2

Roger HortonCEO

Taylor & Francis

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Academic Information Division

Overview of the AI division – books and journals

Characteristics of the AI Book Business

Profile of the Book Business

Digital and e-Books

Summary

Questions

4

Academic Information Division

Revenues of £324m in 2011 (£153m books), Adj OP margin of 36%

Formed in 1798, floated 1998, merged with Informa in 2004

Employ over 1,400 people

Centres in UK, USA, Singapore, India, China, Australia and Europe

Built through organic growth and fully integrated acquisitions

Focused on resilient and growing nichesOP

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Specialist Academic Information

Target markets - university libraries, under/post graduate students,researchers and professionals

Shift from print to electronic delivery 100% journals online, e-book revenues 12% from zero in 10 years

Digital excellence, geographic expansion and high value/margin specialism

Quality specialist content provider

Books and journal businesses thrive on co-existence

Top Humanities and Social Science Academic publisher with STM strengths

Global focus, global reach

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1,600+ subscription based journals

3,500+ new book titles p.a.

60,000+ titles in books back list

Revenues by Type Revenues by Sector Revenues by Geography

Academic Information

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The Global AI Business

10%9%

13%8% 4%

18%

20%

29% 3%5%

13%

14%

20%5%

4.5%

0

50

100

150

200

250

300

350

2006 2007 2008 2009 2010 2011

Turnover £m

Turnover £m and growth

BooksJournalsTotal

% Growth

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Senior Management Team

Roger Horton

CEO

Emmett Dages

President US

Books

Jeremy North

Managing Director

HSS Books

Ian Bannerman

Managing Director UK

Journals

Kevin Bradley

President US

Journals

Stuart Dawson

COO

Christoph Chesher

Group Sales

Director

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Competing Publishers

AI - wide reach across fragmented market

AI - balanced, specialist, content levels

AI - quality books and journal content by subject, format and delivery

Publisher Student Learning

Research & Ref

Professional Crossover

HSS STM Books Journals

Taylor & Francis (AI) Wiley/Blackwell Springer OUP Sage Elsevier McGraw-Hill Pearson Cengage

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The Books Business

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AI Books - Resilient

Publish through the knowledge chain

Content quality is king – print, e-books, online are merely the delivery tools

Depth, scale and price setting

Education resilient through the cycle - seasonal not cyclical

Renewable and repeatable revenue streams

Global not local

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Market leading brands in humanities, social science,

science and technology

Global reach and infrastructure

Digital strategy and production innovation

Deep back catalogue consistently providing 70% of annual book revenue

Strong control of copyright, margins and pricing

Long standing, strong management team

Books – Core Strengths

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Books Revenue by Geography

24%

8%

17%

51%UK

Europe

Rest of World

North America

14

Book Revenue Growth by Key ROW Territory

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

Japan India Singapore Middle East China

14.0%

32.0%

10.0%8.0%

15.0%

20

11

Gro

wth

Rat

e

Market territory

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Acquisition Strategy

Bolt-on

Effective way of commissioning new

publishing

For example:

• Kogan Page Education (2003)

• David Fulton (2006)

• Productivity Press (2007)

• Architecture Press (2011)

• Earthscan (2011)

Value created by full integration, creation of scale and close management

Strategic

Strengthening of position in key subjects

or levels

Including:

• Routledge (1998)

• CRC Press (2003)

• Garland Science (1997)