Hyve News

30/01/2019
Pharmtech & Ingredients

On 20–23 November 2018, Pavilion 2, Crocus Expo IEC, will host Pharmtech & Ingredients 2018, the 20th Anniversary International Exhibition of Equipment, Raw Materials and Technologies for Pharmaceutical Production. The event is organised by ITE Group being the leader in the Russian market of exhibition services.

Today, the volume of the Russian pharmaceutical market exceeds one trillion roubles (RUB 1.246 trillion); according to the results of 2017, Russian medicines captured over 30% of the market, and the total production volume at producer’s values reached 295 billion roubles. During eight years of implementation of Pharma 2020 State Programme, many production sites have undergone modernisation and technical reequipment. The total volume of investments into the industry has exceeded 150 billion roubles, and more than half of producers of medicines constituting the major share of the market have modernised their production. They have acquired technological competencies to produce medicines of most diverse complexity degrees: from generics to complex biotechnological products. Today, the industry enterprises’ agenda includes the development and further production of a new generation of drugs for therapy of oncological and cardiovascular diseases. Owing to the state support, 20 new pharmaceutical plants have already been opened, and production of medicines, in particular, molecules for therapy of HIV, tuberculosis, and diabetes mellitus, has been initiated.

Pharmtech & Ingredients today is a unique exhibition project being significant for the industry and promoting domestic production and cooperation between international innovators and Russian drug-makers.
In 2018, the number of companies participating in the exhibition has increased and reached 439 from 31 countries of the world. The display area has also increased by 9%, as compared to the previous year, and exceeded 18,000 sq.m. Over 130 companies are new participants of the exhibition and will present their displays for the first time. German and Swiss companies traditionally display their products as part of national pavilions. A collective exposition of companies from India and a collective exposition of API producers from China will be displayed at the exhibition for the first time.

The exhibitors’ stands will feature a broad range of production and packaging equipment, lab equipment, design and process solutions for creation of turnkey pharmaceutical production and “clean rooms”. Visitors will have an opportunity to see many exhibits in operation right at the stands. Ingredients section will feature Russian and international manufacturers of high-quality APIs and functional ingredients currently used to manufacture advanced drugs.

Hi-tech equipment innovations will be displayed at the exhibition. For example, GEA will demonstrate the operation of GEA ConsiGma® 1, a laboratory granulator; this device can be equipped with an additional segment for placement of a fluid-bed drier to carry out research and development.

The machine was developed to ensure maximum flexibility, simplify the procedure of R&D and formulation development. Its advantages include lean production, a flexible lot size, fast format change, convenient control elements, and some others. This equipment has been created to be used in processes of continuous production that is gaining momentum in pharmaceutical industry. Continuous production allows making more efficient use of medicines and switching from staged and time-consuming processing of lots to a fully integrated and controllable process that ensures excellent consistency of the product.
Mdi will present a wide choice of equipment and inventions used for sterilisation filtration, sterility testing, specimen products and active ingredients sample preparation, development of new drugs and formulations. The stand will also feature world-class membranes for development and production of rapid immunological tests. The assortment of membranes for blotting and sets for segregation and refining of nucleic acids will be interesting for life sciences research laboratories.

DARA Pharma will demonstrate a new machine for filling and capping of disposable dual-chamber syringes, bottles, and cartridges in sockets. The syringes, bottles, and cartridges are supplied ready for use, sterilised, and ready for filling, so they do not need preliminary washing, sterilisation or a special transportation system for movement between the processing operations.

MILK packaging factory, a large producer of blister foil, will present high-quality primary packaging manufactured jointly with Aluberg, an Italian producer of foil, in compliance with GMP requirements.
PharmTechnologies will present equipment of its own making: EVIO fermenter designed for aerobic and anaerobic cultivation of cells, high-viscosity, solid, semisolid, and liquid fermentation processes. Besides, the company is the exclusive distributor of such European companies as STE, KOCH Pac-Systeme, COOLVACUUM, and KIKUSUI. The stand will present the entire line of equipment for production of solid formulations by STE TECPHARM (Spain), a wide range of packing equipment by KOCH Pac-Systeme (Germany), vacuum freeze dryers by COOLVACUUM, a Spanish producer, as well as KIKUSUI tablet presses manufactured jointly by Japan and Italy.

Business Programme

Pharmtech & Ingredients traditionally includes a large programme of business events featuring the leading experts in pharmaceutical production, representatives of government regulatory agencies, and top managers of Russian and international companies. The subjects of roundtable discussions reflect the most pressing problems and challenges of the industry in the current year.

