Fiera Milano Spa · MIL:FM
Fiera Milano Spa — STAR Conference London 2011
29 slides from Fiera Milano Spa's conference presentation, Oct 5, 2011
Slide 1: Fiera Milano Group Presentation
Fiera Milano Group p Presentation STAR Conference London, 5 October 2011
Slide 2: Contents
Contents • Company Overview • Achievements • Closing Remarks • Appendices 2
Slide 3: Fiera Milano in brief
Fiera Milano in brief The Group is the market leader in Italy and one of the world’s leading operators across the entire value chain of the exhibition industry It has two venues in Milan with a total of 388,000 gross sq m of indoor space (+ 60,000 sq m of outdoor space) IIt h hosts an average off 80
Slide 4: Group Structure
Group Structure EXHIBITIONS Rent of space and related services to exhibition organisers and direct organisation of exhibitions CONGRESSES MEDIA SERVICES A multimedia and multi-channel Management of conventions and communications system including Stand fitting services congresses printed publications
Slide 5: Fiera Milano Positioning
Fiera Milano Positioning Fiera Milano is among the world’s leading exhibitions sites in terms of Gross Indoor Capacity Gross Indoor First 10 Exhibition Sites Capacity in the World (Sq m) Fiera Milano is the European leader for net sq m Hanover 466,765 rented out to international exhibitions Frankfur
Slide 6: Italian Exhibition Portfolio by Sector
Italian Exhibition Portfolio by Sector Vehicles and related q p equipment Sport - Leisure 6% Health and Environment 10% Food - Catering 2% 1% Furniture and furnishing Textiles, clothing & 14% i accessories 20% Antiques and crafted products 5% Industrial machinery Homeware and g gifts 6% 14% Electron
Slide 7: Italian Exhibition Portfolio: Main Events
Italian Exhibition Portfolio: Main Events Sq m Number Exhibition Industry Frequency ( '0 0 0 ) of exhibitors Salone del mobile Furniture and furnishing Annual 211 1,760 Macef primavera + Macef autunno/Bijoux Homeware and gifts Annual 193 2,955 Micam (Spring) + Micam (Autumn) Textiles clothing & acce
Slide 8: Global Presence
Global Presence Fiera Milano is a successful direct exhibition organiser in the BRIC countries RUSSIA CHINA No. Exhibitions: 1 No. Exhibitions: 13 40 exhibitions organised abroad ITALY No. Exhibitions: 80 INDIA BRAZIL No. Exhibitions: 8 No. Exhibitions: 18 8 Company Overview
Slide 9: Mission and Strategy
Mission and Strategy Fiera e a Milano a o aims a s to o become eco e the e world’s o d s leading ead g exhibition e o company Core Business strengthening the exhibition portfolio I t Internationalisation ti li ti 9 Company Overview
Slide 10: 2011-2014 Strategic Priorities
2011--2014 Strategic Priorities 2011 Consistent strategy exploiting key strengths growth Enhance the exhiibition ation e of serviices any pand thee on and g internattionalisa a Compa ngresses s Business ortfolio Further Development ntegratio Exp Media Con po range ICT in E I Increase customer t loya
Slide 11: Shareholder structure
Shareholder structure Market Float, 24.44% Treasury Shares, 2.00% BPM 2.62% BPM, 2 62% Fondazione Cariplo, 2.42% CCIAA Milano, 6.46% Ente te Autonomo uto o o Fiera ea Internazionale di Milano, 62.06% Fiera Milano is controlled by Fondazione Fiera Milano, a private law foundation, whose corporate mis
Slide 12: Favourable Payment Cycle
Favourable Payment Cycle Main financial features of the contractual agreements with organisers: standard contract guarantee (minimum guaranteed) significant advance payments treasury management services i on behalf b h lf off organisers i Group’s structural negative NWC Advance payments minus FM fee
Slide 13: Contents
Contents • Company Overview • Achievements • Closing Remarks • Appendices 13
Slide 14: Exhibitions
Exhibitions In 2010 over 60,000 net square meters of new exhibitions, including CAVALLI a MILANO and InterCHARM Milano In 2011 Macef (lifestyle sector): +15% net sq m compared to 2011 (January + September editions) after a repositioning plan The January edition increased in profitability: + € 4 mill
Slide 15: Congresses
