Fiera Milano

Results as of 31 December 2023

13 March 2024

TODAY'S SPEAKERS

Francesco Conci

Massimo De Tullio

Vincenzo Cecere

CEO

CFO

HEAD OF IR &

& GENERAL MANAGER

SUSTAINABILITY

> 20 years in Fiera Milano

6 years in Fiera Milano

2 year in Fiera Milano

▪

Relevant experience:

▪ Relevant experience:

▪

Relevant experience:

▪

CEO and General Manager of

Group Planning & Control Director

▪

Investor Relations & ESG Manager at

Fiera Milano Congressi,

at Fiera Milano, CFO at Fiat

Cerved Group, M&A and Equity

Marketing Director of Fiera

Chrysler Automobiles UK and

Capital Markets Associate at

Milano

Belgium

Mediobanca

AGENDA

Executive summary: a year of strong growth exceeding expectations

Business review

Financial update

ESG commitment

Appendix

3

EXECUTIVE SUMMARY: a year of strong growth…

STRONG SET OF

OPERARTIVE

RESULTS

  • 73 exhibitions (44 in Italy and 29 abroad; 43 owned and 30 hosted)
  • 132 congresses (of which 55 with related exhibition area)
  • 1,882,180 sqm occupied (1,292,070 sqm Italy, 501,240 sqm abroad and 88,870 sqm congresses with related exhibition area)

€m

REVENUES

+63.5m

+29%

283.8

EBITDA

NET

INCOME

NET CASH

+38.7m

+51.2m

+51.1m

+66%

97.1

80.9

OUTSTANDING 2023 GROWTH

220.3

2022 2023

45.5

58.4

29.8

-5.8

At 31 Dec

At 31 Dec

2022

2023

2022

2023

2022

2023

KEY MESSAGES

  • Double digit growth for Revenues (+29%) and EBITDA (+66%) compared to 2022
  • Record-breakingNet Income of €45.5 (+ €51m increase compared to 2022)
  • High cash generation of €51m at year-end, leaving room for dividends and M&A
  • Proposal of €0.14 dividend per share (Shareholders' Meeting on 23 April 2024)

4

4

…exceeding expectations

EXCEEDING BOTH

GUIDANCE AND

CONSENSUS

2023

REVENUES

284

+€7m

(vs. mid-point)

277

275-280

Consensus

Guidance

Actual

2023

EBITDA

97

+€9m

(vs. mid-point)

88

85-90

Consensus

Guidance

Actual

2023

NET CASH

+€23m

81

(vs. mid-point)

61

55-60

Consensus

Guidance

Actual

  • Surpassed previous Revenue guidance of approximately €7 million, primarily driven by a very strong Q4 performance of HOST, EICMA, and the ECTRIMS congress (multiple sclerosis related congress)
  • Exceeded previous EBITDA guidance by approx. €9 million, primarily due to the higher Revenue contribution, cost-savinginitiatives, and improved performance in China
  • Outperformed previous Net Cash guidance by €23 million, mainly attributable to the higher EBITDA contribution and improved net working capital dynamics

5

...confidence on 2024 ahead of 2024-2027 Strategic Plan launch

2024

PREVIEW

NEW STRATEGIC

PLAN

2024-2027

ON APRIL 8TH

  • Building on strong 2023 results and positive feedback from planned 2024 events, we are optimistic about our financial outlook for the current year. Despite the less favorable calendar seasonality of even years, we expect
    EBITDA to range between €65 -75mby 31 December 2024
  • 2024 will see the return of the major itinerant event CPHI (> 100k sqm expected; twice the size of the last edition), confirming Fiera Milano's ability to attract large international events and the biennial MCE - Mostra Convegno Expocomfort (> 80k sqm expected)
  • The upcoming Strategic Plan 2024-2027 presentation on 8 April 2024, will be a pivotal moment to articulate Fiera Milano medium-to-long-termstrategic vision and outline development initiatives for the coming years

