FIERA MILANO: THE BOARD OF DIRECTORS APPROVES THE CONSOLIDATED RESULTS AS AT 30 JUNE 2023

The Board of Directors of Fiera Milano S.p.A. (“Fiera Milano” and/or the “Company”), leader in Italy and one of the main integrated operators in the world in the exhibition and congress industry, today approved the results as at 30 June 2023.

• Revenues of Euro 132.2 million, an increase of Euro 16 million compared to the first half of 2022

• EBITDA of Euro 41.6 million, an improvement of Euro 2.1 million compared to the first half of 2022

• Net profit of Euro 25.7 million, compared to Euro 5.3 million recorded in the first half of 2022

• Net Financial Position before IFRS 16 effects: net financial availability as at 30 June 2023 equal to Euro 63.8 million, an improvement on the net financial availability of Euro 29.8 million as at 31 December 2022

The Chief Executive Officer and General Manager of Fiera Milano, Francesco Conci, commented: “Positive results for the first half of the year, mainly due to the good general performance of annual exhibitions in the tourism and fashion sector and of multi-annual exhibitions thanks to the presence of TUTTOFOOD, with performances above expectations due to the greater penetration of offered services, and of ITMA 2023, one of the most important worldwide exhibitions of textile and garment technologies, sectors in which the city of Milan and Italy itself play a significant role. Excellent results from the Congress business, with the Allianz-MiCo center being increasingly the protagonist of the main international conferences in the medical-scientific field, confirming Milan as an international hub capable of offering a unique platform for hosting relevant events of global reach. During the second half of the year, Fiera Milano will continue, in line with forecasts, with the execution of the CONNE.C.T. 2025 Strategic Plan, leveraging on the completion of the technological and digital transformation, on a greater penetration of services and on the strengthening of the exhibition and congress portfolio, also through the definition of agreements with strategic partners for international development and the launch of new exhibition concepts. Although the macroeconomic scenario expected for 2023 continues to present elements of uncertainty, in light of the results achieved in the first half of the year, which confirm a well-established post-pandemic recovery, we believe we can improve the previous estimates by forecasting the achievement of a result positioned in the upper part of the Ebitda target of Euro 70-80 million as at 31/12/2023". 

EBITDA GUIDANCE FOR 2023 CONFIRMED IN THE HIGH END OF THE RANGE OF EURO 70-80 MILLION. The Company believes it can improve the previous estimates by forecasting the achievement of a result positioned in the upper part of the Ebitda target of Euro 70-80 million as at 31/12/2023.

AGREEMENT WITH LINEAPELLE RENEWED UNTIL 2030. Fiera Milano S.p.A. and Lineapelle S.r.l., organizer and manager of the homonymous trade fair, have renewed the collaboration agreement which will see the most important international exhibition of leathers, accessories, components, fabrics, synthetics and models take place every six months in the Fiera Milano exhibition district in Rho until the year 2030. A partnership that confirms the role and attractiveness of Fiera Milano which, in terms of functionality of spaces, variety of services and accessibility, it has proved to be the ideal location for a key market for fashion, design and luxury, a driving sector of our economy and above all with a large export capacity.

FIERA MILANO ON THE INTEGRATED GOVERNANCE INDEX PODIUM, AWARDED AS "ESG IDENTITY LEADER". For the third year in a row, Fiera Milano was confirmed at the top of the Integrated Governance Index (IGI), the index developed by ET.Group and presented on 14 June at the ESG Business Conference which acknowledges the ability of companies to undertake a serious path of transformation and evolution of their identity in an ESG key, integrating sustainability into their business model. Fiera Milano ranked second as ESG identity leader in the "Top 5 extra 100", the ranking that includes all listed companies beyond the top 100 by capitalization.