On 20 November, the business programme events will be opened by “Preliminary Results of the Medicines Labelling Pilot Project”, roundtable discussion, and the Association of Russian Pharmaceutical Manufacturers is acting as its co-organiser. The roundtable discussion will concern the issues related to medicines labelling, counteraction of illegal and counterfeit drugs sales, interim results of the pilot project for labelling with control (identification) signs and monitoring of sales of certain medication types, problems detected during the experiment and ways to overcome them, legal support, and rules of good practice of pharmacological surveillance within the Eurasian Economic Union. Anton Kharitonov, Pharma Product Area Manager at the Advanced Technologies Development Centre, Gennady Pyatsky, CEO at AstraZeneca Industries LLC, Vasily Ignatiev, CEO at R-Pharm, Ivan Glushkov, Deputy CEO at STADA CIS, Nikolay Polyansky, Deputy CEO of External Relations at CV PROTEK CJSC, are among the speakers.

“Technology Transfer: Best Practices of Russian and Foreign Manufacturers” roundtable discussion will take place on the same day. The roundtable discussion will deal with practical examples of technology transfer (including from a laboratory to a production site, from one production division of a company to another) successfully implemented by Russian and foreign pharmaceutical companies. Gennady Pyatsky, CEO at AstraZeneca Industries LLC, Alexander Rudko, CEO at R&D Centre of Novamedika Innotech, Ilya Vesker, Director for Government Relations at Takeda Russia, and Sergey Shulyak, CEO at DSM Group, will take part in the discussion. The roundtable discussion will be moderated by Liliya Titova, Executive Director of the Union of Professional Pharmaceutical Organisations.  The Union of Professional Pharmaceutical Organisations and Kaluga Pharmaceutical Cluster are co-organisers of the event.

“Topical Issues of Low-Tonnage Chemistry Development for Pharmaceuticals and Related Industries” roundtable discussion will take place on 21 November. The event is organised jointly with the Ministry of Industry and Trade of the Republic of Tatarstan. Ramil Khabriev, Academic Adviser at Semashko National Research Institute of Public Health, Aleksey Savelchev, Deputy Minister of Industry and Trade of the Republic of Tatarstan, Rafinat Yarullin, CEO at Tatneftekhiminvest-Holding OJSC, Igor Narkevich, Principal at Saint-Petersburg State Chemical and Pharmaceutical Academy, and other experts in low-tonnage chemistry will take part in the roundtable discussion.

On 21 November, the work of Pharmtechprom, the 13th International Forum, will start. The forum will be held during two days. This year, the event is addressing new topics and is focused on innovations in the global pharmaceuticals. The programme of the forum includes four sessions during which Russian and international experts will present their reports:

  • Session A: Raw Materials and Ingredients for Pharmaceutical Production
  • Session B: Technologies and Equipment for Pharmaceutical Production
  • Session C: Packaging Equipment and Materials
  • Session D: Auxiliary Processes in Pharmaceutical  Production

Renat Kashapov, Excipients and APIs Account Manager in Russia and CIS, Merck (Germany), Nadezhda Romanova, BASF (Russia), Sales and Technical Support Manager in Russia and CIS, Dirk Steinhauser, Deputy Director of Dresden Branch of Glatt Ingenieurtechnik GmbH (Germany), Stanislav Fradkin, CEO at Rohrer LLC (Russia), and other Russian and international experts will participate in the work of the forum.

“API Production: Problems and Solutions” roundtable discussion will take place on 22 November. The roundtable discussion will address problems related to production, importation, registration, and application of active pharmaceutical ingredients in Russia. The invited experts will discuss a number of issues associated with API manufacturing engineering, training of personnel for the manufacture, as well as a number of related problems. The roundtable discussion will be moderated by Victor Dmitriev, CEO at the Association of Russian Pharmaceutical Manufacturers, and Ivan Glushkov, Deputy CEO of Development at STADA CIS.  Alexander Malin, CEO at NATIVA LLC, Alexander Semenov, President of Aktivnyi Komponent CJSC, Elena Sinchenko, Board Member at BION LLC, Alexey Nesterov, CEO at Permсhemical Company LLC, and other industry experts will take part in the discussion. The roundtable discussion is organised jointly with Reatorg, MediBalt, and STADA CIS. BION LLC is the event partner.

Pharmtech & Ingredients exhibition will traditionally include Pharmtech Tutor educational project.The objective of the project is to ensure the acquisition of practical skills by students of pharmaceutical educational institutions. 60 students of the leading Russian universities, including Peoples’ Friendship University of Russia, I.M. Sechenov First Moscow State Medical University, Moscow State University of Fine Chemical Technologies, Yaroslavl State Medical University, Yaroslavl State Technical University, Yaroslavl State University, Yaroslavl Industrial and Economic College, will be assisted by major international exhibitors in taking a mini-internship at the stands of the participating companies. 38 companies will be involved in Pharmtech Tutor project.


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20/05/2021 16:33:09 Hyve's CEO Mark Shashoua discusses our interim results on Ian King Live on Sky News

Following Hyve's interim results announcement, Mark shares more about Hyve's robust insurance policies, the pent-up demand for market-leading in-person events and international travel. 

