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Final Results Presentation Full Year Ended 30 September 2017

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Final Results Presentation Full Year Ended 30 September 2017 Final Results Presentation Full Year ended 30 September 2017 Thursday 30 November 2017 Agenda 1. Introduction Paul Zwillenberg, CEO 2. Financial Performance Tim Collier, CFO 3. Strategy Update Paul Zwillenberg, CEO 4. Q&A © 2017 DMGT 2 1 Introduction Paul Zwillenberg, CEO 3 Completion of the strategic review – good progress 1 2 3 Improving operational Increasing portfolio Enhancing financial execution focus flexibility © 2017 DMGT 4 Vision statement Confidential, for internal use only © 2017 DMGT 5 Full Year 2017 – Resilient underlying performance Group underlying revenues +1%; underlying operating profit –2% Consumer: encouraging dmg media performance B2B: mixed performance; some challenging market conditions and impairments Continued real dividend growth © 2017 DMGT 6 Real dividend growth continues 20 year CAGR: 7% 24 22.7p 22 20 18 16 14 12 10 8.5p 8 5.8p 6 4 2 0 1997 2017 Dividend Inflation FY 2017 Full Year dividend of 22.7 pence, up +3% © 2017 DMGT 7 2 Financial performance Tim Collier, CFO 8 Statutory results Pre adjustments £ million FY 2016 FY 2017 Change Revenue 1,514 1,564 +3% Operating profit 91 (129) (242%) Profit before tax 202 (112) (156%) Profit for the year 214 342 +60% Earnings per share 57.8 p 97.8 p +69% Revenue, operating profit and PBT exclude Euromoney (discontinued operations) Operating profit adversely affected by impairments of £273m Profit for the year and EPS include gain on disposals: Euromoney transaction © 2017 DMGT 9 Statutory profit to adjusted profit after tax 450 350 250 26 342 36 150 50 50 196 530 £ Millions 50 42 (50) 231 (150) (250) Statutory profit for Gains on disposal Goodwill and Impairment of plant Acquired intangible Exceptional Other adjusting Tax Adjusted profit after the year intangible amortisation operating costs items tax impairment © 2017 DMGT 10 Diverse revenue streams Revenues by type and underlying growth rates Transactions & Other (4)% 21% 31% Subscriptions +5% Print Advertising (5)% 12% 9% 19% Digital Advertising +16% 8% Circulation +0% Events, Conferences & Training +2% © 2017 DMGT 11 Percentages in the slices represent share of revenues in FY 2017. The +X% and (X)% percentages represent underlying growth rates during the year. Financial Summary Adjusted numbers £ million FY 2016 FY 2017 Change Underlying Revenue 1,917 1,660 (13%) +1% Operating profit 277 198 (28%) (2%) Profit before tax 260 226 (13%) Profit after tax 198 196 (1%) Earnings per share 56.0 p 55.6 p (1%) Dividend per share 22.0 p 22.7 p +3% Revenue dynamics: underlying growth in B2B (+2%) and dmg media (+1%) Operating profit down 2% underlying: dmg media growth offset by B2B decline Operating margin of 12%: down from 14%, reflecting Euromoney transaction Euromoney transaction particularly impacted revenues and operating profit EPS down 1%, Dividend up 3% © 2017 DMGT 12 Reduced stake in Euromoney Two stage process: share placing and Euromoney share buy-back in December 2016 Reduced stake from c.67% to c.49% Total consideration of £317m, exceptional profit on disposal of £509m - Profit includes revaluation of the remaining c.49% stake De-coupling of balance sheets: increased financial flexibility for Euromoney Subsidiary for three months to December 2016: - Consolidate 100% of revenue and 100% of operating profit - Minority interest equivalent to c.33% of post tax profits - Consolidate 100% of operating cash flow Associate for nine months to September 2017: - Include c.49% share of operating profit in JV’s and Associates - Include c.49% of finance charge and tax - Cash flow from dividends received © 2017 DMGT 13 Euromoney impact Adjusted numbers: FY16 Pro Forma, revised in respect of Euromoney £ million FY 2016 FY 2017 Change Underlying Revenue 1,604 1,660 +3% +1% Operating profit 195 198 +2% (2%) Profit before tax 217 226 +4% Operating margin 12% 12% Earnings per share 52.1 p 55.6 p +7% Dividend per share 22.0 p 22.7 p +3% Euromoney c.67% subsidiary during Q1 and c.49% associate during Q2-Q4 Underlying performance unchanged since excludes Euromoney completely Transaction contributed to lower net debt:EBITDA ratio of 1.4x as at 30 September 2017 (1.8x Sep’16) Note: FY 2016 revenues, operating profit, share of profits from associates, finance charge, tax charge, minority interests and earnings per share have been restated to treat Euromoney as a c.67% subsidiary for the three months to December 2015 but as a c.49% associate for the nine months to September 2016, consistent with the ownership profile during FY 2017. © 2017 DMGT 14 B2B 15 Insurance Risk: RMS Performance in line with expectations £ million FY 2016 FY 2017 Change Underlying Total Revenue 205 233 +14% +2% Operating Profit 36 33 (9%) (25%) Operating