Fiera Milano Spa · MIL:FM
Fiera Milano Spa — Q1 2025 Earnings Presentation
22 slides from Fiera Milano Spa's earnings presentation, May 13, 2025
Slide 1: Fiera Milano Results as of 31 March 2025
Fiera Milano Results as of 31 March 2025 13 May 2025
Slide 2: Today's Speakers
TODAY’S SPEAKERS FRANCESCO CONCI MASSIMO DE TULLIO VINCENZO CECERE Head of Investor Relations, CEO & General Manager Chief Financial Officer Sustainability & Management System > 20 years in Fiera Milano 6 years in Fiera Milano 3 years in Fiera Milano Relevant experience: Relevant experience: R
Slide 3: Agenda
AGENDA 01 04 EXECUTIVE ESG SUMMARY ACHIEVEMENTS 02 BUSINESS REVIEW Appendix 03 FINANCIAL REVIEW
Slide 4: Executive Summary
EXECUTIVE SUMMARY
Slide 5: Delivering consistent performance despite a quarterly negative calendar effect
DELIVERING CONSISTENT PERFORMANCE DESPITE A QUARTERLY NEGATIVE CALENDAR EFFECT ORGANIZED HOSTED CONGRESSES SERVICES CONSISTENT + 4% + 4% + 27% + 7% LIKE-FOR-LIKE REVENUE GROWTH ACROSS ALL BUSINESS LINE… Odd year quarter REVENUES (€m) EBITDA (€m) NET INCOME (€m) NET CASH (€m) Continuing operations Ev
Slide 6: Strong confidence in 2025 EBITDA guidance (€110-120M)
New event STRONG CONFIDENCE IN 2025 EBITDA GUIDANCE (€110-120M) Biennial BACKED BY A FAVORABLE ODD-YEAR CALENDAR AND NEW EVENTS Multi-year JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 6
Slide 7: Expanding the integrated services offering with the acquisition of Expotrans
EXPANDING THE INTEGRATED SERVICES OFFERING WITH THE ACQUISITION OF EXPOTRANS Overview Revenues breakdown EVENT LOGISTICS SHIPMENTS FOR EXHIBITIONS Leading company in Italy in logistics services for 43% 34% exhibitions, congresses and international events Revenues 2024: €28.7m Expotrans EBITDA
Slide 8: Accelerating the sustainability roadmap by launching two sustainability linked loans
ACCELERATING THE SUSTAINABILITY ROADMAP BY LAUNCHING TWO SUSTAINABILITY LINKED LOANS Fiera Milano integrates sustainable finance into its strategy by signing two five-year loans, structured as Sustainability-Linked Loans (“SLL”), each worth Euro 10 million, with Crédit Agricole Italia and Banco BPM,
Slide 9: Business Review
BUSINESS REVIEW
Slide 10: Snapshot of divisional results – legal entities view
SNAPSHOT OF DIVISIONAL RESULTS – LEGAL ENTITIES VIEW Δ The Revenue performance is primarily attributable to the different exhibition calendar, particularly A Italian Exhibition Q1 2024 Q1 2025 Business (€) the absence of the biennial event Mostra Convegno Expocomfort, which takes place in even- nu
Slide 11: Revenue growth contribution - business line view
REVENUE GROWTH CONTRIBUTION - BUSINESS LINE VIEW Q1 2025 vs Q1 2024 (-) CALENDAR EFFECT: € (14,2)m (+) PERFORMANCE EFFECT €5.5m -8.7m (meaning a like-for-like growth of +10% vs Q1 2024) € 72.4m +0.5 -7.5 € 63.7m -5.0 +2.2 0.0 +0.3 -0.5 +1.3** Area revenues growth (net of calendar effect): +4% Revenu
Slide 12: Fiera Milano Q1 2025 SQM growth champions
FIERA MILANO Q1 2025 SQM GROWTH CHAMPIONS SELECTED ITALIAN EXHIBITIONS ORGANIZED SQM (k) SQM GROWTH % HOSTED SQM (k) SQM GROWTH % Q1 2025/ last edition Q1 2025/ last edition +5% 48 29 +5% + 27 46 Q1 2024 Q1 2025 Q1 2024 Q1 2025 +8% 39 +25% 19 31 17 Q1 2024 Q1 2025 Spring edition Q1 2024 Q1 2025 32 +
Slide 13: Financial Review
FINANCIAL REVIEW
Slide 14: Income Statement
INCOME STATEMENT Q1 Q1 Δ Consolidated Income Statement (€m) 2024 2025 Q1 25/24 1 Revenues 1 Revenues: decreased from Euro 72.4m in Q1 2024 to Euro 63.7m in Q1 2025, showing a reduction of Euro 72.4 63.7 -8.7 (8.7)m. This change is mainly due to: Cost of materials 0.7 0.9 0.2 Positive performance
Slide 15: Balance Sheet and Cash Flow
BALANCE SHEET AND CASH FLOW As of As of Δ Balance Sheet (€m) 31 Dec 31 Mar 31 Mar 2025/ 2024 2025 31 Dec 2024 Goodwill 95.0 95.0 0.0 Intangible assets with a finite useful life 9.0 8.2 -0.8 Right-of-use assets 308.6 320.1 11.5 Net Working Capital goes from Euro (85.9)m at 31/12/2024 to Euro (120.9
Slide 16: Guidance
GUIDANCE CONFIRMED In 2027 Fiera Milano expects to achieve: Millions of euros 2025 2026 2027 Revenues between Euro 355 and 375 million Revenues 320-340 305-325 355-375 An estimated EBITDA between Euro 120 and 130 million EBITDA 110-120 90-100 120-130 Over the 2024-2027 plan period, total inves
Slide 17: ESG Commitment
ESG COMMITMENT
Slide 18: ESG Scorecard 2024
ESG SCORECARD 2024 Environment Social Governance As of 31/12/2024 Total CO2 emissions (tCO2eq) % Renewable sources used Employees Diversity: % female manager Board independence Board diversity -42% + 27 p.p 672 56% 22% 78% 49% 46% Female 42% Independent 24,951 65% +5% vs 2023 Non-independent Male 17
Slide 19: Appendix 1: Exhibitions Details
APPENDIX 1 EXHIBITIONS DETAILS
Slide 20: Exhibitions and Congresses in Q1 2025
EXHIBITIONS AND CONGRESSES IN Q1 2025 (A) = Annual (B) = Biennial (M) = Muti-year Manifestazioni Italia – metri Net square meters quadrati Italian Exhibitions Q1 2024 Q1 2025 Directly Organized - Bit (A) 17,225 18,585 - Milano Home (A) 19,675 20,670 - Milano Fashion&Jewels (I semestre) (A) 12,760 11
Slide 21: Thank you
Thank you CONTACTS: Investor relations: investor.relations@fieramilano.it Sustainability: sustainability@fieramilano.it Investor Relations NEXT https://investors.fieramilano.it/en CORPORATE Sustainability EVENTS: www.fieramilano.it/en/sustainability.html 2025 Exhibition Calendar www.fieramilano.it/e
Slide 22: Disclaimer
Disclaimer This presentation and any materials distributed in connection herewith (together, the “Presentation”) do not constitute or form a part of, and should not be construed as, an offer for sale or subscription of or solicitation of any offer to purchase or subscribe for any securities, and nei