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Informa FY Results In Line With Trading Update; New Guidance For +14% FY24 FCF

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  • EUR bonds yet to stream.
  • Results look in-line on FY revenue and op profit and broadly in line with the rough figures given in the trading update.
  • Final FY23 leverage expected was in line with the trading update at 1.4x while FCF of GBP 631m comes against the trading update amount of over GBP 600mn.
  • FY24 guidance was increased slightly on rev (by GBP 25mn) and op profit (by GBP 5mn) while FCF guidance of over GBP 720mn was initiated. Minimum buyback of GBP 340mn.

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