Margin 18% 14% Continued underlying revenue growth: benefit from model enhancements offsetting client consolidation RMS(one):Risk Modeler launched Apr’17; continued client adoption, >12 clients using applications Risk modelling: unprecedented level of modelling solutions; updates and new catastrophe models; cyber v.2 RMS(one) costs: amortisation and no capitalisation in FY 2017 - RMS’s ‘EBITDA’* margin increased from 17% FY 2016 to 24% FY 2017 Priorities in the year ahead: - Greater testing and client adoption of RMS(one) to drive FY 2019 revenue growth - Extensive model pipeline Note: * ‘EBITDA’ has been adjusted to exclude benefit of capitalisation of RMS(one) development costs from FY 2016, as well as excluding depreciation and amortisation costs. © 2017 DMGT 16 dmg information Mixed revenue performance – specific challenges for some businesses £ million FY 2016 FY 2017 Change Underlying Property - European 183 183 +0% (3%) Property - US 123 145 +18% +5% Property Information 307 328 +7% +0% Education (EdTech) 115 114 +0% +9% Energy Information 76 88 +16% +1% dmg information 498 531 +7% +2% European Property: Landmark & SearchFlow - challenging market volumes, UK mortgage approvals down US Property: Trepp, EDR, Xceligent, SiteCompli & BuildFax - continued revenue growth driven by early-stage businesses EdTech: Hobsons - good growth from Naviance, Intersect & Starfish; disposal of Admissions (Sep’17) & Solutions (Oct’17) Energy Information: Genscape - growth for Oil, Power & Gas; offset by challenging market conditions for solar business © 2017 DMGT 17 dmg information Impairments: non-cash items Energy Information: Genscape - Particularly challenging solar market - Sustained low energy prices and low price volatility impacting other parts of the business - Long-term prospects remain strong; weak short-term cash generation - £140m impairment charge; £141m remains on the balance sheet - New management team in place focusing on prioritising growth opportunities US Property Information: Xceligent - Lower than expected revenue growth in new markets and longer road to profitability - £42m full impairment - New management team in place; reviewing strategic options US Property Information: SiteCompli - Expansion into national retail market more challenging than expected - £24m full impairment - Management team focusing on growth opportunities © 2017 DMGT 18 dmg information £ million FY 2016 FY 2017 Change Underlying Revenue 498 531 +7% +2% Operating Profit 77 69 (10%) (13%) Operating Margin 15% 13% Continued underlying revenue growth: varied performance across portfolio Margin reduction due to Xceligent investment and challenging market conditions for Genscape Increased focus: Hobsons Admissions & Solutions; EDR disposal process Priorities in the year ahead: - Mixed outlook for Property Information - Another year of transition and growth for EdTech business - Energy Information: challenging market conditions to continue; focus on operational improvements © 2017 DMGT 19 dmg events Continued underlying revenue growth £ million FY 2016 FY 2017 Change Underlying Revenue 105 117 +11% +3% Operating Profit 29 31 +6% (7%) Operating Margin 28% 26% Continued underlying revenue growth despite challenging Canadian energy market; Gastech particularly strong (Tokyo Apr’17 vs. Singapore Oct’15) Margin reduction: increased investment to support launches and future growth of existing events Priorities in the year ahead: - Continued strength of three major events (Big 5 Dubai, ADIPEC and Gastech) - Smaller Gastech event in Barcelona in Sep’18 (vs. Tokyo Apr’17) - Continue to launch new events - Some market challenges in energy and Middle East © 2017 DMGT 20 Euromoney Only a subsidiary during Q1 FY 2017 £ million FY 2016 FY 2017 Change Revenue 403 95 +76% Operating Profit 100 19 (81%) Operating Margin 25% 20% FY 2017 only includes 3 months to December 2016 £ million Q1 FY 2016 Q1 FY 2017 Change Revenue 90 95 +6% Operating Profit 18 19 +6% Operating Margin 20% 20% Note: The bottom table shows the Pro Forma FY 2016 figures. © 2017 DMGT 21 Consumer Media 22 dmg media Encouraging performance £ million FY 2016 FY 2017 Change Underlying Revenue 706 683 (3%) +1% Operating Profit 77 77 +0% +10% Operating Margin 11% 11% Resilient underlying revenues: digital growth, stable circulation revenues, declining print advertising Underlying operating profit growth: MailOnline’s transition to profitability during the final quarter and continued management of newspaper cost base; stable absolute profits despite absence of 53rd week Outlook Full Year 2018: - Continuation of existing revenue dynamics: digital advertising growth, print advertising decline and circulation volume declines - Mid-single digit underlying revenue decline - Operating margin of around 10%; MailOnline profitable © 2017 DMGT 23 dmg media Revenue £ million FY 2016 FY 2017
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