Fiera Milano

Results as of 31 March 2024

13 May 2024

TODAY'S SPEAKERS

FRANCESCO CONCI

MASSIMO DE TULLIO

VINCENZO CECERE

CEO & General Manager

CFO

Head of IR & 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 Fiera Milano

Group Planning & Control Director at Fiera

IR & ESG Manager at Cerved Group, M&A

Congressi, Marketing Director of Fiera

Milano, CFO at Fiat Chrysler Automobiles

and Equity Capital Markets Associate at

Milano

UK and Belgium

Mediobanca

AGENDA

01 SUMMARY

04

ESG UPDATE

EXECUTIVE

02 BUSINESS REVIEW

Appendix

03 FINANCIAL REVIEW

EXECUTIVE SUMMARY

STRONG SET OF

OPERATIVE

KPI

FINANCIAL

RESULTS

KEY

HIGHLIGHS

2024

GUIDANCE

EXECUTIVE SUMMARY

  • 16 exhibitions in Q1 2024 (15 in Italy and 1 abroad; 6 organized and 10 hosted) vs. 14 exhibitions in Q1 2023
  • 29 congresses (of which 7 with related exhibition area) vs. 30 congresses in Q1 2023
  • 361,370 sqm occupied (346,160 sqm Italy, 4,105 sqm abroad and 11,105 sqm conferences with related exhibition area) vs.

256,880 sqm in Q1 2023

REVENUES

EBITDA

NET INCOME

NET CASH

€m

continuing operation

+15,7m

+24.2m

+16.8m

7,6

-3.3m

-8,1

25,7

72,4

Q1 2023

Q1 2024

80,8

*

48,1

* Q1 23 does not include €16.5m of Tuttofood transaction

8,9

-0,8m

77,6

8,4

7,6

Q1 2023

Q1 2024

Q1 2023

Q1 2024

** Q1 2023

Q1 2024

At 31 Dec

At 31 Mar

** Q1 23

includes €16.5m of Tuttofood transaction

2023

2024

  • Quarterly YoY growth driven by a balanced mix of performance effect and positive calendar effect, due to the biennial MCE Mostra Convegno Expocomfort with 86k sqm occupied in March 2024
  • Net of MCE, annual Italian Organized exhibitions registered a quarterly YoY revenue growth of over 31% (ex. services), while annual Italian Hosted exhibitions saw a quarterly YoY revenue growth of + 13% approx. (ex. services)
  • Strong like-for-likegrowth of services in Q1 2024 with + 26% in revenues (net of MCE), compared to Q1 2023
  • Starting from excellent FY 2023 results, the 2024 EBITDA guidance of €65-75mis confirmed, in light of the positive Q1 2024 results and the visibility of the expected performance of the events scheduled for the rest of the year

BUSINESS REVIEW

SNAPSHOT OF DIVISIONAL RESULTS - LEGAL ENTITIES VIEW

A

B

C

A

+

B

+

C

Italian Exhibition business

Q1 2023

Q1 2024

Δ (€)

Revenues (€m)

40,5

64,7

+24,1

EBITDA (€m)

7,6

23,1

+15,4

N. exhibitions

13

15

o/w directly organized

5

5

o/w hosted

8

10

Square meters Italy

230.335

346.160

Foreign Exhibition business

Q1 2023

Q1 2024

Δ (€)

Revenues (€m)

0,9

0,9

n.m

EBITDA (€m)

-0,6

-0,2

+0,4

N. Exhibitions

1

1

o/w directly organized

1

1

Square meters abroad

3.855

4.105

Congresses (Allianz MiCo)

Q1 2023

Q1 2024

Δ (€)

Revenues (€m)

8,8

9,3

+0,5

EBITDA (€m)

1,9

2,8

+0,9

n. congresses

30

29

o/w with exhibition area

11

7

Square meters exhibition areas

22.690

11.105

N.M. = not meaningful

Fiera Milano

Consolidated

Q1 2023

Q1 2024

Δ (€)

Revenues (€m) (net of Elisions)

48,1

72,4

+24,2

EBITDA (€m)

8,9

25,7

+16,8

EBITDA Margin %

18,4%

35,5%

N. Exhibitions

14

16

o/w directly organized

6

6

o/w hosted

8

10

Square meters consolidated

(A+B+C)

256.880

361.370

87%

1%

12%

  • Revenue growth of + 60% primarily due a strong performance of annual events in both exhibition space and services and positive calendar effect with MCE
  • EBITDA growth largely attributed to the positive revenue trends, combined with:
    • Lower energy costs vs. Q1 2023
    • Increased personnel expenses due to a new hiring program following the 2024-2027 Strategic Plan execution
  • Revenues of €0,9m in Q1 2024 (in line with Q1 2023), primarily related to the ICTAF 2024 contemporary art show organized by the South African subsidiary
  • No exhibitions scheduled in Brasil and China in Q1 2024 led to a negative EBITDA, despite the positive EBITDA contribution from the joint venture with Deutsche MESSE AG, primarily through the "representative business", involving the promotion of Chinese collectives at events in Germany and Italy
  • Revenue growth of + 6% primarily driven by events such as the Zurich convention, the Oracle CloudWorld Tour Milano, the EBCC - European Breast Cancer Conference, and the FIF (professional physiotherapy expo). This growth was somewhat offset by the absence of the EAU (European Association of Urology) conference, taking place in Q1 2023
  • EBITDA growth of + 52% largely attributed to the positive revenue trends and reduced energy costs vs. Q1 2023

At consolidated level:

▪ REVENUE GROWTH OF + 50%

  • SIGNIFICATIVE EBITDA GROWTH
  • IMPROVED EBITDA MARGIN, REACHING 35,5% IN Q1 2024

7

REVENUE GROWTH CONTRIBUTION - BUSINESS LINE VIEW

+ €24,2m

€48,1m

€72,4m

3%

2%

2%

4%

39% *

11%

5%

12%

42% *

2%

30%

16%

2%

26%

36%

32%

17%

19%

Q1 2023

Organized

Hosted

Physical services

Digital,

Congresses

Other

Q1 2024

data

e media

Organized

Physical services

Congresses

Hosted

Digital, Data,Media

Other (Education, services outside the venue...)

8

* Includes the contribution of MCE - Mostra Convegno Expocomfort, held in March 2024

FIERA MILANO Q1 2024 SQM GROWTH CHAMPIONS

SELECTED ITALIAN EXHIBITIONS

ORGANIZED

HOSTED

SQM (k)

SQM GROWTH %

Q1 2024/ last edition

+

27

16

+70%

Q1 2023

Q1 2024

17

16

+7%

Q1 2023

Q1

2024

5

3

+61%

Q1 2023

Q1 2024

SQM (k)

78 86

Q1 2022

Q1 2024

38 46

Q1 2023

Q1 2024

25 31

Q1 2023

Q1 2024

SQM GROWTH %

Q1 2024/ last edition

+11%

+21%

+27%

ALL

Organized

62

ALL

48

+30%

Hosted

Q1 2023

Q1

2024

284

183

+56%

Q1 2023

Q1 2024

9

FINANCIAL REVIEW

Attachments

Disclaimer

Fiera Milano S.p.A. published this content on 13 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 May 2024 19:26:01 UTC.