The Board of Directors of Italian Exhibition Group S.p.A. (IEG) has approved a consolidated interim management report for the year to 30 September 2024 which reveals revenues of €179m, +19.8% (compared to the year to 30 September 2023).
CEO of the IEG Group, Corrado Arturo Peraboni, commented: “The robustness of our business model and our growth are evidenced by a simple fact: in the first nine months of 2024 alone, the company has exceeded all of its pre-Covid financial results for the entire last year. The last quarter will only add value to our result.
“The performance of the third quarter is higher than expected in our Strategic Plan 2023-2028. The period benefited from a more favourable calendar that included the Tecna - International Exhibition of Technologies and Supplies for Surfaces in Italy and Fesqua - Feira Internacional da Industria de Esquadrias in Brazil, events that added to the excellent results achieved in the first part of the year by our core products in the segment of organised events such as VicenzaOro, Sigep and RiminiWellness.
“The related services segment also performed well in terms of both turnover and margins.” Peraboni said the Group’s investment plan to support the growth of its Strategic Plan is on schedule – during the quarter work was completed to install three temporary pavilions in Vicenza, while in October two new pavilions for the Rimini exhibition centre completed, making a further 8,300sqm available for future events.
October saw the finalisation of the purchase of 51% of Vending Expo S.r.l., the company organising Venditalia - The Vending
“In light of the results achieved and the brilliant performance of the main autumn trade fairs TTG Travel Experience and Ecomondo, we confirm the high end of the guidance on the economic and financial results expected for 2024,” Peraboni added.
Profit for the period was up €21m from €11.4m for the year to September 2023, IEG reported, with adjusted EBITDA coming in at €42.8m, up 32.5% compared to 30 September 2023.
The stronger figures were largely driven by increased volumes in the organised events business, the Group said, and partly by price effects that, together with the contribution of
Revenues from the Organised Events line of business, which represented 57.8% of the Group’s revenues as of 30 September 2024.
Photo: Corrado Peraboni, CEO, left, with IEG president Maurizio Ermeti