18/05/2021 06:04:00 2021 interim results

Hyve announces financial results for the six months to 31st March 2021.

  • Robust financial position after further insurance proceeds and ongoing cost management
  • Ran 12 in-person events in H1 despite the ongoing disruption caused by COVID-19
  • Strong customer rollovers reflect pent-up demand for market leading events
  • Well positioned to emerge from the pandemic a stronger business with an omnichannel strategy
Mark Shashoua, CEO of Hyve Group plc, commented:
“Hyve is focused on emerging from the pandemic a stronger business, with a robust financial platform and strategy in place to meet pent-up event demand, while accelerating our omnichannel offering. Since the outbreak of COVID-19 we have secured insurance proceeds totalling £84.9m, achieved cost savings above our projections and ensured we have sufficient liquidity to make the most of the opportunity in front of us as markets begin to reopen.
“Having run events in Russia, Ukraine, China, Turkey and India in H1, we are optimistic that events in Western economies will run in the second half, in line with our modelled scenarios. Continued customer rollover for Western events provides confidence in the pent-up demand for market leading in-person events, which Hyve is well positioned to serve.
“COVID-19 has provided Hyve an opportunity to reset, renew and evolve. We are enhancing our already market leading in-person events by significantly building out our capability to deliver bespoke facilitated meetings programmes at a number of our events in FY22. Our quality-focused portfolio is optimally positioned to deliver an even greater return on time and money for our customers than before the pandemic.
“We continue to evolve our omnichannel strategy, enabling us to strengthen our existing brands, monetise online events and offer customers multiple opportunities to learn, network and trade throughout the year. Our recent acquisition of Retail Meetup is tracking ahead of expectations, demonstrating a successful monetisable model for future virtual Meetup events. With the speed of vaccine rollouts providing optimism and the strong liquidity headroom we have created, we enter the second half with the right talent, portfolio and omnichannel strategy to meet pent-up demand now and into FY22.”
 
 
Financial headlines4 Six months to
31 March 2021
Six months to
31 March 2020
     
Volume sales 39,400 m2 288,900 m2
Revenue £10.4m £90.6m
Headline profit before tax1 £27.6m £19.4m
Profit / (loss) before tax £18.7m £(168.7)m
Headline diluted earnings per share2 8.5p 10.9p
Diluted earnings per share2 5.9p (120.2)p
Interim dividend per share Nil Nil
Adjusted net debt3 £92.4m £157.2m
 
  • £10.4m revenue (2020: £90.6m) reflects multiple lockdowns across our geographies
  • Headline profit before tax £27.6m (2020: £19.4m)
  • This is after including £49.0m of insurance proceeds5 in respect of cancelled events. The income from insurance proceeds is recognised when confirmed, not in the period in which results from the cancelled events would have been recognised had they taken place.
  • Statutory profit before tax of £18.7m (2020: loss of £168.7m)
  • Adjusted net debt reduced to £92.4m (2020: £157.2m) following continued cost control, rights issue in May 2020 raising £126.6m and the receipt of insurance claims to date
  • Hyve maintains a strong liquidity position with visibility of significant cash headroom under our modelled scenarios

Strategic highlights

  • Ran 12 in-person events in Russia, Ukraine, China, Turkey and India during H1
  • Acquired Retail Meetup in December 2020 and ran successful Groceryshop Spring Meetup event in March performing 10% ahead of expectations
  • Completed exit of Central Asia with disposal of Kazakhstan portfolio - 25 non-core, regionally focused events
  • Portfolio now consists of 75 market-leading, bigger, better events (100 pre-pandemic)
  • Successfully secured confirmation of £49.0m of insurance proceeds in the first half of the year. An additional £13.9m has been confirmed since the period end. Including £22.0m confirmed in FY20, total insurance proceeds are now £84.9m:
    • £56.3m for FY20 events (policy cap: £62.0m)
    • £28.6m for FY21 events (policy cap: £50.0m)

Accelerating omnichannel

  • Evolving our in-person offering via facilitated meetings
    • Carrying out trials in FY21 to rollout facilitated meetings prior to launching at BETT, Spring Fair, Mining Indaba and Autumn Fair in FY22
  • Monetising our offering online
    • Secured acquisition of Retail Meetup in December 2020 for initial consideration of £18.5m, with an earnout valued at £3.4m at acquisition, to accelerate omnichannel strategy
    • A first of its kind digital networking format and technology with proven monetisation adding four high quality digital events
    • In March 2021, the Group ran its first virtual Meetup event, Groceryshop Spring Meetup. It saw high levels of customer participation with 8,884 online meetings taking place over the three-day event, proving that online events can cater to customer needs and be monetised
  • Ran more than 80 virtual events, of varying formats, during the first half to keep our customers engaged and connected with their communities online

