Reed Exhibitions reports year-end revenues up 11 percent

Reed Exhibitions reported year-end revenues of $820.6 million, up 11 percent from 2004 – making it one of the strongest performing units of parent company Reed Elsevier. The exhibition business performed well across all markets – the United States, Europe and Asia – but did especially well in Japan. The company’s entertainment industry and property shows also did especially well, according to Reed Elsevier. Reed Business, the part of Reed Elsevier that includes the exhibition and b-to-b publishing business, generated year-end revenues of approximately $2.4 billion, up 5 percent from 2004. In 2005, Reed Business focused heavily on growing its online business through webzines, recruitment sites, search and subscription information and data services. Online revenue grew 30 percent to $300 million in 2005. Overall, Reed Elsevier reported revenues of approximately $9 billion, up 7 percent from 2004. The company also announced it’s planning dividends and share buybacks in 2006 equal to approximately 70 to 80 percent of its free cash flow – at $350 million a year over three years. CEO Crispin Davis maintained to investors that the company would still have enough cash left to continue to invest in core businesses and make strategic acquisitions. Contact: Catherine May, Reed Elsevier, 44 20 7166 5657. Link: www.reedexpo.com