INFORMA (INF) SHARES: 2025 PERFORMANCE IN UK, KEY DRIVERS, MILESTONES AND RISKS —'26 OUTLOOK

Informa (INF) Shares: Performance Highlights in 2025

Informa plc (LSE: INF), a leading UK-based publishing, business intelligence, and events company, delivered a solid performance in 2025, supported by a post-pandemic rebound in physical events, digital transformation initiatives, and strategic portfolio refinement. The group has continued building momentum following its recovery phase through 2023 and 2024, with 2025 proving to be pivotal in consolidating its market position.

INF shares delivered a modestly positive return for investors in 2025, with share price appreciation of approximately 8% year-to-date by December. This gain was underpinned by strong financial results, increased operating leverage, and return of in-person business-to-business (B2B) events across developed markets.

Revenue and Earnings Recap

• Full-year revenues are expected to exceed £3.2 billion, marking a year-on-year increase of over 9%, largely driven by growth in the Live & On-Demand Events and Academic Markets divisions.
• Adjusted operating profit is projected to surpass £840 million, reflecting operational efficiencies and cost containment across the group post-pandemic.
• EPS growth remains healthy, rising over 10% in 2025 largely due to lower financing costs and share buybacks.

Strategic Highlights

Several key strategic initiatives shaped Informa’s performance during the year:

• Portfolio Optimisation: The divestment of non-core assets continued in 2025, with Informa completing the sale of its Pharma Intelligence unit and reallocating capital towards higher-growth segments.
• Digital Acceleration: Further investment in digital platforms such as IIRIS and content-on-demand services helped diversify revenue streams and enhance customer stickiness.
• Physical Events Momentum: Flagship events such as Arab Health, Mobile World Congress, and Black Hat USA achieved pre-pandemic attendance levels, reflecting strong sector recovery.

Shareholder Returns

Informa reinstated its dividend policy with a progressive payout structure. The group returned over £400 million to shareholders through dividends and buybacks during 2025, signaling confidence in its cash-generative model and balance sheet strength.

Market Reaction

Analyst sentiment remained broadly positive, with major brokers including Barclays, JP Morgan and UBS maintaining "Hold" to "Buy" ratings throughout the year. Valuation multiples have stabilised, with investors encouraged by management's disciplined repositioning strategy and prudent capital allocation.

In summary, 2025 marked a return to sustainable growth for Informa, with fundamentals improving and investor confidence gradually strengthening.

Key Drivers Behind Informa's 2025 Performance

Informa’s share performance in 2025 can be attributed to several company-specific and macroeconomic factors which supported revenue momentum, profitability enhancements, and investor confidence.

1. Rebound in Physical Events

A core pillar of Informa’s revenue model — physical B2B events — witnessed a strong comeback in 2025. Attendance and exhibitor participation returned to pre-COVID norms, particularly across flagship exhibitions in life sciences, technology, healthcare, and maritime sectors. Major events such as:

• Arab Health 2025 in Dubai
• London Tech Week
• International Dental Show 2025

reported record footfalls and increased vendor participation. This drove higher delegate fees, exhibitor bookings, and ancillary service revenues.

2. Operational Efficiency

Informa implemented broad-based cost rationalisation measures starting in 2023, which carried through 2025. Key initiatives included streamlining of operations, automation of marketing processes, and reorganisation of regional delivery hubs. These efforts resulted in:

• Improved EBITDA margins by over 150 basis points versus 2024
• Reduced overheads without impacting service quality
• Enhanced integration between in-person and digital event delivery

3. Strengthening Digital and On-Demand Offerings

Growing demand for hybrid event formats and on-demand academic content helped Informa expand recurring revenue lines. Platforms such as Taylor & Francis Online and newly enhanced IIRIS analytics suite contributed meaningful margins while expanding customer engagement.

Digital transformation also enabled cross-selling across customer databases, enhanced audience targeting, and improved sales conversion metrics — all of which supported revenue growth and reduced dependence on cyclical tradeshow performance.