Outlook

  • Hyve is currently trading between the two modelled scenarios presented in December 2020, "Recovery"6 and "East/West"7
  • In either scenario, Hyve maintains its strong liquidity position and has visibility of significant cash headroom
  • Our outlook for net debt at the year end remains in the range of £100-120m, even having completed the acquisition of Retail Meetup in December
  • With restrictions remaining on international travel and lockdowns still ongoing in certain markets, disruption to the event schedule continues
  • The Group is encouraged by the pace of vaccine rollouts in countries such as the United Kingdom and United States
  • While the near-term outlook remains fluid, Hyve is cautiously optimistic as it continues to see strong pent-up demand for its market-leading events through continued strong rollover of customer deposits and sales
  • Hyve expects a gradual return of customer participation as international travel resumes and restrictions are lifted
> Download the full report (PDF format)
> View interim results presentation (PDF format) 

1. Headline profit before tax is defined as profit before tax from continuing operations and adjusting items, which include amortisation of acquired intangibles, impairment of goodwill, intangible assets and investments, profits or losses arising on disposal of Group undertakings, restructuring costs, transaction and integration costs on completed and pending acquisitions and disposals, tax on income from associates and joint ventures, gains or losses on the revaluation of deferred/contingent consideration and on equity option liabilities over non-controlling interests, and imputed interest charges on discounted equity option liabilities – see note 3 to the condensed consolidated interim financial statements for details.
2. Headline diluted earnings per share is calculated using profit attributable to shareholders from continuing operations before adjusting items – see notes 3 and 6 to the condensed consolidated financial statements for details. The weighted average number of shares used for basic and diluted and headline basic and diluted earnings per share for March 2020 has been restated as a result of the share consolidation and rights issue which took place during 2020, in order to provide a comparative measure. As a result, basic and diluted and headline basic and diluted earnings per share for March 2020 have also been restated.
3. Adjusted net debt is defined as cash and cash equivalents after deducting bank loans. This is therefore prior to any lease liabilities recognised on the balance sheet.
4. Results from continuing operations only. Results for the six months to 31 March 2020 and year ended 30 September 2020 have been restated throughout the Interim Results to this effect.
5. The gross proceeds from insurance claims under the Group’s cancellation insurance policies are recognised in the income statement when the receipt of the proceeds is virtually certain. Of the £49.0m recognised in the period, £34.2m is in respect of FY20 events cancelled in the prior year and £14.8m in respect of FY21 events.
6. 'Recovery' scenario is our base case and assumes that events in China, Russia, Ukraine and Turkey are able to go ahead in FY21. However, they will be smaller than in previous years with a largely domestic customer base. This scenario assumes that events in Western markets will take place during the second half.
7. East/West' scenario is our downside case and assumes that no Western events take place throughout the year.


 
Enquiries:
Mark Shashoua, CEO / John Gulliver, CFOO Hyve Group plc 020 3545 9000
Charles Palmer / Emma Hall / Chris Birt / Jamille Smith FTI Consulting 020 3727 1000
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08/04/2021 06:05:05 FY21 Q2 trading update

Hyve reports further insurance payments secured, and a strong financial platform as markets re-open, for the six months ended 31 March 2021

Trading

In the first half of FY21 the Group ran 12 in-person events, held in Turkey, Russia, Ukraine, China and most recently in India. This brings the total number of events run since the onset of the pandemic to 24. As previously communicated, while domestic attendance remains high, events are running at a significantly reduced scale given the ongoing international travel restrictions in place due to COVID-19.
 

Revenue for the first half is expected to be approximately £10m; this includes revenue from Groceryshop Spring Meetup which performed more than 10% ahead of expectations.

Groceryshop Spring Meetup

The acquisition of Retail Meetup in December 2020 brought to Hyve a first of its kind commercial proposition, which connects the entire retail and grocery ecosystems and offers opportunities to network and trade, at scale. The Retail Meetup product is a key part of the Group’s omnichannel evolution, providing Hyve with a flagship digital format.
 
In March 2021, the Group ran its first virtual Meetup event, Groceryshop Spring Meetup. It saw high levels of customer participation with 8,884 online meetings taking place over the three-day event, proving that online events can both cater to customer needs and be monetised.
 
In the second half of FY21 the Group has one further Meetup event scheduled, Shoptalk Meetup for Women (11-13 May 2021), with registrations tracking in line with management expectations. Two additional events will follow in FY22, Shoptalk Fall Meetup (19-21 October 2021) and Shoptalk Europe Meetup (dates tbc). Online events are scheduled to be complementary to in-person events, giving Shoptalk and Groceryshop the opportunity to meet customer needs at multiple points through the year.

Insurance claims

In March, £15.9m of further insurance claims have been approved, £5.0m in respect of FY20 events and £10.9m in respect of FY21 events.
 
In its trading update in January, the Group announced it had received confirmation of a further interim payment of £8.4m which has now been received.
 
