Aegis Group acquires Hungarian out-of-home agency PPI Central Europe

March 14, 2012 — Fusion DigiNet

Media and digital communications group Aegis Group plc has acquired the Hungarian Out-of-Home agency PPI Central Europe Ltd (“PPI”). PPI will be rebranded to become part of the Posterscope EMEA division of Posterscope Worldwide. The value of the gross assets of PPI at the end of 2011 was €1 million. The acquisition follows a long working relationship between Aegis Hungary and PPI.

Established in Budapest in 2001 PPI is a leader in the Hungarian outdoor specialist market serving a strong list of domestic and international clients. Its expertise lies in using the latest technology for enhanced capability in campaign planning, site selection, buying and campaign appraisal to deliver distinct competitive advantage in the central European Out-of-Home market.

Commenting on the acquisition Annie Rickard, Global CEO, Posterscope says: “We extend a very warm welcome to PPI and are excited to be bringing Posterscope to Hungary where Out-of-Home plays a central role in advertising. PPI’s innovative methods and extensive experience, knowledge and professionalism are driven by an accomplished management team. The new operation will add further strength to our comprehensive European network and bring new client opportunities into play by opening up central Europe.”

UK, London & Hungary, Budapest

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Reed Elsevier results for 2011

March 13, 2012 — Fusion DigiNet

 

Reed Elsevier has published its Annual Reports and Financial Statements 2011 for the Reed Elsevier Combined Businesses, Reed Elsevier PLC and Reed Elsevier NV

2011 highlights ƒƒ

  • Underlying revenue up 2% (3% excluding biennial exhibition cycling) ƒƒ
  • Underlying adjusted operating profit up 5%; up 4% at constant currencies ƒƒ
  • Adjusted EPS up 8% to 46.7p for Reed Elsevier PLC; up 6% to €0.83 for Reed Elsevier NV ƒƒ
  • Reported EPS up 19% to 32.4p for Reed Elsevier PLC; up 16% to €0.59 for Reed Elsevier NV ƒƒ
  • Full year dividend up 6% to 21.55p for Reed Elsevier PLC and €0.436 for Reed Elsevier NV ƒƒ
  • Net debt of £3.4bn; 2.3 times adjusted EBITDA (pensions and lease adjusted)

The following documents are avaialable at www.reedelsevier.com:

  • Annual Reports and Financial Statements 2011 for the Reed Elsevier Combined Businesses, Reed Elsevier PLC and Reed Elsevier NV (the “2011 Financial Statements”);
  • Reed Elsevier NV Corporate Governance Statement 2011;
  • Agenda with explanatory notes for the Reed Elsevier NV 2012 Annual General Meeting (the “NV 2012 AGM Agenda”) to be held in Amsterdam on 24 April 2012;
  • Notice for the Reed Elsevier PLC 2012 Annual General Meeting (the “PLC 2012 AGM Notice”) to be held in London on 25 April 2012; and
  • Corporate Responsibility Report 2011.

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Publicis Groupe acquires King Harvests and Luminous

March 8, 2012 — Fusion DigiNet

Publicis Groupe has acquired two specialty marketing agencies in Asia: King Harvests and Luminous.  Both agencies will be integrated into MSLGROUP, the flagship strategic communications network of Publicis Groupe. Founded in 2002, with 360-degree marketing capabilities across Tier-one and Tier-two cities in Mainland China, King Harvests’ staff of more than 100 offer particularly strong expertise in both events and experiential marketing to local and international clients including Bosch, Haier, Sanyo and Siemens.

Established in 2005 and with more than 40 employees, Luminous is an award-winning experiential marketing consultancy with offices in Hong Kong, Singapore and Macau. Luminous produces live marketing events for clients including Cathay Pacific, PricewaterhouseCoopers and Prudential.

Agency heads Laura Lee and Antony Spanbrook – founders of King Harvests and Luminous, respectively – will report to Isabelle Chouvet, the founder of Emotion, MSLGROUP’s high-end and luxury events communication agency in Asia. King Harvests’ and Luminous’ experiential marketing expertise will enrich the scope of Emotion’s service offering.

