Fiera Milano Spa · MIL:FM
Fiera Milano Spa — Q3 2019 Earnings Presentation
18 slides from Fiera Milano Spa's earnings presentation, Nov 14, 2019
Slide 1: Fiera Milano Group 3rd Quarter 2019 Consolidated Results
FIERA MILANO GROUP rd 3 Quarter 2019 Consolidated Results CONFERENCE CALL – 14 November 2019
Slide 2: Contents
Contents 1. Highlights 2. Financial Results 3. Business outlook
Slide 3: 1. Highlights
1. Highlights FIERA MILANO.
Slide 4: Highlights
1.1 Highlights of which of which IFRS 16 Key figures (€m) 3Q19 impact 3Q18 3Q17 Key figures (€m) 9M19 IFRS 16 9M18 9M17 impact Revenues 30.1 35.6 43.5 Revenues 183.9 193.3 177.4 EBITDA 2.0 11.8 (5.0) (11.2) EBITDA 64.4 36.0 41.1 0.7 EBIT (9.2) 1.9 (6.5) (12.9) EBIT 30.4 5.9 36.6 (4.5) Profit/loss be
Slide 5: 2. Financial Results
2. Financial Results FIERA MILANO.
Slide 6: Italian Exhibitions
2.1 Italian Exhibitions Exhibitions (Net sq. Metres) Directly organised Organised by 3rd parties 3Q19 33,255 116,620 3Q18 40,145 156,210 Total annual exhibitions 149,875 196,355 Total exhibitions 149,875 196,355 Congresses with related exhibition area 8,245 11,675 Total 158,120 208,030 • Traditional
Slide 7: Italian Exhibition Business
2.2 Italian Exhibition Italian Exhibition Business Revenues (€m) EBITDA (€m) 3Q19 22.9 (0.6) 3Q18 29.1 (5.7) 9M19 152.1 51.7 9M18 167.7 37.3 % on revenues -2.6% -19.5% 34.0% 22.2% Business EBIT (€m) % on revenues (10.4) -45.5% (6.7) -22.8% 21.7 14.3% 34.4 20.5% • The year-on-year change in quarterly
Slide 8: Foreign Exhibition Business
2.3 Foreign Exhibition Foreign Exhibition Business Revenues (€m) EBITDA (€m) 3Q19 0.2 1.0 3Q18 2.3 2.1 9M19 3.3 3.5 9M18 5.0 3.9 % on revenues 461.3% 89.9% 104.9% 78.4% Business EBIT (€m) % on revenues 0.9 406.6% 2.0 86.0% 3.1 94.4% 3.6 72.6% • 147,445 net square metres of exhibition space covered i
Slide 9: Media
2.4 Media Media 3Q19 3Q18 9M19 9M18 Revenues (€m) 1.9 2.3 7.7 8.5 EBITDA (€m) (0.1) 0.1 0.7 0.7 % on revenues -7.1% 3.0% 8.8% 8.7% EBIT (€m) (0.2) 0.0 0.5 0.5 % on revenues -10.0% 0.2% 6.6% 6.4% • The year-on-year change in revenues and results for the quarter was due to the different exhibition cal
Slide 10: Congresses
2.5 Congresses Congresses 3Q19 3Q18 9M19 9M18 Revenues (€m) 6.2 3.3 27.3 18.8 EBITDA (€m) 1.8 (1.5) 8.6 (0.9) % on revenues 29.4% -45.2% 31.4% -4.7% EBIT (€m) 0.6 (1.8) 5.0 (1.9) % on revenues 10.0% -55.5% 18.4% -10.2% • The year-on-year increase in quarterly revenues and results mainly reflected th
Slide 11: Net Financial Position
2.6 Net Financial Position 31/12/18 Consolidated Net Financial Position (€m) 30/09/19 30/06/19 28.4 Cash & cash equivalents 51.6 57.8 0.0 Current financial assets 1.4 2.3 0.0 Current bank borrowings 0.0 0.0 3.5 Current portion of non-current debt 0.8 1.5 1.3 Other current financial liabilities 0.6 0
Slide 12: 3. Business outlook
3.0 Business outlook FIERA MILANO.
Slide 13: Business Outlook
3.1 Business Outlook • The positive operating performance was also confirmed by exhibitions held in Italy after the end of the quarter, particularly the biennial HOST exhibition The favourable trend in exhibitions allows the 2019 EBITDA to be estimated in the upper part of the range, announced previ
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 Data a
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) 3Q19 3Q18 9M19 9M18 Revenues 30.1 35.6 183.9 193.3 Cost of materials 0.3 0.4 1.7 1.9 Cost of services 18.9 19.2 85.5 83.9 Costs for use of 3rd-party assets 0.1 12.4 0.4 37.8 Personnel expenses 10.3 10.4 34.5 33.6 Other operatin
Slide 18: Financial overview – Statement of Financial Position
Financial overview – Statement of Financial Position Consolidated Statement of Financial Position (€m) 30/09/19 31/12/18 Non-current assets 630.2 148.4 Net working capital (90.7) (73.1) Gross capital employed 539.5 75.3 Non-current liabilities 17.1 16.9 Total net capital employed 522.4 58.4 Equity 9