Fiera Milano Spa · MIL:FM
Fiera Milano Spa — Q1 2021 Earnings Presentation
18 slides from Fiera Milano Spa's earnings presentation, May 10, 2021
Slide 1: Fiera Milano Group 1st Quarter 2021 Consolidated Results
FIERA MILANO GROUP st 1 Quarter 2021 Consolidated Results CONFERENCE CALL – 10 May 2021
Slide 2: Contents
Contents 1. Highlights 2. Financial results 3. Business outlook
Slide 3: Highlights
1.0 Highlights FIERA MILANO
Slide 4: Highlights
1.1 Highlights ▪ Q1 2021 results reflected the suspension of exhibition activities due to the COVID-19 pandemic Although business was suspended in ▪ The lack of revenues negatively affected profitability and led the first quarter in Italy, Fiera Milano has to a loss before tax of Euro 23.2m laid the
Slide 5: Financial results
2.0 Financial results FIERA MILANO
Slide 6: Italian exhibition business
2.1 Italian Italian Exhibition Business (€m) Q1 2021 Q1 2020 (*) Revenues 0.9 42.3 exhibition EBITDA % on revenues (8.6) neg. 15.1 35.6% EBIT (18.5) 5.2 business % on revenues neg. 12.2% • Revenues were affected by the suspension of the business due to COVID-19 restrictions. The exhibition calendar
Slide 7: Foreign exhibition business
2.2 Foreign Foreign Exhibition Business (€m) Q1 2021 Q1 2020 (*) exhibition Revenues EBITDA 0.0 0.1 1.1 (0.1) % on revenues n.m. neg. business EBIT % on revenues 0.0 n.m. (0.2) neg. • The contraction in revenues reflected the effect of Covid-19 on exhibition calendar in Brazil and South Africa • The
Slide 8: Media
2.3 Media Media (€m) Q1 2021 Q1 2020 (*) Revenues 0.3 2.1 EBITDA (0.5) (0.2) % on revenues neg. neg. EBIT (0.5) (0.3) % on revenues neg. neg. • The change in revenue was due to the cancellation of exhibitions during the quarter • The change in margins was primarily due to the trend in revenues • In
Slide 9: Congresses
2.4 Congresses Congresses (€m) Q1 2021 Q1 2020 (*) Revenues 0.5 4.0 EBITDA (0.9) 0.3 % on revenues neg. 8.5% EBIT (2.1) (0.9) % on revenues neg. neg. • The decline in revenues was due to the absence of events as a result of the suspension of congress activities • The change in EBITDA was primarily d
Slide 10: Net Financial Position
2.5 Net Financial Position Consolidated Net Financial Position (€m) 31/03/2021 31/12/2020 Cash & cash equivalents 71.0 20.4 Current financial assets 1.3 1.3 Current bank borrowings 49.0 49.0 Current portion of non-current debt 0.0 0.0 Other current financial liabilities 1.1 1.7 Current financial deb
Slide 11: Business outlook
3.0 Business outlook FIERA MILANO
Slide 12: Business outlook (1)
3.1 Business outlook (1) ▪ On April 22, the Italian’s Government approved a decree (“Reopening Decree”) gradually easing Italy's COVID-19 restrictions. ▪ The decree, which will be in force from Monday 26 April until the end of July, reintroduces a lower-risk area (called yellow zones), where measure
Slide 13: Business outlook (2)
3.1 Business outlook (2) ▪ This scenario takes into account that the impact on operating margins from the lower turnover expected from the 2021 edition of the Salone del Mobile and, prudently, from other scheduled exhibitions, can be offset by the effects of: ✓ cost containment actions ✓ government
Slide 14: 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 15: For further information, please contact: Investor Relations Department
For further information, please contact: Investor Relations Department Tel +39 02.4997.7816/7911 email: investor.relations@fieramilano.it Fiera Milano S.p.A. S.S. del Sempione 28 20017 Rho (Milano) - Italia www.fieramilano.it
Slide 16: Back-up
BACK-UP FIERA MILANO
Slide 17: Financial overview – Income Statement
Financial overview – Income Statement Consolidated Income Statement (€m) Q1 2021 Q1 2020 (*) Revenues 1.5 47.6 Cost of materials 0.0 0.6 Cost of services 5.8 20.8 Costs for use of 3rd-party assets 0.1 0.2 Personnel expenses 7.6 10.8 Other operating expenses 0.4 0.7 Total operating costs 13.9 33.1 Ot
Slide 18: Financial overview – Reclassified Statement of Financial Position
Financial overview – Reclassified Statement of Financial Position Reclassified Consolidated Statement of Financial Position (€m) 31/03/2021 31/12/2020 Non-current assets 583.0 593.8 Net working capital (29.2) (35.4) Gross Capital Employed 553.8 558.4 Non current liabilities 21.0 21.7 Total net Capit