Fiera Milano Spa · MIL:FM
Fiera Milano Spa — Q1 2022 Earnings Presentation
20 slides from Fiera Milano Spa's earnings presentation, May 10, 2022
Slide 1: Fiera Milano
Fiera Milano The European hub for innovative, sustainable and high standing events Results to 31 March 2022 10 May 2022 1
Slide 2: Today's Presenters
Today’s Presenters Luca Palermo Andrea Maldi Vincenzo Cecere Chief Executive Officer Chief Financial Officer Head of Investor Relations & General Manager Sustainability ▪ > 1 year in Fiera Milano ▪ 1 year in Fiera Milano ▪ Recenly joined Fiera Milano ▪ Prior experience: Emerge ▪ Prior experience: Bo
Slide 3: Agenda
AGENDA 1. Executive summary 2. Business review 3. Financial review Appendix 1. Fiera Miano at a glance and FY 2021 results 2. Key investment highlights
Slide 4: Executive summary
Executive summary 2022 EBITDA guidance confirmed ▪ With 11 exhibitions held (e.g. HOMI, Promotion Trade Exhibition, Lineapelle, My Plant & Garden, Micam) and 10 Business congress events in just 2 months, Q1 2022 confirms the relaunch of Fiera Milano activities and a well-established overview restart
Slide 5: A rich calendar of events for 2022
A rich calendar of events for 2022 Detailed events calendar: https://www.fieramilano.it/calendario.html International exhibitions FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Identità golose Salone del Risparmio 5
Slide 6: Agenda
AGENDA 1. Executive summary 2. Business review 3. Financial review Appendix 1. Fiera Miano at a glance and FY 2021 results 2. Key investment highlights
Slide 7: Snapshot of quarterly results
Snapshot of quarterly results Revenues (€m) Divisional results Q1 2022 Revenue split 71,0 Q1 2022 Revenue split Revenues (€m) Q1 2019 Q1 2020 Q1 2021 Q1 2022 47,6 Italian Exhibitions 63,0 42,3 0,9 20,8 9% 9% 3% 3% Foreign Exhibitions 0,8 1,1 0,1 0,7 Italian 23,5 Congresses 7,0 4,0 0,5 2,2 Exhibition
Slide 8: Italian exhibition business (1/2)
Italian exhibition business (1/2) N. Exhibitions ▪ 10 exhibitions held in Q1 2022 with 144.705 net sqm occupied and more than 3.5k participating exhibitors 15 Directly managed Hosted ▪ 6 relevant exhibitions postponed for strategic purposes: BIT (Feb to Apr), Transpotec Logitec (Jan to May), HOMI 10
Slide 9: Italian exhibition business (2/2)
Italian exhibition business (2/2) Net sqm N. Participanting exhibitors Event Industry Trend Q1 2021 Q1 2022 Q1 2021 Q1 2022 ▪ Home décor, tableware, ▪ Another great edition for HOMI 2022, hosting 352 brands, 40% Directly managed ▪ Postponed ▪ 10.955 ▪ Postponed ▪ 225 textiles, essences of which came
Slide 10: Foreign Exhibitions Business
Foreign Exhibitions Business N. Exhibitions ▪ With 2,540 net smq occupied and more than 80 participating exhibitors, Investec Cape Town Art Fair was held in Feb-2022 and is the most important international Directly managed Hosted contemporary Art Fair in Africa. The Fair provides a platform for gall
Slide 11: Congresses
Congresses ▪ 10 congress events held in Q1 2022 at the MiCo venue – Milano Congressi, one of the largest and most modern conference centre in Europe, with space for approx.18k people ▪ Main events held: ▪ 23rd AICCER National Congress, congress of the Italian association of Cataract and Refractive S
Slide 12: Agenda
AGENDA 1. Executive summary 2. Business review 3. Financial review Appendix 1. Fiera Miano at a glance and FY 2021 results 2. Key investment highlights
Slide 13: Income Statement
Income Statement Income Statement (€m) FY2020 FY2021 Q1 2021 Q1 2022 REVENUES: €23.5m, an increase of €21.9m compared to Q1 2021 ▪ 11 exhibitions and 10 congress events held in just 2 months Revenues 73.6 129.8 1.5 23.5 1 ▪ 147.245 sqm occupied in Q1 2022 compared to 51.070 sqm sold in Q1 2021 1 Cos
Slide 14: Balance sheet
Balance sheet Balance Sheet (€m) FY2020 FY2021 Q1 2022 Net Working Capital Goodwill 95.0 95.0 95.0 Intangible assets with a defined useful life 17.0 18.5 17.8 ▪ Structurally negative Net Working Capital equal to €-79.3m in Q1 2022 compared Right-of-use assets 431.7 392.5 396.5 to €-86.3m in 2021 Tan
Slide 15: Cash flow
Cash flow As of As of Cash Flow (€m) Operating Cash flow of €-15.9m in Q1 2022, mainly driven by: 31 Dec 2021 31 Mar 2022 EBITDA 77.1 (2.4) ▪ Quarterly EBITDA of €-2.4m IFRS16 cash out (47.8) (6.4) ▪ IFRS16 cash out of €6.4m in Q1 2022 referred to the financial impact of the 4° rent installment of 2
Slide 16: Agenda
AGENDA 1. Executive summary 2. Business review 3. Financial review Appendix 1. Fiera Miano at a glance and FY 2021 results 2. Key investment highlights
Slide 17: Fiera Milano at a glance
Fiera Milano at a glance The Italian market leader and one of the main integrated operators worldwide in the management and organization of exhibitions and congresses Italian exhibitions Foreign exhibitions Congresses FY 21 FY 21 FY 21 Revenues (%) Revenues (%) Revenues (%) 83% 0.1% 17% ▪ Managing o
Slide 18: Key investment highlights
Key investment highlights Strong commitment to ESG Institutional role with strong heritage culture ▪ ESG themes moving to the top of the agenda with new ▪ Mission critical business for the Italian entrepreneurial fabric framework and strategy integrated in the CONN.E.C.T. 2025 plan ▪ Strategic partn
Slide 19: Disclaimer
Disclaimer This presentation and any materials distributed in connection herewith (together, the “Presentation”) do not constitute or form a part of, and should not be construed as, an offer for sale or subscription of or solicitation of any offer to purchase or subscribe for any securities, and nei
Slide 20: Website and contacts
WEBSITE:https://investors.fieramilano.it/en C O N TA C T S : i n v e s t o r. r e l a t i o n s @ f i e r a m i l a n o . i t