Friday, 07 September 2018
ITALIAN EXHIBITION GROUP ENDS THE FIRST HALF OF 2018 WITH A RISE
Consolidated revenue 77.3 million euros (71.3 million as at 30th June 2017) and consolidated EBITDA 17 million euros (16.6 as at 30th June 2017)
The Board of Directors of Italian Exhibition Group S.p.A. (IEG) approved the half-yearly financial report as at 30th June 2018 today.
The figures, regarding the Group's consolidated financial statement, show a total revenue of 77.3 million euros, an increase on the same period of the previous year (71.3 million as at 30th June 2017).
Operating earnings were also positive: calculated at EBITDA1 level, they show a value of 17 million Euros (compared to the 16.6 of the first half of 2017).
Any comparison with the figures of the previous year must take into consideration some changes in the corporate structure (in March 2018, US stand design and fitting company FB International Inc. became part of the IEG group) and above all the absence, in 2018, of two important expos which were held in the first half of 2017 (A.B. Tech Expo, held in Rimini every three years, and Koinè, held every two years in Vicenza).
On the basis of the results achieved and the forecasts regarding the expos scheduled to be held in coming months, the Company's management is confident of achieving the growth and profitability targets forecast by last year's budget.
IEG: FOCUS ON
The Italian Exhibition Group (IEG) is the Italian leader for number of trade expos organized and one of the main players in Europe in the expo and conference sector, with its venues in Rimini and Vicenza. The IEG Group stands out for the organization of events in five categories: Food & Beverage; Jewellery & Fashion; Tourism, Hospitality & Lifestyle; Wellness & 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 2017 financial year with a total consolidated turnover of 130.7 million euros, an EBITDA of 23.2 million and a net consolidated profit of 9.2 million euros. In 2017, in its expo and conference venues in Rimini and Vicenza, IEG hosted an overall total of 50 expos and 206 conferences. www.iegexpo.it
ITALIAN EXHIBITION GROUP SPA PRESS CONTACTS
Elisabetta Vitali, head of media & corporate communication IEG, email@example.com
1 EBITDA is represented by the operating results (earnings) before interests, taxes, depreciation and amortization. EBITDA is an indicator defined and used by the Group to monitor and assess the Group's operating performance, but is not defined in this context by the IFRS; so it must not be considered as an alternative indicator for the assessment of the performance of the Group's operating result. The company considers the EBITDA to be an important parameter for assessment of the Group's performance, as it enables to analyze its marginality, eliminating the effects due to non-recurrent economic elements. Since the EBITDA is not an indicator whose determination is regulated by the reference accounting standards for drawing up the Group's consolidated financial statement, the criterion applied for the calculation of the EBITDA might not be homogeneous with that adopted by other groups, so might therefore not be comparable.