ITALIAN EXHIBITION GROUP S.P.A. March 19th 2024
Financial Results FY23
Analyst Call
Agenda
01. | Corrado Peraboni | Business Performance |
CEO | ||
02. | Martina Malorni | Financial Performance |
Investor Relator | ||
Section 01
Business Performance
Corrado Peraboni
CEO
- Business Performance
- Financial Performance
01. Business Performance
Financial Results FY23
FY23 - results highlights
FY23 - Record Revenues, improved profitability and cash generation
Record Revenues (+32.4%) with sound growth across all business lines driven by organic expansion (+22%) and «Restart» effect (+8.8%)
Adj. EBITDA Margin at 23.3% (+12.1 pp vs FY22) driven mainly by Volumes, but also by Price effect and Restart
Net Result at 13.3 M€ at 6.3% of Revenue
Net Financial Position at 71.9 M€ decreasing by 23.4 M€, thanks to cash generation improvement vs FY22. Monetary NFP at 28.7 M€ (vs 58.8 M€ in 2022).
FY 2023 Results
REVENUES ADJ. EBITDA ADJ. EBIT NET RESULT
€ 212.4 | € 49.5 | € 31.6 | € 13.3 |
+32.4% | 23.3% | 14.9% | 6.3% |
(+12.1 pp) | (+13.5 pp) | (+6.8 pp) | |
4Q 2023 Results | |||
REVENUES | ADJ. EBITDA | ADJ. EBIT | NET RESULT |
€ 62.7 | € 15.7 | € 9.8 | € 3.7 |
+12.3% | 25.1% | 15.7% | 5.9% |
(+5.1 pp) | (+0.8 pp) | (-8.6 pp) | |
Net Financial Position € 71.9
4
01. Business Performance
Financial Results FY23
FY23 revenues by Business segments
FY23 Revenues by line of Business
Organized Events | 57% |
Number of Events | |||||
#182 | +9 | ||||
#173 | |||||
6 | |||||
8 | |||||
212.4 M€ | Services | 30% | ||
FY23 Revenues | Congress | 9% | ||
126
122
Hosted Events | 2% | ||
Publishing, Sport & Others | 2% | ||
10 | ||||||||||||
10 | ||||||||||||
40 | ||||||||||||
33 | ||||||||||||
FY 23 | FY 22 | |||||||||||
Organized Events | Services | Congress | Other Events | |||||||||
Organized Events boost Revenues' growth (+7 events vs FY22) both in Italy and abroad (+35.4 M€);
Congress full recovery (+4 events vs FY22) (+4.5M€)
5
01. Business Performance
Financial Results FY23
4Q23 Business Update
60th edition, closed
+19% of professional visitors compared to 2022
2,700 exhibiting brands and thousands of foreign buyers from 62 countries (58% from
Europe and 42% from the rest of the world, of which 15% from the USA)
TTG brought 55 international destinations to Rimini.
. 26th edition, closed
+15% more attendance than in 2022
150,000 square metres for more than 1,500 exhibiting brands, up 10% compared to last year
Over 630 international foreign operators were hosted thanks to the collaboration of ITA - Italian Trade Agency, the Ministry of Foreign Affairs and International Cooperation
Achieved excellent results in the fitness and wellness segment thanks to the events organized in Brazil and Dubai
515 exhibitors and 86,000 trade visitors in the two events
A record edition for Dubai Muscle Show, Dubai Active and Dubai Active Industry with the world´s leading brands in attendance from 40 countries.
ESG
In December, IEG obtained the Gender
Equality Certification.
The recognition is the result of human capital management policies aimed at supporting female employment. The Company's objective is to ensure that all qualified individuals, regardless of gender, are offered equal opportunities.
6
01. Business Performance
Business Update (M&A)
Financial Results FY23
Acquired the Food
- Jewelry trade shows from CEMS
IEG opened its own
regional headquarters
in Singapore and
acquired two strategic
trade shows in the
luxury and food
segments, Singapore International Jewelry Expo and Cafè Asia, Sweet and Bakes Asia, Restaurant Asia.
Acquired 100% of
Mundogeo Eventos
- Consultoria Empresarial Ltda
2023
A trade fairs and online events organizer in the space industry, eVTOLs, drones, autonomous robots
and geotechnology,
expanding Group portfolio in Latin
America.
Acquired 51% of
A&T S.r.l.
