Messe München India postpones air cargo India

India, 14th January: Messe München India, a subsidiary of Messe München, has announced the postponement of its air cargo India, a biennial trade show and conference serving the air cargo industry. As is the case in many countries, India is experiencing a surge in omicron infections with the national 7-day average of more than 320,000 confirmed cases.

The show will now be held from 31st May to 2nd June 2022 at the Grand Hyatt in Mumbai. Due to the current COVID restrictions, the organiser made the decision to postpone in close consultation with the exhibitors, sponsors, industry associations and partners. According to Messe München India, the 2022 edition of air cargo India will focus on the future trends, sustainability, latest innovations in the air cargo industry in a post-COVID world.

Haymarket manages to double profits in FY 2021

London, 17th January: Earlier this week, London-based media, data and information company, Haymarket Media Group, released its financial results for the financial year ending 30th June 2021. The group reported net profit of £16.5 million (US$22 million) – more than double the £8.3 million (US$11 million) recorded the year before.

The company’s revenue in the year was £147.7 million (US$204 million), representing year-on-year growth of 3.4%. Half of its revenues were generated in the U.S., 40% from the U.K. and 10% in the rest of the world. Over 90% of its revenues were from it medical media business. The company had a net cash of £37.9 million (US$52 million) as of 30th June 2021, up from £24.8 million (US$34 million) in the previous year.

Koelnmesse reports €130m in 2021

Cologne, 13th January: Koelnmesse is the most recent organiser (in long and growing list) to report a painfully steep decline in revenues and profits as a result of the global pandemic which began more than two years ago.

In 2021, Koelnmesse organised 13 events at its venue in Cologne. The group also organised ten events abroad in eight different countries. Koelnmesse also hosted 11 so-called guest events at its venue in Germany.

Several events were held in purely digital form, while others were hybrid events. Preliminary revenues in 2021 are expected to be approximately €130 million (US$147 million), with a net loss around €100 million (US$113 million). The management cited a variety of key revenue sources including reasonably good results from the autumn trade fair and income from the use of the venue as a vaccination centre. The management also noted that cost-cutting measures prevented the loss from being even larger.

Share price movement in B2B media companies involved in Asia

Figure 1: BSG B2B Media Index vs. All Tracked B2B Stocks (price movement over past 12 months)

Figure 2: BSG B2B Media Index vs. All Tracked B2B Stocks (price movement since January 2022)

Quick takes

Indonesian tourism looks to 2022 for recovery

Indonesia’s Ministry of Tourism and Creative Economy (MoTCE) aims to attract between 1.8 and 3.6 million international visitors this year – with a focus on quality and sustainable tourism. Last year, Indonesia recorded visitor arrivals of 1.5 million, which fell from 4.1 million arrivals in 2020.

Tencent founder calls the company ordinary

Pony Ma is the founder of e-commerce giant Tencent. He is also one of the most low-profile and laconic billionaires in China. So it is interesting to hear in his leaked remarks to employees, he called Tencent an ordinary and replaceable company.

Singapore confirms LVS license until 2030

The government in Singapore has announced changes to the tax regime for casino operators. That may not please the bosses at LVS, but in a bit of good news, the government confirmed that the two integrated resorts will keep their monopoly status until 2030.

Big investors holding on to Paytm shares

An interesting bit of detail on the holdings of key investors in the Indian online payment platform, Paytm – including Softbank, Alibaba Group and ANT Group.

Hong Kong border remains closed with no end in sight

Hong Kong, 13th January: In Hong Kong, even tighter restrictions have been put back in place following a very small uptick in the number of COVID infections. The seven-day average in Hong Kong is just 17. Despite that, the Hong Kong government has closed primary schools and banned dine-in at restaurants after 6pm.

This is largely seen as an attempt to follow Beijing’s zero-COVID strategy. Hong Kong’s border with China has been closed since February 2021 and over 150 countries are now listed as “high risk” by the Hong Kong government.

Singapore allows business events of up to 1,000

Singapore, 5th January: The Singaporean government has decided to ease COVID restrictions to allow business events of up to 1,000 people, although organisers must notify and receive prior permission from authorities. Organisers can host events of 50 people or less without needing to notify authorities.

COVID requirements remain significant. Restrictions include: masking of all participants; no food and beverage; participants must be seated or standing in fixed positions; participants are required to keep a distance of at least one metre from each other and need to remain divided into zones of 100 people each – with at least two metres between zones.

GainingEdge wins venue contract in China

Beijing, 11th January: GainingEdge, a business events consultancy, announced that it has won a bid to work on pre-opening operations and marketing activities for the second phase of the China National Convention Centre (CNCC-II) in Beijing.

GainingEdge has entered into a strategic partnership with Beijing North Star Convention and Exhibition Investment, the main stakeholder and developer of CNCC-II. The consultancy will work to position the venue as a host for international conventions. Taking into account the second phase, the venue will have a total capacity of 780,000 m2 with 420,000 m2 dedicated to convention activities.

GL events makes another acquisition in China

Shanghai, 4th January: There is not a lot of detail on this deal. It does not yet appear on the GL events website, but some media are reporting that GL events has acquired a 65% stake in the organiser of Harbin Seed Expo. The event focuses on seeds and related equipment. Harbin Seed Expo employs 23 people and has reported revenue of US$3.5 million with an operating margin of 40%.

The organiser has three events in its portfolio. Harbin Seed Expo is an annual event that features more than 1,000 exhibitors and covers 25,000 m2. The company also organises similar, smaller annual events in Chengdu and Nanjing.

