Monday, 18 November 2019
OROAREZZO AND GOLD ITALY SET A COURSE FOR ITALIAN EXHIBITION GROUP
IEG´s proposal to bring forward the option of buying the two shows has been approved by Arezzo Fiere e Congressi. President Cagnoni: ´A transaction for customers and the market. We are open to a more extensive collaboration with the Tuscan trade show system´.
Rimini, 18th November 2019 – Intense days on the international front for Italian Exhibition Group (IEG) with the closure of the VOD Dubai International Jewellery on Saturday and attendance in Bahrein until Wednesday as the Platinum Sponsor at the world congress of its jewellery industry partner, CIBJO, the world jewellery Confederation.
Intense days on the national scene too where, on 15th November last, the Arezzo Fiere e Congressi S.r.l. Shareholders´ Meeting welcomed Italian Exhibition Group´s proposal to bring forward the period of operation set for the option to purchase the OroArezzo and GoldItaly shows. IEG, a listed company on the Milan Stock Exchange organized and managed by Borsa Italiana S.p.A, leader in the organization of trade show events and one of Europe´s top operators in the trade show and congress sector, will therefore soon be acquiring the two aforementioned events, which is has already been managing since 2017.
´OroArezzo´ takes place every year in April and is the international show that promotes the best of Made in Italy gold and jewellery production. The trade show is instrumental for wholesalers, chain stores and top retail brands in terms of planning annual purchases and spring re-stocking. It is an international trade show for demand whose strong points are creativity and speedy delivery.
´GoldItaly´, which is held every year in October, favours the encounter between the best manufacture from the Italian gold districts and international buyers through an exclusive international business workshop formula based on a careful segmentation of the products on display and accurate guest buyer profiling.
By exercising the option, IEG also advances its own leadership consolidation in the gold and jewellery sector. In fact, with OroArezzo and Gold Italy, IEG will be adding two splendid products to its calendar of proprietary events which already includes Vicenzaoro January, T-Gold, Vicenzaoro September, VOD Dubai International Jewellery Show and other international appointments. The purchase value of these assets and trade show rights has been set by a fixed component of Euro 3,494,000 and a variable component, which could reach a maximum value of Euro 956,000.
´It is a transaction for the Customers and for the market,´ explains Lorenzo Cagnoni, President of IEG. ´We have been upholding the principle of a single management for years, which is highly important for getting results both at Vicenza and Arezzo. We have outlined this aim from the very beginning. During these last three years of collaboration we have been sizing up the value in the field and we are now fully aware of undertaking an extremely valid operation in business terms. The first with a Tuscan trade show. And I hope it can become – as long as the mutual objectives are met, of course – an even more extensive collaboration operation with a larger regional trade show system. We are always very open to verifying concrete feasibility. Those who know us can affirm that we are not afraid of tackling questions rapidly.´
According to Marco Carniello, IEG´s Group Brand Director Jewellery & Fashion: ´Having the brand leaders of sector trade shows under the one umbrella means being able to direct them with linearity and clear positioning to the benefit of both the companies and the buyers. Arezzo is one of Europe´s leading districts in the production of high volumes of quality jewellery. Oroarezzo and Gold Italy are in line with this historical and territorial background. Their timing is also in line because traders need a jewellery event in spring and autumn in a place that has been hosting them for over forty years. Two events of reference for global exports that, with precise and targeted positioning, speak loud and clear to the right buyers´.
In the first six months of 2019, exports in the Arezzo gold district recorded an increase of +11.4%, contributing to the overall national figure of 28.9% (+14.8% to the United Arab Emirates, Arezzo´s primary market outlet). With a value of over 1 billion (1,051.8 million) Euros in the first semester alone, the Arezzo district holds first place in Italy and Europe for gold and jewellery exports. In the 12 months of 2018, the area touched on 2 billion Euros*.
FOCUS ON ITALIAN EXHIBITION GROUP SPA
Italian Exhibition Group (IEG), listed on the Milan Stock Exchange 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. The IEG Group stands out for the organization of events in five categories: Food & Beverage; Jewellery & Fashion; Tourism, Hospitality & Lifestyle; Wellness, Sports 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 events in its Rimini and Vicenza expo and conference venues. 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.