LONDON — Informa reports it is on track to exceed its 2019 pre-COVID levels for revenue in 2023, due to a strong performance in the first five months of the year and consistent growth.
According to the company’s trading update published ahead of its annual general meeting, Informa expects a strong 2023 with continued momentum into 2024. In the first five months of 2023, the group saw underlying revenue growth of 24.5%, with Informa Markets, Informa Connect and Informa Tech performing strong during the same time frame.
”The Informa Group is delivering accelerating growth in revenues, profits, earnings and cashflows, with a strong balance sheet and increasing shareholder returns. This enables us to increase our guidance for 2023 and create further opportunities for growth and acceleration in 2024 and beyond,” Stephen A. Carter, Group Chief Executive, Informa, said.
So far in 2023, Informa has organized more than 60 live events, which accounted for 40,000 exhibitors, more than 1.5 million attendees and 12 million square feet of floor space. With China reopening this year, and Informa’s expanded presence in the region, the company held Hotelex and China Beauty Expo. Notably, China Beauty Expo brought a record-breaking 120,000 attendees on its opening day.
Informa Markets performed strongly across all regions and markets, delivering 43.5% underlying growth from January to May. Informa Connect delivered underlying revenue growth of +19.2% in the same period.
Also contributing to the increased market guidance is the additions to Informa’s portfolio, notably the acquisitions of Tarsus and Winsight. Adjusted operating profits are expected to be 10% higher than the guidance set in March, and Informa Connect, in which Winsight was acquired into, will surpass the $500 million revenue mark in 2023.
As a result of the strong performance, growth and acquisitions, Informa is increasing its 2023 Reported Group Revenue guidance to £2.95bn to £3.05bn ($3.77B to $3.9B), putting revenue above what was reported in 2019.
Reach Stephen A. Carter at +44 (0) 20 8052 0400
