Coronavirus COVID-19 Update Call Andrew Rashbass and Wendy Pallot - - PowerPoint PPT Presentation

Andrew Rashbass and Wendy Pallot 11 March 2020

Coronavirus COVID-19 Update Call

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update of, or revisions to, any forward-looking statements, opinions (which are subject to change without notice) or any other information or statement contained in this Presentation. Furthermore, past performance of the Group cannot be relied on as a guide to future performance. No statement in this document is intended as a profit forecast or a profit estimate and no statement in this document should be interpreted to mean that earnings per Euromoney Institutional Investor PLC share for the current or future financial years would necessarily match or exceed the historical published earnings per Euromoney Institutional Investor PLC share. Nothing in this document is intended to constitute an invitation or inducement to engage in investment activity. This document does not constitute or form part of any offer for sale or subscription of, or any solicitation of any offer to purchase or subscribe for, any securities nor shall it or any part of it nor the fact

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Disclaimer

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Coronavirus COVID-19

■ Highly disruptive and very fast moving ■ Priority is the health and wellbeing of our employees, customers and other

business partners

■ Taking decisions that are right for our staff, customers and the long-term

health of the business

■ Some events already cancelled or postponed. More under review in

consultation with customers

■ Using virtual events introduced in some cases, with good customer

response

■ June and September are particularly large months for events ■ Successfully run events with £42m of revenue to end February 2020 ■ Shift to 3.0 events – increasing focus on facilitating deal-making at events – is

increasing the value of face-to-face meetings

Events portfolio in context

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FY19 event revenue by segment by quarter

5 10 15 20 25 30 35 40 45 QTR to Dec QTR to March QTR to June QTR to Sept £m DMI FastMarkets Asset Management

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Definite financial impact so far

■ So far we have cancelled 25 events with a revenue impact of £3m ■ We have postponed 55 events, with 9 moving into FY21, with total FY20

revenue impact of postponement of £3m

■ Overall impact on FY20 is to reduce revenue by £6m and gross profit by

£5m before mitigating cost savings

■ Taken cost action to mitigate some of the effect on short term profitability,

while protecting the long-term

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Events exposure to end June 2020

■ Financial profile for remaining events from now to June 2020 is:

□ Revenue approximately £40m □ Gross profit, including committed costs, approximately £30m

■ Some events may run, some may be postponed into later months in FY20 – no firm

decisions at this stage. Particularly hard to know what the position will be for June

5 10 15 20 25 30 March (remainder) April May June

£m

Events revenue by month

Asia 8% Europe 21% Middle East 2% North America 54% UK 8% Other 7%

Events revenue by geography

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Strong balance sheet

■ Net cash at end February of £12.2m, after payment of final dividend ■ Unutilised committed facilities of £240m ■ No debt maturities ■ Low capital intensity business ■ High cash conversion (98% in FY19), driven by subscriptions

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Summary

■ Priority is the health and wellbeing of our employees, customers and other

business partners

■ COVID-19 is fast moving and disruptive but we are working proactively with

customers to manage the impact on events

■ Strong event brands and customer relationships position our events for the

long term

■ Euromoney has a high proportion of subscription revenue and very strong

balance sheet

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Q&A

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Investor Relations contacts

Euromoney Institutional Investor PLC

Wendy Pallot | Chief Financial Officer Chris Collett | Investor Relations 8 Bouverie Street London EC4Y 8AX Tel: +44 (0)20 7779 8888

FTI Consulting

Charles Palmer Jamie Ricketts 200 Aldersgate, Aldersgate Street London EC1A 4HD Tel: +44 (0)20 3727 1000