This article first appeared on GuruFocus .
Release Date: July 30, 2026
For the complete transcript of the earnings call, please refer to the full earnings call transcript .
Positive Points
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Underlying revenue growth of 6.8% in H1 2026, demonstrating strong business resilience.
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B2B live events business grew 8% in the half year, with strong performance across most geographies.
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Academic markets (Taylor & Francis) showing consistent improvement, targeting 5%+ growth by 2027.
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Strong full-year visibility with 85% of 2026 revenue already visible and $800 million of 2027 revenue booked.
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Increased share buyback and interim dividend, reflecting confidence in shareholder returns.
Negative Points
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TechTarget venture underperforming with -1% growth, missing target by $30-50 million in revenue.
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Middle East volatility causing revenue dislocation, particularly from international exhibitors in UAE and KSA.
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H1 margin down 2 percentage points year-on-year due to maintaining cost base in Middle East without corresponding revenue.
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China growth remains low, in line with 2025 levels and below historical performance.
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AI displacement revenues and US enterprise tech market challenges are impacting B2B digital services growth.
Q & A Highlights
Here are the key highlights from the Informa PLC ( IFJPY ) Half Year 2026 Earnings Call, presented as summarized Q&A pairs.
Q: Can you provide an update on the forward bookings for 2027 events, particularly in the Middle East, and how they are tracking versus historical levels? A: (CEO) Forward pacing for 2027 is pretty good. Our forward booking number is slightly ahead of where we were this time last year. We are not seeing any significant variance that would cause concern. The real question for the first half of 2027 will pivot around the situation in the Middle East, but right now, we are not seeing anything that would change our view.
Q: Regarding the Middle East shows scheduled for H2 2026, how do you expect their revenues to compare to last year? A: (CEO) It varies significantly by geography and brand. For example, an event like LiveX in Abu Dhabi will have a completely different profile than Middle East Energy, which has a larger international component. Saudi Arabia is expected to be robust year-on-year. Our overall approach is to outperform in other markets, bring new domestic-focused products to market, and roll over revenue into 2027 where necessary. Based on what we know today, we can navigate the situation.
Q: What are the assumptions for the IMEA region in H2 to achieve the 7% growth guide for the B2B events portfolio? A: (CEO) We are not providing brand-by-brand guidance. The dislocation is primarily seen in European and American exhibitors facing logistical issues. Our cancellation levels are between de minimis and zero; we are having conversations about rollovers and rebooks for 2027. We are compensating by focusing on domestic and intra-regional exhibitors and launching new products like LiveX, which is performing well. This is why we are confident in our guidance.
Q: Can you comment on the level of pricing growth you are passing through for 2027 events? Is around 3% to 4% on average the right ballpark? A: (CEO) Yes, that is probably the right ballpark, though it might be a bit less depending on geography. China is not a price-led market, so the global average might be closer to 2% to 3% or 3% to 4%. It varies depending on the region.
Q: Are you seeing any delays to supply coming online, particularly in the Middle East? A: (CEO) No. In the UAE, DEC has brought on 80% of additional supply, with more coming next year. We believe we can fill that supply. This is also true in India, Thailand, parts of China, and North America. The fact that venues are being financed and built is an underlying indicator of belief in incremental demand, and our confidence there has not changed.
Q: Can you provide more color on further licensing deals for data in Taylor & Francis, particularly regarding pricing? A: (CEO) We are in discussions with two parties, but we haven't seen any material change on pricing. Different parties want different things in different formats. We haven't signed any deals yet, not for any fundamental reason, but because everyone needs to be happy with terms and timing. The importance of trusted, validated content as an input for AI is increasing, not decreasing.
Q: Can you give us a guide on the margin for the full year, given the moving parts in H2? A: (CFO) The margin was down two percentage points at the half-year because we operated no events in areas like Dubai and Saudi Arabia in Q2 but left the indirect cost base intact. By the time we get to the full year results, having operated the full portfolio, we expect the margin to be up slightly year-on-year.
Q: Regarding the TechTarget business, you mentioned it is not yet performing as hoped. Do you still believe the fundamentals are there? A: (CEO) Yes, we do. The negative growth rates are leveling out. Our simple target for this year is to get it into growth. The revenue shortfall is about $30 to $50 million, which is not a mountain we can't climb. We need to get to a point where the path to growth is visible enough to regain shareholder confidence in our judgment in that market.
Q: On Taylor & Francis, you previously mentioned journal submissions were up 20% year-on-year. What is the gap between that volume and revenue conversion? A: (CEO) It is a management process and technology issue, but critically, quality must be maintained if not improved. The volume in does not automatically translate to value out. We are very alive to this and believe we can use machine intelligence and significant process improvement to increase that flow without decreasing quality. It is a very interesting area for us.
Q: Are you seeing any specific areas of weakness relative to peers, or any disruption in general trading outside of the Middle East? A: (CEO) No. There have been some specific locations with disruption, but that happens in the events business. We have not seen anything structural outside of the much-discussed situation in the Middle East.
For the complete transcript of the earnings call, please refer to the full earnings call transcript .
