Fiera Milano closes the first quarter with a profit. Revenues at 48.1 million

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In the first three months of 2023 Fiera Milano recorded revenues of 48.1 million euros, up by 24.6 million compared to the first quarter of 2022. Ebitda was 8.9 million euros, an improvement of 11 .2 million euros compared to the first quarter of 2022 and the net result of 8.4 million euros, compared to the loss of 13 million euros recorded in the first quarter of 2022. At the end of March, the company had net cash of 37.5 million euros, an improvement compared to a net financial availability of 29.8 million at 31 December 2022.

«The first months of 2023 confirm the relaunch of our activities and a now consolidated restart – explains the managing director of the Milanese trade fair company, Francesco Conci -. The exhibitions that took place in the first quarter and the results in terms of participation and attendance demonstrate the appreciation of both exhibitors and visitors. All this confirms the centrality of trade fair events which play a fundamental role in the development of companies». In particular, Conci underlines the very positive results obtained by the events linked to the fashion system and the relaunch of the International Tourism Exchange. “We look to the future with confidence, aware that there are still some elements of uncertainty related to the macroeconomic context and international geopolitical scenarios – adds Conci -. Despite this, Fiera Milano continues to consider 2023 as a year of development and consolidation, expecting to reach an ebitda target of 70-80 million by the end of the year».

Good results from annual exhibitions and congresses

The positive change in revenues can be attributed to the good general performance of the annual exhibitions (12 held so far) and of the congress activity which, with 30 events held in the first quarter, returned to pre-Covid levels ahead of market forecasts . Revenues between January and March for this division amounted to 8.8 million euros, against 2.2 million in the same period of 2022. However, there is also a calendar factor that should not be underestimated in the decisive growth in revenues for the quarter: in fact, between January and March 2023 Mido (eyewear) and Bit (tourism) took place, two important events which, however, last year had been postponed to the following quarter, due to the resurgence of the pandemic in the first months of 2022 with the spread of the Omicron variant.

The strategic transaction with Fiere di Parma was also finalized during the quarter, following which Fiera Milano holds an 18.5% stake in the share capital of Fiere di Parma.