Clarion Events Group Half-year review – 31st July 2021

Clarion Events Group Half-year review – 31st July 2021

The Clarion Events Group (“the Group”) provides its half-year update for the 6 months ending 31st July 2021.

Trading update

• Revenue remains significantly impacted by the COVID-19 pandemic.
• Only a small number of events traded in the first half of the year, leading to lower revenue than seen in previous years.
• In Quarter 3 we have seen a return to business across the majority of our markets including the US, UK and China.  Europe is re-opening country by country.

Cost control

• We continue to maintain our careful management of the Group’s cost base and cashflows throughout the period, and into the second half of the year.
• Collection of funds for future events remains strong and refund rates remain low.

Looking forward

• Live events are returning in line with the gradual easing of world-wide restrictions.
• The strength of those that have taken place demonstrates the resilience of the channel and the pent-up demand amongst our customers for face-to-face contact.
• Our Chinese business held some of the Group’s initial events this year, with successful domestic shows held in April, June and more recently in September 2021.
• The UK opened its first show in July 2021 as part of the UK government’s Events Research Programme, to which the Group has been a key contributor.  A number of shows are scheduled throughout Quarters 3&4
• The US markets are open with a strong pipeline in Quarters 3&4.
• Digital alternatives continue to be developed both as standalone instances and in conjunction with live events.
• We are still well placed to deliver exceptional customer outcomes and longer-term value creation.