Fiera Milano Spa · MIL:FM
Fiera Milano Spa — STAR Conference 2015
27 slides from Fiera Milano Spa's conference presentation, Oct 6, 2015
Slide 1: Fiera Milano Group
www.fieramilano.it STAR Conference 2015 Fiera Milano Group London – 6 October 2015
Slide 2: Contents
Contents 2
Slide 3: Fiera Milano in brief
Fiera Milano in brief The Group is the market leader in Italy and one of the world’s leading operators across the entire value chain of the exhibition industry Total gross exhibition space: Net exhibition space: 388,000 square metres 1,634,425 square metres of which 414,300 square metres of which: 3
Slide 4: Fiera Milano history
Fiera Milano history 1920 1922 1960-1970 1980 Eight entrepreneurs Fiera Milano Campionaria Fiera Campionaria expands Fiera Campionaria becomes organise the first trade fair Internazionale (“Ente fast to become the market “Fiera d’Aprile”. In addition in Milan to exhibit sample Autonomo”) is set up b
Slide 5: The Fiera Milano mission
The Fiera Milano mission Fiera Milano offers a means for companies to grow and become more international It contributes to economic growth It promotes socio-economic improvement in the region in which it is based The Company’s aims are: • to feature among the leading global companies in the ex
Slide 6: Italian and foreign exhibitions
Italian and foreign exhibitions In Italy Fiera Milano hosts exhibitions operating as a «facility manager» through its management of the exhibition sites of fieramilano and fieramilanocity, promoting and offering equipped show areas and also design support and ancillary services to third party orga
Slide 7: Fiera Milano's market position
Fiera Milano’s market position Fiera Milano is the largest exhibition entity in Italy and among the largest in the world in terms of Gross Indoor Exhibition Capacity (‘000 sq m) The World Italy 463 367 345 340 345 284 262 243 242 240 231 237 152 109 Fiera Bologna Verona Rimini Milano (Rho) Source: A
Slide 8: The majority of Italian exhibitions are organized in Fiera Milano's sites
The majority of Italian exhibitions are organized in Fiera Milano’s sites Top 10 exhibitions in Italy by net exhibition space (000 sqm, last edition) Salone del Mobile - Euroluce - Ufficio 215 HOMI I and II semester 139 The Micam (Spring and Autumn) 135 EIMA 127 Mostra Convegno Expocomfort 125 Host
Slide 9: The global exhibition market
The global exhibition market (US$ bn) 3.8% CAGR 24.2 22.6 23.3 20.9 21.6 5.2 4.7 5.0 3.9 4.3 Emerging market size1 Mature market size2 17.9 18.2 19.0 17.0 17.3 2010 2011 2012 2013 2014 Post recession, the market continues to recover following a period of shrinkage and stagnation in mature markets an
Slide 10: Group structure
Group structure FOREIGN EXHIBITIONS ITALIAN EXHIBITIONS Direct organisation of exhibitions Rent of space and related services to exhibition organisers and direct organisation of exhibitions CONGRESSES MEDIA STAND-FITTING SERVICES A multimedia and multi-channel Management of conventions and communica
Slide 11: Stand-fitting services and Media
Stand-fitting services and Media The subsidiary Nolostand offers stand-fitting services, technical services and all exhibition site services for exhibitions and congresses The Group produces content and supplies on line and off line publishing services, as well those associated with the organisation
Slide 12: Congresses
Congresses Fiera Milano Congressi organises congresses, conventions and conferences through its management of Europe’s newest and largest congress centre, MiCo - Milano Congressi: 18,000 seats, an auditorium with 4,500 seats, 73 rooms with seating capacity for 20 - 2,000, ancillary exhibition spac
Slide 13: Shareholder structure
Shareholder structure Market Float, 24.89% Treasury stock, 1.53% BPM, 2.74% Ente Autonomo Fiera Fondazione Internazionale Cariplo, 2.42% di Milano, 62.06% CCIAA Milano, 6.36% Fiera Milano is controlled by Fondazione Fiera Milano, a non-profit private law foundation that has a corporate mission to de