“We have made our development in fast-growing markets in general, and China in particular, a top priority for the Groupe,” explained Jean-Yves Naouri, Publicis Groupe COO and Chairman, Publicis Groupe China. “The acquisitions of King Harvests and Luminous are important milestones, and further testimony to our commitment to China. We will continue strengthening our capabilities and footprint in China for the benefit of our clients and employees.”

Olivier Fleurot, MSLGROUP CEO, commented “Experiential marketing is today viewed by both agencies and clients as one of the biggest marketing opportunities for the next few years, alongside social/digital. We’re therefore very excited to have King Harvests and Luminous join us to expand our Asian offering in this space.”

“People today want the chance to experience a brand‘s promisesfor themselves,“ Isabelle Chouvet added. “‘Experiential‘ is a huge growth area globally, and by bringing King Harvests and Luminous into the fold we can offer more of what our clients are increasingly asking for in Asia today.” Chouvet will now oversee a network of 280 people in Asia, across Beijing, Hong Kong,Macau, Seoul, Shanghai, Singapore and Tokyo.

King Harvests and Luminous are the latest in a series of acquisitions in Greater China by Publicis Groupe, including Eastwei Relations, Interactive Communications Ltd (ICL), Dreams, Genedigi, Wangfan, Gomye and most recently UBS. It is in line with Publicis Groupe’s strategy to increase its presence in fast growing markets, with China at its core and where Publicis Groupe has set an objective to double its size.

France, Paris & Hong Kong & China, Shanghai

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Seren Photonics raises £1.8M in equity funding

March 8, 2012 — Fusion DigiNet

Fusion IP plc portfolio company Seren Photonics, has raised £1.8M in equity funding to enable Seren to transfer its technology to manufacturing partners around the globe. The first of these exploitation agreements was recently announced with an Indian manufacturer.

Seren’s new processing technique, developed by Professor Tao Wang from the University of Sheffield, has been shown in tests to greatly increase the efficiency at which a high brightness LED converts an applied voltage into light and significantly reduces heat generation under normal running conditions. Successful demonstrations of the patent pending technology have resulted in a significant increase of the light output compared to untreated devices, which means that either much brighter LED lamps can be manufactured or that the power consumption of LED lamps can be reduced.

Seren’s technology is targeted at the large and fast growing white light HB LED markets, such as back lighting for laptops and TVs, signs and displays, as well as domestic, architectural and street lighting.  Dr Godfrey Ainsworth, Seren’s Chairman said, “This market is currently worth an estimated $7bn in 2011 and is set to grow to $20bn by 2014.   HB LEDs are set to replace incandescent lamps as governments around the world bring in legislation banning the manufacture and sale of incandescents and concerns increase about the poor light quality and environmental contamination fears from compact fluorescents.  The rate of adoption will accelerate as the brightness of HB LEDs increases and the cost of manufacture reduces.”

Seren’s funding round raised a total of £1.8M from a number of investors, including I2BF Global Ventures (£1,100,000), Fusion IP plc (£300,000) and IP Group plc (£400,000).  The funding will be used to purchase key capital equipment for HB LED pilot scale development and create a specialist engineering team for the transfer of Seren’s processes to its commercial manufacturing partners.

Post funding Fusion will have a 40.2% undiluted shareholding in Seren.

UK, Sheffield

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Marquard Media sells the rights to Olivia magazine to Bauer Publishing Poland

March 8, 2012 — Fusion DigiNet

FIPP is reporting that Marquard Media has sold the rights to the monthly advisory magazine, Olivia, to Bauer Publishing Poland.

Bauer will take over the complete editorial staff of the magazine and will incorporate the title into its large advisories portfolio.

Tomazs Zieba, president, Marquard Media Poland said: “After the 2010 acquisition and successful re-launch of the fashion magazine Hot, we are excited to continue to strengthen our position and portfolio in the premium lifestyle segment.”

