LexisNexis acquires Law360

March 21, 2012 — Fusion DigiNet

LexisNexis has acquired Portfolio Media, the parent company of Law360, an online provider of legal news and analysis for business lawyers, primarily in the United States.

“Breaking legal news and analysis are critical for legal professionals as they drive success for their businesses and clients,” said Bob Romeo, CEO of Research and Litigation Solutions at LexisNexis. “Law360 is a key element of our growth strategy because it adds legal news and analysis, a crucial part of an attorney’s workflow and a key entry point to legal research.”

Law360 publishes breaking news and analysis with a particular focus on high-stakes litigation across more than 30 practice areas. This content is distributed through online daily newsletters that are read by over 100,000 law firm and business professionals ranging from litigators, corporate counsel and transactional attorneys to law librarians and legal administrators.

“We are excited to have our premier legal news and analysis offering join the LexisNexis family. We see it as a great opportunity to extend our reach, expand our portfolio of content, and create new and innovative ways to deliver it to customers,” said Marius Meland, co-CEO and co-founder of Law360. Headquartered in New York City, Law360 was founded in 2004 by Meland and co-CEO Magnus Hoglund. They will continue to run the company as a stand-alone business, while leveraging the content and analytical resources and distribution of LexisNexis.

Law360 distinguishes itself through the unique combination of speedy delivery of more than 130 original legal news stories daily, the journalistic standards of its experienced editorial team, and its content generation platform that tracks in real-time dockets and regulatory filings – enabling reporters to break major developments in litigation, deal making and legislation before anyone else.

USA, New York, NY

Related articles

Posted in Content Media, Market Data & Information, Publishers, Research Reports, ~North America. Leave a Comment »

Axel Springer achieves double-digit growth in revenues and earnings in 2011

March 7, 2012 — Fusion DigiNet

Axel Springer has announced full year results for 2011.

Highlights

  • EBITDA rises 16.2 percent to EUR 593.4 million
  • EBITDA margin improves to 18.6 percent
  • Revenues grow by 10.1 percent
  • Digital Media with significant increase in revenues and earnings
  • Proposed dividend of EUR 1.70

Axel Springer achieved record results in 2011. Group EBITDA rose by 16.2% and total revenues improved by 10.1% over the previous year. This was due to significant growth of earnings and revenues in the Digital Media and Print International segments as well as the continued high profitability of the national print media. The Magazines National segment even posted a record EBITDA. The company grew both organically and through acquisitions. The EBITDA margin rose from 17.6% for the previous year to 18.6%. The results slightly exceeded Axel Springer’s earnings guidance, which was issued in March and later revised upward due to the anticipated revenue growth. The dividend is expected to increase to €1.70 per share (PY: €1.60).

The 2011 annual report can be downloaded from www.axelspringer.de/fy11

Related articles:

Germany, Berlin

Posted in Company Results, Content Media, Internet Media, Market Data & Information, Publishers, ~Europe. Leave a Comment »

Tarsus Group plc – Final results for the year ended 31 December 2011

March 7, 2012 — Fusion DigiNet

Tarsus Group plc, the international business-to-business media group, has published final results for the year ended 31 December 2011. Adjusted pre-tax profits are up 77% and net debt has been halved. Tarsus also continued to implement rapidly its strategy of developing businesses in the Emerging Markets, with these operations now contributing approximately 38% of Group revenues.

Financial highlights

  • Revenue up 42% to £61.7m (2010: £43.6m)
  • Like-for-like revenues up 8%
  • Adjusted profit before tax up 77% to £16.8m (2010: £9.5m)
  • Adjusted earnings per share up 63% to 17.0p (2010: 10.4p)
  • Proposed final dividend of 4.2p, total for year up 5% to 6.3p (2010: 6.0p)
  • Net debt halved to £13.7m (31 December 2010 £28.6m) – ahead of expectations

Operational highlights

  • Emerging Markets continued to grow strongly – 38% of proforma Group revenues
  • Major strategic expansion into Turkey – acquisition of IFO
  • Medical Division achieved 23% organic revenue growth
  • Labelexpo Europe and Asia (China) both produced record results
  • Dubai Airshow, the Group’s largest event, grew revenues by 3%, attendance up 7%