To date insurance proceeds total £71.0m, £22.0m of which was received in FY20 and £49.0m of which has been received or confirmed in FY21. In total, £56.3m has now been received or confirmed in respect of FY20 events (policy cap: £62.0m) and £14.8m has been received or confirmed in respect of FY21 events (policy cap: £50m).

Disposal of Kazakhstan events portfolio

Hyve today also announces the disposal of ITECA LLP, the operating company for 25 of the Group's non-core, regionally focused events in Kazakhstan, to ICA (JV) Limited, a company owned and operated by a former consultant to Hyve in the region. This completes the Group’s planned exit of its business in Central Asia.

In the financial year ended 30 September 2020, the Kazakhstan events portfolio generated revenues of approximately £2.1m and reported an operating loss of approximately £0.6m. As at 30 September 2020 gross assets were approximately £7.6m and net assets £2.8m.  

The Group’s current expectation for consideration receivable is between £4.8m and £5.8m over a five to seven year period. The amount of the consideration and timing of payments varies by reference to the performance of the Kazakhstan business.

Outlook

Hyve is currently trading between the Group’s two modelled scenarios, “Recovery”(1) and “East West”(2). In either scenario, Hyve maintains its strong liquidity position and has visibility of significant cash headroom throughout FY21 and FY22. H1 2021 net debt is expected to be approximately £92m.
 
With restrictions remaining on international travel and lockdowns still ongoing in certain markets, disruption to the event schedule continues. However, the Group is encouraged by the pace of vaccine rollouts in countries such as the United Kingdom and United States and while the near-term outlook remains fluid, Hyve continues to see strong demand for its market- leading events and a gradual return of customer participation.

Mark Shashoua, CEO of Hyve Group plc said:

Hyve is currently operating between our two modelled scenarios. The Group has run in-person events in five Eastern markets during the first half. While the outlook remains fluid, the pace of vaccine roll outs in the United Kingdom and United States provides optimism that events in Western economies will run in the second half and with growing confidence from calendar year 2022 in line with our recovery scenario.
 
The continuing strength of customer rollover for Western events is proving there is pent-up demand that will be fulfilled as and when restrictions are fully lifted.
 
We remain active in delivering on our strategic goals, including managing our portfolio, and are pleased to have found a good home for the 25 legacy events in our regional Kazakhstan portfolio; we wish the business success in the future. This concludes a key strategic aim to exit the Central Asia markets.
 
Our focus on developing our omnichannel strategy positions Hyve well for recovery as markets re-open. We are focused on driving growth via in-person market-leading events as restrictions lift, and online as we progress the Group’s digital evolution. As a blueprint for future growth, in March we successfully ran our first monetisable virtual Retail Meetup event, Groceryshop Spring Meetup, with exceptional online turnout and engagement, providing a proven model for our next two virtual Meetup events to follow.

 
  1. Recovery’ scenario assumes that events in China, Russia, Ukraine and Turkey are able to go ahead in FY21. However, they will be smaller than in previous years with a largely domestic customer base. This scenario assumes that events in western markets will take place during the second half.
  2. ‘East-West’ scenario assumes that no western events take place throughout the year.

For further information please contact:

Hyve Group plc
Mark Shashoua / John Gulliver 
 
+44 (0)20 3545 9400
 
FTI Consulting
Charles Palmer / Emma Hall / Chris Birt / Jamille Smith
 
 
+44 (0)20 3727 1000
 
 

About Hyve Group plc

Hyve Group plc is a next-generation global events business whose purpose is to bring together and connect entire sector ecosystems from all corners of the globe. We meet our customer needs to learn, network and trade via both market-leading in person and online events. Hyve Group plc is all about globally consistent best practice and unrivalled quality. Our vision is to create the world's leading portfolio of content-driven, must-attend events delivering an outstanding experience and ROI for our customers. Hyve’s market-leading portfolio of global brands include: Shoptalk, Spring Fair, MosBuild, Bett, Mining Indaba and recently acquired Retail Meetup, a ground-breaking digital platform enabling online networking and trade to take place at scale.
 
Where business is personal, where meetings move markets and where today's leaders inspire tomorrow's.

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08/03/2021 10:41:25 Krystina Gustafson on Shoptalk Meetup for Women

To celebrate and help raise awareness for International Women’s Day, taking place on Monday 8th March, we spoke to Krystina Gustafson, SVP Content. Here, she tells us about the upcoming Shoptalk Meetup for Women event and discusses what drives Shoptalk’s longstanding passionate support for women in ecommerce and retail.

Shoptalk-Women.png


Shoptalk has a strong history of speaking up for women – where did the passion to really make a stand for this issue originally come from?


At Shoptalk our goal has always been to lead the dialogue on the transformation of retail and to serve as a catalyst for change. Our leadership team recognized early on the importance of using our events as a platform to advocate for women in the industry. Women account for the lion’s share of consumer purchases, yet only 12% of Fortune 500 retailer and consumer brand companies have a woman CEO. By amplifying women’s voices and raising their profiles, we can drive meaningful change to achieve gender equality in the industry.


