- Apr 2020
The world’s largest exhibitions organizer, London-based Informa plc, outlined on Thursday morning a series of emergency actions it’s taking to alleviate the impact of the COVID-19 pandemic on its events business, which drives nearly two-thirds of the company’s overall revenues. Noting that the effects have been “significantly deeper, more volatile and wide-reaching,” than was initially anticipated, the company says it’s temporarily suspending dividends, cutting executive pay and issuing new shares worth about 20% of its total existing capital in an effort to strengthen its balance sheet and reduce its approximately £2.4 billion ($2.9 billion) in debt to £1.4 billion ($1.7 billion). Further, Informa says it’s engaged in “constructive discussions” with its U.S.-based debt holders over a covenant waiver agreement.
Informa Group, que posee editoriales como Taylor & Francis, de Informa Intelligent Division toma medidas en su sector de conferencias y eventos. Provee dos tercios de sus ingresos totales, 2.9 billion dólares. Emite acciones y para el mercado norteamericano acuerdos de deuda. Mientras la parte editorial que aporta un 35% de los ingresos se mantiene sin cambios y con pronósticos estables y sólidos. Stephen Carter CEO