Informa (INF) H1 2026 earnings summary

Executive summary

• Achieved 6.8% underlying revenue growth and 6.9% underlying adjusted operating profit growth (excluding non-recurring data contracts), driven by strong B2B Live Events and Academic Markets performance.

• Reported revenues reached £2,064m, up from £2,036m in H1 2025; adjusted operating profit was £548.3m, down from £579m due to event rescheduling and biennial phasing in conflict-impacted IMEA markets.

• Statutory operating profit improved to £323.3m from a £137.0m loss in H1 2025; statutory diluted EPS was 10.4p versus a loss of 5.9p.

• Strategic focus on audience data, digital services, and geographic expansion, especially in the Americas and Asia.

• Interim dividend increased by 6.9% to 7.48p per share; share buyback commitment raised to £350m for 2026.

Financial highlights

• H1 2026 revenue: £2,063.8m (+1.4% reported, +5.1% underlying); adjusted operating profit: £548.3m (-5.3% reported, +2.4% underlying).

• Adjusted diluted EPS: 26.6p (H1 2025: 29.8p); effective tax rate stable at 20.5%.

• Group adjusted operating margin: 26.6% (H1 2025: 28.4%), reflecting event phasing and rescheduling.

• Net debt at 30 June 2026 was £3,027.5m, a decrease of £38.7m from year-end 2025; leverage ratio at 2.4x net debt/adjusted EBITDA.

• Operating cash flow conversion remained strong at 82.7%; free cash flow was £283.9m, down 20.5% year-over-year.

Outlook and guidance

• Full-year 2026 guidance reaffirmed: targeting 6%+ underlying revenue growth and double-digit underlying growth in adjusted diluted EPS.

• B2B Live Events targeting 7%+ full-year underlying revenue growth; Academic Markets targeting 4% (excluding non-recurring data contracts); B2B Digital Services targeting full-year revenue growth.

• Revenue visibility remains high, with $4.5bn (about 80% of 2026 target) already secured or visible; strong forward visibility into 2027.