Fiera Milano Spa · MIL:FM
Fiera Milano Spa — Virtual STAR Conference 2021 - Fall edition
36 slides from Fiera Milano Spa's conference presentation, Oct 12, 2021
Slide 1: Fiera Milano Group - Virtual STAR Conference 2021
Fiera Milano Group Virtual STAR Conference 2021 Fall edition 12 October 2021
Slide 2: Agenda
AGENDA 01. Group overview 02. Exhibition resumption 03. H1 2021 results and FY 2021 outlook 04. Our sustainable approach BACK-UP 05. 2021-2025 Strategic Plan – CONN.E.C.T. 2025 06. 2021-2025 Targets & projections 1
Slide 3: Group overview
01 Group overview 2
Slide 4: Fiera Milano: a history of more than 100 years of growth
Fiera Milano: a history of more than 100 years of growth 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 Foundation Spin-off and listing Turnaround and Internationalisation Eight entrepreneurs organise relau
Slide 5: The Group is active in four businesses
The Group is active in 4 businesses Exhibition Services Venue Congresses organisation Direct organisation of Provision of services to Hosting of third-party Direct management of one proprietary exhibitions, organisers, exhibitors and exhibitions, providing of the largest and most providing space to
Slide 6: A well diversified exhibition portfolio, almost entirely B2B
A well diversified exhibition portfolio: almost entirely B2B and exposed to sectors where the “Made in Italy” label has strong appeal Figures refer to net exhibition space rented out in Italy (average 2017-2019) STAR Conference – Fall edition (virtual) 12 October 2021 5
Slide 7: Shareholder structure
Shareholder structure Fondazione Fiera Milano is a non-profit private-law foundation, whose corporate mission is the development of the exhibition sector in Italy and abroad Ente Autonomo Fiera Internazionale di Milano 63.8% Market Float 29.28% Treasury shares 0.38% Camera di Commercio Metropolitana
Slide 8: Fiera Milano - a big impact on the Italian economy
Fiera Milano – a big impact on the Italian economy ▪ Total economic impact of Fiera Milano of which in Lombardy EUR 8.1 billion EUR 4.3 billion Effect generated by Fiera Milano: € 6.6 billion Effect associated to suppliers, investments, payments of salaries and the expenses of exhibitors and visitor
Slide 9: Italian exhibitors made EUR 47 bn sales in Fiera Milano fairs in 2019
Italian exhibitors made EUR ≈ 47 bn sales in Fiera Milano fairs in 2019 – Exports accounted for 38% of total revenues Italian exhibitors’ sales at FM fairs by industry [2019; EUR m] Focus on exports [2019; EUR m] Exports account for 38% of 6.3 46.6 total revenues generated by Italian exhibitors in F
Slide 10: Exhibition resumption
02 Exhibition resumption 9
Slide 11: A busy exhibition calendar supported by an extraordinary organisational effort
A busy exhibition calendar supported by an extraordinary organisational effort During the months of forced inactivity, Fiera Milano worked closely with all the main stakeholders to meticulously plan the restart of its exhibition and conference events: ▪ the first two fairs (Sì Sposaitalia on 25-27 J
Slide 12: Exhibition resumption (1/2)
Exhibition resumption (1/2) CALENDAR - SEPTEMBER DATE SUPERSALONE 05-10 Supersalone and HOMI opened the busy HOMI 05-08 September calendar, followed by all the PTE 07-08 other scheduled exhibitions MIART 17-19 HOMI FASHION&JEWELS 18-20 THE ONE MILANO 19-21 MIPEL 19-21 MICAM 19-21 LINEAPELLE 22-24 SI
Slide 13: Supersalone - a successful event
Supersalone – a successful event attended by… 60,000 visitors (from 113 countries) returned to the venue; more than half were sector operators and buyers (of which 47% from abroad). Almost 1,800 accredited journalists from all over the world. STAR Conference – Fall edition (virtual) 12 October 2021
Slide 14: PTE, MIART, HOMI F&J
…PTE, MIART, HOMIF&J, …. Satisfactory performances in terms of number of visitors in almost all the exhibitions held STAR Conference – Fall edition (virtual) 12 October 2021 13
Slide 15: Exhibition resumption (2/2)
Exhibition resumption (2/2) CALENDAR – NOVEMBER / DECEMBER DATE CPHI 09-11 MILANO GAMES WEEK & CARTOOMICS 12-14 The first events in October took place as CHIBIMART 12-15 scheduled and Fiera Milano is on track to G! COME GIOCARE 19-21 deliver its challenging H2 2021 exhibition SICUREZZA 22-24 calenda
Slide 16: Business plan execution
Business plan execution Besides the preparations for the resumption of activity, management has been working to speed up the execution of CONN.E.C.T. 2025 business plan, whose goals include the transformation of Fiera Milano into a European hub, the improvement of the level of internationalisation o
Slide 17: H1 2021 results & FY 2021 outlook
03 H1 2021 results & FY 2021 outlook 16
Slide 18: Financial overview
Financial overview Consolidated Income Statement (€m) H1 2021 H1 2020 (*) Remarks Revenues 4.6 56.0 • H1 2021 results reflected the Total costs 27.6 45.4 EBITDA (23.0) 10.6 suspension of exhibition Depreciation and amortisation 22.3 22.4 activities due to the restrictive EBIT (45.3) (11.9) measures
Slide 19: Business outlook FY 2021
