Fiera Milano Spa · MIL:FM
Fiera Milano Spa — H1 2022 Earnings Presentation
25 slides from Fiera Milano Spa's earnings presentation, 2022
Slide 1: Fiera Milano H1 2022 Results
Fiera Milano H1 2022 The European hub for innovative, sustainable and high standing events Results 1 1
Slide 2: Today's Presenters
Today’s Presenters Luca Palermo Andrea Maldi Vincenzo Cecere CEO & General Manager CFO Head of IR & Sustainability ▪ > 1 year in Fiera Milano ▪ 1 year in Fiera Milano ▪ Recently joined Fiera Milano ▪ Prior experience: Borsa Italiana, ▪ Prior experience: Cerved, ▪ Prior experience: Emerge Edenred, Ge
Slide 3: Agenda
AGENDA 1. Executive summary 2. Business review 3. Financial review 4. ESG commitment Appendix 1. Fiera Miano at a glance and FY 2021 results 2. Key investment highlights
Slide 4: Executive summary
Executive summary ▪ With 31 exhibitions held (28 in Italy and 3 abroad) and >30 congress events (o/w 19 with related exhibition area), Business H1 2022 confirms the relaunch of Fiera Milano activities and a well-established restart with high appreciation both overview from participant exhibitors and
Slide 5: A rich calendar of events for 2022
A rich calendar of events for 2022 Detailed events calendar: https://www.fieramilano.it/calendario.html International exhibitions FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Workplace 3.0 Identità golose Salone del Risparmio 5
Slide 6: Agenda
AGENDA 1. Executive summary 2. Business review 3. Financial review 4. ESG commitment Appendix 1. Fiera Miano at a glance and FY 2021 results 2. Key investment highlights
Slide 7: Snapshot of H1 2022 results
Snapshot of H1 2022 results ▪ AMR Globex forecasts that total net square meter volumes for the 2022 Italian exhibition market remain c. 40% lower than 2019. Fiera Milano, as of 30 June 2022 is approx. 32% lower than 2019 net square meter volume at consolidated level ▪ YoY comparison not meaningful d
Slide 8: Italian exhibition business (1/4)
Italian exhibition business (1/4) N. Exhibitions ▪ 28 exhibitions held in H1 2022 (o/w 9 directly managed and 19 hosted), with 690k net sqm occupied and more than 11k participating exhibitors Annual Biennial Multi-year ▪ 6 relevant exhibitions postponed for strategic purposes: BIT (Feb to Apr), Tran
Slide 9: Italian exhibition business (2/4) - Directly managed
Annual Biennial Multi-year Italian exhibition business (2/4) Net sqm N. Participanting exhibitors Event Industry Trend H1 2021 H1 2022 H1 2021 H1 2022 ▪ Home décor, tableware, ▪ Great edition for HOMI 2022, hosting 352 brands, 40% of which ▪ Postponed ▪ 10.955 ▪ Postponed ▪ 225 textiles, essences ca
Slide 10: Italian exhibition business (3/4) - Hosted
Annual Biennial Multi-year Italian exhibition business (3/4) Net sqm N. Participanting exhibitors Event Industry Trend H1 2021 H1 2022 H1 2021 H1 2022 ▪ Leather goods, garments ▪ Over 960 exhibitors from 31 countries welcomed more than ▪ Not taking ▪ 38.635 ▪ Not taking ▪ 950 13,000 visitors, offeri
Slide 11: Italian exhibition business (4/4) - Hosted
Annual Biennial Multi-year Italian exhibition business (4/4) Net sqm N. Participanting exhibitors Event Industry Trend H1 2021 H1 2022 H1 2021 H1 2022 ▪ Kitchen Furniture ▪ Collateral event of Salone del Mobile specialized in built-in ▪ 29.045 ▪ 80 domestic appliances and their evolution - - ▪ Sheet
Slide 12: Foreign Exhibitions Business
Foreign Exhibitions Business ▪ 2 events held in H1 2022 - Exposec (security) which registered the best edition ever N. Exhibitions both in terms of visitors and net sqm occupied (> 10k sqm) and Ecoenergy (renewable technologies) Directly managed Hosted ▪ 5 biennial events postponed from 2020/2021 to
