VNU Revenues Up in Both Second Quarter and First Half
Staff -- Tradeshow Week, 10/16/2006
VNU Group and its VNU Business Media USA division both posted revenue increases in the second quarter and first half of the year.
The earnings results were the first from the Haarlem, Netherlands- and New York-based parent firm since the company went private after being acquired by Valcon Acquisition in May. Additionally, in August, the firm appointed former General Electric Vice Chairman David L. Calhoun chairman and CEO and Robert Krakoff VNU Business Media USA president and CEO.
VNU in the second quarter delivered operating revenue of €943 million ($1.2 billion), an increase of 6 percent over the 2005 quarter, and operating income of €114 million ($145 million), up 11 percent when compared with the previous period. For the first six months of the year, VNU's operating revenue and operating income were €1.8 billion ($2.3 billion) and €185 million ($235 million), up 5 percent and 13 percent, respectively, when compared with the 2005 periods. (The 2006 figures do not include a €71 million, or $90 million, deferred revenue adjustment related to the acquisition. Also, first-half 2005 results include an €11 million, or $14 million, book gain.)
VNU Business Media USA, parent firm of VNU Expositions, in the second quarter posted €109 million ($139 million) in revenue, an increase of about 4 percent over the €105 million ($133 million) reported during the same period in 2005. Its first-half revenue was €217 million ($276 million), up about 8 percent from €201 million ($256 million) in the 2005 first half.
According to VNU Expositions President Greg Farrar, the first-half results reflect a 7-percent increase in revenue for his division.
"A combination of two launches (the VNU Fine Jewelry CEO Summit and ASR Holiday), staging of two biennial shows (Wood Technology Clinic & Show and Glass South America) and a strong performance from K/BIS, the ASD/AMD shows, Couture Jewelry Collection & Conference and Signature Salons contributed to the overall performance," Farrar said.
VNU, active in more than 100 countries, employs nearly 41,000 people and had total revenue of €3.5 billion ($4.5 billion) in 2005.
