Investor Presentation • Apr 8, 2024
Investor Presentation
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Francesco Conci | CEO & General Manager
OUR STRATEGY IN NUMBERS: ECONOMIC-FINANCIAL TARGETS
Massimo De Tullio | CFO

Massimo De Tullio | CFO


Francesco Conci | CEO & General Manager

Our ambition is to position ourselves among the top five European trade fair operators with venues through a value proposition that interprets the ongoing transformation and lays a solid foundation for future growth, with a long-term perspective guaranteeing maximum profit and optimizing the resources employed.

We invest in our products, our supply chains and the attractiveness and potential of our venues by updating and adapting them to new trends and the needs of our customers and making them locations where R&D can be done.



We value and directly involve our people and new talent in the company's life, while also offering them an effective and responsible work-life balance
We aim for business-integrated sustainability, paying increasing attention to reducing environmental impact and adopting sustainability practices
We develop high-value-added, innovative and digital services, offering the best advanced technologies (AI, Virtual Reality, Augmented Reality) to make the customer journey unique





Francesco Conci | CEO & General Manager

To be the best partner for growth by playing the role of incubator and developer of business innovation thanks to our century-old history and solid roots, which enable us to interpret and anticipate the new trends and needs of our target markets. An integrated and sustainable system where people, communities and companies meet the future every day.



Francesco Conci | CEO & General Manager


MESSE FRANKFURT

1- France, Germany, Italy, Turkey, United Kingdom

2- Brasil, Mexico, USA
3- China, Hong Kong, Indonesia, Macau, Malaysia, Philippines, Singapore, Thailand, Vietnam
4- Gulf Cooperation Council
Venue size (gross areas covered, '000 m2)
Sources: Fiera Milano, STAX Globex report 2023, Company annual report, Orbis, BCG analysis

The use of venues for new types of events and attractions is on the rise
Major market players are expanding their presence outside national borders
The industry is making significant strides in sustainability, with organisers and venue operators increasingly looking to reduce the environmental impact of their events

Pandemic phase and restart
Fase pandemica e ripartenza 2024-2027
of Assets
Transformation and Growth
Investing for the growth and competitiveness of the Group with a continuous focus on efficiency
Sustained development and acceleration


Quality infrastructure
high requirements events
Product Excellence (Host)


Economic-nancial solidity
Organising and hosting major events and providing integrated physical and digital services to build value and growth experiences for Fiera Milano exhibitors, visitors and partners.
Increase the awareness of the value created by the group with customers, partners, institutions and strengthen Fiera Milano's positioning.


Leveraging sustainability as a competitive advantage and key factor to drive business growth.
Attracting talent and enhancing human capital, with a continuous drive toward innovation, development of new skills, and personal growth.
1.2
• Launching at least 3 new events by 2027 in attractive sectors and leveraging on available assets. Among them, one event in the area of decarbonization technologies and solutions for industrial processes
• Attraction of 2 international itinerant events by 2027
• Launch of 1 international edition of Host by 2027
• Development of new sectors in the main events in the portfolio
• Expansion of business scope also thanks to the new venue in Turin by 2027, which will be the 5th largest convention center in Italy by number

of seats (c. 5,000)

• Increasing market penetration of customized stands within the venue perimeter by 50% by 2027
• Increasing digital services revenues by 60% by 2027, accounting for about 3% of total group revenues in the same year
• At least 40 outdoor and indoor entertainment events by 2027
RANGE 38 44 M€
INCREMENTAL REVENUES '27 VS '23
Note: Excl. potential impact of acquisitions

