Fiera Milano (FM) Euronext STAR Conference presentation summary

2024 performance overview

• Achieved strong like-for-like revenue growth across all business lines, with a 24% increase driven by higher volumes, services, and congresses, despite a negative calendar effect from the absence of major biennial and multi-year events.

• 2024 revenues reached €273.2m, exceeding guidance, while EBITDA was €83.6m, reflecting a 14% decrease due to event seasonality.

• Net income from continuing operations was €19.1m, with net cash at €77.8m at year-end.

• Dividend per share proposal increased to €0.20, yielding 4.47%.

• Foreign exhibition business and congresses showed significant growth, offsetting some domestic declines.

Strategic plan and growth initiatives

• Four strategic priorities: value proposition, sustainable business model, people and organization, and relationships/recognition.

• Portfolio strengthening with at least three new events and two international itinerant events by 2027, targeting €38-44m incremental revenues.

• Expansion of congresses, including a new venue in Turin by 2027, expected to add €5-7m in revenues.

• Integrated service provider strategy and digital transformation to generate €21-34m incremental revenues.

• Entertainment business development with at least 40 events by 2027, leveraging Olympic partnership.

Key event and market highlights

• Major events in 2025 include Salone del Mobile, Host, Tuttofood, Gastech, and NetZero Milan, with new international launches such as Host Arabia.

• Host Arabia in Saudi Arabia leverages strong market growth and government investment in tourism.

• NetZero Milan to focus on decarbonization technologies, targeting 50+ exhibitors and 3-5k visitors in its first edition.

• Strategic partnerships and international expansion, including joint ventures and cross-selling with global organizers.

• Milan’s convention centers attract major international congresses, such as the European Society of Cardiology and ADB Annual Meeting.