Events Portfolio Gives Big Boost to UBM Q1 Profits
April 26, 2012
First-time events under t he UBM banner – Game Developers Conference and EcoBuild – were so successful they, and other events in the portfolio, helped boost UBM Q1 revenue 11 per cent to £264.2 million, compared with the same period last year.
The event portfolio had particularly strong results, an increase of 46 percent to £123.1 million ($200 million) compared with the same period in 2011, while adjusted operating profit rose 53 percent to £42.4 million ($69 million).
Overall operating profit also rose 26 percent to £56.1 million ($91 million).
“UBM performed well in the first quarter. We were particularly pleased by the performance of our Events businesses, most notably Game Developers Conference and Ecobuild in its first edition under UBM ownership,” said David Levin, CEO of UBM.
He added, “PR Newswire has had a solid start to the year with subdued growth in the United States, partially offset by international growth, notably in China. Data Services revenues were lower than anticipated, largely reflecting phasing factors, which we expect will unwind through the year. As expected, UBM’s online Marketing Services revenues exceeded Print revenues for a full reporting period for the first time."
Other events in the UBM portfolio that posted double-digit numbers in the first quarter included Sign China and Enterprise Connect.
UBM also has been bullish on the acquisition front, recently buying events such as Negocios nos Trilhos, South America’s leading railway industry exhibition, from Grupo Revista Ferroviária on behalf of UBM, as well as the Malaysian International Furniture Fair (MIFF), China International Exhibition & Symposium on Dental Equipment, Technology & Products (DenTech China), Renewable Energy India Expo and Airport Cities Exhibition & Conference (ACE).
Based on the strong first quarter results, UBM officials said they now expect that underlying growth for events for the full year will be in the range of 10 percent to 12 percent, which is slightly higher than previously anticipated.
However, Levin added, this will offset slower growth in PR volumes and advertising activity, particularly in print magazines.
He said, “We now expect growth in both PR Newswire and Marketing Services to come in at the lower end of our guidance ranges. Although conditions in a number of our markets remain challenging, and year-on-year comparisons will get tougher as the year progresses, the business is performing well, and we maintain our consolidated guidance for 2012.”
Partner Voices
Overview:
The award-winning Orange County Convention Center (OCCC) goes the extra mile to make every day extraordinary by offering customer service excellence and industry-leading partnerships. From their dedicated in-house Rigging team to their robust Exhibitor Services, The Center of Hospitality brings your imagination to life by helping you host unforgettable meetings and events. With more than 2 million square feet of exhibit space, world-class services and a dream destination, we are committed to making even the most ambitious conventions a reality.
In October 2023, the Orange County Board of County Commissioners voted to approve allocating Tourist Development Tax funding for the $560 million Phase 5A completion of the OCCC. The Convention Way Grand Concourse project will include enhancements to the North-South Building, featuring an additional 60,000 square feet of meeting space, an 80,000- square-foot ballroom and new entry to the North-South Building along Convention Way.
“We are thrilled to begin work on completing our North-South Building which will allow us to meet the growing needs of our clients,” said OCCC Executive Director Mark Tester. “As an economic driver for the community, this project will provide the Center with connectivity and meeting space to host more events and continue to infuse the local economy with new money and expanding business opportunities.”
Amenities:
The Center of Hospitality goes above and beyond by offering world-class customer service and industry-leading partnerships. From the largest convention center Wi-Fi network to custom LAN/WAN design, the Center takes pride in enhancing exhibitor and customer experience.
The OCCC is the exclusive provider of electricity (24-hour power at no additional cost), aerial rigging and lighting, water, natural gas and propane, compressed air, and cable TV services. Convenience
The Center is at the epicenter of the destination, with an abundance of hotels, restaurants, and attractions within walking distance. Pedestrian bridges connect both buildings to more than 5,200 rooms and is within a 15-minute drive from the Orlando International Airport. The convenience of the location goes hand-in-hand with top notch service to help meet an event’s every need.
Gold Key Members
The OCCC’s Gold Key Members represent the best of the best when it comes to exceptional service and exclusive benefits for clients, exhibitors and guests. The Center’s Gold Key memberships with Universal Orlando Resort, SeaWorld Orlando and Walt Disney World greatly enhance meeting planner and attendee experiences offering world-renowned venues, immersive experiences and creative resources for their events.
OCCC Events:
This fiscal year, the OCCC is projected to host 168 events, 1.7 million attendees, and $2.9 billion in economic impact.
The Center’s top five events during their 2022-2023 fiscal year included:
AAU Jr. National Volleyball Championships 2023
200,000 Attendees
$257 Million in Economic Impact
MEGACON 2023
160,000 Attendees
$205 Million in Economic Impact
Open Championship Series 2023
69,500 Attendees
$89 Million in Economic Impact
Sunshine Classic 2023
42,000 Attendees
$54 Million in Economic Impact
Premiere Orlando 2023
42,000 Attendees
$108 Million in Economic Impact
Add new comment