Outlook

  • Forward bookings represent approximately 53% of anticipated full year revenues (2010: 49%).
  • Off Price February 2012 revenues up 7%

Financial Results

 

2011

2010

2009
Revenue (£m)

61.7

43.6

57.5
Like-for-like* revenue growth

8%

6%

1%
Profit before tax (£m)

3

5.3

6.8
Adjusted profit before tax* (£m)

16.8

9.5

14.6
Adjusted EPS* (pence)

17

10.4

17.4
Dividend (pence)

6.3

6

6
Net Debt (£m)

13.7

28.6

30.8

Neville Buch, Chairman of Tarsus, commented, “2011 was a record year with the Group achieving a strong financial performance, both on a year-on-year and biennial basis, and we have halved our debt level. “We are on course to achieve our target of securing 50% of our revenues from the Emerging Markets by 2013 with revenues currently at 38% on a proforma basis. This was achieved alongside a stronger than expected performance by the US business. “We have now established strong positions in the US, China, Turkey and the Middle East and are focused on continuing to build our portfolio in these markets through a combination of organic and acquisitive growth. Our increasing exposure to the higher growth opportunities across these markets, in the short to medium term, should drive earnings and dividends. In the current year we are encouraged by the momentum in both our US and Emerging Markets businesses, where bookings are tracking ahead of their comparative events.”

UK, London

Related articles:

Posted in Company Results, Conference/Exhibitions/Events, Content Media, Internet Media, Market Data & Information, Publishers, ~Europe. Tags: , . Leave a Comment »

Progressive Digital Media Group Plc announces preliminary results for 2011

March 7, 2012 — Fusion DigiNet

Progressive Digital Media Group Plc has announced preliminary results for the year ended December 31, 2011. Progressive Media Group Plc provides premium business information, research services and marketing solutions for senior level decision makers

Highlights

Key achievements in 2011

  • Delivery of revenue and earnings growth
  • Renewed our focus on the Consumer and Technology Business Information markets
  • Plans in place for International expansion in 2012
  • Infrastructure in place for future growth

Financial performance

  • Group revenue increased by 13.3% to £54.4m (2010: £48.0m)
  • Adjusted EBITDA increased by 91.2% to £7.3m (2010: £3.8m)
  • Adjusted EBITDA Margin increased to 13.5% (2010: 8.0%)
  • Reported EBITDA increased by 143.5% to £5.7m (2010: £2.3m)
  • Reported loss before tax of £7.9m (2010: Loss £4.6m) inclusive of a non-cash impairment charge of £9.4m.

Mark Meek, CEO of Progressive Digital Media Group plc, commented, “These are a strong set of results delivered during a period of substantial change and investment. Moreover, this has been achieved in a period of relatively weak economic conditions. We are beginning to benefit from the significant investments in business information content, staff and delivery platforms and to reap rewards from the efficiencies we have achieved through the introduction and integration of common processes and systems.”

Read the announcement

UK, London

Related articles:

Posted in Company Results, Content Media, Internet Media, Market Data & Information, Publishers, ~Europe. Leave a Comment »

IHS closes three acquisitions:

March 5, 2012 — Fusion DigiNet

IHS Inc. has closed three acquisitions:

  • Displaybank, a market research and consulting provider for the display industry,
  • the Computer Assisted Product Selection (CAPS) electronic components database and tools business from PartMiner Worldwide,
  • and the digital oil and gas pipeline and infrastructure information business from Hild Technology Services.

The combined purchase price of the acquisitions is approximately $45 million.

Displaybank delivers a portfolio of products and services focused on subscription-based market and planning advisory services, consulting-based business advisory services, conferences and events serving the global flat-panel display industry. Founded in 1999, Displaybank is headquartered in Seoul, Korea, with offices in the U.S., Japan, China and Taiwan.

“The acquisition of Displaybank will help to solidify our position as a world-leading provider of technology, media and telecommunications information and analysis,” said IHS Chairman and Chief Executive Officer Jerre Stead. “With its base of operations in Korea, Displaybank will also deepen our Asia Pacific research and analysis capabilities – an area that’s critical to our company’s growth.”

The CAPS database is a source for identifying specific electronic components based on engineering specifications. It combines information on more than 265 million physical devices, along with intuitive tools for integration into engineering design processes and applications. It includes comprehensive and current information for electronic and electro-mechanical components to support engineering selection and procurement decisions for military and commercial applications.

