Ascential 2016 Results 27 February 2017
Disclaimer Without prejudice to the foregoing, neither the Company, its associates, its By attending the meeting where this presentation is made, or by reading this advisers nor its representatives accept any liability whatsoever for any loss document, you agree to be bound by the conditions set out below. howsoever arising, directly or indirectly, from the use of this presentation or its contents or otherwise arising in connection therewith. This presentation may not be reproduced (in whole or in part), distributed or transmitted to any other person without the prior written consent of the This presentation is for information only. This presentation does not constitute Company and is not intended for distribution to, or use by, any person or entity an offer for sale or subscription of, or solicitation of any offer to buy or in any jurisdiction or country where such distribution or use would be contrary subscribe for, any securities of the Company, in any jurisdiction including the to local law or regulation. Any recipients of this presentation outside the UK United States, nor should it form the basis of or be relied on in connection with should inform themselves of and observe any applicable legal or regulatory any contract or commitment whatsoever. It does not constitute recommendation requirements in their jurisdiction, and are treated as having represented that regarding any securities. Past performance, including the price at which the they are able to receive this presentation without contravention of any law or Company’s securities have been bought or sold in the past and the past yield on regulation in the jurisdiction in which they reside or conduct business. In the Company’s securities, cannot be relied on as a guide to future performance. particular, the securities referred to in this presentation have not been and will Nothing herein should be construed as financial legal, tax, accounting, actuarial not be registered under the U.S. Securities Act of 1933 and may not be offered, or other specialist advice. Persons needing advice should consult an independent sold or transferred within the United States except pursuant to an exemption financial adviser. from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act of 1933. In the United Kingdom, this presentation is being Certain statements in this presentation constitute forward-looking statements. communicated only to and is only directed at those persons who are (i) persons Any statement in this presentation that is not a statement of historical fact having professional experience in matters relating to investments falling within including, without limitation, those regarding the Company’s future Article 19(5) of the Financial Services and Markets Act 2000 (Financial expectations, operations, financial performance, financial condition and business Promotion) Order 2005 (the “Order”), or (ii) high net worth entities falling within is a forward-looking statement. Such forward-looking statements are subject to Article 49(2)(a) to (d) of the Order, or (iii) persons to whom it would otherwise risks and uncertainties that may cause actual results to differ materially. These be lawful to distribute the presentation. risks and uncertainties include, among other factors, changing economic, financial, business or other market conditions. These and other factors could The information set out herein may be subject to updating, completion, revision adversely affect the outcome and financial effects of the plans and events and amendment and such information may change materially. Neither Ascential described in this presentation. As a result you are cautioned not to place reliance plc (the “Company”), its advisers nor any other person, representative or on such forward-looking statements. Nothing in this presentation should be employee undertakes any obligation to update any of the information contained construed as a profit forecast. All views expressed are based on financial, herein. No representation or warranty, express or implied, is or will be made by economic, and other conditions as of the date hereof and the Company disclaims the Company, its advisers or any other person as to the accuracy, completeness any obligation to update any forecast, opinion or expectation, or other forward or fairness of the information or opinions contained in this presentation and any looking statement, to reflect events that occur or circumstances that arise after reliance you place on them will be at your sole risk. the date hereof. Page 01