SEGMENTATION BY INDUSTRY AND MODEL [# EXHIBITIONS]
| SECTOR | ORGANIZED AND INVESTMENT-HELD | HOSTED | TOTAL | ||||
|---|---|---|---|---|---|---|---|
| FASHION | 3 | 9 | 12 | 21% | |||
| HOME / CONSTRUCTION |
5 | 5 | 10 | 18% | |||
| INDUSTRIAL SUPPLY | 2 | 8 | 10 | 18% | |||
| FOOD SUPPLY AND HOSPITALITY |
3 | 1) | 3 | 6 | 11% | ||
| AUTOMOTIVE AND TRANSPORTATION |
2 | 3 | 5 | 9% | |||
| B2C | 3 | 1) | 2 | 5 | 9% | ||
| VERTICALS | 3 | 6 | 9 | 16% | |||


To attract and host leading events in Milan each year, benefiting from the ideal conditions of the venue and the location (target: at least 2 by 2027)

partnerships
HOST is the most important international event organized by Fiera Milano, a global benchmark for the Ho.Re.Ca and Food Service sector.
HOST can become a replicable best practice abroad also through partnerships with selected operators holding specific know-how on local markets.


Strengthening the positioning of B2C and vertical events, also through strategic alliances with partners: •BIT (Tourism)

We focus on innovative and unexplored areas
Exhibition in the field of technologies and solutions for the decarbonization of industrial processes
New events must relate to high-potential sectors in which Fiera Milano can have a clear right-to-win
Launching new events is key to securing a solid portfolio for Fiera Milano's future
We want to focus on continuous research and the launch of new events (which represent an incubator for innovative projects)
Sources: Fiera Milano data, BCG analysis

Sustainability approach underpins the attractiveness of the venue

Leveraging the quality of the venue and the services offered to organizers with high added value
digital services

Considering target events from 15-20K m2 upwards, with a relevant share of international exhibitors and visitors

Strengthening the network of relationships with major global organizers in order to attract new prestigious international events to Milan every year through partnerships, taking advantage of the ideal characteristics of the Milan area.
Attraction of 2 international itinerant events by 2027
RANGE 5 7 M€

INCREMENTAL REVENUES '27 VS '23
Optimizing the use of space at Allianz MiCo in Milan through a targeted selection of events to maximise the revenues.
Investing in new high-value-added services to further enhance the visitor experience
Attracting new international conferences and major corporate events by strengthening the network of relationships with global associations and convention centers
Expanding the scope of activities with the new venue in Turin (from 2027), which will be the fth congress centre in Italy in terms of seats (c. 5,000)

26 I STRATEGIC PLAN 2024/2027 I VALUE PROPOSITION: EXPANDING CONGRESSES
RANGE 21 34 M€
Note: Excl. potential impact of acquisitions

INCREMENTAL REVENUES '27 VS '23
I STRATEGIC PLAN 2024/2027 I VALUE PROPOSITION: BECOMING AN INTEGRATED SERVICE PROVIDER
Strengthening commercial offering of stand ttings and technological services in and outside the district, also through growth by external lines. Aiming for a distinctive position in higher value segments of the market as well.
Developing a digital offer to enhance the event experience 365 days a year, also through the collection, management and use of Big Data and articial intelligence, leveraging the potential of digital platforms.

| PHASE | EVENT ORGANIZATION | SETTING UP | CATERING / | DIGITAL AND | TRANSPORTATION AND ACCOMMODATION |
FREIGHT | |
|---|---|---|---|---|---|---|---|
| EXHIBIT SPACE RENTAL | EXHIBITION SPACES | BANQUETING | MEDIA SERVICES | OF PEOPLE | LOGISTICS | ||
| SERVICE DESCRIPTION |
Organization of events Rental of exhibition space in which the event is held and booths are set up |
Pipe structure installation and hangings Stand design and construction, common areas Provision of technology infrastructure |
Catering services through fixed and temporary food outlets operated by third parties On-demand catering/ banqueting services on booths or in dedicated areas, managed by third parties Other services (e.g. Hostesses, Translators, etc.). |
Digital platforms (web, app, totems) Traditional billboards Digital billboards (age) Brand promotion on digital catalogs |
Purchasing tickets (air and rail tickets) and accommodation for staff attending events |
Transportation, assembly, disassembly and possible reverse logistics for exhibits |
|
| COMPANY GROUP |
|||||||
| MODEL | |||||||
| Direct management | |||||||
| Indirect management/broker |
|||||||

