| Consolidated income statement | |||
| (Amounts in €'000) | 2011 | 2010 | 2009 |
| Revenues from sales and services | 278.000 | 248.358 | 297.146 |
| Cost of materials | 2.341 | 2.397 | 3.880 |
| Cost of services | 138.594 | 129.512 | 164.655 |
| Costs for use of 3rd-party assets | 59.904 | 58.971 | 58.250 |
| Personnel expenses | 53.295 | 47.844 | 63.652 |
| Other operating expenses | 6.651 | 6.765 | 8.232 |
| Total operating costs | 260.785 | 245.489 | 298.669 |
| Other income | 13.702 | 17.561 | 21.915 |
| Gross operating result | 30.917 | 20.430 | 20.392 |
| Depreciation and amortisation | 14.044 | 16.101 | 17.354 |
| Allowance for doubtful accounts and other provisions | 1.184 | 1.727 | 4.160 |
| Adjustments to asset values | 171 | 266 | 1.323 |
| Net operating result (EBIT) | 15.518 | 2.336 | -2.445 |
| Financial income/(expenses) | -2.802 | -2.129 | -2.214 |
| Profit/(loss) before income tax | 12.716 | 207 | -4.659 |
| Income tax | 7.567 | -1.867 | -996 |
| Profit/(loss): | 5.149 | 2.074 | -3.663 |
| - attributable to the Shareholders of the controlling entity | 4.927 | 2.192 | -3.363 |
| - attributable to non-controlling interests | 222 | -118 | -300 |
| Key figures |
Full Year at 31/12/2011 |
Full Year at 31/12/2010 |
Full Year at 31/12/2009 |
| (Amounts in €'000, if not otherwise stated) | |||
| Net square metres of exhibition space | 1.817.840 | 1.694.130 | 1.883.150 |
| - In Italy | 1.530.690 | 1.508.735 | 1.709.995 |
| of which related to exhibitions directly organised | 446.665 | 336.465 | 492.325 |
| - Abroad | 287.150 | 185.395 | 173.155 |
| Number of exhibitors | 40.578 | 31.105 | 32.778 |
| - In Italy | 26.865 | 26.760 | 27.925 |
| of which related to exhibitions directly organised | 6.695 | 5.595 | 7.370 |
| - Abroad | 13.713 | 4.345 | 4.853 |
| Number of exhibitions | 95 | 80 | 82 |
| - In Italy | 62 | 61 | 67 |
| - Abroad | 33 | 19 | 15 |
| Number of congesses with related exhibition space in Italy | 35 | 34 | 32 |
| Revenues from sales and services | 278.000 | 248.358 | 297.146 |
| Gross operating result | 30.917 | 20.430 | 20.392 |
| Net operating result (EBIT) | 15.518 | 2.336 | -2.445 |
| Net profit/(loss) | 5.149 | 2.074 | -3.663 |
| Cash flow for the Group and non-controlling interests (a) | 20.548 | 20.168 | 19.174 |
| Net capital employed (b) | 122.886 | 148.532 | 125.459 |
| Net financial debt/(cash) | 52.220 | 84.227 | 62.888 |
| Investments | 33.234 | 6.704 | 10.633 |
| Employees (no. of permanent employees at year end) | 697 | 696 | 765 |
(a) Cash flow is represented by the sum of the result for the financial year, depreciation and amortisation and provisions
(b) Net capital employed is represented by the sum of non current assets, non current liabilities and net working capital
| Reclassified consolidated balance sheet | ||||
| (Amounts in €'000) | 31/12/11 | 31/12/10 | 31/12/09 | |
| A | Non-current assets | 215.617 | 200.430 | 206.997 |
| B | Current assets | 64.581 | 68.915 | 81.013 |
| C | Current liabilities | 129.809 | 96.365 | 136.483 |
| D | Net working capital (B - C | -65.228 | -27.450 | -55.470 |
| E | Gross capital employed (A + D) | 150.389 | 172.980 | 151.527 |
| F | Non-current liabilities | 27.503 | 24.448 | 26.193 |
| G | NET CAPITAL EMPLOYED continuing operations (E - F) | 122.886 | 148.532 | 125.334 |
| H | NET CAPITAL EMPLOYED discontinued operations | - | - | 125 |
| TOTAL NET CAPITAL EMPLOYED (G + H) | 122.886 | 148.532 | 125.459 | |
| I | Total equity | 70.666 | 64.305 | 62.571 |
| L | Net financial position (TOTAL) | 52.220 | 84.227 | 62.888 |
| EQUITY AND NET FINANCIAL POSITION (I + L) | 122.886 | 148.532 | 125.459 |
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