Poland, Warsaw & Switzerland, Zug

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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

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Germany, Berlin

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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

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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

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UTV Media plc to acquire Simply Zesty

March 7, 2012 — Fusion DigiNet

Radio, Television, New Media and Publishing company UTV Media plc is to acquire Simply Zesty Limited. The initial consideration is £1.7 million, which is being satisfied from the Company’s existing banking facilities, with further tranches of deferred consideration totalling a maximum of approximately £5 million, payable depending upon Simply Zesty’s future trading performance. The initial consideration equates to four times the anticipated 2012 EBITDA.

UTV is acquiring the business from Simply Zesty’s shareholders, including the founders of the business, Niall Harbison and Lauren Fisher, and the independent market research company, SPA Future Thinking. Following completion the founders will continue to develop Simply Zesty as part of UTV’s New Media division. Simply Zesty’s clients include blue chip brands such as Sony, Vodafone, Volkswagen Group, News International and ebookers.com.

Simply Zesty was set up in 2009 and employs 22 staff at its Dublin offices and specialises in providing social media marketing services to assist businesses in creating innovative social media campaigns. Simply Zesty is also building its international presence, which now represents more than 15% of revenues and is growing strongly.

John McCann, Group Chief Executive, UTV Media plc said, “The acquisition of Simply Zesty is part of our strategy to create a diversified multi-media business. Simply Zesty is a very successful Irish business with an international presence in the fast-growing social media sector. This acquisition strengthens our existing New Media division and adds further impetus to our multi-media strategy.

UK, Northern Ireland, Belfast & Ireland, Dublin

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M&C Energy Group acquire Coleman Hines

March 7, 2012 — Fusion DigiNet

Just months after global energy consultants M&C Energy Group opened their first US office in Atlanta, Georgia, it has moved quickly to expand its USA footprint and strengthen its market position with the acquisition of energy consultancy service Coleman Hines, headquartered in Phoenix, Arizona.

Coleman Hines, founded in April 2000, provides energy consultancy services to many National Fortune 500 clients at nearly 35,000 sites covering all US states and Canada, particularly in the retail, restaurant, and commercial sectors. They will become part of M&C Energy Group’s growing worldwide organisation which already has 18 offices in 13 countries and clients in 40 countries.

Mark Dickinson, CEO M&C Energy Group, said: “Bringing M&C Energy Group and Coleman Hines together now creates an exciting prospect within the energy consultancy sector in North America. Not only will they increase our reach in North America, but Coleman Hines provides M&C with a number of exciting products and services specifically developed for the local markets, which will strengthen our portfolio of services. While M&C is a well-known industry-leader around the world, the North American market is relatively new to us and bringing Coleman Hines on board will strengthen our foothold and market position there.”

UK-based mid-market growth investor, Lyceum Capital, acquired M&C Energy Group for £22 million in 2010 and, since then, has implemented a rigorous programme of operational enhancement and supported a number of strategic acquisitions.

Dan Adler, Partner at Lyceum and M&C board member, said: “Coleman Hines is a well-established energy advisory firm of scale with an outstanding client retention rate and a highly progressive management team. The company’s services are closely aligned to those of M&C and so it presents the ideal platform for the wider Group to develop its North American proposition and gain market share in the country’s growing energy consultancy sector, which remains highly fragmented. The US is a key market for M&C’s services and, with a number of significant contracts already in the pipeline for the enlarged business, there is a compelling case for the firm’s North American expansion.”

The addition of Coleman Hines the latest in a line of acquisitions by M&C. In 2010 they acquired Utility Masters Ltd in the UK (a deal brokered by Fusion Corporate Partners), ETT GmbH in Germany, Creative Energy Solutions in Australia, and Encore International Ltd in the UK and in Hungary (also brokered by Fusion Corporate Partners).

Recently M&C added a Brisbane office to their Australian operation to complement their existing Melbourne office. A New Zealand office is expected to open in the Spring of 2012.

UK, Dunfermline & USA, Phoenix, AZ

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