IEG shareholders confirm company Net loss of €11.3m for 2020

A shareholders' meeting of the Italian Exhibition Group (IEG), 29 April, approved financial statements for the year ending 31 December 2020 – including a Net loss of €11.3m - and appointed a Board of Directors which subsequently confirmed Lorenzo Cagnoni (pictured) as president and Corrado Arturo Peraboni as chief executive officer.

The shareholders’ meeting resolved to carry forward in full the loss for the 2020 financial year of €12.6m. Total revenues of €79.8m were declared for the year, representing a 55.3% drop on the figure for 2019.

EBITDA was €1.8m, compared to €41.9m in 2019. Net loss attributable to the shareholders of the parent company for the latest period was €11.3m, compared to a profit of €12.9m in the previous year.

The shareholders’ meeting also approved policy on the remuneration of the board of directors and managers. The Board confirmed Daniela della Rosa as lead independent director and set up a Control and Risk Committee composed of Della Rosa, Alessandra Bianchi and Simona Sandrini, as well as an Appointments and Remuneration Committee composed of directors Maurizio Renzo Ermeti, Valentina Ridolfi and Andrea Pellizzari.

A Supervisory Board was confirmed in its previous composition and a Sustainability Report for the year 2020 was drawn up. All official statements are available at the company’s website,