In the latest quarterly EPS Market Monitor report on the global Scientific, Technical & Medical (STM) publishing market, based on the reported full-year performance of global, publicly-traded players, EPS increases its previous estimate for growth in 2003 from 3% to 4%.
EPS, which tracks the $7.3 billion global STM market shared by North American and European publishers, this quarter focused particularly on the eight largest publishers, accounting for about two-thirds of the market: Elsevier, Thomson Scientific & Healthcare, Wolters Kluwer Health, John Wiley, Springer, American Chemical Society, Blackwell, and Taylor & Francis. Collectively, these eight generated as-reported revenue growth of 12.4% in $US, and 5.2% in their reported currencies. EPSís analysis shows that the eight generated collective organic revenue growth (at constant currency and excluding acquisitions and disposals) of about 4.5%. Other, less mainstream segments such as the commercial licensing of genomic and seismographic databases, along with many smaller society publishers, lagged the rest of the STM information market.
Of the market leaders, Elsevier and Thomson SHC both turned in strong performances for the year, with organic growth of 5% and 4% respectively. Wolters Kluwer Health, on the other hand, recorded negative organic growth of 1%. Elsevier and Thomson recorded 2003 profit margins of 33% and 29%, respectively; both have enjoyed annual profit growth of 16% since 2001, aided by numerous acquisitions. ìWeíll soon have the full picture for the year, when all filings and reports are in, and more private estimates have been completed.î said Steve Sieck, EPS Director and director of the Market Monitor programme. ìBut the available data now very clearly show that underlying growth was stronger than expected, especially given the constraints on some academic library and corporate budgets, and the pressures on established business models. The STM market continues to display the durability shown all through the recent downturn, in contrast to most other publishing sectors.î
ìOur analysis of quarterly activities shows that strong underlying growth and a general economic upturn are spurring the industry leaders to accelerated new product and business alliance activity, especially involving acquisition and development of new content assets,î noted David Worlock, EPS Chairman. ìOur own client engagements are also reflecting this acceleration of corporate development activity.î
Latest EPS market monitor raises previous estimate for 2003 revenue growth to 4%
EPS increases its previous estimate for growth in 2003 from 3% to 4%.