Slide 13: Congresses
Congresses ▪ >30 congress events held in H1 2022 (o/w 19 with related exhibition area) at the MiCo venue – Milano Congressi, one of the largest and most modern conference centre in Europe, with space for approx.18k people, 65 rooms and 50k square meters of exhibition space. Main events held: Salone
Slide 14: Agenda
AGENDA 1. Executive summary 2. Business review 3. Financial review 4. ESG commitment Appendix 1. Fiera Miano at a glance and FY 2021 results 2. Key investment highlights
Slide 15: Income Statement
Income Statement FY FY FY H1 H1 Income Statement (€m) REVENUES: €116.2m, an increase of €111.6m compared to H1 2021 2019 2020 2021 2021 2022 Revenues ▪ 31 exhibitions (28 in Italy and 3 abroad) and >30 congress events held (o/w 19 with related 279.7 73.6 129.8 4.6 116.2 1 exhibition area) 1 Cost of
Slide 16: Balance sheet
Balance sheet Balance Sheet (€m) FY FY FY H1 Net Working Capital: passing from €-86.2m as of December 2021 to €-76.5m as of June 2019 2020 2021 2022 2022 Goodwill 95.0 95.0 95.0 95.0 Intangible assets with a defined useful life 14.6 17.0 18.5 18.0 ▪ Net Working Capital Δ of €9.7m mainly due to the c
Slide 17: Cash flow
Cash flow As of As of Cash Flow (€m) Operating Cash flow of €8.6m as of 30 June 2022, mainly driven by: 31 Dec 2021 30 June 2022 EBITDA 77.1 39.5 ▪ Half yearly EBITDA of €39.5m IFRS16 cash out (47.8) (19.5) ▪ IFRS16 cash out of €19.5m in H1 2022 resulting as the sum of: ▪ the financial impact of the
Slide 18: Excellent financial stability and comfortable liquidity position
Excellent financial stability and comfortable liquidity position Fiera Milano achieved an excellent financial stability in 2021, transforming the Covid-19 emergency into an opportunity to reorganize its financial structure Current assets perfectly cover current liabilities Fixed assets are fully cov
Slide 19: Agenda
AGENDA 1. Executive summary 2. Business review 3. Financial review 4. ESG commitment Appendix 1. Fiera Miano at a glance and FY 2021 results 2. Key investment highlights
Slide 20: ESG commitment
ESG commitment Top Performer ESG Identity ▪ Fiera Milano awarded as Top Performer ESG Identity and ranked first in the Top 3 extra 100 category of the ET.group’s Integrated Governance Index which measures the extent to which sustainability is integrated within corporate strategies ▪ This important r
Slide 21: Agenda
AGENDA 1. Executive summary 2. Business review 3. Financial review 4. ESG commitment Appendix 1. Fiera Miano at a glance and FY 2021 results 2. Key investment highlights
Slide 22: Fiera Milano at a glance
Fiera Milano at a glance The Italian market leader and one of the main integrated operators worldwide in the management and organization of exhibitions and congresses Italian exhibitions Foreign exhibitions Congresses FY 21 FY 21 FY 21 Revenues (%) Revenues (%) Revenues (%) 83% 0.1% 17% ▪ Managing o
Slide 23: Key investment highlights
Key investment highlights Strong commitment to ESG Institutional role with strong heritage culture ▪ ESG themes moving to the top of the agenda with new ▪ Mission critical business for the Italian entrepreneurial fabric framework and strategy integrated in the CONN.E.C.T. 2025 plan ▪ Strategic partn
Slide 24: 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
Slide 25: Website and contacts
WEBSITE:https://investors.fieramilano.it/en C O N TA C T S : i n v e s t o r . r e l a t i o n s @ f i e r a m i l a n o . i t