Informa: AGM trading update underpins FY earnings guidance - all eyes turn to the update on IMEA at H126 results

Research evidence excerpt

Informa: AGM trading update underpins FY earnings guidance - all eyes turn to the update on IMEA at H126 results

C A Z E N O V E Europe Equity Research

18 June 2026

Informa Overweight

INF.L, INF LN

AGM trading update underpins FY earnings guidance - Price (17 Jun 26):840p

all eyes turn to the update on IMEA at H126 results Price Target (Dec-27):1,300p

Our Take: Informa’s AGM Trading Update points to underlying revenue growth European Internet & Media

ACof 6.4% in the five months to 31 May (ex-non-recurring data access contracts), with Lara Simpson

management signaling momentum across both B2B Live Events (+7.6%) and (44-20) 7134-3637

Academic Services (+5.5%), underpinning a reconfirmation of the full-year lara.simpson@jpmorgan.com

earnings guidance. Looking ahead, while uncertainty will likely linger as investors J.P. Morgan Securities plc

await management’s update on IMEA – Informa will update the market further on Marcus Diebel

30 July (five weeks ahead of the first major 2026 re-scheduled Brands) – the (44-20) 7742-4447

marcus.diebel@jpmorgan.com

company has provided first comments on 2027 which should reassure, guiding for J.P. Morgan Securities plc

stronger growth in 2027, with a full brand schedule and forward revenues of $0.6bn

Daniel Kerven

+ booked or confirmed to date for H127, with annual and biennial B2B brands (44-20) 7134-3057

pacing to deliver strong growth. We remain constructive at these levels and see daniel.kerven@jpmorgan.com

valuation support with consistently strong cash generation, balance sheet strength J.P. Morgan Securities plc

and accelerated share buybacks with optionality for higher returns through the year Thyagarajan J

(£250m share buyback remains ongoing). (91-22) 6157-5005

thyagarajan.j@jpmchase.com