Business outlook FY 2021 Despite the still uncertain public-health scenario, with the spread of new variants of COVID-19, the current situation is more stable than in the recent past. This is mainly due to the increase in vaccine uptake and the Green Pass system, which came into force on 1 July, fac
Slide 20: Our sustainable approach
04 Our sustainable approach 19
Slide 21: Fiera Milano's sustainable approach
Fiera Milano’s sustainable approach Fiera Milano is deeply committed to integrating sustainability into its business-model processes ▪ Sustainability Reporting since 2015 (from 2017 also compliant with Non-Financial Disclosure regulation) ▪ Sustainability embedded in the organisation through focal p
Slide 22: ESG main highlights
ESG main highlights E -36% S 684 Employees in H1 2021 of which ~60% were female ~55,000 Hours of training expected in 2021 21% Waste 2019 vs. 2018 energy from 0 renewable fatal injuries in 2019-2021 99% sources non-hazardous ~6ml Number of bag and metal detector checks on 97% 75% entry points to exh
Slide 23: Forward-looking statement
Forward-looking statement Prospective investors are cautioned not to place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties and other factors which are, in many cases, beyond our control. In light of these risks, uncertainties, and assump
Slide 24: Back-up
BACK - UP 23
Slide 25: 2021-2025 Strategic Plan
05 2021-2025 Strategic Plan CONN.E.C.T. 2025 (Connections, Exhibitions, Community, Transformation) 24
Slide 26: In 2020 the exhibition market dropped by 68% in revenues vs 2019
After Covid-19 impact, in 2020 the Exhibition market dropped by 68% in revenues compared to 2019 Exhibition market size – Main 14 countries Estimated decline in mkt size – [2015-2020e; USD bn] Main 14 countries [2020 vs 2019] USA -72% China -51% +4% -68% Germany -68% 28.4 UK -72% 27.5 25.3 26.1 Fran
Slide 27: Exhibition market rebound to pre-Covid levels expected in '24 for Europe and US
Exhibition market rebound to pre-Covid levels expected in '24 for Europe and US, possibly '23 for Asia – Global congresses recovery expected already in '23 Source: Fiera Milano, Roland Berger analysis STAR Conference – Fall edition (virtual) 12 October 2021 26
Slide 28: Purpose and Mission
Fiera Milano aims to become the leading platform in the exhibitions and congresses business in the ‘New Normal’ Purpose Be the leading smart Create a world of hybrid platform opportunities for for innovative, businesses and sustainable and individuals through business-relevant our European Hub in ev
Slide 29: New Business Model
New Business Model Enablers HR Transformation & Organisational Alignment Services & content Exhibition Commercial and Product platform organisation Development excellence Congresses Venue Digital transformation Investment in the Venue and continuous improvement STAR Conference – Fall edition (virtua
Slide 30: Strategic goals for each key business area
Strategic goals for each key business area Services and Exhibition Venue Congresses content platform organisation Capture full potential Strengthen portfolio of Secure and enhance Consolidate and expand of both traditional and organised exhibitions hosted exhibitions and congresses’ positioning digi
Slide 31: Key strategic enablers
Key strategic enablers Enablers and Goals Commercial and HR Transformation & Investments on the Product Digital Organisational Venue & continuous Development transformation Alignment improvement excellence > Deploy the right team and > Set the right rules of the > Enable the platform > Propose a top
Slide 32: 2021-2025 targets & projections
06 2021-2025 targets & projections 31
Slide 33: In '25 FMG expected to achieve EUR 290-310m revenues and EUR 110-120m EBITDA
In '25, FMG expected to achieve EUR ≈290-310m revenues and EUR ≈110-120m EBITDA; net cash projected to a range of EUR ≈75-85m Key financials 2019-25 – Overview Remarks Revenues EBITDA1) Net Financial Position2) • In 2021, most of the events [EUR m] [EUR m] [EUR m] traditionally held in H1 were 24 –
Slide 34: Additional opportunities and potential risks
Additional opportunities have been identified and could be leveraged by FMG to gain full potential; potential risks mainly coming from exogenous factors Potential EBITDA impact Commercial agreements / key partnerships in exhibition sector M&A Upsides / Opportunities New organised exhibitions / new c
Slide 35: FMG set specific ESG targets
On top of financial targets, FMG set specific ESG targets ESG Dimension KPI Actual 20191) Target 20253) > % electric energy from Environment renewables 12% 50% > % employees included in People & performance and leadership management (PLM) with at 20% 100% Human Capital least one ESG goal > % employe
Slide 36: Thanks for your attention
Thanks for your attention For further information, please contact: Investor Relations Department Tel +39 02.4997.7816 email: investor.relations@fieramilano.it Fiera Milano S.p.A. Sede legale: Piazzale Carlo Magno 1, Registro Imprese di Milano 0123456789 T +39 01.2345.6789 20149 Milano, Italia REA MI
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