Reed Exhibitions Scores $1.1 Billion in 2011 Revenue
Last year was a good one for Reed Exhibitions, with not only $1.1 billion in revenue, but also a 10-percent increase in underlying revenue, compared with 2010 and excluding biennial show cycling.
Reed Exhibitions' net operating profit also rose 6 percent to $262 million, compared with 2010.
Reed Elsevier’s trade show division, which already boasts a massive worldwide portfolio, also grew even larger in 2011 with 43 new events being added.
Even with the struggles in the Eurozone, revenues in Europe for Reed Exhibitions grew 6 percent, compared with 2010, excluding biennial cycling, with shows Mipcom and Mapic performing well.
In addition, Mipim, the largest individual show in Reed’s show portfolio, saw gains after a tough 2010, according to Reed officials.
North America also saw strong growth, with underlying revenues surging 16 percent, compared with 2010, excluding negative show rotation, according to Reed officials.
Other markets, particularly China, Brazil, Russia and the Middle East, saw strong growth and added to an increase of 13 percent in underlying revenues in markets outside North America and Europe, excluding biennial events.
In 2011, Reed Exhibitions also continued a robust merger and acquisitions strategy, adding events in fast-growing markets and industry sectors.
Some deals last year included the buy of U.K.-based Business Travel Market, an annual corporate travel conference and exhibition held at London’s ExCeL, for an undisclosed sum.
In addition, Reed Exhibitions acquired the Scotland-based All-Energy show, an alternative energy exhibition and conference, from Media Generation Events, as well as the Multiplus show for the biofuels industry and Expo Seguridad in Latin America.
Reed Exhibitions started off 2012 with even more expansions, taking full ownership of its joint venture, Alcantara Machado, Brazil’s leading exhibition organizer, and buying an internet retailer show in Australia.
This year is meant to be a positive one overall for the company, with biennial cycling having a positive impact on revenues, although officials warn of continued weakness in the European market.
“2011 was a year of good progress both strategically and financially,” said Erik Engstrom, CEO of Reed Elsevier, of the company’s overall business.
He added, “Organic development remains at the core of our strategy, and in 2011 we increased our investment and accelerated new product launches, focusing on the provision of information solutions that demonstrably improve the economics of our professional and business customers.”
Engstrom said, “The macro economic outlook remains uncertain, but by delivering highly valued products and services to our professional customers, and a relentless focus on process efficiency, we expect to deliver another year of underlying revenue and profit growth in 2012.”