Fiera Milano Spa · MIL:FM
Fiera Milano Spa — FY2018 Earnings Presentation
17 slides from Fiera Milano Spa's earnings presentation, Mar 12, 2019
Slide 1: FY2018 Consolidated Results
FY2018 Consolidated Results FIERA MILANO GROUP CONFERENCE CALL – 12 March 2019
Slide 2: Contents
CONTENTS Highlights Financial Results Business outlook 2
Slide 3: 2018 Highlights
2018 HIGHLIGHTS In 2018 strong improvement of consolidated economic and financial results despite a less favourable exhibition calendar Revenues: Euro 247.2 million (Euro 256.3 million in 2017) EBITDA: Euro 31.9 million, more than doubled compared to 2017, and higher than the target of Euro 28-3
Slide 4: Contents
CONTENTS Highlights Financial Results Business outlook 4
Slide 5: Italian Exhibition Business
ITALIAN EXHIBITION BUSINESS Exhibition space rented out ('000 net sq.m.) 1,517 1,505 1,285 154 436 254 267 Multi-year exhibitions Biennial exhibitions 1,031 1,081 1,084 Annual exhibitions FY16 FY17 FY18 % of directly organised exhibitions 14% 32% 14% • Annual exhibitions: general positive performanc
Slide 6: Italian Exhibition Business
ITALIAN EXHIBITION BUSINESS FY17 Italian Exhibition Business FY18 restated* Revenues (€m) 200.3 206.4 EBITDA (€m) 23.8 11.5 % on revenues 11.9% 5.6% EBIT (€m) 20.0 5.3 % on revenues 10.0% 2.6% * The figures for 2017 reflect the application of the new standard IFRS 15 from 1 January 2018. • The 2018
Slide 7: Foreign Exhibition Business
FOREIGN EXHIBITION BUSINESS Foreign Exhibition Business FY18 FY17 Revenues (€m) 7.8 5.1 EBITDA (€m) 3.7 0.1 % on revenues 47.2% 1.6% EBIT (€m) 3.3 (0.4) % on revenues 42.1% -8.6% • 466,795 net square meter (+9.4% vs 2017) • The 2018 increase in revenues mainly reflected the presence of the biennial
Slide 8: Media
MEDIA Media FY18 FY17 Revenues (€m) 11.3 10.8 EBITDA (€m) 0.6 0.4 % on revenues 4.9% 3.8% EBIT (€m) (0.6) (1.2) % on revenues -5.5% -11.0% • The 2018 increase in revenues and results were due to higher billboard advertising for the presence of Mostra Convegno Expocomfort, sponsorship revenues and di
Slide 9: Congresses
CONGRESSES FY17 Congresses FY18 restated* Revenues (€m) 37.7 46.2 EBITDA (€m) 3.8 3.0 % on revenues 10.2% 6.5% EBIT (€m) 2.5 1.7 % on revenues 6.5% 3.7% * The figures for 2017 reflect the application of the new standard IFRS 15 from 1 January 2018. • The 2018 trend in revenues reflected the absence
Slide 10: Net Financial Position
NET FINANCIAL POSITION Consolidated Net Financial Position (€m) 31/12/18 31/12/17 Cash & cash equivalents 28.4 17.9 Current financial assets 0.0 2.8 Current bank borrowings 0.0 0.7 Current portion of non-current debt 3.5 16.6 Other current financial liabilities 1.3 0.7 Current financial debt 4.8 18.
Slide 11: Contents
CONTENTS Highlights Financial Results Business outlook 11
Slide 12: Business Outlook
BUSINESS OUTLOOK The business trend and management efficiencies have led to an upgrade of the target for full-year 2019 EBITDA of Euro 31-33 million of the 2018-2022 Strategic Plan: this is now expected to be in the range of Euro 36-40 million The Group has adopted the new IFRS 16 “Leasing” appl
Slide 13: Forward-Looking Statement
FORWARD-LOOKING STATEMENT Data and information herewith set forth are extracted from the press release relating to Fiera Milano Consolidated Results to 31 December 2018 filed with the Italian authorities regulating exchanges and securities and disseminated concomitantly with this presentation. This
Slide 14: 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
Slide 15: Back-up
BACK-UP 15
Slide 16: Financial Overview – Income Statement
FINANCIAL OVERVIEW – INCOME STATEMENT Consolidated Income Statement (€m) FY18 FY17 restated* Revenues 247.2 256.3 Cost of materials 2.4 3.2 Cost of services 114.1 133.3 Costs for use of 3rd-party assets 50.3 49.9 Personnel expenses 47.0 48.9 Other operating expenses 4.5 5.4 Total operating costs 218
Slide 17: Financial Overview – Statement of Financial Position
FINANCIAL OVERVIEW – STATEMENT OF FINANCIAL POSITION Consolidated Statement of Financial Position (€m) 31/12/18 31/12/17 Non-current assets 148.4 151.5 Net working capital (73.1) (74.3) Gross capital employed 75.3 77.3 Non-current liabilities 16.9 13.4 Total net capital employed 58.4 63.8 Equity 82.