Fiera Milano (FM) investor relations material

Executive summary

• Revenues for H1 2026 rose 38% year-over-year to €245.7 million, driven by Olympic-related activities, acquisitions (Expotrans, Stipa, MiCo DMC, Made in Steel), and a favorable event calendar.

• EBITDA increased 49% to €94.0 million, with margin improving to 38.3%; net profit more than doubled to €50.7 million.

• Growth supported by consolidation of new businesses, strong like-for-like performance, and expanded event portfolio.

• New international events secured, including Inter Airport Global for 2027, enhancing global positioning.

• Recognized among top 10 Italian-listed companies in ESG Identity Corporate Index 2026 and as a Top ESG Performer.

Financial highlights

• Revenue: €245.7 million (up from €177.9 million in H1 2025).

• EBITDA: €94.0 million (up from €63.1 million), margin improved from 35.5% to 38.3%.

• Net profit: €50.7 million (up from €23.1 million).

• EBIT: €67.1 million (up from €37.5 million), margin 27.3%.

• Net financial position (pre-IFRS 16): €109.4 million, down from €157.2 million at 2025 year-end due to acquisitions and shareholder returns.

Outlook and guidance

• Full-year 2026 revenue guidance confirmed at €380–400 million; EBITDA at €100–110 million.

• Net financial position at year-end expected in the €100–110 million range, contingent on receivables collection.

• Net profit for 2026 anticipated at €30–35 million.

• Strategic plan update scheduled for Q1 2027 to incorporate full-year 2026 results and macroeconomic trends.

• 2027 guidance projects revenues of €355–375 million and EBITDA of €120–130 million.