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2001 INTERIM RESULTS ANALYST PRESENTATION Market ResearchNews Distribution Professional Media.

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Presentation on theme: "2001 INTERIM RESULTS ANALYST PRESENTATION Market ResearchNews Distribution Professional Media."— Presentation transcript:

1 2001 INTERIM RESULTS ANALYST PRESENTATION Market ResearchNews Distribution Professional Media

2 2 Very tough trading conditions High tech ad decline / US economic slowdown Revenue down 4% Operating profit & EPS down 38% £60m savings secured for 2001: £15m impact in H1 Market share gains in all core businesses Financial & Operational Summary

3 3 £250m cash balance after £1.25bn share buy back Building market leading positions Revenue and cost synergies from group operations Acquisitions: total $150m PRN:CyperusANP NOP:Allison Fisher Roper Starch Development Summary

4 4 $88m : 1.3 times 2000 revenue of $69m Leading consumer trends consultancy Consumer, healthcare, automotive, IT, financial 50/50 syndicated Vs custom Significant costs & revenue synergies New growth opportunities Roper products to new geographies and markets NOP World products to Roper client base Earnings accretive in first full year Acquisition of Roper Starch

5 5 UBM aims to become a key provider of market information to high growth sectors including Information Technology Healthcare Media Uniteds Strategy

6 6 Events & Conferences Syndicated Research Customised Research Consultancy Services United Presence ITHealthMedia Editorial & Advertising Educational & Training News Distribution & Monitoring

7 7 CMP June in line with expectations Not planning on recovery in US in 2001 Quality of CMP titles maintains yield and boosts market share Market research good progress Healthcare and syndicated buoyant News distribution revenues ahead profits checked by higher investment 2001 savings of £60m weighted to H2 Continued investment in new products Current Trading & Outlook

8 2001 INTERIM RESULTS FINANCIAL REVIEW Market ResearchNews Distribution Professional Media

9 (19.1) Continuing turnover (£m) Continuing operating profit (£m) Interest (£m) Post Interest Cont op profit (£m) Discontinued operating profit (£m) PBT * (£m) EPS * (p) Dividend per share (p) Financial Results Six months to 30 June Change % (39.8) (4.3) (37.8) (48.0) (37.2) *before exceptionals and amortisation of intangibles

10 (13.7) (19.1) Profit & Loss Six months to 30 June (49.9) (33.9) (16.7) (3.8) (37.8) £m 2001 £m Group Turnover Operating Profit Change % Change % Underlying % Underlying % Professional Media News Distribution Market Research Business Services Consumer Media Online Total Continuing Discontinued (51.4) (3.9) 5.4 (36.1) (16.7) (2.8) (39.4) - (12.3) (7.4) (7.9) (29.9) (8.3) - (9.2) (3.2) (7.9) (25.9) (4.3) Offline Margin 15.4% (22.1%)

11 Professional Media Six months to 30 June 2001 £m 2000 £m Change % Underlying% Turnover CMP Media CMP Asia CMP Information Total Operating Profit CMP Media CMP Asia CMP Information Total Margins % (17.9) (12.3) (57.0) (4.3) (86.7) (51.4) (12.2) 1.7 (2.3) (9.2) (55.8) 16.7 (90.7) (49.9)

12 News Distribution Six months to 30 June 2001 £m 2000 £m Change % Underlying % Turnover US RoW Operating profit US RoW Margins % (3.9)

13 Market Research Six months to 30 June 2001 £m 2000 £m Change % Underlying % Turnover US RoW Operating profit US RoW Margins

14 14 United Today Six months to 30 June 2001 Continuing offline turnover By Ad % / Non-Ad % High Tech Advertising = 17% profits High Tech Ad Other Ad Non Advertising

15 15 1,553.0 (1,250.5) 61.7 (53.0) (20.1) (56.8) (18.5) (29.2) Opening cash Less return of capital B shares outstanding Investments Interest received Profit less net working capital Capex Dividend paid Tax paid Other Closing cash Cashflow Six months to 30 June 2001 £ms

16 2001 INTERIM RESULTS Operating Review Market ResearchNews Distribution Professional Media

17 17 Saved £15m in H1 Secured £60m in staff, or 9% headcount reduction A third of savings relate to staff Reductions also include Marketing, CMPnet structure Office consolidation, administration, systems Substantial group initiatives in hand for 2002/03 Action on Costs Group Wide

18 18 REVENUE Share client database for cross promotion and selling NOP uses database to create panels Best practice PRN sales training to NOP PRN news distribution & webcasting for all tradeshows COSTS Central review: economies of scale and remove duplication Single networks and common webhosting Standard group applications, shared IT services Synergies From Group Operations

19 Professional Media Six months to 30 June Publications % Events % Turnover CMP Media CMP Asia CMPi Total Operating Profit CMP Media CMP Asia CMPi Total

20 20 Monthly Market Share Analysis By Ad Page Volumes January - December 2000 (Based on Ad Pages) 29.5% CMP 8.9% Ziff 10.4% IDG 10.5% Cahners 5.5% Penton Source: IMS/Auditor CMP – High Tech 2001 Ad Page Volumes in June CMP Down 24% Ziff Davis Down 39% IDGDown 52%

21 21 Professional Media CMP Media Yield maintained Quality of Brands Reinforced Launch programme: up to $10m Launch 2 new publications in autumn Extend proven brands to new markets Digital database Launch platform for new products Inside Magazine M Business on target

22 22 Professional Media No change in number of advertisers Cut backs in level of advertising Revenue from top 25 broadly as in 2000 Medium & smaller companies reduced Resilience of core client business Demonstrates quality of CMP brands

23 23 Market share: net gain of 70 listed companies Underlying revenue ahead US revenue per message up 12% Reg FD driving message length, secured price increase US message volume down 12% Earnings releases up 9% / Reg FD helps trading updates up over 50% M&A, IPOs and New products all down approx 40% Downturn in discretionary masking significant underlying growth in non-discretionary business Measuring & monitoring now 13% (11%) of revenue News Distribution

24 24 Increasing market share NOP UK revenue growth firmly ahead of UK market MRI performing strongly, increased client base Healthcare buoyant, new products E-market for pharmaceuticals Sales Force Assessor MMI & ePocrates strategic alliance DTC e-monitor Market Research

25 25 Costs cut Short term mitigation Drive synergies Shared infrastructure New revenue streams & new products Integration of acquisitions Continuing to invest to drive market share Operating Summary

26 Tough market Firm action on costs Market share gains in all businesses Investing to drive future revenue growth and take further market share

27 2001 INTERIM RESULTS Market ResearchNews Distribution Professional Media

28 28 United Today Six months to 30 June Continuing offline by % Turnover Operating Profit


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