Increasing interaction with visitors before, during and after the event, creating a sense of community throughout the year
Leveraging all digital channels to promote event registration, ticket sales, and subscriptions
Generating new revenue areas on top of the traditional ones
Collection and processing of data to generate insights on events, exhibitors, and visitors. (e.g. QR Code readers, reports & insights etc.)
Adoption of digital platforms to sell services during events and subscriptions/subscriptions throughout the year (e.g., match-making, websites, digital apps, 5G provision etc.)
Activation of promotional and commercial campaigns, both physical and digital (e.g. age, marketing campaigns, social media etc.)



RANGE 4 6 M€

INCREMENTAL REVENUES '27 VS '23
Dierentiating the use of the Rho venue for indoor and outdoor entertainment events (cultural, sports, music) through strategic partnerships with industry-leading operators
The Olympics will be the first example of use open to the general public of Halls 13-15
Intercepting new B2C targets and new communities

33 I STRATEGIC PLAN 2024/2027 I VALUE PROPOSITION: DEVELOPING THE ENTERTAINMENT BUSINESS

Gross space (m2) Pavilions optioned for the 2026 Olympics
• ~ 30.000 seats
INDOOR

with >50.000 seats



Developing and integrating a sustainable business model in the strategic plan
KEY INITIATIVES
Strengthening the portfolio of events
NEW INTEGRATED SUSTAINABILITY PLAN WITH 30 TARGETS TO
Expanding congresses
Becoming an integrated service provider
Developing the entertainment business RATIONALE FOR INTEGRATION ESG
Fiera Milano aims to position itself as a facilitator of the energy transition in the industry and as a promoter of good sustainability practices along the supply chain by launching a new event dedicated to industrial decarbonization, fostering discussion among opinion leaders, companies, and customers
2027 2ND DIMENSION Fiera Milano denes a structured sustainability plan, aligned with the ESG needs of its customers, to secure a competitive advantage in the landscape of major international events and attract new business
Digital development becomes a facilitator for improving the customer experience and generating additional business opportunities by encouraging the creation of communities and fostering connections 365 days a year
By implementing a rigorous ESG due diligence on M&A opportunities, Fiera Milano will not only select partners at the forefront of sustainability, but also inuence stakeholders to adopt environmentally sustainable practices in order to establish a partnership with the Group
ENVIRONMENTAL (n. 12 targets)
SOCIAL (n. 1O targets)
GOVERNANCE (n. 8 targets)

EFFECTIVE AND EFFICIENT STRUCTURE
| FOCUS ON | |
|---|---|
| 02 | |
| 03 | |
| 04 | |
| 05 | |
| 06 | |

DIGITAL TRANSFORMATION OF THE PROCESSES AND TOOL ENHANCEMENT TO SIMPLIFY WORK

School of Trades New competency model Talent Attraction &Employer Branding
Coaching Onboarding & Accommodation
Job Rotation and cross-functional fertilization
Total Reward Policies
Skills assesment
Creation of cross-cutting task forces
Internal communication development
Rightsizing of structures from a cross-skill perspective Job rotation paths
Digital solutions for recruiting and onboarding Smart working and mobility


In an ever-changing market environment, Fiera Milano aims to develop a renewed identity and acquire a distinctive positioning, linked to the company's values and the strategic plan's fundamental guidelines, in order to be increasingly relevant in the scenario of trade fair operators.


