Italy’s IEG posts €87.6m increase in turnover

Italian Exhibition Group, the Italian trade show and congress group, with international interests in Dubai, China, Brazil, Singapore and the United States, has reported, 16 March,  2022 financial results including revenues of €161m and an increase in turnover of €87.6m.

Revenues from organised events were €88.2m, an increase of €49.7m compared to 2021.

IEG CEO Corrado Peraboni (pictured) said: "IEG Group closes 2022 with excellent results that mark the substantial recovery compared to the pre-pandemic scenario, recording, in the second half of the year, a better performance in terms of turnover than in 2019, as a result of solid organic growth in all business lines, and a progressive improvement in margins, still affected by inflationary phenomena. Despite the elements of uncertainty in the macroeconomic environment on expected global GDP growth, persistent inflation and rising interest rates, we are seeing good signs of growth in the sector in which we operate, which have also been confirmed by the success of the first events organised in early 2023, some of which achieved their best performance ever. We are therefore confident that we will achieve the goals of the business plan by pursuing our investment and development strategy, both domestically and internationally, through strategic partnerships, new acquisitions and expansion of our product."

The group reported an adjusted EBITDA amounting to €18.m, an improvement of €23.m.

The EBITDA margin returned to double-digit figures to stand at 11.2, above plan forecasts.

Excluding the Covid contribution and non-recurring revenues and expenses, Adjusted EBIT for the financial year 2022 amounted to €2.3m, an improvement of € 24.2m. Revenues in the fourth quarter of 2022 stood at €55.8m above the pre-Covid level.

Booking targets for first half of 2023 have been already overachieved in the first months of 2023, the group reports.

The full IEG financial report is available in the Investor Relations area of the Iegexpo website.