The Italian Exhibition Group (IEG) S.p.A.’s Board of Directors has approved consolidated financial statement at 31 December 2019 which show the best results ever in absolute terms of revenues, EBITDA and net profit.
Total consolidated revenues for 2019 were €178.6m (+11.8% compared to 2018); EBITDA reached €41.9m (+35.7%), while the net result of the Group came to €12.6m (+16,1%).
In this time of huge uncertainty, IEG says it is “constantly flanking its Customers and the Market to plan their economic recovery together after Covid-19”.
President of IEG, Lorenzo Cagnoni, and Chief Executive Officer, Corrado Peraboni said the financial results would now be submitted for approval at the group’s Shareholders’ meeting in June.
IEG’s Board said that the results, despite a less favourable tradeshow calendar, which, in odd numbered years, does not include the Tecnargilla and IBE shows, continue to follow the growth trend registered at the end of 2018 (+22% compared to the previous year) and were proof of the effectiveness of the two-fronted strategies enacted to develop products already in the portfolio and to further extend along external lines.
The group’s net consolidated equity at 31 December 2019 stood at approximately €106.1m compared to €101.5m at 31 December 2018.
Results by business area
The group’s core business, which consists of directly organising tradeshows, represented 54.7% of overall revenues during the financial period with an organic growth that involved the main product leaders in the Food & Beverage, Jewellery & Fashion, Green & Technology and Tourism & Hospitality categories, leading to a 6.7% increase in earnings (about +€6.6m).
In 2019, compared to the same period in the previous year, the Congress Event business line, which represents 8.7% of IEG’s overall earnings, experienced a significant growth of +19.1% compared to 2018, mainly thanks to the larger congresses in terms of number of participants, the amount of space required and additional services requested.
Earnings from the Correlated Services business line, which involves exhibition set-ups, catering and cleaning, amounted to 32.4% of the group’s total revenues showing an increase of 39.2% compared to 2018.
In 2019, at its facilities in Rimini and Vicenza, as well as further premises in Milan and Arezzo, IEG staged 48 directly organised or hosted tradeshows and 190 congress events.
In the last few years, IEG started a significant expansion process abroad and also through joint ventures with local operators (for example, in the United States, Arab Emirates and in China).