4. Portfolio Restructuring and Capital Discipline

The successful divestiture of assets deemed non-core helped Informa reallocate capital towards its strengths. Notable transactions included the sale of its Pharma Intelligence division and heavier investment in higher ROI digital assets. This created:

• Stronger company focus and higher capital efficiency
• More scalable and resilient product offerings in core markets
• Free cash flow improvements that helped fund shareholder returns and deleveraging

5. Supportive Macroeconomic Environment

The UK's relatively stable economic recovery through 2025 supported business travel, corporate marketing budgets, and academic research spending — each of which directly feeds into Informa’s revenue base.

6. Positive Investor Sentiment and Governance

Informa’s adherence to transparent governance, ESG reporting, and diversity of its board composition reinforced its appeal among UK institutional investors. Rating agencies maintained stable outlooks, and debt coverage ratios improved without compromising financial agility.

These cumulative factors created a favourable basis for Informa’s outperformance compared to wider FTSE 100 peers involved in adjacent segments like publishing and data intelligence.

2026 Outlook: Risks and Growth Catalysts for Informa

Looking ahead to 2026, Informa faces a combination of promising growth opportunities and potential headwinds. Investors, analysts, and stakeholders should monitor several strategic, market, and operational levers that could significantly influence the company’s financial trajectory and share performance over the coming 12 months.

1. Expansion of Digital and AI Offerings

One key strategic focus in 2026 will be the continued integration of AI and machine learning technologies into Informa’s knowledge services and event registrations. The IIRIS platform is set for a major upgrade incorporating predictive analytics that could unlock significant monetisation opportunities through:

• Real-time attendee profiling
• Precision marketing for exhibitors
• Smarter matchmaking at physical events

A successful deployment may widen profit margins and create differentiated value, setting Informa apart from traditional event management companies and positioning it as a data-first content provider.

2. Integration of Acquisitions and New Market Entry

Informa has hinted at potential bolt-on acquisitions in the academic publishing and specialist content verticals in North America and Asia-Pacific. Execution risk remains, particularly as competition for digital content assets intensifies. The ability to integrate new properties while maintaining discipline on return thresholds will be key.

3. Currency Volatility and Global Economic Policy

Given Informa’s global revenue base (particularly USD and EUR exposure), currency fluctuations represent a material sensitivity for reported earnings. Any tightening in monetary policy or resurgence of geopolitical tensions (e.g., ongoing trade hurdles with China or the outcome of the US presidential election) could weigh on performance.

4. Sustainability and ESG Mandates

ESG reporting and carbon offsetting obligations are likely to expand in 2026. Informa’s ability to meet stringent stakeholder expectations, particularly for its events and publishing operations, will be under scrutiny. Its recently launched Better Stands initiative — focused on sustainability at exhibitions — could serve as a major differentiator if rolled out effectively across markets.

5. Labour Market and Staff Retention

Maintaining and attracting talent in specialist editorial, digital development, and data science roles will be critical to executing its transformation agenda. High turnover or wage inflation in key locations could put pressures on margins unless offset by automation gains.

6. Dividend Trajectory and Share Buyback Programme

With healthy free cash flow and a conservative net debt position, investors will be tracking the sustainability of capital returns. Any potential announcements to step up the dividend or extend the buyback pace in 2026 could act as strong signals to the market.

Key Milestones for H1 and H2 2026

• Q1 trading update (April 2026): Early indicators of event attendance trends
• H1 results (August 2026): Clarity on new product launches, M&A execution and margin trajectory
• Investor day (Q4 2026): Strategic roadmap and 2027 expectations

Conclusion

2026 offers a cautiously optimistic outlook for Informa, provided macroeconomic stability holds and its digital transition progresses as planned. Shareholders should remain attuned to execution consistency on scaled initiatives, margin preservation, and evolving sectoral competition. The company’s pivot from a cyclical event operator to a hybrid content and data powerhouse remains the long-term narrative to watch.