FIERA MILANO: THE BOARD OF DIRECTORS APPROVES THE CONSOLIDATED RESULTS AS AT 31 MARCH 2023

Milan, 10 May 2023 – The Board of Directors of Fiera Milano S.p.A. (“Fiera Milano” and/or the “Company") today approved the results as at 31 March 2023.  

• Revenues of Euro 48.1 million, an improvement of Euro 24.6 million compared to the first quarter of 2022

• EBITDA of Euro 8.9 million, an improvement of Euro 11.2 million compared to the first quarter of 2022

• Net profit of Euro 8.4 million, compared to a loss of Euro 13.0 million recorded in the first quarter of 2022

• Net Financial Position before IFRS 16 effects: net financial availability as at 31 March 2023 equal to Euro 37.5 million, an improvement on the net financial availability of Euro 29.8 million as at 31 December 2022.

The Chief Executive Officer and General Manager of Fiera Milano, Francesco Conci, commented: “The first months of 2023 confirm the relaunch of our activities and a well-established restart. The exhibitions that took place in the first quarter and the results in terms of participation and attendance show the appreciation of both exhibitors and visitors. All of this confirms the importance of trade fair events which play a fundamental role in the development of companies. In particular, the excellent results obtained by the events in the fashion industry and the relaunch of Borsa Internazionale del Turismo allow us to look ahead to 2023 in a positive way. We look to the future with confidence, aware that there are still some elements of uncertainty related to the macroeconomic context and international geopolitical scenarios. Despite this, Fiera Milano continues to consider 2023 as a year of development and consolidation, expecting to reach an EBITDA target of Euro 70-80 million by the end of the year''.