Fiera Milano Spa · MIL:FM

Fiera Milano Spa — Q1 2019 Earnings Presentation

19 slides from Fiera Milano Spa's earnings presentation, May 8, 2019

  1. Slide 1: 1st Quarter 2019 Consolidated Results

    1st Quarter 2019 Consolidated Results ​FIERA MILANO GROUP CONFERENCE CALL – 8 May 2019

  2. Slide 2: Contents

    CONTENTS Highlights Financial Results Business outlook 2

  3. Slide 3: Highlights

    HIGHLIGHTS In the first quarter 2019, a positive business performance, in line with expectations and far higher than the 2017 comparable year, significantly offset the less favourable exhibition calendar of the period  Net exhibition space occupied in Italy: 478,450 square metres (30% from directly

  4. Slide 4: Event after the end of the period

    EVENT AFTER THE END OF THE PERIOD  Today Fiera Milano and the Controlling Shareholder Fondazione Fiera Milano, owner of the exhibition sites, reached an agreement on the rental fee of the fieramilanocity exhibition site  The rental fee will be reduced by Euro 1.5 million a year, on the current ren

  5. Slide 5: Contents

    CONTENTS Highlights Financial Results Business outlook 5

  6. Slide 6: IFRS 16 Impact

    IFRS 16 IMPACT  As of 1 January 2019, the new IFRS 16 Leases accounting standard eliminates the distinction between operating leases and finance leases for a lessee  As allowed by the standard, the comparative periods have not been restated (modified retrospective approach) IMPACT ON BALANCE SHEET

  7. Slide 7: Italian Exhibitions

    ITALIAN EXHIBITIONS Net sq. metres of exhibition space Exhibitions 1Q19 1Q18 Directly organised 93,050 115,360 Organised by 3rd parties 278,310 284,145 Total annual exhibitions 371,360 399,505 Directly organised 51,150 - Organised by 3rd parties 45,935 118,855 Total biennial exhibitions 97,085 118,8

  8. Slide 8: Italian Exhibition Business

    ITALIAN EXHIBITION BUSINESS Italian Exhibition Business 1Q19 1Q18 Revenues (€m) 63.0 69.8 EBITDA (€m) 24.6 18.2 % on revenues 39.1% 26.0% EBIT (€m) 14.5 17.2 % on revenues 23.1% 24.6% • The trend of revenues is mainly attributable to the exhibition calendar • The trend of EBITDA is primarily related

  9. Slide 9: Foreign Exhibition Business

    FOREIGN EXHIBITION BUSINESS Foreign Exhibition Business 1Q19 1Q18 Revenues (€m) 0.8 0.9 EBITDA (€m) 2.3 1.8 % on revenues 286.5% 199.9% EBIT (€m) 2.2 1.7 % on revenues 271.8% 188.5% • 4 exhibitions (unchanged compared to 1Q18) and 95,410 net square metres of exhibition space occupied in 1Q19 (97,845

  10. Slide 10: Media

    MEDIA Media 1Q19 1Q18 Revenues (€m) 2.7 2.9 EBITDA (€m) 0.3 0.1 % on revenues 9.5% 2.8% EBIT (€m) 0.2 0.0 % on revenues 7.3% 0.5% • The trend in revenues was mainly attributable to lower billboard advertising because of the different exhibition calendar • The improvement of margins was mainly due to

  11. Slide 11: Congresses

    CONGRESSES Congresses 1Q19 1Q18 Revenues (€m) 6.9 6.5 EBITDA (€m) 1.8 (0.4) % on revenues 25.7% -5.5% EBIT (€m) 0.6 (0.7) % on revenues 8.7% -10.8% • The year-on-year increase in quarterly revenues reflected the presence of important international congresses and conventions • EBITDA benefitted from

  12. Slide 12: Net Financial Position

    NET FINANCIAL POSITION Consolidated Net Financial Position (€m) 31/03/19 31/12/18 Cash & cash equivalents 61.1 28.4 Current financial assets 2.1 0.0 Current bank borrowings 0.0 0.0 Current portion of non-current debt 2.5 3.5 Other current financial liabilities 0.6 1.3 Current financial debt 3.1 4.8

  13. Slide 13: Contents

    CONTENTS Highlights Financial Results Business outlook 13

  14. Slide 14: Business Outlook

    BUSINESS OUTLOOK  The positive performance of operations, also supported by the results of the exhibitions held in Italy after the end of the quarter, made it possible to confirm the EBITDA target in the range of Euro 84-88 million for the whole 2019 14

  15. Slide 15: Forward-Looking Statement

    FORWARD-LOOKING STATEMENT Data and information herewith set forth are extracted from the press release relating to Fiera Milano Consolidated Interim Management Report to 31 March 2019 filed with the Italian authorities regulating exchanges and securities and disseminated concomitantly with this pres

  16. Slide 16: 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

  17. Slide 17: Back-up

    BACK-UP 17

  18. Slide 18: Financial Overview – Income Statement

    FINANCIAL OVERVIEW – INCOME STATEMENT Consolidated Income Statement (€m) 1Q19 1Q18 Revenues 71.0 77.3 Cost of materials 0.6 0.8 Cost of services 29.7 32.8 Costs for use of 3rd-party assets 0.2 12.4 Personnel expenses 12.8 12.8 Other operating expenses 1.3 1.1 Total operating costs 44.7 59.9 Other in

  19. Slide 19: Financial Overview – Statement of Financial Position

    FINANCIAL OVERVIEW – STATEMENT OF FINANCIAL POSITION Consolidated Statement of Financial Position (€m) 31/03/19 31/12/18 Non-current assets 664.9 148.4 Net working capital (97.6) (73.1) Gross capital employed 567.3 75.3 Non-current liabilities 16.8 16.9 Total net capital employed 550.5 58.4 Equity 9

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