The president of the Italian Exhibition Group, Lorenzo Cagnoni, and Managing Director, Corrado Peraboni, hereby announce that the board of directors of Italy’s leading international trade show organizer, approve the consolidated financial statement and budget plan which will be submitted for approval at the shareholders’ meeting next June.
The Italian Exhibition Group’s total revenues for the 2019 financial period amounted to $196.4 million, showing a double-digit growth comparing to the $173.6 million in 2018. These results, despite a less favorable tradeshow calendar, which does not include the “Tecnargilla” and “IBE” shows, continue to follow the growth trend registered at the end of 2018 and are proof of the effectiveness of the two-fronted strategies enacted to develop products already in portfolio and to further extend along external lines.
The group’s core business, which consists of directly organizing tradeshows, represented 54.7 percent of overall revenues during the financial period with an organic growth that involved the main product leaders in the Food & Beverage, Jewelry & Fashion, Green & Technology, and Tourism & Hospitality categories, leading to a 6.7 percent increase in earnings (about $7.2 million). In 2019, compared to the same period in the previous year, the congress event business line, which represents 8.7 percent of overall earnings, experience significant growth of 19.1 percent comparing to 2018, mainly due to the larger congresses in terms of the number of participants, the amount of space required and additional services requested. Earnings from the correlated services business line, which involves exhibition set-up, catering and cleaning, amount to 32.4 percent of the group’s total revenues showing an increase of 39.2 percent compared to 2018.
The parent company, Italian Exhibition Group S.p.A., close its 2019 financial period with overall revenues of $135.7 million, an EBITDA of $39.3 million and a net profit of $15.2 million. In 2019, at its facilities in Rimini and Vicenza, as well as further premises in Milan and Arezzo, the Italian Exhibit Group staged and directly organized 48 or hosted tradeshows and 190 congress events.
The earnings before interest, taxes, depreciation, and amortization, or EBITDA, are measured by the operating profit (loss) including depreciation and amortization expense. The EBITDA is defined and used by the group to monitor and assess the operating performance of the group, but it is not defined in the context of IFRS standards; therefore it must not be viewed as an alternative measure for the assessment of the group’s operating result.
The Italian Exhibition Group believes the EBITDA is an important parameter for the measurement of the group’s performance as it allows them to analyze the profitability of the same by eliminating the effects deriving from non-recurrent economic elements. As EBITDA is not a measure whose determination is regulated by reference accounting standards for the preparation of the group’s consolidated financial statements, the criterion applied for the determination of the EBITDA could not be consistent with that adopted by other groups and might, therefore, not be comparable to them.
The Italian Exhibition Group (IEG), listed on the screen-based share market (MTA) organized and managed by Borsa Italiana S.p.A., is a leader in Italy in the organization of trade fairs and one of the main operators in the trade-fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in Milan and Arezzo. The IEG Group is notable in the organization of events in five categories: Food & Beverage; Jewelry & Fashion; Tourism, Hospitality, and Lifestyle; Wellness, Sport and Leisure and Green & Technology. For more info, visit www.iegexpo.it.