ITALIAN EXHIBITION GROUP SPA: WITH OVER 4 MILLION EUROS IN 2016, TARGETS REACHED AND EXCEEDED

The Board of Directors of Italian Exhibition Group SpA (IEG), the company founded with the merger between Rimini Fiera and Fiera di Vicenza, approved the 2016 preliminary balance figures today.
Italian Exhibition Group SpA ended 2016 with a proforma1 preliminary turnover of 123 million euros (118.7 million was forecast), an EBITDA2 of 22.9 million (4% more than the forecast) and a consolidated net profit of approximately 6.6 million.
The Group´s net financial position, will reach 39.6 million euros compared to 40.6 at the beginning of the year: an exceptional result when considering that during 2016 14 million euros in dividends were distributed to shareholders, investment began for the extension of the Rimini expo centre (already sold-out for SIGEP 2017) and the last payments fell due for the construction of the new hall 7 at Fiera di Vicenza.

Overall in 2016, in the expo and conference venues in Rimini and Vicenza, IEG hosted a total of 59 exhibitions and 216 conferences and events, with the participation of 14,593 exhibitors and attended by almost 2.5 million visitors*.

These figures position IEG second among Italian trade fairs for turnover and first as far as the number of directly organized expos are concerned.

IEG president and managing director Lorenzo Cagnoni comments, ´A turnover showing an increase of over 4 million euros is a reason for particular satisfaction. I´d define it as really important, emphasizing the fact that it follows 2015 and 2014 results, which were already brilliantly positive. These are precise indicators of progress that is not only steady, but has gradually gone from strength to strength during the last three year and is opening up to very positive prospects for 2017. We have also set ourselves ambitious challenging targets for next year, which the combination of excellent features created with the launch of IEG will be able to support and reach.´

For IEG General Manager Corrado Facco, ´The first preliminary balance of Italian Exhibition Group – which recently combined the inheritance and history of two of the top companies on the Italian and international trade fair scenario – has very positive overall turnover and profitability parameters, confirming the industrial outlook that characterized the decision for the recent merger between the two companies. On the basis of these results, work is under way on drawing up the 3-year business plan, which will adopt the Group´s new strategic choices, focussed on growth – also by means of further operations of acquisition and cooperation – and on strengthening its leading position in the organization of international events, in Italy and worldwide, at the service of the best product chains.´


1 Pro-Forma balance is intended as the balance of Italian Exhibition Group SpA as if the merger between Fiera di Rimini and Fiera di Vicenza had effect from 1st January 2016 and therefore as if the balance of the profit and loss account expressed all the activity carried out by the two companies in the course of 2016. For the technical method used for the integration (the entry of Fiera di Vicenza in Rimini Fiera), the effective profit and loss account of the company shows the whole of 2016 for Rimini Fiera and the months of November and December for Fiera di Vicenza,

2 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 Groups´ operating results. 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 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.

(*) The leading Italian Exhibition Group SpA expos undergo certification, by the ISFCERT institute, recognized by ACCREDIA, according to ISO 25639:2008 ´Exhibition Terminology and Measurement´


FOCUS ON ITALIAN EXHIBITION GROUP SPA: Italian Exhibition Group SpA, the company founded with the merger between Rimini Fiera and Fiera di Vicenza, is helmed by president Lorenzo Cagnoni, vice president Matteo Marzotto and general manager Corrado Facco. IEG, which ended 2016 with a proforma preliminary turnover of 123 million euros, an EBITDA2 of 22.9 million and a net consolidated profit of approximately 6.6 million, is the second player in Italy for turnover volume, with over 60 expos – according to annual and biennial frequency - in its portfolio (regarding the Food & Beverage, Green, Technology, Entertainment, Tourism, Transport, Wellness, Jewellery e Fashion, Lifestyle & Innovation product chains), and 216 events and conferences. The company´s priority asset is favouring the internationalization of these sectors, which represent everything Beautiful and Well-made worldwide, starting off already with a solid worldwide presence, with a joint venture in the United Arab Emirates already and presences in the USA, China, India and South America. IEG is also national leader in the conference-convention sector. Overall in 2016, the expo and conference venues in Rimini and Vicenza hosted a total of 14,593 exhibitors, and were attended by almost 2.5 million visitors.

ITALIAN EXHIBITION GROUP SPA PRESS CONTACTS

Elisabetta Vitali - head of national media & corporate communication mediarimini@iegexpo.it

Patrizia Rovaris – head of international media & corporate communication mediavicenza@iegexpo.it


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