Fiera Milano SpA · MIL:FM
Fiera Milano SpA — FY2017 Earnings Presentation
19 slides from Fiera Milano SpA's earnings presentation, Mar 12, 2018
Slide 1: FY2017 Consolidated Results
www.fieramilano.it FY2017 Consolidated Results FIERA MILANO GROUP CONFERENCE CALL - 12 MARCH 2018 1
Slide 2: Contents
CONTENTS Highlights Financial Results Business outlook 2
Slide 3: Highlights
HIGHLIGHTS Strong improvement in results and a return to profit in 2017 • Net exhibition space occupied in Italy: 1,517,205 square metres (32% by directly organised exhibitions) +18% vs 2016 271.3 221.0 • Consolidated revenues: Euro 271.3 million, +23% vs 2016 2016 2017 15.1 • Consolidated EBITDA: E
Slide 4: Contents
CONTENTS Highlights Financial Results Business outlook 4
Slide 5: Italian Exhibitions
ITALIAN EXHIBITIONS Exhibition space rented out ('000 net sq.m.) 1,517 1,285 436 254 Biennial exhibitions Annual exhibitions 1,031 1,081 FY16 FY17 of which directly organised Biennial exhibitions - 283 Annual exhibitions 176 200 New record for the biennial exhibition Host (137,005 sq.m.) in the pr
Slide 6: Italian Exhibitions
ITALIAN EXHIBITIONS Italian exhibitions 2017 2016 Revenues (€m) 220.0 173.4 EBITDA (€m) 13.3 -7.9 % on revenues 6.0% -4.5% EBIT (€m) 8.8 -15.2 % on revenues 4.0% -8.8% • The 2017 increase in revenues reflected the trend in exhibition space occupied • EBITDA rose on the back of the increase in revenu
Slide 7: Foreign Exhibitions
FOREIGN EXHIBITIONS Net sq. metres of exhibition space Exhibitions FY17 FY16 China 330,985 292,855 Brazil 11,995 10,400 South Africa 10,060 11,870 India 5,630 11,100 USA - 505 Total annual exhibitions 358,670 326,730 China 3,640 - Brazil 9,450 30,730 Total biennial exhibitions 13,090 30,730 Total 37
Slide 8: Foreign Exhibitions
FOREIGN EXHIBITIONS Foreign exhibitions 2017 2016 Revenues (€m) 5.1 6.8 EBITDA (€m) 0.1 1.6 % on revenues 1.6% 23.2% EBIT (€m) -0.4 -4.5 % on revenues -8.6% -66.0% • The trend in revenues reflected the absence of some biennial exhibitions in Brazil • The EBITDA benefited from improved results from t
Slide 9: Stand-fitting Services
STAND-FITTING SERVICES Stand-fitting services 2017 2016 Revenues (€m) 33.0 38.3 EBITDA (€m) -1.8 2.4 % on revenues -5.3% 6.3% EBIT (€m) -3.5 0.5 % on revenues -10.6% 1.3% • The trend in revenues and margins reflected lower volumes in the stand-fitting business that, in 2016, included some contracts
Slide 10: Media
MEDIA Media 2017 2016 Revenues (€m) 10.8 11.1 EBITDA (€m) 0.4 0.6 % on revenues 3.8% 5.7% EBIT (€m) -1.2 -4.1 % on revenues -11.0% -37.1% • The downward trend in revenues and EBITDA was caused by a reduction in print and billboard advertising and training revenues, which was partially offset by an i
Slide 11: Congresses
CONGRESSES Congresses 2017 2016 Revenues (€m) 46.3 30.7 EBITDA (€m) 3.0 2.1 % on revenues 6.5% 7.0% EBIT (€m) 1.7 1.1 % on revenues 3.7% 3.7% • The increase in revenues reflected the presence of the ERS congress and the destination management services provided • EBITDA increased, but was impacted by
Slide 12: Net Financial Position
NET FINANCIAL POSITION Consolidated Net Financial Position (€m) 31/12/17 31/12/16 Cash & cash equivalents 17.9 20.9 Current financial assets 2.8 2.6 Current financial debt 18.0 48.9 Net current financial debt (cash) -2.8 25.4 Non-current net financial debt 3.5 14.2 Net financial debt (cash) from con
Slide 13: Contents
CONTENTS Highlights Financial Results Business outlook 13
Slide 14: Business Outlook
BUSINESS OUTLOOK • Despite the less favourable exhibition calendar in Italy in 2018, the Group expects 2018 EBITDA in the range of Euro 15-17 million, a year-on-year increase that will benefit from cost restructuring • The economic and financial performance will be affected by the usual seasonality
Slide 15: Appendix
| D Appendix
Slide 16: Income Statement
INCOME STATEMENT Consolidated Income Statement (€m) 2017 2016 restated Revenues 271.3 221.0 EBITDA 15.1 -1.8 EBITDA (%) 5.6% -0.8% EBIT 5.4 -23.0 EBIT (%) 2.0% -10.4% Profit/loss before income tax 4.6 -24.0 Profit/loss margin (%) 1.7% -10.8% Profit/loss 1.7 -22.9 of which attributable to Shareholder
Slide 17: Statement of Financial Position
STATEMENT OF FINANCIAL POSITION Consolidated Statement of Financial Position (€m) 31/12/17 31/12/16 Non-current assets 151.5 160.9 Net working capital -74.3 -46.5 Gross capital employed 77.3 114.4 Non-current liabilities 13.4 16.4 Net capital employed from continuing operations 63.8 97.9 Net capital
Slide 18: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS Data and information herewith set forth are extracted from the press release related to Fiera Milano Consolidated Results to 31 December 2017 filed with Italian authorities regulating exchanges and securities and disseminated concomitantly with this presentation. This docu
Slide 19: For further information, please contact
For further information, please contact: Gianna La Rana Investor Relations Director Camilla Cusi Investor Relations 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