CHICAGO — Major trade show organizers have released their fourth–quarter (Q4) and 2022 full-year financial results, with earnings reflecting a strong comeback of in-person events.
Emerald Holding, Inc.’s Q4 and full-year financial results for 2022 saw increases in revenues and net income over 2021, and the company predicts even stronger earnings in 2023. Emerald saw revenues of $325.9 million, an increase of 124% over 2021, with an increase in events held in fiscal year 2022, and it expects to generate more than $400 million of revenue in 2023. Emerald produced 124 trade shows and events throughout 2022.
“Emerald’s full–year 2022 earnings results reflect the events industry’s continued and strong post-pandemic recovery, further validating the immense value of in-person experiences,” Emerald’s Chief Financial Officer David Doft said. “We successfully staged 124 in-person events in 2022, which almost doubled our 2021 total of 63, and generated over $56 million in Adjusted EBITDA, well ahead of expectations.”
Since the beginning of 2022, Emerald has acquired four businesses, Advertising Week, Bulletin, Lodestone Events and Cocina Sabrosa Food & Beverage Trade Expo, and it launched four new brands in high-growth sectors to position itself for future growth.
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“More importantly, Emerald’s strong exhibitor pre-booking trends, coupled with the significant increase in buyer attendance we have seen since the New Year, are highly encouraging and indicate significant growth potential in 2023,” Doft said. “Moreover, we believe that easing supply chain constraints, reopening international travel and removing the COVID overhang will help drive incremental attendance and revenue growth in 2023 and beyond. As a result, Emerald expects to generate in excess of $100 million in adjusted EBITDA in 2023 — approximately a 76% year-over-year increase; and more than $400 million in revenue — approximately a 23% year-over-year increase — further strengthening our commitment to deliver growth, great value and return on investment to our attendees and exhibitors.”
Informa PLC also reported strong earnings for 2022 for Informa Markets, Informa Connect and Informa Tech. Results for 2022 report £2,262.4m ($2.8B) in revenue, compared to £1,583.2m ($1.96B) in 2021. Profits were also significantly higher, with 2022 seeing profits of £451m ($558.7M) compared to £245.4m ($303.9M) in 2021. These increases reflect the underlying growth in all businesses, specifically in the B2B markets, following the disruptions caused by the pandemic in 2021.
Furthermore, Informa reached an agreement with Charterhouse Capital Partners to acquire Tarsus earlier this month and expects a full return of the events industry in China in 2024.
Reach David Doft at (866) 339-4688