CHICAGO — The 2023 Half Year Results from trade show organizers and other industry entities reflect the positive momentum that the industry is seeing in terms of show performance, with major players reporting higher than expected revenue and profit.
According to Informa’s 2023 Half Year Results, the company reported underlying revenue growth of 31.9% and an underlying adjusted operating profit of 65.5%. Informa Tech delivered underlying growth of 7.4% and was further strengthened by Informa’s recent acquisition of Canalys, which fell into the specialist tech research arm.
Through volume and value growth due to recent acquisitions, including Winsight and Tarsus earlier this year, and the company’s strong performance, Informa will deliver at the top end of its 2023 market guidance range for group adjusted operating profit and reported group revenue. Recently, Informa also announced exclusivity to acquire HIMSS Global Health Conference & Exhibition.
“We are very pleased with our half year results and the momentum into the second half of the year. It’s clear our customers continue to value high quality in-person experiences, and this success is a testament to the strength of our brands and commitment of our colleagues within the specialist markets we serve,” said Patrick Martell, Informa Markets CEO and Inform Group CEO.
RX’s parent company, RELX, reported underlying adjusted operating profit growth of 16% and underlying revenue growth of 8% due to the recovery of face-to-face events in its Interim Results. In the first half of 2023, RX completed two acquisitions, and as the company heads into the second half of the year, underlying growth rates in revenue and adjusted operating profit are expected to be above historical trends. In response to the strong half year results, RELX announced an 8% increase in the interim dividend.
“RELX delivered strong revenue and profit growth in the first half of 2023. The improving long-term growth trajectory continues to be driven by the ongoing shift in business mix towards higher growth analytics and decision tools that deliver enhanced value to our customers across market segments,” RELX CEO Erik Engstrom said.
Related. Informa to Acquire HIMSS Amid Other M&A Activities and Stellar Half-Year Report Results
Emerald Holding, Inc. Also saw revenue increases in its Q2 earnings report, with the company reporting $86.5 million in revenues, a 21.1% increase compared to Q2 in 2022. Emerald attributes this increase to the growth of the events held in Q2 of 2022 and 2023 and highlighted that the post-pandemic recovery was helping to drive growth in attendee and exhibitor numbers, with international travel rebounding and customer supply chains improving. Nearly $1 million of the revenue was generated by newly launched events.
Emerald also reported organic revenues, which consider the impact of scheduling adjustments and acquisitions, of $79.2 million, an 11.1% increase compared to Q2 2022. The company expects to see more than $400 million in revenue in 2023.
The positive half-year results from many trade show organizers and industry players continue proving that the trade show industry is back in full swing, with projections of even more growth in the last half of 2023.
Reach Mike Besecker at Mike.Besecker@gomomentus.com
