Thursday, 06 August 2020
IMPORTANT SIMEST FUNDING FOR COMPANIES PARTICIPATING IN ITALIAN EXHIBITION GROUP´S INTERNATIONAL EXPOS
Rimini, 6th August 2020 – Exhibitors at the international expos of Italian Exhibition Group, listed on the MTA of Borsa Italiana (Italy´s stock exchange) and leader in Italy in the organization of trade fair events with its Rimini and Vicenza venues, will from now on be able to take advantage of a great business development opportunity, covering a considerable part of participation costs, thanks to the incentives (also in the form of non-returnable subsidies) announced by SIMEST and paid out on public resources handled on behalf of the Italian Ministry for Foreign Affairs and International Cooperation, funding that, as announced precisely today, will be further boosted and extended to all countries, including those in the European Union.
This opens up new opportunities for enterprises that entrust large international trade expos with a strategic role for their business development, providing them with further important economic support for re-starting after the unexpected stop caused by the pandemic.
The new feature of extending the effectiveness of the support to also include investments made or to be made within the European Union, where half of Italy´s exports head, will in fact be a further stimulus for enterprises in the export-oriented sector.
Moreover, the widening of the support to include Mid-Cap companies and Large Enterprises is already effective, with funding dedicated to covering expenses connected with participation in international trade expos and exhibitions. Admissible expenses now also include virtual promotion events.
The conditions announced enable to imagine financeable sums of up to 150,000 euros for each application. Of this ceiling, within the limit of 100,000 euros, 40% is financeable as a non-repayable subsidy.
Information is available on the web site sacesimest.it, ready from today to receive applications. IEG puts at its clients´ disposal (with references already in their possession) a dedicated team to assist them in drawing up applications and forwarding them to SIMEST.FOCUS ON ITALIAN EXHIBITION GROUP
Italian Exhibition Group (IEG), listed on the Mercato Telematico Azionario, the main equities market organized and managed by Borsa Italiana S.p.A. (Italy´s stock exchange), is the Italian leader in the organization of trade expos and one of the main players in Europe in the expo and conference sector with its venues in Rimini and Vicenza, as well as its branches in Milan and Arezzo. The IEG Group stands out for the organization of events in five categories: Food & Beverage; Jewellery & Fashion; Tourism, Hospitality and Lifestyle; Wellness, Sport and Leisure; Green & Technology. In recent years, IEG has launched an important process of foreign expansion, also by means of joint ventures inked with local players (e.g. in the United States, Arab Emirates and China). IEG ended the 2019 financial year with a total consolidated turnover of 178.6 million euros, an EBITDA of 41.9 million and a net consolidated profit of 12.6 million euros. In 2019, IEG held a total of 48 organized or hosted exhibitions and 190 conference events. www.iegexpo.it
This press release contains forecast elements and estimates that reflect the management´s current opinions (´forward-looking statements´), particularly regarding future management performance, realization of investments, cash flow trends and the evolution of the financial structure. For their very nature, forward-looking statements have a component of risk and uncertainty, as they depend on the occurrence of future events. The effective results may differ (even significantly) from those announced, due to numerous factors, including, only by way of example: food service market and tourist flow trends in Italy, gold and jewellery market trends, green economy market trends; the evolution of raw material prices; general macroeconomic conditions; geopolitical factors and evolutions in the legislative framework. Moreover, the information contained in this release, does not claim to be complete, and has not been verified by independent third parties. Forecasts, estimates and objectives contained herein are based on the information available to the Company as at the date of this release.