DB Media & Online #what's appening: INF/AGM, PRX/eMAG, PUB/Account win, HEM/May trading, PSON, UMG

研报英文原文证据摘录

DB Media & Online #what's appening: INF/AGM, PRX/eMAG, PUB/Account win, HEM/May trading, PSON, UMG

Deutsche Bank

Research

Europe Industry Date

12 June 2026

Media and Online DB Media & Online

Periodical

#what's appening

INF/AGM, PRX/eMAG, PUB/Account

win, HEM/May trading, PSON, UMG

Silvia Cuneo

Newsflow, overnight research, valuation comps - if you'd like to discuss any of the

Research Analyst

following in more detail or require models, please get in touch with Silvia, Nizla, +44-20-754-73770

Gareth or Steve. Our contact details are listed in the right-hand margin.

Nizla Naizer

Informa PLC (Steve Liechti): Thoughts ahead of the AGM update +44-20-754-12403

We preview thoughts ahead of the scheduled AGM update on 18 June with INF

Gareth Davies

management also expected to attend the Cannes Lions event in that week. If

trading commentary aligns with last year, this would effectively be a five month

+44-20-754-11560

trading update. While we expect INF to maintain its operating plan to run events

from the end of Aug, we would like more clarity/views on potential headwinds if the Steve Liechti

conflict drags. BUY - INF is a well-positioned, scaled long term growth business that Research Analyst

+44-20-7541-1549

can react rapidly to near term issues. While we accept Middle East (ME) uncertainty

dominates sentiment for now, we remain positive on mid term growth in the region. Annabel Hames

We believe that event trading would return rapidly once some conflict resolution is Research Analyst

found. PT 1140p (unchanged). +44-20-754-11574

Tarun Mittal

Good long term Event and Academic growth prospects. This is key for the Research Associate

investment case in our view, with Events at 76% of FY26E revenue. We remain