IHS President and Chief Operating Officer Scott Key said: “The acquisition of the CAPS family of products will significantly enhance our existing electronic parts information business to provide greater breadth and depth of content to our global customers. The CAPS content coverage, selection and list management tools, sourcing relationships and integration framework, along with the subscription nature of the CAPS business, makes it an excellent strategic fit for IHS as well.

Hild Technology’s digital oil and gas pipeline and infrastructure information business meets a need for energy producers and refiners in North America, offering pipeline infrastructure information for upstream strategic planners, gas marketers and refiners. The information is updated daily and available on a national, state and county level, and is delivered via shapefiles, geodatabase and secure data exchange, along with 11 years of historical data.

According to Key, the acquisition of Hild’s oil and gas pipeline and infrastructure information business “will help IHS meet a critical need for energy producers and refiners in North America by integrating it into the existing IHS Midstream Essentials product and creating an even more robust offering that adds tremendous value for our customers.”

USA, Englewood, CO & Korea, Seoul

Related articles:

IHS makes five acquisitions – CMAI, ODS-Petrodata, Dyadem International, EIATrack & CSM South America Posted on June 14, 2011

Posted in Conference/Exhibitions/Events, Content Media, Internet Media, Market Data & Information, Publishers, ~Asia, ~North America. Leave a Comment »

UBM 2011 results

February 28, 2012 — Fusion DigiNet

UBM plc has reported 2011 results.

Highlights

  • Revenues up 9.3% to £972.3m – underlying revenue(a) growth of 7.9%
  • Adjusted operating profit up 17.5% at £201.9m
  • Margin up to 20.8% from 19.3%
  • Fully diluted adjusted EPS up to a record of 56.8p, 6.6p (13.1%) up on 2010
  • Full year dividend up to a record of 26.3p, (2010: 25.0p)
  • Cash generation from operating activities up 31.7% to £203.7m (100.7% cash conversion)
  • Events profits up 44.6% to £135.2m, 62.5% of total excluding corporate costs
  • Emerging Markets revenues up 24.4% to £207.1m
  • Emerging Markets operating profit up 33.4% to £65.6m representing 30.4% of total
  • £71.2m invested in eight acquisitions
  • Debt profile improved with maturities extended, net debt of 2.4x EBITDA

David Levin, UBM’s Chief Executive Officer, commented:  “2011 has been a strong year for UBM, with EPS up over 13% to a record 56.8p.  An outstanding performance from our Q4 biennial events capped off a year of consistent delivery in which all our businesses met or exceeded their targets for the year. On the back of these results, the Board has declared a final dividend of 20p, up 1p over 2010, resulting in a record dividend for the year.”

“These results are the fruit of our consistent strategy to focus on providing marketing, communications and data services, in winning formats, to thriving business communities.  Our Emerging Markets revenues grew by more than 24% during 2011 and contributed just under a third of our overall profits: in 2011 we generated more revenue in China than in Europe for the first time. Our Events business performed particularly well and 1.7 million people attended UBM events in 2011, up from 1.3 million in 2010 with profits growing by 45%. The solid performance of Data Services and PR Newswire in 2011 reflects the initial benefits of our continuing investment in these businesses. Our Marketing Services businesses also continue to develop well, with the combined effects of continuing strong digital growth and print disposals likely to result in online revenues outstripping print revenues in 2012.”

“2012 trading has started well. We anticipate continued underlying growth and a positive performance across the business whilst recognising the continuing uncertainties of the global economy.”

Business performance

Full Year 2011

Full Year 2010

Change %

Change at CC

%

Underlying Change %
Revenue

£972.3m

£889.2m

9.3

11.3

7.9
Adjusted operating profit

£201.9m

£171.8m

17.5

19.8

2.3
Adjusted operating profit margin

20.8%

19.3%

1.5%pts

 

 
EBITDA

£218.7m

£188.2m

16.2

 

Adjusted PBT

£177.4m

£156.4m

13.4

 

 
Adjusted EPS

Fully diluted adjusted EPS

57.8p

56.8p

51.0p

50.2p

13.3

13.1

 

 
Dividend per share

26.3p

25.0p

5.2

 

