Emerald (EEX) Bank of America Securities 2024 Leveraged Finance Conference summary

Business overview and strategy

• Operates as the largest U.S.-based events organizer, hosting over 50 large trade shows and conferences, with a focus on lead generation for exhibitors and year-round engagement through aligned B2B media assets.

• Serves seven diversified end markets, with ongoing efforts to further diversify through new event launches and acquisitions.

• Value proposition centers on delivering high ROI for exhibitors and inspiration/discovery for attendees, enhanced by data-driven matchmaking and technology investments.

• Media business supports year-round lead generation and event marketing, providing a competitive advantage.

Growth initiatives and portfolio optimization

• Organic growth targeted at mid- to high-single digits, driven by customer experience improvements, international sales expansion, and centralized platform operations.

• Inorganic growth pursued through targeted M&A in high-growth sectors, supported by a proprietary database and an active pipeline; launches are used where acquisition is not feasible.

• Ongoing portfolio review leads to divestment of unprofitable events and continuous optimization for health and growth.

Financial outlook and capital allocation

• Margin goal of 35% over the next three years, leveraging platform efficiencies and recent investments.

• Capital allocation prioritizes M&A, share buybacks, moderate dividends, and maintaining net debt to EBITDA below three times.

• Recent debt reduction and focus on positioning for a successful refinancing of the 2026 term loan.