Share price movement in B2B media companies involved in Asia

Figure 1: BSG B2B Media Index vs. All Tracked B2B Stocks (price movement over past 12 months)

Figure 2: BSG B2B Media Index vs. All Tracked B2B Stocks (price movement since January 2022)

4,300+ buyers at Cosmoprof India 2021

Mumbai, 24th December: Organised by Informa Markets and BolognaFiere, the second edition of Cosmoprof India concluded last month with more than 4,300 participants.

Running from 16th to 17th December 2021 at the Hotel Sahara Star in Mumbai, the show featured approximately 100 exhibiting companies showcasing a range of new products and services.

HKTDC’s Benjamin Chau to retire

Hong Kong, 4th January: The Hong Kong Trade Development Council (HKTDC) has announced that after 37 years at the organisation, Benjamin Chau will retire. The HKTDC has appointed Sophia Chong as the new Deputy Executive Director.

Ms. Chong joined the HKTDC in the 1990s. She has been promoted from the role of Assistant Executive Director, in which she was responsible for managing the HKTDC’s exhibitions. She also previously served as Director, Exhibitions and Director, Publications & E-Commerce. In her new position, she will oversee all international trade fairs and the HKTDC’s digital business.

Indonesia’s MICE industry looks up in 2022

Indonesia, 3rd January: According to the Indonesian Exhibition Companies Association (IECA), the government of Indonesia relaxed its COVID-19 restrictions in early October. As a result, of the 64 physical exhibitions originally scheduled in 2021, 42 managed to take place.

The IECA is more optimistic about the year ahead. Hosea Andreas Runkat, Chairman of the IECA, stated that the number of in-person events will be closer to 2019 levels by mid-2022 – if the Indonesian government financially supports the MICE industry this year.

MyCEB releases data on MICE in 2020

Kuala Lumpur, 22nd December: Last month, the Malaysia Convention & Exhibition Bureau (MyCEB) released its annual report for 2020 (yes, 2020).

In that year, MyCEB reports that it secured 60 business events with an estimated 90,000 delegates and an economic impact of RM 1.1 billion (US$273 million). The bureau supported a total of 21 events that year, with an estimated economic impact of RM 186 million (US$46 million), attracting an estimated 44,000 delegates.

Quick takes

Hong Kong shuts down (again)

Despite a seven-day average of just 15 cases (including imported infections), the Hong Kong government has re-imposed restrictions by putting a stop to all events. They also banned flights from eight countries.

Australia looks to AIME to restart events

AIME, with is owned by the Melbourne Convention Bureau, expects that the annual gathering will “spearhead business for both state and country in 2022 and beyond.” 17 convention bureaus will participate in the physical event, which takes place from 21st to 23rd March.

Share price movement in B2B media companies involved in Asia

Figure 1: BSG B2B Media Index vs. All Tracked B2B Stocks (price movement over past 12 months)

Quick takes

Beijing cracks down on influencers

It is well-known that livestreaming is big business in China, but we didn’t realise quite how big it is. This week, Huang Wei, China’s so-called ‘queen of livestreaming,’ was fined by Beijing for evading taxes. The fine… US$210 million. And apparently, she has the cash on-hand to settle the bill in the next few days.

Another misstep by Alibaba

Alibaba’s woes continue. This week, China’s Ministry of Industry and Information Technology (MIIT) suspended an information-sharing partnership with Alibaba Cloud Computing. Apparently, the company failed to “promptly report and address a cybersecurity vulnerability.”

CEIR reports weak Q3 numbers in U.S.

The Center for Exhibition Industry Research (CEIR) has published its key metrics on the U.S. B2B exhibitions industry. Net square feet sold fell 44% in Q3 2021 compared with Q3 2019. Number of exhibitors was down 51%. Attendees fell 37% and revenues were down 50%. Despite that, the U.S. still seems likely to be one of the best performing markets in 2022.

Cancellations in KL continue

Automechanika Kuala Lumpur, organised by Messe Frankfurt, has announced the decision to postpone the next edition of its show from March 2022 until March 2023.

Malaysia’s Movement Control Order (MCO) policies are severely affecting travel. As a result, Messe Frankfurt stated that the new show dates are 16-18 March 2023.

300+ events hosted in Kuala Lumpur Convention Centre in 2021

Kuala Lumpur, 21st December: The Kuala Lumpur Convention Centre (KLCC) hosted more than 300 national and regional business events in 2021 with 60% held in the last quarter following the reopening in early October.

According to KLCC, of the 300 events, 94% were meetings and functions, 3% were exhibitions and 3% were conventions.

Tarsus announces two new acquisitions

U.S., 15th December: Tarsus Group, a London-based B2B media group, has announced the acquisition of two U.S.-based events businesses, FounderMade and Health Connect Partners (HCP). Tarsus has completed an impressive six deals in 2021.

FounderMade and HCP will become part of the newly created Tarsus Health division, which will also include Tarsus Medical brands and BodySite, a digital health platform acquired earlier this year. The new division will cover the healthcare, wellness and nutrition segments.

Hyve’s revenues down 44% in FY2021

London, 16th December: Last week, London-listed Hyve Group (formerly ITE Group), released its preliminary results for the year ended 30th September 2021. Revenues for the year were £55.2 million (US$74 million). That represents a 44% drop year-on-year.

During the financial year, Hyve sold a total of 211,000 m2 at its events, compared with the figure of 344,000 m2 in the previous year. The company posted a profit before tax of £20.8 million (US$28 million), compared with a loss of £18.1 million (US$24 million) in the previous year. Adjusted net debt was £79.9 million (US$107 million) as of 30th September 2021.

In Asia, the company generated revenues of just £4.1 million (US$5.5 million) in the financial year, down from 76% in the year before. Hyve’s loss before tax in the year was £7.5 million (US$10 million), compared with a profit of £6.4 million (US$8.6 million) in the year before.