Asian markets drive UBM's growth in 2010 and 2011...

UBM posted strong results last week. In typical UBM-style there were plenty of details to work with - a presentation of some 50+ slides accompanied the results release. Operations in Asia played an important role in the positive results. Key take-aways are:

• Group revenues were up 4.9% to £889.2 million.

• Events profits (£93.5 million) now account for 54.4% of the group's total profits.

• A 17.6% increase in revenues from emerging markets (which UBM defines as mostly Asian markets with a few exceptions: China, India, Thailand, Singapore, Indonesia, Malaysia, Philippines along with three non-Asian markets - Mexico, UAE and Brazil).

• The emerging market segment drove growth as many other geographies slipped: Europe (-8.6%), U.K. (-0.2%), RoW (-11.7%). The company's largest market, North America, posted 7% growth.

• In terms of business segments, event revenues, which generates the largest portion of revenues, grew by close to 8%. Two other smaller segments grew faster - online jumped 28.6% and "targeting, distribution & monitoring" was up 12.3%.

• Event revenues rose from £287.5 million in 2009 to £310.0 million last year.

• Stand revenues accounted for 67% of that figure, sponsorship and other revenues 21% and attendees revenues 13%.

• Total square metres sold increased 3.3% to 925,200 sqm, total exhibitors worldwide slipped 1.1% to 36,900 and total attendees were up 1.1% to 1.22 million.

• Print continued its predictable slide dropping from nearly £166 million in 2009 to £144.1 million in 2010.

• Almost half of UBM's top 20 annual exhibitions are now in Asia with the Hong Kong Jewellery & Gem Fair, Furniture China and Cosmoprof Asia (HK) holding the 1st, 3rd and 4th positions respectively. (Although the slide does not state is specifically, the exhibitions appear to be ranked by revenues.)

The group continues to be actively pursuing acquisitions. UBM closed 22 deals in 2010 worth £258 million. The Canon Communications deals (which has only minor Asian exposure) accounted for 71% of that figure (approximately £183 million).

Eight other events acquisitions accounted for 18% of the total or £46.5 million. That results in an average price of £5.8 million (or US$9.4 million) per event acquired in 2010. Of those eight, two were in Asia - Sign China and the Children-Baby-Maturity Show in Shanghai.

The focus on Asia looks set to continue in 2011. First on CEO David Levin's list of priorities for 2011 was "emerging markets - build in growth markets. He specifically highlighted acquisitions in India, further emerging market acquisitions and new launches/geo-clones all in emerging markets.

And two Indian event acquisitions (one in travel and tourism and one in the dental market) were announced the same day - with no doubt, more to follow.