 
Cash generated from Operations

£203.7m

£154.7m

31.7

 

 

 

 
IFRS Statutory results (£m)

Full Year
2011

Full Year
2010

Change
%
Revenue

972.3

889.2

9.3
Operating profit

155.4

132.3

17.5
Profit after tax

86.1

99.4

(13.4)
EPS (p)

31.1

37.3

(16.6)
Net Debt

526.4

484.6

 

 

 

  

Operational Highlights

Segmental results

 

Full Year

Full Year

Change

Change at CC

Underlying Change
£m

2011

2010

%

%

%
Revenue

Events

396.9

310.0

28.0

30.8

14.6
PR Newswire

187.8

181.2

3.6

6.6

4.2
Data Services

187.0

184.7

1.2

2.3

3.0
Marketing Services – Online

88.5

69.2

27.9

31.7

16.4
Marketing Services – Print

112.1

144.1

(22.2)

(22.0)

(4.6)
Total Revenue

972.3

889.2

9.3

11.3

7.9
 

 

 

 
Adjusted Operating Profit

 

 

 
Events

135.2

93.5

44.6

47.9

 
PR Newswire

41.0

42.1

(2.6)

0.2

 
Data Services

30.3

34.1

(11.1)

(11.1)

 
Marketing Services – Online

3.6

1.3

176.9

200.0

 
Marketing Services – Print

6.1

10.0

(39.0)

(40.2)

 
Net corporate costs

(14.3)

(9.2)

(55.4)

(55.4)

 
Total Adjusted Operating Profit

201.9

171.8

17.5

19.8

 
 

 

 

 

 

 
Adjusted Operating Profit Margin          
Events

34.1%

30.2%

3.9%pts

  
PR Newswire

21.8%

23.2%

(1.4)%pts

  
Data Services

16.2%

18.5%

(2.3)%pts

  
Marketing Services – Online

4.1%

1.9%

2.2%pts

  
Marketing Services – Print

5.4%

6.9%

(1.5)%pts

  
Total Adjusted Operating Profit Margin      

20.8%

19.3%

1.5%pts

 

 

Read the full announcement

UK, London

Related articles:

Posted in Company Results, Conference/Exhibitions/Events, Content Media, Internet Media, Market Data & Information, Marketing/Advertising, Publishers, ~Europe. Tags: , . Leave a Comment »

A Fusion Deal: Fertilizer market information and analysis business Fertecon sold to Informa Group

February 28, 2012 — Fusion DigiNet

Fusion Corporate Partners are pleased to announce our second deal of 2012. The sale of fertilizer market information and analysis business Fertecon Limited to Informa Group.

FERTECON, founded in 1978, provides on subscription only,  price discovery, current information and analysis services to the global fertilizer industry.  Its data and forecasts are used by virtually all the leading fertilizer companies in the world as well as by many financial institutions.

Barrie Bain, Chairman and one of the founders of FERTECON Limited said, “This is an exciting development. FERTECON is an excellent fit with Informa’s Agra group. Agricultural developments drive the fertilizer market and the combination of FERTECON fertilizer industry knowledge with Agra’s insight into the agrifoodsector will create a unique resource of information and analysis. Informa’s knowledge of the food, freight, and energy sectors will significantly enhance FERTECON’s services to the fertilizer industry. FERTECON has a great team of market analysts and now they will have access to the resources of the Informa Group. ”

Barrie Bain and Vivien Bright, two of the former shareholders and directors of FERTECON Limited, will join Informa to help build FERTECON within the Group. Terry Phillips, the third shareholder and director, will work on a consultancy basis for the FERTECON business.

Paul Slight, Director at Fusion, said, “It was a pleasure to work with Barrie, Vivien and Terry. They have built a great business over the last 30 years and it will be an excellent fit with Informa’s Agra group.”

Fusion acted exclusively for the shareholders of Fertecon Limited. The team responsible for this transaction were Paul Slight (pslight@fusioncorp.co.uk) and Paul Kelly (pkelly@fusioncorp.co.uk). Waterfront Solicitors, headed by Matthew Cunningham, provided legal advice to the vendors.

