Fiera Milano Spa · MIL:FM
Fiera Milano Spa — STAR Conference 2018
26 slides from Fiera Milano Spa's conference presentation, Oct 23, 2018
Slide 1: STAR Conference 2018 - Fiera Milano Group
STAR Conference 2018 FIERA MILANO GROUP London, October 23rd 2018
Slide 2: Agenda
AGENDA Group overview Strategic Plan 2018-2022 Closing remarks 2
Slide 3: Integrated Business Model
Group overview INTEGRATED BUSINESS MODEL Fiera Milano is the market leader in Italy and one of the world’s leading operators across the entire value chain of the exhibition industry Italian Exhibitions: Fiera Milano organises proprietary exhibitions providing exhibition space and services directly t
Slide 4: Fiera Milano Highlights
Group overview FIERA MILANO HIGHLIGHTS Total gross exhibition capacity Congresses 401,000 sqm of which 165 congresses 345,000 sqm fieramilano site 345,000 participants 56,000 sqm fieramilanocity site Number of training events Net exhibition space occupied 114 1,888,965 sqm of which 371,760 sqm abroa
Slide 5: Key Milestones of Fiera Milano Group to Date
Group overview KEY MILESTONES OF FIERA MILANO GROUP TO DATE Foundation Spin-off & Listing New Site Expo Milano New Board Eight entrepreneurs 2000-2002: Ente Autonomo fieramilano Fiera Milano acquires New Board of organise the first exhibition Fiera di Milano spins off Fiera exhibition Ipack-Ima
Slide 6: Strong Position Worldwide
Group overview STRONG POSITION WORLDWIDE The number one exhibition entity in Italy and one of the main exhibition entities worldwide in terms of gross indoor exhibition space Top exhibition sites worldwide* Top exhibition companies in Italy** (‘000 sqm) (‘000 sqm) Hannover 463 NECC Shanghai 400 Fran
Slide 7: MiCo Well-Ranked Among Top European Congresses Players
Group overview MICO WELL-RANKED AMONG TOP EUROPEAN CONGRESSES PLAYERS Top European players by Revenues 2016 €m 39 28 28 27 19 14 12 8 6 6 5 Le Palais MiCo Svenska Stockholms ExCeL Messe Leipziger Westfalen Prague IFEMA La Cité des Congrès Mässan Mässan London Berlin Messe hallen Con
Slide 8: Exhibition Portfolio
Group overview EXHIBITION PORTFOLIO Food - Catering 3.4% Others 2.0% Vehicles and related equipment 7.1% Textiles, clothing & accessories 17.4% Building - plant design - energy 8.0% A well diversified portfolio of exhibitions, almost entirely B2B Commerce - Services 7.6% Furniture and furnishing 12.
Slide 9: Shareholder Structure
Group overview SHAREHOLDER STRUCTURE Ente Autonomo Fiera Internazionale di Milano 63.8% Camera di Commercio Metropolitana di Milano- Monza-Brianza-Lodi 6.5% Fondazione Fiera Milano is a non-profit private Treasury shares law foundation, whose corporate mission is the 1.3% development of the exhibiti
Slide 10: Long Term Visibility and Favourable Payment Cycle
Group overview LONG TERM VISIBILITY AND FAVOURABLE PAYMENT CYCLE Advance payments minus FM fees* High visibility on revenues due to long-term contracts with organisers Main financial clauses in the contractual agreements with organisers: FM S.p.A. Organisers • standard contract guarantee (minimum gu
Slide 11: Agenda
AGENDA Group overview Strategic Plan 2018-2022 Closing remarks 11
Slide 12: Global Exhibition Market 2011-2021
Strategic Plan 2018-2022 GLOBAL EXHIBITION MARKET 2011-2021 Exhibition market expected to keep growing at 4% CAGR CAGR CAGR €b 11-16 16-21 CAGR 11-21 Strong acceleration +4% 27 28 expected in Emerging 25 26 23 24 22 22 7 8 4.6% 8.2% 20 21 6 7 merging1 E 19 5 6 5 5 5 4 5 7
Slide 13: Three Emerging Macro-Trends in the Exhibition Market