Building new communities and reaching new targets with targeted actions
Ensuring an integrated, cross-media and continuous communication system through the production of valuable content throughout the year

Massimo De Tullio | CFO


Revenues (€M) Square meters/000 (Italy)

Ebitda (€M)



By overcoming guidance, Fiera Milano has demonstrated solid execution capacity



Despite of: + c. € 5mln energy costs + c. € 3 mln one-off reorganization costs not foreseen for in previous guidance of € 85-95 mln
Italian GDP with average growth of ~1.0% per year during the plan Real GDP growth (year-on-year, %)
Ination in Italy expected to stabilize at 2.0 percent by the end of the plan Inflation (% change from previous year)



Sources: Fiera Milano, STAX Globex report 2023, Company annual report, Orbis, BCG Analysis






According to STAX Globex 2023, the exhibition market in Italy will grow from 2019 to 2025 at a CAGR of 2%, in line with mature markets



1- Transformation of halls 13-15-22-24, elevators installation, surveillance cameras renovation.
2- Includes 50% of the total investment (amounting to 15 million euros) related to the new data, audio and video signal transmission infrastructure 3- Includes acquisition costs and CAPEX target company
Sources: Fiera Milano, BCG Analysis

Cumulative 2024-2027 (M€)

M&A as primary goal, lever for future development
Dividends returning to remonerate shareholders with stability


Total financial availabilities M€
At least 40 M€ 2024-2027 [10M€/year]

111-131 M€ [not considering leverage effect]
Resources allocated to the execution of M&A transactions (continuous scouting)

Event organizers with leading events, in Italy or abroad, and strong organizational skills, willing to sell their majority stake
Operations in major global markets (e.g., Italy, EU, U.S.), high-growth markets (e.g., Saudi Arabia), or where FM is currently present (e.g., Brazil)
03 High growth potential and opportunities to import events in the target's portfolio into Fiera Milano
04 Sectoral t with current events portfolio to maximize synergies, e.g., Hospitality, Textiles/Clothing/Fashion, Construction, Security


Massimo De Tullio | CFO

49 I STRATEGIC PLAN 2024/2027 I
| ESG | DIMENSION OF THE STRATEGIC PLAN 2024-2027 |
ESG PRIORITIES |
# | TARGET | TIMING | SDGS | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Attracting and hosting leading events in Milan every year; Attracting new international conferences and large corporate events. |
CLIMATE CHANGE |
1 | Reduction of CO2 Scope 1 + Scope 2 emissions by • at least -60% from baseline 2023 |
2027 | |||||||
| 2 | • Increasing the share of electricity from renewable sources from 38% to 70% |
2027 | |||||||||
| 3 | • Implementation of a single refrigeration system to promote energy saving |
2027 | |||||||||
| L | 4 | • Extension of LEED certication to halls 3 and 4 of the Allianz-MiCo Convention Center |
2024 | ||||||||
| A T |
5 | • Measuring Scope 3 emissions at the Group level |
2025 | ||||||||
| N E |
6 | • Defining medium- and long-term SBTs (Science Based Targets) |
2027 | ||||||||
| M N O R VI N E |
WASTE AND CIRCULAR ECONOMY |
7 | • Reducing waste generation by keeping the annual waste generation level below 6.5 kg/sqm |
2027 | |||||||
| 8 | • Achieving 75% separate waste collection, minimizing the amount of unsorted waste |
2027 | |||||||||
| 9 | • Achieving a 50% recycling rate of the carpet used during events at Fiera Milano |
||||||||||
| SUSTAINABLE MOBILITY AND |
10 | • Achieving a 35 percent share of hybrid vehicles within the car fleet |
2024 | ||||||||
| 11 | • Completion of the installation of 15 dual electric car charging stations at the fairgrounds |
2024 | |||||||||
| ACCESSIBILITY | 12 | Making 50 bike-sharing units available to employees • |
2024 |