The company,
founded in 2007, is the owner of A&T - Automation & Testing, an event dedicated to Innovation and Industrial
Technologies in a 4.0
perspective.
Acquired the Food
- beverage trade shows from
Montgomery Asia
'Speciality Food &
Drinks Asia', 'Food2Go
(Singapore)' and
'Speciality Coffee & Tea' are some of the events organised by Montgomery Events Asia Pte Ltd. The acquired events increase the offerings of the Food & Beverage segment.
Acquired 51% of
Palakiss S.r.l.
2024
Palakiss S.r.l. is an
internationally known
goldsmith center
located in Vicenza which since 1999 has organized four annual events. The acquisition aims to
strengthen the sectoral
specialization of the goldsmith industry by the IEG Group
7
01. Business Performance
Business Update March 2024
Financial Results FY23
Strategic Plan 2023-2028
The BoD approved the Strategic Plan 2023-2028, which was updated to take into account the
important results achieved by the IEG Group during the 2022 and 2023 financial years.
Strategic pillars:
Portfolio growth
Consolidation of international expansion
Value creation
ESG
IEG has decided to integrate IEG's
ESG Strategy into the Strategic Plan
2023 - 2028:
15 concrete and measurable goals to guide IEG's commitment to the environment, people and the communities in which it operates.
The objectives of the ESG Strategy were built around emerging sustainability trends in the sector and in the communities in which IEG operates.
The ESG commitment is an enabling and indispensable lever to accelerate and strengthen
economic performance, positioning IEG as a leader and innovator in the sector.
1H-24 Organized
Events Booking vs Target
101%
Net SQM
102% ISF REV*
* Revenues deriving from sale of areas and subsequently certified. It doesn't include revenues deriving from other type of offers, most of wich achieved close to the event.
8
Section 02
Financial Performance
Martina Malorni
Investor Relator
- Business Performance
- Financial Performance
02. Financial Performance
Financial Results FY23
FY23 Income Statement
Revenues
At 212,4 M€, +32.4% vs FY 2022 driven mainly by organic growth (+35.5M€) and 'Restart' from pandemic (+14.1 M€), new perimeter (+7.3 M€)
Contribution margin
At 90.8M€, +68.4% improving vs FY22 thanks to volume despite inflation
Adjusted EBITDA
At 23.3% (+12 pp YoY), mainly thanks to volume and partially to positive pricing
Adjusted EBIT
At 14.9% (+13.5 pp YoY), at 31.6 M€, improving by 29.4 M€ back to normalized activity
Net Result
At 13.3 M€ (6.3%), back to profitability, improving by 14.2 M€
FY 2023 | % | FY 2022 | % | Var. | % | |||||||
Revenues | 212.4 | 160.4 | 52.0 | +32.4% | ||||||||
Operating costs | (121.6) | -57.3% | (106.5) | -66.4% | (15.1) | +14.2% | ||||||
Contribution Margin | 90.8 | 42.7% | 53.9 | 33.6% | 36.9 | +68.4% | ||||||
Personnel | (41.5) | -19.6% | (38.1) | -23.7% | (3.4) | +9.0% | ||||||
Not recurring EBITDA items | 0.3 | 0.1% | 2.2 | 1.4% | (2.0) | >100% | ||||||
Adjusted EBITDA | 49.5 | 23.3% | 18.1 | 11.3% | 31.5 | >100% | ||||||
D&A | (23.5) | -11.1% | (15.9) | -9.9% | (7.7) | +48.2% | ||||||
Not recurring EBIT items | 5.6 | 2.6% | 0.0 | 0.0% | 5.6 | >100% | ||||||
Adjusted EBIT | 31.6 | 14.9% | 2.2 | 1.4% | 29.4 | >100% | ||||||
Not recurring items | (5.8) | -2.8% | (2.2) | -1.4% | (3.6) | >100% | ||||||
Net Financials | (5.0) | -2.3% | 0.5 | 0.3% | (5.5) | <- | ||||||
100% | ||||||||||||
Profit before Tax | 20.7 | 9.8% | 0.5 | 0.3% | 20.3 | >100% | ||||||
Taxes | (7.4) | -3.5% | (1.3) | -0.8% | (6.1) | >100% | ||||||
Net Result | 13.3 | 6.3% | (0.8) | -0.5% | 14.2 | >100% | ||||||
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Disclaimer
Italian Exhibition Group S.p.A. published this content on 19 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 March 2024 16:31:08 UTC.
