Fiera Milano Spa · MIL:FM
Fiera Milano Spa — H1 2011 Earnings Presentation
20 slides from Fiera Milano Spa's earnings presentation, Jul 29, 2011
Slide 1: Fiera Milano Group 1st Half 2011 Consolidated Results
Fiera Milano Group 1st Half 2011 Consolidated Results Conference Call – 29 July 2011
Slide 2: Contents
Contents • Highlights and Achievements • Financial Results • Business Outlook 2
Slide 3: Highlights
Highlights Fiera Milano 1st half 2011 results in line with targets of the 2011-2014 Industrial Plan In Italy exhibition space at 722,875 net square meters, compared to 922,490 in 1H10, mainly reflecting the absence of MostraConvegno Expocomfort and the postponement of Made Expo (for a total of c
Slide 4: Achievements
Achievements Results consistent with the strategic priorities of the 2011-2014 Industrial Plan Completion of the merger of the subsidiary Rassegne into the parent company to ensure further f h business b growthh and d greater operating efficiency Exhibitions Increased profitability of Macef (lifesty
Slide 5: Achievements
Achievements On 24 June the Board of Directors approved the merger by incorporation of the 100%-owned subsidiaries, Expopage SpA Media and Business International SpA , into Fiera Milano Editore SpA to provide an integrated offer to the market In July the Parent Company started an exit procedure for
Slide 6: Contents
Contents • Highlights and Achievements • Financial Results • Business Outlook 6
Slide 7: New Operating Segments
New Operating Segments Exhibitions Rent of space and related services to exhibition organisers and direct organisation of exhibitions Services Congresses Stand fitting services Management of conventions and congresses Media A multimedia and multi-channel communications system including printed publi
Slide 8: Italian Exhibition Calendar
Italian Exhibition Calendar Net sq. metres N. exhibitors ('000) of exhibition space Exhibitions 1H11 1H10 1H11 1H10 Annual exhibitions Directly organised 176,180 191,125 2,660 2,800 Organised by 3rd parties 390,800 481,815 6,395 7,560 Total annual exhibitions 566,980 672,940 9,055 10,360 Biennial ex
Slide 9: Foreign Exhibition Calendar
Foreign Exhibition Calendar Net sq. q metres N exhibitors N. ('000) of exhibition space Exhibitions 1H11 1H10 1H11 1H10 Annual exhibitions Directly organised in China 65,195 57,265 1,352 1,400 Directly organised in Brazil 24,025 0 609 0 Total annual exhibitions 89 220 89,220 57 265 57,265 1 961 1,96
Slide 10: Exhibitions
Exhibitions Exhibitions 1H11 1H10 Revenues (€'000) 115,548 125,169 Gross operating result (€'000) 15,846 17,418 % on revenues 13.7% 13.9% Net operating result (€'000) 14,130 13,708 % on revenues 12.2% 11.0% 1H11 revenues negatively affected by the different Italian exhibition calendar but positively
Slide 11: Services
Services Services 1H11 1H10 Revenues (€'000) 17,621 17,264 Gross operating result (€'000) 1,317 2,034 % on revenues 7.5% 11.8% Net operating result (€'000) 72 955 % on revenues 0.4% 5.5% Lower gross operating result reflects a less favourable sales mix 11 Gross of adjustments for inter-segment trans
Slide 12: Media
Media Media 1H11 1H10 Revenues (€'000) 10,201 11,762 Gross operating result (€'000) 879 1,863 % on revenues 8.6% 15.8% Net operating result (€'000) (152) 769 % on revenues -1.5% 6.5% Lower results due to lower sales of advertising and on-line services stemming from the different exhibition calendar
Slide 13: Congresses
Congresses Congresses 1H11 1H10 Revenues (€'000) 14,425 8,847 Gross operating result (€'000) 1,978 327 % on revenues 13.7% 3.7% Net operating result (€'000) 1,153 (551) % on revenues 8.0% -6.2% Strong improvement in sales and margins from the new congress centre, MiCo, MiC following f ll i its i ina
Slide 14: Consolidated Income Statement
Consolidated Income Statement FY10 Income Statement (€'000) 1H11 1H10 248,358 Revenues 139,565 148,096 20,430 Gross operating result 20,020 21,642 8.2% Gross operating margin (%) ( ) 14.3% 14.6% 2,336 Net operating result (EBIT) 15,272 14,931 0.9% Net operating margin (%) 10.9% 10.1% 207 Profit befo
Slide 15: Consolidated Balance Sheet
Consolidated Balance Sheet Balance Sheet (€'000) 30/06/11 31/12/10 Non-current assets 211,768 200,430 Net working capital (42,494) (27,450) Gross capital employed 169,274 172,980 Non-current liabilities 27,388 24,448 T t l nett capital Total it l employed l d 141 886 141,886 148 532 148,532 Net equi
Slide 16: Net Financial Position
Net Financial Position Net Financial Position (€'000) 30/06/11 31/12/10 Cash (including bank balances) 19,041 22,692 Other cash equivalents - - Securities held for trading - - Cash & cash equivalents 19,041 22,692 Current financial assets 4,029 3,905 Current bank payables 69,868 106,797 Current port
Slide 17: Contents
Contents • Highlights and Achievements • Financial Results • Business B i Outlook O tl k 17
Slide 18: Business Outlook
Business Outlook In accordance with the strategic guidelines of the 2011-2014 Industrial Plan, the Group will continue the initiatives aimed at strengthening the exhibition portfolio and increasing internationalisation Barring any unforeseen events beyond the control of the Group, Group the first se
Slide 19: Forward-Looking Statements
Forward--Looking Statements Forward Data and information herewith set forth are extracted from Fiera Milano press release related to Half-year Financial Report at 30 June 2011 filed with Italian authorities regulating exchanges and securities and disseminated concomitantly with this presentation. Th
Slide 20: For further information, please contact
For further information, information please contact: Gianna La Rana Investor Relations Manager Camilla Cusi Investor Relations Fiera Milano SpA Strada Statale del Sempione, 28 20017 Rho (Milano) - ITALY Tel: + 39 02 4997.7816/7911 E-mail: investor.relations@fieramilano.it @ www.fieramilano.it