It’s a bold move to arrange an entire event focused on women, and it must be something you thought about for a long time. What was the deciding factor to make it a reality?

We made an even bolder move in November 2019, when we decided to feature a 300+ all-women speaker line-up at Shoptalk 2020. It was particularly bold since we’d already confirmed 60+ men to speak. We asked these men to nominate a woman colleague to take their place on stage and were overwhelmed by their support. We were disappointed that COVID-19 prevented us from holding this ground-breaking event but knew we needed to act. The recent dire statistics surrounding women in the workplace (for example, labor participation rates for women have dropped to levels last seen in the late 1980s) confirm that the industry needs Shoptalk Meetup for Women.


What has the reaction to the event been from the industry?

It’s been inspiring to see both women and men jump at the chance to support this initiative. For women, the opportunity to network with other like-minded individuals across different company types and job functions has really resonated. Specifically, we’ve heard from women in tech and data-centric roles that Shoptalk Meetup for Women provides a sense of community and a realization that they’re not alone in typically male-dominated positions. Men have advocated for women leaders in their organizations by recommending them as Experts for our popular Ask-an-Expert program, and by speaking up about their accomplishments in our Original Content series on The State of Women Working in Retail.


You’ve had to do a lot of research on this subject. What was something you learned that really inspired you?

Something that really inspired me is the opportunity Shoptalk has to move the needle for women working in retail. In our series on The State of Women Working in Retail, we surveyed 330+ women in our community. An overwhelming 84% of women said mentors or champions have been either “important” or “very important” to their careers. When we interviewed Monica Turner, the President of North America Sales at P&G, she spoke candidly about how she views mentoring and sponsoring young people as her “life’s purpose.” By providing a place where women at all levels of the organization can connect to provide or receive mentorship, we will play a meaningful role in the development of future women leaders.


How do you think Shoptalk Meetup for Women will change the landscape for women in retail and ecommerce?

Shoptalk Meetup for Women will change the landscape for women working in retail and ecommerce by creating a community of insightful and accomplished women who can help each other achieve their goals. We hope that connections participants make during the event lead to new business, professional development and career opportunities that will last long after the three days in May.

Find out more about our Shoptalk Meetup for Women online event taking place between 11-13 May 2021 here
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25/02/2021 16:44:07 Engaging our communities virtually through the pandemic

How three of our biggest and best events created multi-day virtual experiences to celebrate and support their vibrant customer communities. 

The past 12 months have presented some of the most significant challenges to businesses across the globe and Hyve is no exception, with the majority of our in-person events unable to go ahead. Since our events are a vital part of many business’s marketing strategies, as well as a key platform for innovation and growth for major industries, it was vital to continue to bring our communities together.  

Since the start of the pandemic, our teams have organised more than 100 webinars for our customer communities, and these have been well received. For three of our largest and most in-demand events, we took things a step further and created multiple-day virtual experiences to maximise community engagement.  

Here, the teams from Bett, Mining Indaba and Spring Fair tell us how they did it.  

Overcoming challenges  

Simultaneous to the immediate hurdles of digital upskilling and systems procurement, our teams were also having to entirely rethink their event agendas and content.

Hyve’s in-person events cater for three fundamental customer needs: learning, networking and trading. To date, the vast majority of online events have offered an enormous amount of learning opportunities, which are fantastic for engagement and brand advocacy. To ensure our virtual events were relevant for their respective communities, they had to create a holistic digital experience for customers which answered multiple needs.  

The additional challenge our teams faced was addressing the new needs of customers, as they too were tackling their own challenges brought about by COVID-19. Not only had the format changed, but the disrupted landscape meant that the narrative also needed to be entirely reconsidered. 

Bettfest-screengrabs.png

Digital firsts 

A tailored approach was taken for each event based on research with our customers and feedback on how Hyve could best support them at this pivotal time. Eve Harper, Event Director for Bett, said: “For BettFest we decided to use a combination of on-demand and live content to ensure that our global audience could participate. This mixed model also allowed us to replicate how our educator audience is working with its students, so it was a tried and tested approach among this customer community and one which we knew was manageable for them to fit around their even more demanding than usual day jobs.” 

Elsewhere we introduced technology such as green screens and augmented reality to bring events to life. Live panel debates, online product showrooms and event ceremonies all helped to enrich the event experience and recreate some of the vibrance that comes with a live event.  

retail-interrupted.PNG
 

A larger scale  

One of the main benefits that comes with digital events is scale. For all three events there was an opportunity to welcome new customers for whom time or travel had previously been an obstacle. As such these events reached new levels of attendance and an increased international audience, which in turn will help to build on the customer experience of future events.  