BUILDING

MOMENTUM WITH

ESG AT THE

FOREFRONT

...with ESG always at the top of the agenda

  • Defined a new Sustainability Plan, integrated in the Strategic Plan 2024-2027
  • Established quantitative GHG reduction targets for 2027 and 2030 in the Decarbonization Plan 2030
  • Expansion of the photovoltaic system (26k panels) with the aim of reaching a capacity of 17 MWp by 2024 (generating 20-25%energy purchasing from renewable sources)
  • Approved the new Sustainability Report 2023 (to be released on 29 March 2024)
  • Fiera Milano awarded with the "Sustainability Award Top ESG score"

6

AGENDA

Executive summary: a year of strong growth exceeding expectations

Business review

Financial update

ESG commitment

Appendix

7

SUMMARY OF DIVISIONAL RESULTS

€m

REVENUES1 (€m)

EBITDA (€m)

SQUARE METERS (k sqm)

€m

REVENUES 1

(€m)

EBITDA (€m)

SQUARE METERS (k sqm)

ITALIAN EXHIBITION BUSINESS

2019

2020

2021

2022

2023

246.4

70.0

103.0

176.8

241.3

91.4

11.3

61.4

44.5

79.7

1,462

343

593

1,149

1,292

CONGRESSES

2019

2020

2021

2022

2023

39.7

5.7

23.0

43.3

47.0

11.3

0.0

15.4

13.5

13.4

72

8

50

90

88

2023 GROUP'S REVENUES %

83%

16%

REVENUES (€m)

EBITDA (€m)

SQUARE METERS (k sqm)

FOREIGN EXHIBITIONS BUSINESS

2019

2020

2021

2022

2023

4.3

1.2

0.2

8.7

3.9

3.3

(0.8)

0.3

0.3

4.0

511

287

310

175

501

1%

1) Gross Revenues before intercompanies

8

ITALIAN EXHIBITION BUSINESS: STRONG PERFORMANCE AND POSITIVE CALENDAR EFFECT

€m

REVENUES1 (€m)

EBITDA (€m)

SQUARE METERS (k sqm)

2019

2020

2021

2022

2023

246.4

70.0

103.0

176.8

241.3

91.4

11.3

61.4

44.5

79.7

1,462

343

593

1,149

1,292

▪

Revenues up to €241.3m in 2023 (+€64.5m vs. 2022; +36%

growth)

▪

Reached 98% of 2019 pre-pandemic levels

▪

Growth driven by a favorable trade fair calendar (biennial

Host with 128k smq, multi-yearITMA with 122k sqm, Plast

with 49k smq) and a strong performance of fashion events

(Milano Unica, LineaPelle, The Micam, HOMI Fashion&Jewels)

n. exhibitions

2023 Group's Revenues %

2019-2023

50

44

FIGURES

52

83%

21

30

2019

2020

2021

2022

2023

>2.8M

VISITORS

▪

Increase in net occupied areas (+12% vs 2022) and higher

service sales strongly contributed to revenue growth

▪

New exhibition launched (GEE-Global Elevator Exhibition;7k

sqm) and new exhibition hosted (ISSA Pulire;14k sqm)

▪

EBITDA up to €79.7m in 2023 (+€35.1m vs. 2022; +79%

growth) tracking revenue growth

▪

Positive impact from Fiere di Parma subsidiary (equity

method accounted; > €1m EBITDA contribution)

▪

Partially offset by higher costs: energy (+c.€5m vs.2022),

one-off personnel costs related to reorganization (+€3m

vs.2022)

1) Gross Revenues before intercompanies

9

NEW EXHIBITION FORMATS: MIBA - SYNERGISTIC SUPPLY CHAIN ALLIANCES

INDUSTRY

SQM

EXHIBITORS

GEE*

Vertical transport

7k

120

MADE

Building/ Construction

33k

645

SBE

Building automation

3k

70

Sicurezza

Security

17k

205

  • New exhibition formats that bring together entire supply chains in the same event with the aim of creating synergies between operators
  • Exhibitors and visitors meet complementary production ecosystems
  • New exhibition model that acts as a business multiplier
    • GEE is the new event on elevators and escalators launched by Fiera Milano in nov-2023
    • 7k sqm and 130 visitors

*1st edition

10

Attachments

Disclaimer

Fiera Milano S.p.A. published this content on 13 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 March 2024 17:06:01 UTC.