submit your news
Italian Exhibition Group SpA Approves 2017 Draft Financial Statement
The Italian Exhibition Group SpA (IEG) board of
directors has approved the 2017 draft financial statement 2017 and the
IEG’s consolidated turnover, as of 31st December 2017 was 130.7 million
euros (4.7% up on the 124.8 million of the IEG pro-forma1 turnover in
2016). The Gross Operating Margin (EBITDA2) as of 31st December 2017 was
23.2 million euros (an increase of 5.4% on the 22 mln of 2016).
Consolidated net profit pertaining to IEG as of 31st December 2017 was 9.1
million euros (a 42.1% increase on the 6.4 mln of 2016).
As of 31st December 2017 the Net Financial Position of the group has a
negative value of approximately 51.3 million euros, compared 40.5 in 2016.
The growth of the debt burden, less than expected, was due to the policy
of dividend distribution (over 10.5 million ordinary and extraordinary
dividends in favour of shareholders during 2017) and 23.9 million euros of
investments made. The turnover: debt level ratio is excellent, i.e.
perfectly able to be faced.
In 2017, IEG hosted an overall total of 59 exhibitions, 280 conferences
and events, 15,649 exhibitors and 2,648,675 visitors in its expo and
conference facilities in Rimini and Vicenza.
These figures position IEG in second place among Italy’s trade fair
centres for turnover and first as far as exhibitions organized directly
and business profitability are concerned.
This is an important result, with a higher turnover than IEG had indicated
in the budget for 2017.
Profits also met the objectives and expectations for the distribution of
dividends to Shareholders are being met: during today’s board meeting, IEG
Board of Directors deliberated a proposal of an ordinary dividend of 18
euro cents per share (the same as distributed last year) for a total of
5.5 million euros, confirming the stability that Shareholders expected.
IEG management – supported by the excellent results of the first quarter
of 2018 – is therefore confident that it will achieve the ambitious
results forecast by the budget.
FOCUS ONITALIAN EXHIBITION GROUP SPA
Italian Exhibition Group SpA is Italy’s first trade fair organizer for
profitability and expo portfolio (regarding the Food & Beverage, Green,
Technology, Entertainment, Tourism, Transport, Wellness, Jewellery e
Fashion, Lifestyle & Innovation trades). IEG is also Italy’s leader in the
conference and congress sector. IEG works in a worldwide context on the
internationalization of its Clients’ business, starting with a solid
presence in the world with branches in the United Arab Emirates, Brazil,
United States and China. www.iegexpo.it
FIND IT - MARKETPLACE