Friday, 07 December 2018
ITALIAN EXHIBITION GROUP STRENGTHENS ITS GROWTH AS AT 30 SEPTEMBER 2018
A consolidated revenue of 111.8 million euros (91.7 million as at 30th September 2017), EBITDA of 22.3 million euros and EBIT of 14.2 million (respectively 16.5 million and 9.4 million as at 30th September 2017)
At the press conference today, Italian Exhibition Group (IEG) communicated its results as at 30th September 2018.
The figures, regarding the Group´s consolidated financial statement, show a total revenue of 111.8 million euros, an increase of 22% on the same period of the previous year (91.7 million as at 30th September 2017).
The operating results were also positive and, as far as EBITDA1 is concerned, show a value of 22.3 million euros (compared to the 16.5 million at the end of Q3 2017), while at EBIT level they stand at 14.2 million (compared to 9.4 million as at 30th September of the previous year).
The comparison with the figures of the previous year must take into consideration some changes in the corporate structure (in March 2018, FB International Inc. became part of the IEG group, as did Prostand and Colorcom from September 2018, all companies trading in the stand fitting sector) and the absence, in 2018, of two important expos which were held in the first half of 2017 (A.B. Tech Expo in Rimini, held every three years, and Koinè in Vicenza, held every two) and, on the other hand, the presence in the third quarter of 2018 of the biennial Tecnargilla expo.
On the basis of the results achieved and forecasts regarding activities scheduled for coming weeks, the Company´s management confirms its forecast of fully achieving the growth and profitability targets foreseen by the budget of the current year.
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
Elisabetta Vitali, head of communication & media, firstname.lastname@example.org
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.