Informa, an international live B2B events, B2B digital services and academic markets group has published its full year results for 2024, reporting double digit revenue and profit growth, the resumption of share buybacks and guidance for further strong growth in 2025.
Stephen A. Carter, group chief executive, Informa PLC, said: ”On every measure, the Informa Group delivered an outstanding result in 2024, from revenue growth to higher dividend returns, alongside further International and Portfolio expansion. This is a performance we aim to repeat in 2025.”
He added: ”Our growth ambitions through the 2025-2028 One Informa period are underpinned by structural growth in B2B Events and Specialist Knowledge, market-leading Brands and a geographic mix weighted to fast-growing economies. Further scale and opportunity in the increasingly important GCC Growth Gateway is delivered through today’s proposed strategic partnership in the UAE.”
Informa report as follows:
Further Strong Performance in 2024
- Strong Financial Performance: Revenue £3,553.1m (2023: £3,189.6m), Adjusted Operating Profit
- £995.0m (2023: £853.8m) and Free Cash Flow £812.1m (2023: £631.7m);
- Double-Digit Underlying Growth: Underlying revenue growth of 11.6% and underlying adjusted operating profit growth of 22.9%, including double-digit underlying revenue growth in both B2B Markets and Academic Markets;
- Improving Margins: Underlying revenue growth and strong profit conversion delivers further increase in adjusted operating margin to 28.0% (2023: 26.8%);
- Growing Earnings per Share: Adjusted diluted earnings per share +10.6% to 50.1p (2023: 45.3p), reflecting strong operating performance;
- Improving Statutory Performance: 2024 statutory operating profit +6.9% to £542.8m (2023: £507.8m), reflecting strong underlying growth and further inorganic expansion, with statutory diluted EPS lower at 22.2p (2023: 29.9p), due to lower fair value gains on contingent consideration, one-off finance fees and non-cash loss on disposal.
Maximising Informa’s B2B Growth Platform: 2025-2028 One Informa
- Structural Growth: Live B2B Events are underpinned by a number of positive structural growth trends, including the rising value of face-to-face connections in a digital world, the power of MICE (Meetings, Incentives, Conferences, Exhibitions) in developing industries and driving economic growth, and the AI Time Dividend, as technology creates more time for innovation and impact;
- Growth Geographies: We are building our B2B platform around faster-growing geographies, shifting the focus from the UK/Europe (c.10% revenue) to the Americas/GCC/Asia/China (c.85%);
- Growth Markets: We are targeting B2B end markets with intrinsic growth characteristics, including fragmented supply chains, high levels of innovation and high margin products, creating leading market positions e.g. Technology, Healthcare, Pharmaceuticals, Nutrition, Aviation and FinTech;
- Specialist B2B Brands: Our B2B platform is underpinned by 800+ specialist B2B Brands that are synonymous with the end market they serve, delivering must-attend events and experiences that drive growth, discovery and impact;
- B2B Growth Platform: The combination of structural growth, growth geographies, growth markets and market-leading Brands is now delivering consistent 5%+ underlying revenue growth; In this report, we refer to non-statutory measures, as defined in the Financial Review on page 10 and Glossary on page 42.
- 2025-2028 One Informa: A four-year, self-funded programme to further maximise our B2B platform through Brand extension and International partnerships, with particular focus on Market-Leading Customer Experience, Data-led Marketing (IIRIS), Specialist Brands and the further deployment of digital service technologies and AI tools, including Informa’s AI personal assistant, Elysia;
Strong Momentum into 2025
- Consistent Strong Underlying Growth: In 2025, Informa’s growth platform will deliver 5%+ Group underlying revenue growth before any reinvestment in inorganic additions;
- Double-Digit Earnings Growth: Our target for the expanded Informa portfolio is reported revenues of £4.1bn+ in 2025 (excluding Curinos (now divested) and with a USD/GBP exchange rate of $1.25), and double-digit growth in adjusted diluted earnings per share;
- Q1 Performance and Forward Visibility: 2025 has started strongly, with c.£1.7bn of revenues (40%+ of target revenues) already paid, booked or committed through subscriptions, recurring exhibitor revenues and forward booked contracts.
Further Scale in the GCC Growth Gateway through new Partnership
- Expansion through creation of Informa International: Proposed strategic partnership with Dubai World Trade Centre (DWTC) to combine Informa’s B2B Events business in the UAE and connected partner markets with Dubai-based DWTC’s B2B Events business; Creates further scale and opportunity in one of the fastest-growth markets for B2B Events, where significant new venue capacity is coming on stream in 2026;
- This new joint venture, Informa International, will have revenues of $700m+, with 30%+ operating margins, bringing together a portfolio of market-leading Brands in highly attractive growth categories, including Healthcare (WHX), Energy (Middle East Energy), Aviation (Dubai Air Show), Food (Gulfood), ICT (GITEX) and Information Security (GISEC);
- This combination of commercial equals requires no cash consideration and is expected to complete in Q4 2025. Informa’s shareholding (52%) will lead to full consolidation of revenues and operating profit, with accretion to adjusted earnings per share expected from 2026.
Balance Sheet Strength and Consistent Shareholder Returns
- Strong Free Cash Flow growth: Operating strength and continuing discipline in cash management delivered operating cashflow conversion over 100% and free cash flow growth of 28.6% in 2024;
- Portfolio focus: Successful divestment of Lloyds’ List and Curinos equity investments for combined value of over £200m, (>20X EV/EBITDA), further simplifying our portfolio;
- Balance Sheet Strength: Strong underlying cash flows combined with non-core divestments enabled significant organic and inorganic growth investment in 2024, with year-end leverage of 2.6x net debt to adjusted EBITDA, with further deleveraging to come in 2025;
- Consistent Shareholder Returns: Ordinary dividends of 20.0p per share for 2024, +11.1% year-on- year, combined with £425m+ of share buybacks, delivered £675m+ in-year cash returns;
- Recommencing Share Buybacks: The Share Buyback Programme restarts, reflecting forward visibility and growth, and in line with our Capital Allocation Policy; Initial minimum £200m+ in 2025;
- Sustainability...FasterForward: Delivery of FasterForward sustainability strategy, including the Sustainable Events Fundamentals Programme, recognised through inclusion in Dow Jones Sustainability Index for seventh consecutive year, AAA ESG Rating from MSCI and A- CDP Score.
The full update and results can be seen here.
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