Fiera Milano Spa · MIL:FM
Fiera Milano Spa — Q1 2024 Earnings Presentation
24 slides from Fiera Milano Spa's earnings presentation, May 13, 2024
Slide 1: Fiera Milano Results as of 31 March 2024
Fiera Milano Results as of 31 March 2024 13 May 2024
Slide 2: Today's Speakers
TODAY’S SPEAKERS FRANCESCO CONCI MASSIMO DE TULLIO VINCENZO CECERE CEO & General Manager CFO Head of IR & Sustainability > 20 years in Fiera Milano 6 years in Fiera Milano 2 year in Fiera Milano ▪ Relevant experience: ▪ Relevant experience: ▪ Relevant experience: ▪ CEO and General Manager of Fiera M
Slide 3: Agenda
AGENDA EXECUTIVE ESG UPDATE 01 SUMMARY 04 BUSINESS REVIEW Appendix 02 03 FINANCIAL REVIEW
Slide 4: Executive Summary
EXECUTIVE SUMMARY
Slide 5: Executive Summary
EXECUTIVE SUMMARY ▪ 16 exhibitions in Q1 2024 (15 in Italy and 1 abroad; 6 organized and 10 hosted) vs. 14 exhibitions in Q1 2023 STRONG SET OF ▪ 29 congresses (of which 7 with related exhibition area) vs. 30 congresses in Q1 2023 OPERATIVE ▪ 361,370 sqm occupied (346,160 sqm Italy, 4,105 sqm abroad
Slide 6: Business Review
BUSINESS REVIEW
Slide 7: Snapshot of Divisional Results – Legal Entities View
SNAPSHOT OF DIVISIONAL RESULTS – LEGAL ENTITIES VIEW A Italian Exhibition business Revenues (€m) Q1 2023 40,5 Q1 2024 64,7 Δ (€) +24,1 ▪ Revenue growth of + 60% primarily due a strong performance of annual events in both exhibition space and services and positive calendar effect with MCE ▪ EBITDA gr
Slide 8: Revenue Growth Contribution - Business Line View
REVENUE GROWTH CONTRIBUTION - BUSINESS LINE VIEW + €24,2m €48,1m €72,4m 3% 2% 2% 4% * 39% 11% 2% 12% 42% * 5% 30% 16% 2% 26% 36% 32% 2 19% 17% Q1 2023 Organized Hosted Physical services Digital, Congresses Other Q1 2024 data e media Organized Physical services Congresses Hosted Digital, Data,Media O
Slide 9: Fiera Milano Q1 2024 SQM Growth Champions
FIERA MILANO Q1 2024 SQM GROWTH CHAMPIONS SELECTED ITALIAN EXHIBITIONS ORGANIZED HOSTED SQM (k) SQM GROWTH % SQM GROWTH % SQM (k) Q1 2024/ last edition Q1 2024/ last edition + 16 27 +70% 86 78 +11% Q1 2023 Q1 2024 Q1 2022 Q1 2024 17 46 16 +7% 38 +21% Q1 2023 Q1 2024 Q1 2023 Q1 2024 31 5 25 +27% 3 +6
Slide 10: Financial Review
FIERA MILANO FINANCIAL REVIEW
Slide 11: Income Statement
INCOME STATEMENT ▪ Revenues: from Euro 48.1m in Q1 2023 to Euro 72.4m in Q1 2024, an improvement of Euro 24.2m (growth of +50.4% compared to Q1 2023) ▪ positive calendar effect characterized by the presence of the biennial Mostra Convegno Expocomfort Q1 Q1 Q1 Δ (€) Consolidated Income Statement (€m)
Slide 12: Balance Sheet
BALANCE SHEET As of As of Δ Balance Sheet (€m) 31 Dec 31 Mar 31 Mar 2024/ 2023 2024 31 Dec 2023 ▪ Net Working Capital goes from Euro (98.2)m at 31/12/2023 to Euro (94.7)m at Goodwill 95.0 95.0 0.0 1 31/3/2024 Intangible assets with a finite useful life 12.2 11.1 -1.1 Right-of-use assets 362.0 352.9
Slide 13: Cash Flow
