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International
Italian Exhibition Group First Quarter 2022 Exceeds Expectations
5/16/2022
RIMINI (Italy) - IEG - Italian Exhibition Group, a company listed on Euronext Milan, closed the first three months of 2022 brilliantly. Just recently, in fact, IEG's Board of Directors approved an interim management report at 31st March 2022 that exceeded expectations. Revenues amounted to EUR 38 million, an increase of EUR 35.6 million compared to the first quarter of 2021 during which events had only taken place in digital format due to the pandemic. According to Corrado Peraboni, CEO of IEG: “The participation recorded during the events of this first quarter and the results achieved, both in terms of volume and in maintaining the pricing applied, suggest that we can put the darkest period of this pandemic, which dealt a severe blow to trade shows all over the world, behind us. In March, we organised international trade fairs of primary importance for the Group, such as Vicenzaoro and Sigep, standard-bearers of Made in Italy in the world for jewellery and food respectively. The figures show that we were able to look beyond in order to achieve our objectives and further growth.” The Group's EBITDA, equal to EUR 7.0 million, is also on the rise: + EUR 14.2 million compared to the same quarter in 2021 when it recorded a loss of EUR 7.2 million. “The coming months,” Peraboni adds, “will see the successive staging of every event in IEG's portfolio, including the biennial events, and this is yet another good sign.” Upcoming events include RiminiWellness, TTG Travel Experience and Ecomondo. The congress area also performed well: in the first quarter of 2022, 12 congresses were held at the two venues of Rimini’s Palacongressi and the Vicenza Convention Centre, generating joint revenues of 1.5 million euros and showing a recovery of 1.3 million euros compared to the same period in 2021. FOCUS ON ITALIAN EXHIBITION GROUP Italian Exhibition Group S.p.A., a joint stock company listed on Euronext Milan, a regulated market organised and managed by Borsa Italiana S.p.A., has, with its facilities in Rimini and Vicenza, achieved national leadership over the years in the organisation of trade shows and conferences. The development of activities abroad - also through joint-ventures with global or local organisers, in the United States, United Arab Emirates, China, Mexico, Brazil and India, for example – now sees the company positioned among the top European operators in the sector. www.iegexpo.it This press release contains forecast elements and estimates that reflect the management’s current opinions (“forward-looking statements”), particularly regarding future management performance, realization of investments, cash flow trends and the evolution of the financial structure. For their very nature, forward-looking statements have a component of risk and uncertainty, as they depend on the occurrence of future events. The effective results may differ (even significantly) from those announced, due to numerous factors, including, only by way of example: food service market and tourist flow trends in Italy, gold and jewellery market trends, green economy market trends; the evolution of raw material prices; general macroeconomic conditions; geopolitical factors and evolutions in the legislative framework. Moreover, the information contained in this release, does not claim to be complete, and has not been verified by independent third parties. Forecasts, estimates and objectives contained herein are based on the information available to the Company as at the date of this release. Contact: questions@exhibitormagazine.com |
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