Hong Kong Convention & Exhibition Centre There are a limited number of places so if you would like to attend pleaseemail [email protected] Forward looking statements This press release contains statements which are not based on current orhistorical fact and which are forward looking in nature. These forward lookingstatements reflect knowledge and information available at the date ofpreparation of this press release and the Company undertakes no obligation toupdate these forward looking statements. Such forward looking statements aresubject to known and unknown risks and uncertainties facing the Groupincluding, without limitation, those risks described in this press release, andother unknown future events and circumstances which can cause results anddevelopments to differ materially from those anticipated. Nothing in this pressrelease should be construed as a profit forecast.