In addition, customers told us that they were able to absorb significantly more information – both in terms of finding new products and watching more content such as webinars and panel discussions.

It was inspirational and has really given me so much food for thought. Everyone could experience the whole show where most like myself can usually only have one day in real time. - Spring Fair @Home attendee 

The buzz of live events is unbeatable  

Digital events are capable of achieving brilliant engagement, but nothing compares to the buzz of physical events. Whether it’s a festival, sporting event, concert or market-leading exhibition, the energy and excitement which is generated by people coming together is unbeatable.  

Missed it last year but now loving #BettFest. The chat and alternative views with links are something else. This is what I’ve been missing, although I do miss sitting with close contacts and hearing their views. - BettFest attendee 

One way that our teams tackled this challenge and generated some of the atmosphere of a live event was through recognising and celebrating members of the community.  

@Bett_show so nice to hear educators being acknowledged for the tremendous work they have done in supporting their students & colleagues during this crisis. - BettFest attendee 

Key to retaining the buzz which is synonymous with Hyve events was securing an unmissable line-up. This was particularly true at Mining Indaba Virtual, which featured three African Presidents on the agenda – must-see content for this customer community.  

Cyril-Ramaphosa,-President-of-the-Republic-of-South-Africa.PNG


The virtual event was the next best thing to actually being in Cape Town. - Mining Indaba Virtual attendee 

For those events which facilitate retail, such as Spring Fair, there’s an addition challenge which Content Editor Emma Wilder explains: “In our customer community, everything is about touch and feel and that’s something you simply cannot replicate online. Retail buyers need to experience the product in real life to really understand if it’s right for their customer or not, equally that’s an essential part of the sale for an exhibitor.” 

Our future is omnichannel  

The changing nature of customer behaviors means we need to evolve our business and this has created a clear vision for our future which revolves around an omnichannel model. Looking ahead, we will be taking an ongoing, year-round approach to supporting our customer communities across the numerous global industries we serve and offering opportunities to learn, network and trade both online and in person.  

In addition to continuing to bring back our in-person events, we will also be creating engaging digital opportunities for our customer communities to come together. We will be enhancing our digital capability to level-up both our in-person and virtual products. 

Joanna Kotyrba, Head of Marketing for Mining Indaba explains an already planned further digital event for the African mining business community: “our inaugural Mining Indaba Virtual Investment Programme will run 30-31 March 2021, a two-day programme of highly targeted and optimised investment meetings. Alongside virtual meetings, we will be running the much-loved Mining Indaba Investment Battlefield online. The Investment Battlefield pitches Africa’s hottest junior mining companies against each other, offering them the chance to win an exhibition package to next year’s Mining Indaba and guaranteeing exposure to our investor community.” 

Disrupting an industry 

Hyve has, and always will be, a company that spearheads change and disruption. We believe that in many industries and geographies, the changes brought about by COVID-19 will have a lasting impact on how people do business. The acceleration of our omnichannel strategy will ensure we are best placed to support our customers and continue to be their number one choice.  

Our future will feature a mix of in person and online activity, with both prioritising quality and continuously striving to provide the highest return on investment and time for our customers. By gaining a deeper understanding of our customers’ needs through the improved data we are able to generate from digital events, we are creating world-class experiences for our customers and introducing them to brand new ways of doing business.  

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04/02/2021 15:36:34 Hyve's CEO, Mark Shashoua, is interviewed by Exhibition News

During her stint as guest editor for events industry publication Exhibition News, renowned industry leader, Ruth Carter, interviewed Hyve's CEO, Mark Shashoua, and discussed his passion for disruption.

In this interview, Mark talks openly about the future role of digital in the events industry, Hyve's acquisition of Retail Meetup and what it means to be an entrepreneur. 
 
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21/01/2021 07:05:00 FY21 Q1 trading update

Hyve Group plc today announces a trading update for the period from 1 October 2020 to the date of this announcement. This coincides with the Group's Annual General Meeting which is being held at 9am today.

Trading

In the first quarter of FY21 the Group ran eight events, including WorldFood Istanbul, the Group’s first event held in Turkey since the onset of the pandemic, as well as further events in Russia, Ukraine and China. These events saw a high quality of domestic attendance albeit at a significantly reduced scale given ongoing international travel restrictions due to COVID-19. This takes the total number of events run by the Group since the onset of the pandemic to 20. Q1 is typically the Group’s smallest quarter by revenue, with fewer events taking place.

Retail Meetup, acquired in December 2020, has encouraging forward bookings for the upcoming events in March and May 2021 and further enhances our omnichannel approach.

For in-person events, while the near term continues to remain highly fluid, the Group is encouraged that vaccinations have started in earnest across the major markets in which Hyve operates.
 

