Expomedia Group Has Record 2007
-- Tradeshow Week, 3/24/2008
The Expomedia Group reported what CEO Mark Shashoua called a record year in 2007 with an increase in revenue of 53 percent compared with the year before. The exhibition, conference and venue management firm posted revenue of €35 million ($54.2 million), compared with €23.1 million ($35.8 million) in 2006. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) was €4.6 million ($7.1 million), compared to €100,000 ($155,000) in 2006.
Shashoua said the results reflected a realigned strategy and a focus on the company's five core geographic markets: Russia, India, Poland, the United Kingdom and Germany. He also said the company's growth could be expected to continue, especially since most of its activities are in markets insulated from the economic slowdown underway in the United States.
“Normally, in times of slowdowns there is a rush for international companies to look further afield to make profits,” he said. “The emerging markets are one of the key markets that benefit from any downturns in the West. This happened in the early '90s when companies looked to Russia and Asia for their growth platforms.”
According to Expomedia, exhibitions and conferences accounted for 75 percent of revenue last year. Shashoua attributed the strong revenue growth to several specific areas:
- continuing progress in India's exhibition industry
- acquisitions like Homebuyer Events, World Food Market and Russian telecom conference organizer Exposystems
- an expanded partnership with Gruener + Jahr (Bertelsmann)
