Fiera Milano Spa · MIL:FM
Fiera Milano Spa — H1 2019 Earnings Presentation
18 slides from Fiera Milano Spa's earnings presentation, Jul 31, 2019
Slide 1: 1st Half 2019 Consolidated Results
1st Half 2019 Consolidated Results FIERA MILANO GROUP CONFERENCE CALL – 31 July 2019
Slide 2: Contents
CONTENTS Highlights Financial Results Business outlook 2
Slide 3: Highlights
HIGHLIGHTS In the first half 2019, the positive business performance, far higher than the 2017 comparable period, significantly offset the less favourable exhibition calendar of the period of which Key figures (€m) 1H19 IFRS 16 1H18 1H17 impact Revenues 153.9 157.7 133.9 EBITDA 62.4 24.2 46.1 11.9 E
Slide 4: Achievements
ACHIEVEMENTS On 17 July 2019 Fiera Milano signed a preliminary binding contract for the acquisition of 60% of the company MADE Eventi S.r.l., organiser of the international biennial architecture and construction exhibition MADE expo On 9 July 2019 the exhibition trademark Cartoomics, in the comi
Slide 5: Contents
CONTENTS Highlights Financial Results Business outlook 5
Slide 6: Italian Exhibitions
ITALIAN EXHIBITIONS Exhibition space rented out ('000 net sq.m.) 967 827 136 Multi-year exhibitions 227 253 Biennial exhibitions 604 Annual 574 exhibitions 1H18 1H19 % of directly organised exhibitions 16% 28% • Annual exhibitions: absence of ENCI winner and Tempo di Libri • Biennial exhibitions: pr
Slide 7: Italian Exhibition Business
ITALIAN EXHIBITION BUSINESS Italian Exhibition Business 1H19 1H18 Revenues (€m) 129.2 138.6 EBITDA (€m) 52.3 43.0 % on revenues 40.5% 31.0% EBIT (€m) 32.2 41.1 % on revenues 24.9% 29.6% • The trend of revenues is mainly attributable to the exhibition calendar • The trend of EBITDA is primarily relat
Slide 8: Foreign Exhibition Business
FOREIGN EXHIBITION BUSINESS Foreign Exhibition Business 1H19 1H18 Revenues (€m) 3.1 2.7 EBITDA (€m) 2.5 1.8 % on revenues 80.7% 68.5% EBIT (€m) 2.3 1.6 % on revenues 73.2% 61.0% • 13 exhibitions (12 in 1H18) and 171,225 net square metres of exhibition space in 1H19 (148,955 square metres in 1H18) •
Slide 9: Media
MEDIA Media 1H19 1H18 Revenues (€m) 5.8 6.2 EBITDA (€m) 0.8 0.7 % on revenues 14.1% 10.8% EBIT (€m) 0.7 0.5 % on revenues 12.1% 8.7% • The trend in revenues was mainly attributable to lower billboard advertising because of the different exhibition calendar • The improvement in margins was mainly due
Slide 10: Congresses
CONGRESSES Congresses 1H19 1H18 Revenues (€m) 21.2 15.5 EBITDA (€m) 6.8 0.6 % on revenues 32.0% 3.9% EBIT (€m) 4.4 (0.1) % on revenues 20.8% -0.5% • The year-on-year increase in revenues reflected the presence of important international congresses • EBITDA benefitted from the improvement in revenues
Slide 11: Net Financial Position
NET FINANCIAL POSITION Consolidated Net Financial Position (€m) 30/06/19 31/12/18 Cash & cash equivalents 57.8 28.4 Current financial assets 2.3 0.0 Current bank borrowings 0.0 0.0 Current portion of non-current debt 1.5 3.5 Other current financial liabilities 0.6 1.3 Current financial debt 2.1 4.8
Slide 12: Contents
CONTENTS Highlights Financial Results Business outlook 12
Slide 13: Business Outlook
BUSINESS OUTLOOK The results of the first semester, and especially of the second quarter, were ahead of expectations With reference to the second half, it should be noted that the third quarter will feature the normal suspension of exhibition activity in the summer months and the postponement of
Slide 14: Forward-Looking Statement
FORWARD-LOOKING STATEMENT Data and information herewith set forth are extracted from the press release relating to Fiera Milano Consolidated Half-Year Financial Report to 30 June 2019 filed with the Italian authorities regulating exchanges and securities and disseminated concomitantly with this pres
Slide 15: For further information, please contact: Fiera Milano SpA
For further information, please contact: Investor Relations Department Tel +39 02.4997.7816/7911 email: investor.relations@fieramilano.it Fiera Milano SpA S.S. del Sempione 28 20017 Rho (Milano) - Italia www.fieramilano.it
Slide 16: Back-up
BACK-UP 16
Slide 17: Financial Overview – Income Statement
FINANCIAL OVERVIEW – INCOME STATEMENT Consolidated Income Statement (€m) 1H19 1H18 Revenues 153.9 157.7 Cost of materials 1.4 1.5 Cost of services 66.6 64.7 Costs for use of 3rd-party assets 0.3 25.5 Personnel expenses 24.2 23.2 Other operating expenses 2.5 2.4 Total operating costs 95.0 117.2 Other
Slide 18: Financial Overview – Statement of Financial Position
FINANCIAL OVERVIEW – STATEMENT OF FINANCIAL POSITION Consolidated Statement of Financial Position (€m) 30/06/19 31/12/18 Non-current assets 636.9 148.4 Net working capital (91.5) (73.1) Gross capital employed 545.3 75.3 Non-current liabilities 17.2 16.9 Total net capital employed 528.2 58.4 Equity 9