UK, London and Tunbridge Wells, Kent

Related articles:

1. Media and Information Deals

3. Events, Broadcast and Other deals
Posted in Content Media, Fusion Deal, Market Data & Information, Publishers, ~Europe. Tags: , , . Leave a Comment »

72% rise in profits at Pearson

February 28, 2012 — Fusion DigiNet

Pearson Plc has reported 2011 Preliminary results.

 

Financial performance

  • Sales up 6% at CER in spite of tough trading conditions in many markets.
  • Adjusted operating profit up 12% to £942m with growth in all businesses.
  • Adjusted EPS up 12% to 86.5p (headline growth).
  • Cash conversion remains strong at 104%; operating cash flow of £983m (£1,057m in 2010, which benefited from an unusually high working capital contribution).
  • Return on invested capital of 9.1%, above Pearson’s cost of capital; ROIC lower than in 2010 largely due to significant acquisition spend and higher cash tax.

Growth markets

Digital revenues up 18% in headline terms to £2bn, now 33% of Pearson’s sales. Substantial digital growth in all parts of Pearson including:

  • Students using digital learning programmes up 23% to 43m.
  • Penguin eBook revenues up 106%; now 12% of total Penguin revenues.
  • FT digital subscriptions up 29% to 267,000; approximately 44% of total paid circulation.

Developing markets revenues up 24% in headline terms to $1bn ($834m in 2010), now 11% of Pearson’s sales.

Other highlights

  •  Operating margins reach 16.1% (up 1.0% points)
  • £896m invested in acquisitions including Schoolnet and Connections Education in North America and Global Education in China.
  • Balance sheet net debt of £499m – approximately £1bn of headroom available for bolt-on acquisitions.
  • Dividend raised 9% to 42.0p, representing Pearson’s 20th consecutive dividend increase.

Outlook

  • Pearson expects to achieve continued sales and operating profit growth in 2012, in spite of tough trading conditions and rapid industry change.
  • Revenues from digital and services businesses expected to exceed revenues from traditional publishing businesses in 2012.

Marjorie Scardino, chief executive, said: “The external environment provides a testing backdrop for these results, and all our industries face some degree of turbulence. But our strategy and long-term planning for change have helped us to another good year to add to our record of persistent out-performance. We believe those qualities, combined with the commitment and innovation of our people, will continue to serve our customers and our shareholders well.”

Financial summary

£ millions

2011

2010

Headline growth

CER growth

Underlying growth
Business performance
Sales

5,862

5,663

4%

6%

1%
Adjusted operating profit*

942

857

10%

12%

7%
Adjusted earnings per share

86.5p

77.5p

12%

Operating cash flow

983

1,057

(7)%

Free cash flow

772

904

(15)%

Free cash flow per share

96.5p

112.8p

(14)%

Return on invested capital

9.1%

10.3%

(1.2)% pts

Net Debt

499

430

(16)%

Statutory results
Sales

5,862

5,663

4%

Operating profit

1,226

743

65%

Profit before tax

1,155

670

72%

Basic earnings per share

119.6p

161.9p

(26)%

Cash generated from operations

1,093

1,169

(7)%

Dividend per share

42.0p

38.7p

9%

* Continuing operations

Divisional analysis

£ millions

2011

2010

Headline growth

CER growth

Underlying growth
Sales
North American Education

2,584

2,640

(2)%

1%

(1)%
International Education

1,424

1,234

15%

15%

4%
Professional

382

333

15%

17%

2%
FT Group

427

403

6%

8%

7%
Penguin

1,045

1,053

(1)%

1%

1%
Total

5,862

5,663

4%

6%

1%
Adjusted operating profit
North American Education

493

469

5%

9%

8%
International Education

196

171

15%

13%

2%
Professional

66

51

29%

31%

10%
FT Group

76

60

27%

22%

17%
Penguin

111

106

5%

8%

8%
Total continuing

942

857

10%

12%

7%

Read the full announcement

UK, London

Related articles:

Posted in Company Results, Conference/Exhibitions/Events, Content Media, Internet Media, Market Data & Information, Publishers, Training/Education, ~Europe. Tags: , . Leave a Comment »

Thomson Reuters full year and fourth quarter results

February 10, 2012 — Fusion DigiNet

Thomson Reuters has reported results for the full year and fourth quarter ended December 31, 2011. Results include a $50 million charge primarily related to a reorganisation of the former Markets division incurred in the fourth quarter. The company also announced it had taken a $3.0 billion non-cash goodwill impairment charge related to its financial services business. This charge is excluded from adjusted earnings, adjusted EBITDA and underlying operating profit.

