Haymarket Media Group, the leading international specialist media, technology and information company, has filed annual accounts showing a substantial increase in operating profit to GBP £16.0m (2016: £4.3m), boosted by the divestment of non-core motorsport and agricultural brands. Meanwhile net debt has been reduced to £1.0m (2016: £17.3m) in the 12 months to 30 June.
EBITDAE* stood at £2.6m (2016: £13.7m). This reflects an increased level of investment in the company’s technology infrastructure - specifically in the development of an ecommerce platform in the company’s automotive division. It also reflects a period of uncertainty in 2016 ahead of the outcomes of both the EU referendum and the US Presidential election, which impacted on underlying trading performance in some sectors.
Haymarket operates in a number of international territories including the UK, US, Asia, India and Germany, focusing on core content sectors across B2B and consumer markets, reaching highly affluent and highly engaged audiences. Motoring, marketing communications and medical are among its principal market sectors.
Kevin Costello, CEO of Haymarket Media Group, says: “Our mission is to be the best specialist media company in our chosen markets, whilst ensuring we are transitioning the business for long term sustainable growth. This set of results underlines real momentum in deploying our strategy: creating a balanced portfolio of diversified revenues in our chosen markets.
“Print remains an important platform for our loyal specialist audiences, but it is pleasing to note that almost two thirds of total revenues now come from digital, data and live activity. Our content and technology-led approach means we are investing in innovative new revenue opportunities around paid content and events, as well as new ecommerce platforms - particularly in our automotive division.”
In March 2017, Haymarket Group announced a major £50m investment in developing the digital and ecommerce potential of its powerhouse automotive brands - What Car?, Autocar and Pistonheads - in a UK retail marketplace worth £85bn.
The leadership team has also focused on deleveraging the company’s balance sheet significantly - as a result of proceeds and profits from brand divestment - delivering a healthy net debt of £1m in the period.
Lord Heseltine, chairman of Haymarket, says: “Haymarket is a company with 60 years’ heritage. It is rightly renowned internationally for its powerful brands, serving vibrant market sectors containing millions of high value consumers and business professionals. These results reflect a strategy which positions us well for the future: investing in technology to build diversified revenue streams around a raft of new opportunities.”
* Earnings before Interest, Tax, Depreciation, Amortisation and Exceptionals
Haymarket Media Group is a member of FIPP.
More like this
The Economist announced the relaunch of its bi-monthly lifestyle publication 1843, named for the year The Economist was founded. 1843 features long-form narrative journalism, irreverent columnists and some of the world’s best photography and illustration.18th Mar 2019 Industry News
Bauer Media’s movie magazine Empire has partnered with Picturehouse Cinemas to provide a specially curated series of screenings in joint celebration of both brands 30th anniversaries.18th Mar 2019 Industry News
Meredith Corporation has announced that Catherine Levene has been promoted to president and chief digital officer for Meredith's National Media Group, effective April 1, 2019. Levene will succeed Stan Pavlovksy, who is leaving Meredith for another career opportunity at the end of this month.11th Mar 2019 Industry News
Condé Nast International today announced it has appointed Holly Shackleton as editor-in-chief (EIC) of Vogue International. Shackleton joins Vogue International in April 2019 from i-D magazine where she is currently global EIC.28th Feb 2019 Industry News
A Swiss digital news publisher has found their conversion rate of registered users to paying subscribers has increased by five times since they have altered their approach from building paywalls to creating "dynamic pay gates".14th Mar 2019 Features
After years of shifts, downsizing, and mergers, some magazine media around the world are feeling the pinch. We're all dealing with strained and sometimes non-existent resources, stretched for time, and tasked these days with doing more with less.18th Mar 2019 Features
It is early days for developing new mobile storytelling formats. Despite some successful prototypes, most of the heavy lifting is still about to happen, says Jacob Gjørtz, VP marketing at CCI Europe. Based on what we have learnt this far, brevity, video and AI will be central to what happens next.18th Mar 2019 Features
There is a lot of discussion within the content marketing, and indeed the publishing industry in general, as to how recent technological innovations are going to change branded communications. Christine Beardsell, chief content officer and board member of C3, and presenter at DIS 2019, is among the figures leading the conversation.18th Mar 2019 Features
Last year Facebook hired Jesper Doub, who was then CEO of German media giant Spiegel Online, to lead its new media partnership team. In the past the high profile executive has been both a critic of Facebook and a passionate advocate of its Facebook Journalism Project.18th Mar 2019 Features
Visit our Youtube channelFIND OUT MORE
FIPP newsletters allow you to keep up with industry trends, research, training and events across the worldFIND OUT MORE
What’s happening now, what’s coming next