CASH FLOW Free Cash Flow generated in Q1 2024: Euro (3.3)m. The main components are: ▪ EBITDA 3 months: Euro 25.7m; Cash Flow (€m) From 31 Dec 2023 ▪ IFRS16 cash out (rentals): Euro (28.3)m related to the rent for Q4 2023 and Q1 2024 (from Q1 2024 to 31 Mar 2024 advanced payment of the rent); EBITDA
Slide 14: Excellent Financial Stability
EXCELLENT FINANCIAL STABILITY Fiera Milano achieved an excellent financial stability, transforming the Covid-19 emergency into an opportunity to reorganize its financial structure CURRENT ASSET/ CURRENT LIABILITIES (EQUITY + NON CURRENT LIABILITIES)/ FIXED ASSET €m Ratio: 0,83 €m Ratio: 1,00 Ratio:
Slide 15: 2024-2027 Strategic Plan Guidance
2024-2027 STRATEGIC PLAN GUIDANCE In 2027 Fiera Milano expects to achieve: Millions of euros 2024 2025 2026 2027 ▪ Revenues between Euro 355 and 375 million Revenues 245-255 320-340 305-325 355-375 ▪ An estimated EBITDA between Euro 120 and 130 million EBITDA 65-75 110-120 90-100 120-130 ▪ Over the
Slide 16: ESG Commitment
ESG COMMITMENT
Slide 17: Fiera Milano ESG Scorecard
FIERA MILANO ESG SCORECARD Environment Social Governance As of 31/12/2023 Total CO2 emissions (tCO2eq) % Renewable sources used Employees Diversity Board independence Board diversity -33% Age Gender 24,951 598 612 637 > 50 years 56% 22% 78% Independent 37% 38% 41% 43% 17,828 30% 30-50 years 341 347
Slide 18: Integrated Sustainability Plan: Environmental
THE NEW INTEGRATED SUSTAINABILITY PLAN ENVIRONMENTAL DIMENSION OF THE ESG ESG STRATEGIC # TARGET TIMING SDGS PLAN 2024- PRIORITIES 2027 1 • Reduction of Scope 1 + Scope 2 CO2 emissions by at least -60% from 2023 baseline 2027 2 • Increase the share of electricity from renewable sources from 38% to 7
Slide 19: Integrated Sustainability Plan: Social
THE NEW INTEGRATED SUSTAINABILITY PLAN SOCIAL DIMENSION OF THE ESG ESG STRATEGIC # TARGET TIMING SDGS PLAN 2024- PRIORITIES 2027 13 • Increase in the incidence of female gender in managerial positions from 46% to 49% 2027 1Attracting and hosting leading events in PEOPLE 14 • Obtain UNI/PDR 125:2022
Slide 20: Integrated Sustainability Plan: Governance
THE NEW INTEGRATED SUSTAINABILITY PLAN GOVERNANCE DIMENSION OF THE ESG ESG STRATEGIC # TARGET TIMING SDGS PLAN 2024- PRIORITIES 2027 23 • Obtain ISO 37001 certification (anti-corruption) for Fiera Milano 2024 24 • Obtain ISO 14001 certification (environmental) for Fiera Milano 2024 GOVERNANCE AND BU
Slide 21: Appendix
APPENDIX
Slide 22: Exhibitions and Congresses in Q1 2024
EXHIBITIONS AND CONGRESSES IN Q1 2024 Manifestazioni Italia – metri quadrati Net square meters (A) = Annual Italian Exhibitions (B) = Biennial Q1 2023 Q1 2024 (M) = Muti-year Directly Organized - Bit (A) 16,165 17,225 - Milano Home (A) 16,010 19,675 - Milano Fashion&Jewels (I semester) (A) 12,630 12
Slide 23: Thank you
Thank you CONTACTS: Investor relations: investor.relations@fieramilano.it Sustainability: sustainability@fieramilano.it Investor Relations NEXT https://investors.fieramilano.it/en CORPORATE Sustainability EVENTS: www.fieramilano.it/en/sustainability.html 2024 Exhibition Calendar www.fieramilano.it/e
Slide 24: 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