Strategic Plan 2018-2022 THREE EMERGING MACRO-TRENDS IN THE EXHIBITION MARKET Leadership in industry sector at Growing share of business for key players regional level is a key success factor from events outside domestic market • Exhibitors and visitors increasingly • Leveraging on geo-cloning of te
Slide 14: Three Principles Inspired Definition of Strategic Plan
Strategic Plan 2018-2022 THREE PRINCIPLES INSPIRED DEFINITION OF STRATEGIC PLAN Maximize Invest in core Build on venue potential industry sectors human capital 14
Slide 15: Fiera Milano Group Strategy
Strategic Plan 2018-2022 FIERA MILANO GROUP STRATEGY Enrich portfolio of Capture full potential of Grow portfolio of leading Expand international hosted exhibitions & services owned exhibition exhibitions congresses • Attract new leading/ high • Boost stand fitting • Foster Host & Tuttofood • Develo
Slide 16: ~€100M Investment Plan by the Controlling Shareholder
Strategic Plan 2018-2022 KEY AMBITION ENABLER ~€100M INVESTMENT PLAN BY THE CONTROLLING SHAREHOLDER FONDAZIONE FIERA MILANO TO ENHANCE THE VENUE Safe & Smart District Highest safety standards Data-rich venue est-in-class sustainable venue Environmental Sustainability B & Innovation (eg. solar ro
Slide 17: FMG Strategic Plan vs. Recent Trend
Strategic Plan 2018-2022 FMG STRATEGIC PLAN VS. RECENT TREND Strategic Plan target € 260-280m average revenue and € 28-32m average EBITDA for next 5 years Average Revenue Average EBITDA Net Financial Position € 260-280 m (% revenues) € 247 m € 28-32 m € 70-90 m € 10 m 10-12% 4% 2013-20171 20
Slide 18: Strategic Plan Will Evolve in Line with FMG Seasonality
Strategic Plan 2018-2022 STRATEGIC PLAN WILL EVOLVE IN LINE WITH FMG SEASONALITY FMG Historical EBITDA [€m] FMG Plan EBITDA [€m] EMO + all group biennial + Innovation alliance Upgrade: 60-70 € 24-26m EMO + Expo + all group biennial Innovation 31-33 All group alliance 35 biennial 17-21 17 13-1
Slide 19: Some Facts Already in the Books
Strategic Plan 2018-2022 SOME FACTS ALREADY IN THE BOOKS New guidance and organization Profitability recovery Guiding Principles Full-year EBITDA: -1% to +6% ('16 vs. '17) • One group H1 2018 EBITDA: 46.1€m (vs. 11.9€m 2017) • People engagement Recurring costs addressed • Execution excellence +
Slide 20: Agenda
AGENDA Group overview Financials Closing remarks 20
Slide 21: Closing Remarks
We have a strong leadership trust We have a clear definition of the ingredients for our success We are on track In the execution of our strategic plan We have completed the new organisation, started our investments and are strengthening our portfolio of exhibitions abroad CLOSING REMARKS We will
Slide 22: Forward-Looking Statement
FORWARD-LOOKING STATEMENT This document has been prepared by Fiera Milano SpA 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 reli
Slide 23: For further information, please contact
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 24: Back-up
BACK-UP 24
Slide 25: Financial Overview – Income Statement
FINANCIAL OVERVIEW – INCOME STATEMENT FY17 1H17 Consolidated Income Statement (€m) 1H18 restated* restated* 256.3 Revenues 157.7 133.9 136.5 Cost of materials and services 66.2 71.4 49.9 Costs for use of 3rd-party assets 25.5 25.3 48.9 Personnel expenses 23.2 23.5 5.4 Other operating expenses 2.4 2.
Slide 26: Financial Overview – Statement of Financial Position
FINANCIAL OVERVIEW – STATEMENT OF FINANCIAL POSITION Consolidated Statement of Financial Position (€m) 30/06/18 31/12/17 Non-current assets 149.7 151.5 Net working capital (67.9) (74.3) Gross capital employed 81.9 77.3 Non-current liabilities 13.3 13.4 Total net capital employed 68.5 63.8 Equity 94.