Italian Exhibition Group (IEG) has announced consolidated net profit of €10.8m (compared to €9.2m in 2017) on increased revenues and operating profitability.
Total consolidated revenues were €159.7m (€130.7m in 2017), according to a board statement on 21 March.
Other highlights of IEG’s consolidated results of the 2018 fiscal year included a Gross Operating Margin (EBITDA1) of €30.8m (32.6% more than the €23.2m of 2017).
The board announced a slight increase in the debt burden, which it said was due to acquisitions made in the stand fitting sector in Italy and in the United States.
Consolidated net assets as at 31 December 2018 were put at €114.6m.
Comparison with the previous year’s figures must take into consideration some changes in the corporate structure (in March 2018, FB International Inc. became part of the IEG group, as did Prostand Srl and Colorcom Allestimenti Fieristici Srl, from September 2018) and the absence, in 2017, of two biennial expos which are only held on ‘even’ years: Tecnargilla and IBE-International Bus Expo.
On the other hand, 2017 benefited from the A.B. Tech Expo, held in Rimini every three years, and Koinè, held every two years in Vicenza.
In 2018, IEG hosted an overall total of 53 exhibitions and 181 conferences and events in its expo and conference facilities in Rimini and Vicenza.
Revenue from business regarding tradefair events represented approximately 62% of the consolidated total (over 98% from events organised directly), an increase of 12% on the previous year.
IEG said its revenue from conference events was substantially steady (representing over 8% of the consolidated revenue). The revenue from related services, such as stand fitting, catering and cleaning was approximately €40.1m (a large increase on the previous year, mainly due to the aforementioned acquisitions).
Lastly, revenue from Publishing, Sport and other business also increased considerably, accounting for approximately 4% of the IEG Group’s total revenue.
IEG management said it was confident that it would also achieve in the current year the ambitious growth and profitability targets forecast by the budget.