Congresses In May 2011 successful opening of Europe’s newest and largest congress centre, MiCo 18,000 18 000 seats, seats auditorium with 4 4,500 500 seats, seats 73 rooms with seating for 20-2,000, ancillary exhibition space of 54,000 sq m Leading international congresses in 2011, including: POWER-
Slide 16: Internationalisation and Expo
Internationalisation and Expo Acquisition of the Brazilian exhibition organiser CIPA FM, completed in January 2011: 20 18 8 exhibitions hb with h an excellent ll position, in particular l in the safety and security sectors and in the technology sector In India incorporation of Fiera Milano India Pri
Slide 17: Rationalisation
Rationalisation In 2010 cost savings of about € 8 million in the management of the exhibition site ((maintenance, a te a ce, eenergy, e gy, secu security ty se services, ces, ccleaning) ea g) In 2010 reduction of 79 employees following the merger of group companies active in exhibition organisation
Slide 18: Contents
Contents • Company Overview • Achievements • Closing Remarks • Appendices 18
Slide 19: Closing Remarks
Closing Remarks Average g 2011-2014 Industrial Plan targets: g Revenues +35% and Gross operating margin increasing from 8.2% to ca. 11.8% Strong improvement in profitability Return to remuneration of Shareholders The net financial position and cash flow generation should ensure the Group can take ad
Slide 20: Contents
Contents • Company Overview • Achievements Achie ements • Closing Remarks • Appendices 20
Slide 21: Target Growth in Net Exhibition Space
Target Growth in Net Exhibition Space off fieramilano fi il and d fieramilano fi fieramilanocity il city it (‘000 sq m) 1,875 1,855 1,795 1 560 1,560 1,509 240 360 340 62 195 1,555 1,515 1,515 1,447 1,365 2010A 2011E 2012E 2013E 2014E Actual exhibitions New exhibitions 21 Appendices
Slide 22: Internationalisation
Internationalisation Net Exhibition Space (‘000 sq m) 2,150 2,160 2,045 1,775 275 305 1 694 1,694 250 215 185 1,795 1,875 1,855 1,509 1,560 2010A 2011E 2012E 2013E 2014E Data related to the JV with Deutsche Messe corresponds to 100% of total 2010 Gross Operating Profit 2014 Gross Operating Profit 17
Slide 23: Consolidated Gross Operating Profit
Consolidated Gross Operating Profit (€ (€m) 12.5% 9.3% 8.2% 43 27 20 FY10A FY11E Average FYs 12-14E Gross Operating Profit GOM % 23 Appendices
Slide 24: Enhanced Financial Flexibility
Enhanced Financial Flexibility Net Debt/Gross Operating Profit 2.5 0.6 FY11E FY14E 24 Appendices
Slide 25: Consolidated Income Statement
Consolidated Income Statement FY10 Income Statement (€'000) 1H11 1H10 248,358 Revenues 139,565 148,096 20,430 Gross operating result 20,020 21,642 8.2% Gross operating margin (%) 14.3% 14.6% 2,336 Net operating result (EBIT) 15,272 14,931 0.9% Net operating margin (%) 10.9% 10.1% 207 Profit before i
Slide 26: Reclassified Consolidated Balance Sheet
Reclassified Consolidated Balance Sheet Balance Sheet (€'000) 30/06/11 31/12/10 Non-current assets 211,768 200,430 Net working capital (42,494) (27,450) Gross capital employed 169,274 172,980 Non-current liabilities 27,388 24,448 T t l nett capital Total it l employed l d 141 886 141,886 148 532 148
Slide 27: Net Financial Position
Net Financial Position Net Financial Position (€'000) 30/06/11 31/12/10 Cash (including bank balances) 19,041 22,692 Other cash equivalents - - Securities held for trading - - Cash & cash equivalents 19,041 22,692 Current financial assets 4,029 3,905 Current bank payables 69,868 106,797 Current port
Slide 28: Forward-Looking Statements
Forward-Looking Statements This document has been prepared by Fiera Milano S.p.A. solely for information purposes and for use in presentations of the Group. The information contained herein has not been independently verified. No representation or warranty, express or implied, is made as to, and no
Slide 29: For further information, please contact
For further information, please contact: Gianna La Rana Investor Relations Manager Camilla Cusi Investor Relations Fiera Milano SpA Strada Statale del Sempione, 28 20017 Rho (Milano) - ITALY Tel: + 39 02 4997.7816/7911 E mail: investor.relations@fieramilano.it E-mail: investor relations@fieramilano