Insurance claims

In FY20 the Group successfully secured £22.0m of income from insurance claims. As announced at Hyve’s final results, during Q1 £13.1m of claims related to FY20 events had been received and a further £11.5m of claims had been approved, but not yet paid. The Group can now confirm that the £11.5m of claim proceeds have now been received, taking the total insurance payments received to date to £46.7m. These amounts are in respect of the policies insuring FY20 event cancellations, capped at £62m. The Group has received confirmation of a further interim payment of £8.4m (£4.5m in respect of certain FY20 events and £3.9m in respect of one FY21 event, with payment awaited).

Insurance cover is in place for the cancellation of FY21 events, with potential claims capped at £50.0m. The Group expects to be able to provide further updates on FY21 insurance claims at its FY21 Interim Results.
 

Acquisition of Retail Meetup - Accelerating the omnichannel strategy

COVID-19 has demonstrated that whilst in-person events remain a critical forum to learn, network and trade, customers now want more touchpoints across the year in a more diverse range of formats. The events industry has not been able to solve how to deliver effective networking and trading opportunities in a virtual environment at scale, which is what many customers need and will increasingly look for in the future.

On 21 December 2020, the Group acquired Retail Meetup for an initial consideration of £18.8m to help solve this issue, enabling at-scale networking and lead generation with custom-built software by bringing the entire ecommerce ecosystem together online.

This ground-breaking remote collaboration proposition is setting a new standard for facilitated networking to conduct business online for the retail and grocery ecommerce industry with proven monetisation. Retail Meetup adds four high quality fully digital events that are expected to be earnings enhancing with clear potential to scale, highly encouraging initial customer response and strong sales performance.

Our upcoming Retail Meetup events include: Groceryshop Spring Meetup (9-11 March 2021) and Shoptalk Meetup for Women (11-13 May 2021) to take place in FY21, while Shoptalk Europe Meetup (dates tbc) and Shoptalk Fall Meetup (19-21 October 2021) are scheduled for FY22.
 

Outlook

The Group is encouraged that vaccinations have started in earnest across the major markets in which Hyve operates however, the near-term outlook remains fluid. We expect continued disruption to our event schedule and a gradual return of customer participation, particularly in western countries.

As announced at the Group’s FY20 Final Results, Hyve has modelled two trading scenarios for FY21. The first, the 'Recovery' scenario, assumes that only events in China, Russia, Ukraine and Turkey are able to go ahead in the first half of FY21 but that all events currently scheduled will take place during the second half. The second scenario, the 'East-West' scenario, assumes that no western events will take place throughout the entire year. Both scenarios remain possible and assume events will be smaller than in previous years, with a largely domestic customer base. In either scenario we have visibility of cash headroom throughout FY21.

The Group maintains its strong liquidity position and continues to focus on cash generation and preservation. Strong demand for in-person events to return continues and with market-leading events leading the way for the recovery into FY22 our strategy and focus on building an omnichannel business positions Hyve well for a post COVID-19 environment as markets re-open.
 

Mark Shashoua, CEO of Hyve Group plc said:

“Hyve enters 2021 with a strong platform to weather the COVID-19 crisis due to the decisive action taken in 2020 to strengthen our financial position, conserve cash, secure substantial insurance payments and, most recently, by accelerating our omnichannel strategy having completed the acquisition of Retail Meetup.

“In Q1 we have been able to run eight events, including our first event held in Turkey since the onset of the pandemic and while it’s encouraging to see the rollout of COVID-19 vaccines have started in earnest across the major markets in which Hyve operates, the near term remains highly fluid.

“We have done everything in our control to position Hyve at the forefront of the recovery. As in-person events continue to return, Hyve’s market-leading events are optimally placed to service the pent-up demand for learning, networking and trading whilst stimulating the global economy. The evolution of our strategy into an omnichannel business has been accelerated through the recent acquisition of Retail Meetup, enabling our customers to learn, network and trade online, presenting an exciting new avenue of growth for Hyve. Retail Meetup combined with our strong financial platform and market-leading in-person events provides us with a springboard to emerge successfully from the pandemic.”

 

For further information please contact:

Hyve Group plc Mark Shashoua / John Gulliver                                                          +44 (0)20 3545 9400

FTI Consulting Charles Palmer / Emma Hall / Chris Birt / Jamille Smith                    +44 (0)20 3727 1000
 

About Hyve Group plc

Hyve Group plc is a next-generation global events business whose purpose is to bring together and connect entire sector ecosystems from all corners of the globe. We meet our customer needs to learn, network and trade via both market-leading in person and online events. Hyve Group plc is all about globally consistent best practice and unrivalled quality. Our vision is to create the world's leading portfolio of content-driven, must-attend events delivering an outstanding experience and ROI for our customers. Hyve’s market-leading portfolio of global brands include: Shoptalk, Spring Fair, MosBuild, Bett, Mining Indaba and recently acquired Retail Meetup, a ground-breaking digital platform enabling online networking and trade to take place at scale.

Where business is personal, where meetings move markets and where today's leaders inspire tomorrow's.
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