operational review · 2017-01-20 · operational review - emerging markets dubai airshow excellent...
TRANSCRIPT
Quickening the PaceTrading update – January 2016
Agenda ■ Operational review ■ Strategic update ■ Outlook ■ Summary ■ Q&A
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OPERATIONAL REVIEW
Operational review ■ Record financial results ■ Like for like revenue growth at 10% ■ Major events performed well ■ Good progress made in portfolio development
■ 2 strategic acquisitions
■ 15 replications
■ Disposal of French portfolio ■ Balance sheet position strong
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Operational review- EMERGING MARKETSDubai airshow
■ Excellent performance
■ Strong revenue growth. Visitors up 9%
■ Good rebook for 2017 show
Turkey ■ Good performance across the portfolio with larger shows particularly strong
China ■ Hope revenues well ahead of 2014 ■ SIUF performed well ■ AAITF successfully transitioned to Shenzhen
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Operational review- EMERGING MARKETSMexico
■ Good performance from Expo Manufactura ■ GESS launch successful
Indonesia ■ Launch of GESS strong attendance ■ Successful launch of Big 5 JV ■ Investment in IIICE sales and marketing
AMB JV ■ Expands footprint in fast growth SE Asia markets
■ Successful events held in Cambodia, Myanmar and Philippines
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Operational review- USAOff-Price
■ Continued solid growth with revenue up 5%
Medical ■ Orlando and Las Vegas shows had record editions
■ SBS and PAINWeek performed well in their first editions
■ Business tracking in line with expectations overall
■ Growth initiatives gaining traction
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Operational review- EUROPE
■ Labelexpo record event with strong buyer growth
■ Labels publishing continues to impress ■ French business sold
3D Print ■ Aggressive launch program in 2015 ■ Integration completed ■ Consolidation into larger B2B events in 2016
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FX exposure2016 PROFORMA REVENUE
USD TRY RMB IDR EUR GBP
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NET DEBT ■ Net debt and cash flows in line with expectations
■ Includes payments for AMB and PAINWeek acquisitions and disposal of France
■ Gearing of 1.8 x EBITDA (historic 24 months basis)
■ Bank facilities increased to £75m and extended to 2020 with interest fixed
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NET DEBT ■ Net debt and cash flows in line with expectations
■ Includes payments for AMB and PAINWeek acquisitions
■ Disposal of France adds [£3.0m] cash ■ Gearing of [1.7]x EBITDA (historic 24 months basis)
■ Bank facilities increased to £75m and extended to 2020
Strategic update
Quickening the Pace ■ Expanded opportunities for customers in growth markets
■ Increase Shareholder returns ■ Organic growth
■ Buyer attendance
■ Current portfolio
■ Replications ■ Markets in transition
■ Sectors
■ Geographies ■ Bolt on acquisitions
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Strategic progress ■ Geographical footprint completed – growth economies
■ Acquisitions of AMB and PAINWeek strengthening the portfolio
■ Disposal of French business ■ Replications supplementing organic growth ■ Strong growth in buyer attendance +9%
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medical division ■ Footprint complete covering ‘4 Pillars’ of preventative medicine
■ Neurology, endocrinology, cardiovascular and oncology
■ PAINWeek fully integrated and performing very strongly
■ Major anti-aging shows and online educational products growing well
■ New initiatives driving further growth: ■ Central grant writing team ■ Cross working between business units ■ New Medical Technology event
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organic replications gathering pace
E X P O M E X I C O 2 0 1 6
M o n t e r r e y
w w w . i n d u s t r i a l p r i n t e x p o . c o m
M é x i c o F e b r e r o 2 - 4
2015 Repeat 2016new
GESS ü ü -
3D/Additive ü ü ü
Cardio ü ü ü
OFFPRICE ü - -
Ind’lPrint ü ü ü
Zuchex ü - ü
Turkey ü ü -
Aerospace ü ü ü
AAITF ü - -
AMB - - ü
15 11 11
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Buyer programme ■ Key metric for Tarsus management at all levels ■ Growth rates
■ Industry Average - 3% ■ Tarsus Target - 5% ■ Achieved 2015 - 9%
■ Focused programme for every show ■ Implemented Salesforce ■ Best Practise project focussed on operations and marketing
■ Integration plan for acquisitions increases visitor focus
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tarsus exchange
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Case study- LABELEXPO EUROPE
■ 1999 - 18,024 visitors ■ 2015 - 35,739 ■ Built extensive worldwide database of buyers ■ Global event programme drives visitors to big shows
■ Award winning marketing, design and PR team ■ Multi-lingual advertising campaign both print and online
■ Publications and websites addressing key industry topics
■ Credibility as leaders in the industry e.g. Labels Academy
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Labelexpo Brand ■ 1999 3 shows
■ 2015 10 shows
■ Strong global brand identity
■ Global customers leading expansion
■ Smaller shows driving visitor growth to bigger events
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Case study- ZUCHEX
■ 34,000 visitors +6% ■ 3,200 international visitors +12% ■ Rebranding campaign including modernising and internationalising the image/logo
■ Focus on event listings with partner websites ■ Partnerships with trade portals ■ Content led use of social media ■ Improved translation of promotional material ■ Cleansing of existing data and improved data capture
■ Increased international press activity ■ Earlier start to visitor campaign - clearer messaging to international audience
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GESS brand ■ 2008 – 4,000 visitors
■ 2015 – 10,000 visitors
■ Launched 2008
■ Revenue growth at 22% CAGR
■ Strong brand identity
■ Global customers (Microsoft, Lego, etc)
■ Replication 2015 – Indonesia, Mexico
■ Continuing to explore replications
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organic growth indonesiaExisting event
acquired in 2013New brands
added in 2014+2015Brand replications JV Launch
Visitors 2013 – 4,500 Visitors 2015 – 21,000
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Outlook
Outlook ■ Like for like bookings tracking +10% ■ “Quickening the pace” on track ■ Replication programme gaining momentum ■ 2017 rebook on larger events strong ■ Outlook for 2016 positive
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Summary ■ 2015 a record year ■ Good strategic progress ■ Portfolio reshape completed ■ Organic growth at 10%, replications delivered and complimentary acquisitions made
■ Buyer attendance +9% ■ Progressive dividend policy continues ■ Well positioned for 2016 with strong forward bookings
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Q&A
Appendix
Macroeconomic assumptionsFX Rates for 2016
■ US$1.50 ■ Euro €1.35 ■ T Lira 4.30 ■ RMB 9.80 ■ IDR 20,500
GDP Growth rates ■ UK 2.6% ■ US 2.8% ■ Turkey 3.9% ■ China 7.0% ■ Indonesia 5.5%
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