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IBI Premium Content, by David Robinson2021-01-07T14:35:00
Informa PLC, the London, UK-listed global events organiser responsible for the Monaco Yacht Show and Fort Lauderdale International Boat Show amongst others, has indicated in its 2020 half-year results that its profits for last year are likely to be around 70% down.
Boat show organiser reveals full Covid impact and outlines strategy for post pandemic; names key appointments and confirms 2021 boat show dates.
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Publishing and events company Informa is forecasting a huge drop in annual revenues and profits following the cancellation of many exhibitions worldwide due to the coronavirus.
The group expects 2020 revenues will range from £1.65billion to £1.68billion compared to £2.89billion in 2019 while adjusted operating profit is expected to fall by over 70 per cent to between £250million and £270million.
Its three main events-led businesses were all badly hurt by the disruption, especially in the United States market, which was responsible for about 40 per cent of Informa s events revenue in 2019.
Informa runs the Game Developers Conference, a massive professional game industry event
Major conventions it operates that were called off or postponed last year included MegaCon, a major Florida-hosted speculative fiction exhibition, the Game Developers Conference, and the Monaco Yacht Show.
Informa trading update predicts gradual return of physical events rather than ‘full rebound’
The world’s largest exhibitions group Informa plc, in a 6 January update on trading ahead of its 2020 full-year results on 22 April 2021, has forecast a 70% drop in profit and is scheduling 90% of its physical events outside mainland China to run only from June 2021. The group acknowledged minimal major physical events activity had returned in 2020 outside of China.
The group’s revenue return for 2020 was expected to be in the range of £1.65bn (US$2.25bn)-£1.68bn and group adjusted operating profit in the range of £250bn-£270bn, according to the 6 June update.
Provided by Dow Jones By Lina Saigol Informa plans deeper use of digital events post-pandemic Shares in Informa rose almost 2% on Wednesday, after the world s biggest exhibition operator said that 2021 is likely to be a year of return of physical events, as hopes of COVID-19 vaccines spark a recovery in consumer confidence. FTSE 100-listed Informa said in a trading statement (link) that it had extended the postponement for physical events outside of mainland China to late spring, but added that 90% of non-Chinese exhibitions planned in the year are now scheduled to run from June onward. As the vaccine and testing programs progress, markets gradually open up and customer confidence starts to recover in 2021, we are focused on making the most of physical event opportunities as they arise, said Informa Chief Executive Stephen Carter.