UBM’s adjusted operating profit was essentially flat, falling from $259.5 million in 2008 to $256.1 million last year. The company cut 479 jobs and 31 print titles last year, which helped it maintain its margins.
UBM pointed to several strong areas of its operations, including its events division, which accounted for 51% of the company’s operating profit on just 33.9% of its total revenue in 2009. Additionally, it said its emerging-markets revenue increased 35.9% last year, and 20% of its adjusted operating profit came from its businesses in Brazil, China and India.
Print, however, remains a difficult and diminishing area for UBM. The print segment’s revenue declined 23.1% in 2009. “Our medium-term goal is to establish a smaller, commercially sustainable, more profitable portfolio. The proportion of UBM’s revenue generated by print magazine products will continue to fall, and we anticipate that it will be less than 15% by the end of 2010,” the company said in its earnings report.