The company reported full-year revenues from ongoing businesses of $12.9 billion, an increase of 5% before currency from the prior year. Adjusted EBITDA increased 20% from the prior year with the corresponding margin up 280 basis points to 26.4%. Underlying operating profit increased 9% from the prior year with the corresponding margin up 50 basis points to 20.0%. The reorganisation charge had a 40 basis point negative impact on both the full-year adjusted EBITDA and underlying operating profit margins.

“Our results once again proved the resilience of our business,” said James C. Smith, chief executive officer of Thomson Reuters. “The units in the former Professional division continued to perform well and we made significant strides in kick-starting the growth engine in our former Markets division.”

“We have simplified our organization; we have strengthened our management team; and we are making progress toward improving our execution capability,” Mr. Smith said. “We are focused in 2012 on a series of product launches and service improvements across all our key customer groups.”

 

  • Revenues from ongoing businesses were $12.9 billion, a 5% increase before currency. Strong growth across the Professional division, up 9%, and a 2% increase in Markets division revenues drove the overall increase.
  • Adjusted EBITDA increased 20% and the corresponding margin was 26.4% versus 23.6% in the prior year. Excluding the reorganization charge, adjusted EBITDA increased 21% and the corresponding margin increased 320 basis points to 26.8%.
  • Underlying operating profit increased 9% and the corresponding margin was 20.0% versus 19.5% in 2010. Excluding the reorganization charge, underlying operating profit increased 12% and the corresponding margin increased 90 basis points to 20.4%.
  • Adjusted EBITDA growth and underlying operating profit growth across both divisions was due to flow-through from higher revenues, integration savings and the benefit of currency. Adjusted EBITDA also benefited from lower integration expenses. Excluding currency, adjusted EBITDA increased 17% and underlying operating profit increased 7%.
  • Adjusted EPS was $1.98 compared to $1.56 in the prior year. The increase was largely attributable to higher underlying operating profit and lower integration expenses. Adjusted EPS excluding the reorganization charge was $2.03. Currency had a $0.06 favorable impact on adjusted EPS.
  • Free cash flow was $1.6 billion, up 2%. Corporate expenses were $273 million versus $249 million in the prior year.
  • The company incurred a $3.0 billion goodwill impairment charge in the fourth quarter. This non-cash charge was the result of the company’s annual goodwill impairment testing required under IFRS and related to the company’s financial services business. On an IFRS basis, EPS including the goodwill impairment charge was a diluted loss per share of $1.67 for the full year. This non-cash charge will not impact the company’s normal business operations, nor will it affect liquidity, cash flow from operations or financial covenants under the company’s outstanding public debt securities or syndicated credit facility.

Click here for the fourth quarter results and full announcement

USA, New York

Related articles:

Posted in Company Results, Content Media, Market Data & Information, Publishers, ~North America. Leave a Comment »

Scripps provides revenue guidance for 2012

January 19, 2012 — Fusion DigiNet

The E. W. Scripps Company has provided a broad outlook for the revenue performance of its television stations and newspapers in 2012.

For the full year 2012, total television revenues should increase by more than 50 percent. That includes more than $100 million of revenue for the stations that were acquired from McGraw-Hill Broadcasting Company on December 30, 2011.

Excluding the newly acquired stations, television revenue should increase more than 15 percent, fueled by low-to-mid-single-digit growth of core revenue, and political revenue that should exceed the $42 million figure reported in the previous presidential election cycle.

Newspaper revenue should be down slightly to approximately $400 million.

The commentary was part of prepared remarks at the Noble Financial Equity Conference. A replay can be heard by visiting the investor relations page at http://www.scripps.com.

More-detailed guidance for the first quarter of 2012 will be released when the company reports its year-end earnings in February.

USA, Cincinnati, OH

Related articles

The E.W. Scripps Company third quarter results Posted on November 9, 2011

 

 

Posted in Broadcasting, Company Results, Content Media, Internet Media, Market Data & Information, Publishers, ~North America. Tags: , , . Leave a Comment »
« Older posts
Newer posts »