2011 Full Year Results Presentation - Euromoney Institutional ...

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TRADING HIGHLIGHTS Revenues up 10% to £363m – growth across all streams FX impact in H2 masks consistent growth Q2 – Q4 Revenue trends since Q3 IMS: Underlying subscription growth 9% Advertising growth but sales slowed in Q4 – now being felt in Q1 Events still in good shape Training late cycle(?) recovery Operating margin maintained at 30% after 1% fall in H1: H2 investment spend maintained at £5m (2010: £4m), £9m foryear (2010: £6m) Revenue growth generated from higher margin research and dataproducts Tight headcount control after rapid increase in 2010 H214
REVENUE BY TYPE£m 2010 <strong>2011</strong> change@ constantfx ratesSubscriptions 153.7 171.0 +11% +14%Advertising 57.6 62.7 +9% +11%Sponsorship 40.5 48.8 +20% +25%Delegates 70.8 75.0 +6% +8%Other/closed 11.6 9.4 -19% -18%FX loss on forwardcontracts (4.2) (3.8)334.2 366.9 +10% +12%Total 330.0 363.1 +10% +12%15
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Page 5 and 6: ADJUSTED PBT 1£m 2010 2011Adjusted
Page 7 and 8: CASH FLOW / NET DEBT£27.0m£0.6m£
Page 9 and 10: TAX£m 2010 2011Adjusted PBT 86.6 9
Page 11 and 12: IMPACT OF FXRevenue 1Profit before
Page 16 and 17: REVENUE GROWTH BY QTR 145%35%25%15%
Page 18 and 19: REVENUE CHANGE BY QTR 2Y-o-Y % chan
Page 20 and 21: REVENUE MIXRevenue By TypeRevenue b
Page 22 and 23: OPERATING PROFIT BY DIVISION 1£m 2
Page 24 and 25: 2011 RESULTS PRESENTATION‣ Financ
Page 26 and 27: NDR DEAL STRUCTUREInitial equity pu
Page 28 and 29: COMPLEMENTARY, NOT COMPETITIVEResea
Page 30 and 31: NDR - GROWTH OPPORTUNITIES Migrate
Page 32 and 33: 2011 RESULTS PRESENTATION‣ Financ
Page 34 and 35: CURRENT TRADING / VISIBILITY Dark c
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