Highlights Duncan Painter, Chief Executive Page 02
Highlights of the Year Organic Performance: • Strong growth from Continuing operations: 9.5% 9.5% • Revenue growth including Discontinued operations: 5.6% • Expanded product range, within our brands: • Launches: Money20/20 Europe, Lions Entertainment, Bett Middle East • Innovation: WGSN single platform, WGSN Insight 2016 Organic 1 Revenue Growth Portfolio Re-Shaping: • Acquisition of One Click Retail • Separation of Heritage Brands and sale of HSJ (2017) • Acquisition of MediaLink (2017) 11.5% Our 2017 focus: • Focus on customer drivers to expand brand engagement • Refine further sophistication re: product management • Optimise the way we work across brands 2016 Organic 1 Adjusted EBITDA Growth 1. Organic growth is calculated to provide the reader with a more meaningful analysis of underlying performance. The following a djustments are made: (a) Page 03 constant currency (restating FY15 at FY16 exchange rates), (b) event timing differences between periods (if any) and (c) adju sting for the part-year impact of acquisitions and disposals
Organic Growth - Multiple Levers Deployed Geographic Expansion Adjacent Markets • Money20/20 Europe • Lions Entertainment • Bett Middle East • Bett Academies (2017) • Money20/20 Asia (2018) Multiple levers for growth Expansion across the functional New Product Development areas of the customer • WGSN Insight • Retail Week • WGSN Instock enhancements • WGSN Mindset Connect • WGSN Single Platform • Retail Week • Cannes Lions • Groundsure 2 Prospect Archive Page 04
Focused Portfolio of Leading Brands 2016 Revenue 2016 Adjusted EBITDA (Continuing - £299.6m) (Continuing - £95.9m) TOP 10 93% TOP 10 87% TOP 5 69% TOP 5 81% Revenue EBITDA 2016 2016 2015 2015 69% 81% Top 5 products Top 5 products 66% 75% Top 10 products Top 10 products 87% 86% 93% 91% Page 05 Top 5 brands by Adjusted EBITDA in 2016: Information Services: Groundsure and WGSN; Exhibitions & Festivals: Cannes Lions; Sp ring/Autumn Fair and Money20/20. Top 6-10 brands by Adjusted EBITDA in 2016: Information Services: Planet Retail, Glenigan and Retail Week; Exhibitions & Festiva ls: Bett and CWIEME.
Top Brands Continue to Drive Growth 2 Top 5 Brands (2016) Recent Acquisitions Information Services Exhibitions & Festivals Global leader in No.1 creative The world’s UK’s largest Leading Leading e- US-based media market communications leading FinTech trade exhibition provider of commerce data advisory and intelligence, festival event focused for home and environmental analytics business insight and on payments giftware risk data service provider services Purpose trend forecasts innovation provider to the fashion industry £55.5m £34.7m £34.3m £15.3m £7.4m £67.4m £40.0m Revenue Organic 1 6% 8% 103% 29% 18% 60% 3% Revenue Growth 1. Organic growth is calculated to provide the reader with a more meaningful analysis of underlying performance. The following a djustments are made: (a) constant currency (restating H1 2015 at H1 2016 exchange rates), (b) event timing differences between periods (if any), and (c) adjusting for the part-year impact of any acquisitions and disposals. 2. Figures include results prior to the date of acquisition (Translated at 1.34 US$:£) . Page 06
Re-shaping the Portfolio / Heritage Brands Separation (2016) After Before 9.5% 5.6% Revenue Growth 30.1% 32.0% EBITDA Margin 43% UK Revenue 38% 1 c1,600 c1,300 Staff Numbers Page 07
Re-shaping the Portfolio / Geographic Exposure (inc OCR and Medialink) Revenue by Region 2012 2015 2016 (Total) (Total) (Continuing and Proforma ) 1 9% 8% 10% 3% 8% 6% 33% 12% 48% 22% 54% 38% 18% 16% 15% UK Other Europe Americas Middle East/Africa Asia Pacific Page 08 1 Proforma for OCR and MediaLink (2015: includes Discontinued operations and excludes OCR and MediaLink).
Increasing Product Synergy Connect Inform & Page 9
Financials Mandy Gradden, CFO Page 10
Company Overview Continuing • Revenue: £299.6m (2015: £256.6m) • Adjusted EBITDA: £95.9m (2015: £76.6m) • Margin: 32.0% (2015: 29.9%) • 19 Brands Exhibitions & Festivals Information Services Heritage Brands • Revenue: £180.0m (2015: • Revenue: £119.6m (2015: • Revenue: £57.9m (2015: £150.4m), 60% of Group £106.2m), 40% of Group £62.5m) • Adjusted EBITDA: £73.5m, (2015: • Adjusted EBITDA: £35.1m • Adjusted EBITDA: £11.6m £56.9m), 68% of Group (2015: £29.7m), 32% of Group (2015: £14.3m) • Margin: 40.8% (2015: 37.8%) • Margin: 29.3% (2015: 28.0%) • Margin: 20.0% (2015: 22.9%) • 12 Brands • 7 Brands • 13 Brands Page 11
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