Informa PLC Press Release

4 August 2022

Divestment of Maritime Intelligence (Lloyd's List) completes £2.5bn ($3bn) GAP II Portfolio Focus Programme

Informa (LSE: INF.L), the international Academic Markets, B2B Markets and Digital Services Group, today announces the completion of its Portfolio Focus programme following the divestment of Maritime Intelligence (Lloyd's List) for £385m ($458m); Total value realised through the
Group's 2021-2024 Growth Acceleration Plan (GAP II) is c.£2.5bn (c.$3bn).

GAP II: Completion of Portfolio Focus

The GAP II programme sees Informa reinforce its position as a leading player in both Academic Markets and B2B Markets.

As part of GAP II, Informa has:

·      Generated c.£2.5bn (c$3bn) of total value through the divestment of its Intelligence portfolio, at a blended 2021 EV/EBITDA multiple of 28x;

·      Divested of Pharma Intelligence (Citeline) at a valuation of £1.9bn (c.$2.3bn) to Warburg Pincus, retaining a 15% equity interest;

·      Divested of Maritime Intelligence (Lloyd's List), at a valuation of £385m (c.$458m) to Montagu, receiving cash proceeds (subject to finalisation of working capital and capital structure) whilst retaining a 20% equity interest;  

·      Divested of Fund Flow Intelligence (EPFR) at a valuation of £162m (c.$193m) to Montagu;

·      Expanded in B2B Digital Services with the acquisition of Industry Dive, a leader in specialist digital content and audience development for £327m ($389m), augmenting our digital services capabilities and delivering further content-led services to specialist B2B markets;

·      Invested for Growth: Initiated the GAP II investment programme initially focusing on strengthening Open Research platforms in Academic Markets, the continuing roll-out of IIRIS (First Party Data) across the B2B portfolio, and enhancing the quality and range of smart event services;

·      Expanded by Market, increasing Informa's presence in the growing Beauty & Personal Care B2B market by extending a partnership with BolognaFiere into 5+ new geographies, including Mainland China, the Middle East and the US;

·      Expanded Geographically in the Middle East through a new partnership agreement to bring additional Live & On-Demand B2B Events to Saudi Arabia, following the success of the landmark Tech event, LEAP.

Chief Executive Stephen A. Carter concluded:

"We have come through a period of unprecedented volatility due to COVID-19 as a stronger Group that is positioned for growth in the global Knowledge Economy. We have refocused our portfolio on Academic Markets and B2B Markets - where we Champion the Specialist - whilst securing highly attractive valuations for our portfolio of non-core Intelligence businesses.

"Despite the wider macro-economic uncertainties, we remain confident of delivering our guidance for the current year, alongside delivering accelerated returns to shareholders through a £725m share buyback and the resumption of ordinary dividends."

¹ Continuing and Discontinued operations

About Maritime Intelligence

Maritime Intelligence is at the heart of global seaborne transport and trade, providing the information needed by professionals at the right time and in the right format, to help them make better decisions, more quickly. Under the brand Lloyd's List Intelligence, it provides business critical real-time data, insights and analytics that help power global shipping operations and risk and compliance management

In 2021, Maritime Intelligence accounted for approximately 12% of Informa Intelligence's divisional revenues of £348.3m and around 15% of adjusted operating profit of £109.8m. Reported revenues were £43m and statutory profit before tax was £15m for 2021.  Gross assets were £103.3m as at 30 June 2022.