2022 Full-Year Results Presentation
informa
GAP2 Targeted Expansion: Addition of Tarsus for $940m
Strengthens leadership in B2B market with market-leading
brands, exceptional talent and deep customer relationships
Strong commercial, operational and cultural fit
Reach and depth in Asia, the Middle East & Americas
Potential to apply First Party Data strategy to Tarsus
estimated KEMA of 1.8m
Tarsus initial enterprise value of $940m, comprising cash
and $210m of Informa equity, with two-year lock-up
Additional earn-up of $45m if and when Informa share
price reaches 850p during two-year lock-up
Class 2 transaction, completion expected by 1 July 2023
Operating Synergies:
c.$20m+ annualised:
Real estate, procurement, technology, event contracts and other
Acquisition multiple:
2024/2025 Average: Sub-9x EBITDA
2023/2024 Average: c.9.9x EBITDA
Earnings Accretion (inc. operating synergies):
2025: High single digit EPS accretion
2024/2025 Average: Mid-single digit EPS accretion
Return on Invested Capital (inc. fees and integration costs):
2025: Double-digit post-tax ROIC
2024/2025 Average: High single digit post-tax ROIC
2022 Full-Year Results Presentation
Information Classification: General
B2B Growth Acceleration through the addition of Hercules
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