Informa plc treating 2021 as ‘transition year’ as FY2020 results show 63.5% revenue drop in exhibition division
Global exhibition, publishing and business information multinational, Informa plc has reported an underlying operating profit of £268m (US$372.8m) on revenues of £1.6bn in its FY2020 results, although its Informa Markets division, which includes exhibitions, was hit hard and saw a 63.5% revenue drop for the year.
The FY plc results also reflect a one-off Covid-19 non-cash impairment of goodwill (£592.9m) and exceptional costs that led to a statutory operating loss of £880.4m (compared to an operating profit of £538.1m) for the year ended 31 December 2019).
Informa also delivered £600m of cost-savings, a 30% reduction in net debt, while securing the balance sheet with over £1bn of liquidity and removed all financial covenants.