Monday, 13 May 2019
ITALIAN EXHIBITION GROUP (IEG) ENDS THE FIRST QUARTER WITH A RISE IN ALL ECONOMIC INDICATORS
- Following a 2018 financial year with a double-digit increase, IEG´s main economic indicators as at 31st March 2019 have also grown considerably: 67.3 million euros revenue and 24.3 million EBITDA1 (respectively an increase of 26.8% and 30.4% on the same period of the previous year)- IEG´s international schedule covers 3 continents and 14 countries: activities in the Food, Tourism, Circular Economy and Jewellery worlds
Rimini, 13th May 2019 - Business and internationalization. Italian Exhibition Group (IEG) is growing in every sector. The rises on 2017 were confirmed recently by the 2018 financial statement figures, with double-digit growth: 10.8 million euros net profit (+17.9%), over 159.7 million euros of consolidated turnover (+22.7%), a gross operating margin (EBITDA1) that reached 30.8 million euros (+32.6%) and a gross dividend of 18 euro cents per share.
Following up on this growth, IEG ended the first quarter with a rise in all economic indicators: 67.3 million euros revenue and 24.3 million EBITDA1 (respectively an increase of 26.8% and 30.4% on the same period of the previous year). The aforementioned EBITDA does not take into consideration the positive effects due to the application of the new IFRS 16 Leasings accounting principle.
The results are due to the good trend of the expos organized directly, positive integration of the group´s activities, above all in the stand fitting sector, and companies acquired in 2018.
IEG WORLDWIDE WITH ITS EXPERTISE IN TOURISM, CIRCULAR ECONOMY, FOOD AND JEWELLERY
In 2019, Italian Exhibition Group´s international business is travelling the world, crossing 3 continents and 14 countries.
The first stop, in March, was in Western China, in Chengdu, for CDEPE the large environment expo, thanks to the expertise of Ecomondo, the sector´s leader in Europe. In April on the other hand, IEG faced the new challenge of the Shanghai World Travel Fair, one of Chinese tourism´s major events, co-organized by the Shanghai Municipal Administration of Culture & Tourism and Europe Asia Global Link Exhibitions (EAGLE) - the joint-venture established by Italian Exhibition Group and VNU Exhibitions Asia.
At the beginning of autumn, the Group will again fly to Asia, once more to Chengdu, for the Travel Trade Market that addresses the inbound and outbound Chinese tourism sector.
Precisely in this month of May, promotion is continuing for the artisan gelato supply chain, a chain in which IEG is the absolute leader, thanks to SIGEP, with Gelato Festival: along with Carpigiani Gelato University, SIGEP will visit Barcelona, Okinawa, Berlin, Boston, Warsaw, Vienna Baden, London, Chicago, Yokohama GWT, Washington DC and West Hollywood Los Angeles.
With the Vicenzaoro project, after a first date in March at T-Gold International + Mets in Hong Kong, from 31st May to 3rd June, Las Vegas will host the launch for IEG of PREMIER, the new event exclusively dedicated to Italian Jewellery, and its participation in the great COUTURE Designer Fine Jewellery Trade Las Vegas. For both events, Italian Exhibition Group has inked an agreement with American trade fair giant Emerald LLC (EEX). Then, in August, IEG will be in Mumbai, India, with T-Gold International, and in the United Arab Emirates in November 2019 with VOD Dubai International Jewellery Show.
In the picture enclosed with this email: Lorenzo Cagnoni President of Italian Exhibition Group and Ugo Ravanelli CEO of Italian Exhibition Group.
FOCUS ON ITALIAN EXHIBITION GROUP SPA
Italian Exhibition Group (IEG) is the Italian leader in the organization of expos 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 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 2018 financial year with a total consolidated turnover of 159.7 million euros, an EBITDA of 30.8 million and a net consolidated profit of 10.8 million euros. In 2018, IEG held an overall total of 53 exhibitions organized or hosted and 181 conferences and events in its expo and conference facilities in Rimini and Vicenza. www.iegexpo.it
1 The 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.