Slide 14: Contents
Contents ctratedY Creu Paeree
Slide 15: Exhibition space rented out in Italy
Exhibition space rented out in Italy (‘000 sq m) 1,509 1,531 1,476 27 12 1,334 108 1,220 283 299 14 295 17 324 275 Multi-year exhibitions Biennial exhibitions 1,183 1,236 Annual exhibitions 1,073 996 928 2010 2011 2012 2013 2014 Exhibition space rented out was affected by the weak economy and, in pa
Slide 16: Consolidated revenues
Consolidated revenues (€ million) Consolidated revenues 2014 Revenues by operating segment 267.4 253.2 240.9 245.1 245.5 Media, 4.4% Congresses, 13.3% Stand-fittings services, 2010 2011 2012 2013 2014 11.8% Italian exhibitions, Figures have been adjusted following the adoption of IFRS 11 Joint arran
Slide 17: Consolidated Income Statement
Consolidated Income Statement 1H15 1H14 FY2014* Consolidated Income Statement (€'000) restated* 242,711 Revenues 181,532 137,596 -3,159 Gross operating result 26,715 5,305 -1.3% Gross operating margin (%) 14.7% 3.9% -18,345 Net operating result (EBIT) 12,774 -210 -7.6% Net operating margin (%) 7.0%
Slide 18: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position Consolidated Statement of Financial Position (€'000) 30/06/15 31/12/14 Non-current assets 186,925 204,730 Net working capital -52,491 -44,135 Gross capital employed 134,434 160,595 Non-current liabilities 18,223 19,240 Net capital employed from continuing
Slide 19: Favourable payment cycle
Favourable payment cycle Main financial clauses in the contractual agreements with organisers: standard contract guarantee (minimum guaranteed) significant advance payments treasury management services on behalf of organisers The Group has structural negative NWC Advance payments minus FM fees
Slide 20: Consolidated Net Financial Position
Consolidated Net Financial Position Consolidated Net Financial Position (€'000) 30/06/15 31/12/14 Cash (including bank balances) 17,190 12,276 Other cash equivalents - - Securities held for trading - - Cash & cash equivalents 17,190 12,276 Current financial assets - - Current bank borrowings 34,192
Slide 21: 2015 financial targets
2015 financial targets Current forecasts are for the positive trend in Italy in the first semester to continue also in the second semester, particularly given the significant exhibitions in the calendar and the contribution from EXPO 2015 However, the performance of foreign exhibitions, particul
Slide 22: Contents
Contents 22
Slide 23: Global market forecast
Global market forecast (US$ bn) 4.5% CAGR 30.2 28.9 27.4 26.4 24.9 7.1 24.2 6.6 5.7 6.2 5.2 5.4 Emerging market size Mature market size 22.3 23.1 19.6 20.7 21.2 19.0 2014 2015F 2016F 2017F 2018F 2019F If the current trend in the macro economy continues, AMR forecasts steady market growth of 4.5% C
Slide 24: Strategy
Strategy The principal strategic aim of Fiera Milano Group is the reinforcement of its leadership position in directly organised exhibitions and trade fairs with high growth potential, including the pursuit of growth through acquisitions of companies, business divisions or exhibition brands that a
Slide 25: Share capital increase
Share capital increase On 31 July 2015 the Shareholders’ Meeting approved a share capital increase for a total maximum amount of Euro 70 million, to be offered to all shareholders of the Company, through the issue of new ordinary shares On 20 July 2015 Fondazione Fiera Milano, the controlling sh
Slide 26: Forward-Looking Statements
Forward-Looking Statements 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 rel
Slide 27: Fiera Milano SpA
Fiera Milano SpA For further information, please contact: Gianna La Rana Investor Relations Manager Camilla Cusi Investor Relations Fiera Milano SpA Strada Statale del Sempione, 28 20017 Rho (Milano) - ITALY Tel: + 39 02 4997.7816/7911 E-mail: investor.relations@fieramilano.it www.fieramilano.it 27