| ESG | DIMENSION OF THE STRATEGIC PLAN 2024-2027 |
ESG PRIORITIES |
# | TARGET | TIMING | SDGS |
|---|---|---|---|---|---|---|
| 1 Attracting and hosting leading events in Milan every year; 2 Attracting new international conferences and large corporate events. |
PEOPLE DEVELOPMENT, WELFARE AND D&I |
13 | • Increase in the incidence of the female gender in managerial positions from 46% in 2023 to 49% |
2027 | ||
| 14 | • Obtaining UNI/PDR 125:2022 (gender equality) certication |
2024 | ||||
| 15 | • Increasing the number of training hours by 50% from the 2023 baseline (7,024 hours) |
2027 | ||||
| 16 | • Obtaining employer branding certication from leading international certifier |
2027 | ||||
| L A CI O S |
HEALTH AND SAFETY |
17 | • Extension of full-coverage health insurance to 100% of employees |
2027 | ||
| 1 - 2 3Launch new events in |
CUSTOMERS AND COMMUNITIES |
18 | • Launch of a new event dedicated to issues related to industrial decarbonization |
2027 | ||
| high-potential sectors | 19 | • Launch of a multi-stakeholder forum (EGS Day) |
2025 | |||
| 4Promoting a substantial increase in the penetration of customized stands |
20 | • Launch of an ESG advisory service for organizers and exhibitors |
2025 | |||
| 5Developing a digital offer to enhance the experience of events 365 days a year |
DIGITAL TRANSFORMATION |
21 | • Investment in technology and IT interventions to enhance high-resolution audio and video capabilities at Allianz-MiCo headquarters |
2025 | ||
| 22 | • Development of the new Digital Platform to improve customer experience |
2025 |


| ESG | DIMENSION OF THE STRATEGIC PLAN 2024-2027 |
ESG PRIORITIES |
# | TARGET | TIMING | SDGS |
|---|---|---|---|---|---|---|
| 23 | • Obtaining ISO 37001 certication (anti-corruption) for Fiera Milano |
2024 | ||||
| GOVERNANCE AND BUSINESS MANAGEMENT |
24 | • Obtaining ISO 14001 certication (environmental) for Fiera Milano |
2024 | |||
| 25 | • Implementation of a Tax Control Framework |
2024 | ||||
| 1 Attracting and hosting leading events in Milan every year; 2 Attracting new international conferences and large corporate events. |
26 | • Initiating an ESG Due Diligence process for all M&A processes |
2024 | |||
| 27 | • Denition of MBOs for all executives with ESG weight between 15-20% and execution of the LTI (Long Term Incentive) plan with ESG weight of 20% |
2027 | ||||
| E C N A N R E V O G |
PRIVACY E CYBERSECURITY |
28 | • Obtaining ISO 27001 certication (information security) |
2027 | ||
| RESPONSIBLE | 29 | • Ensuring that at least 80% of the value of supplies is covered by ESG evaluative screening |
2027 | |||
| SUPPLY CHAIN | 30 | • Ensuring 100% of reputational audits for suppliers > Euro 10k |
2024 |







Pandemic phase and restart
Fase pandemica e ripartenza 2024-2027 Strengthening of Assets Transformation and Growth
Investing for the growth and competitiveness of the Group with a continuous focus on efficiency







This presentation and any materials distributed in connection with it (together, the "Presentation") do not constitute or form part of, and shall not be interpreted as, an offer to sell or subscribe for or solicitation of any offer to buy or subscribe for any security, and neither this Presentation nor anything contained herein shall form the basis of, or be used in connection with, or serve as an inducement to enter into any contract or commitment whatsoever.
The information contained in this Presentation has not been independently verified and no representation or warranty, express or implied, is made, and no reliance should be placed on the fairness, accuracy, completeness, reasonableness or correctness of the information or opinions contained herein. No one within Fiera Milano S.p.A., its subsidiaries or their respective employees, consultants, representatives or affiliates shall have any liability whatsoever (in negligence or otherwise) for any loss arising in any way from the use of this document or its contents or otherwise arising in connection with this Presentation. The information contained in this Presentation is provided as of the date of its submission and is subject to change without notice.
This Presentation may include forward-looking statements. These statements can be identified by the fact that words such as "anticipate," "estimate," "should," "expect," "expect," "guide," "project," "intend," "plan," "believe," and/or other words and terms of similar meaning are used in connection with, among other things, any discussion of operations results, financial condition, liquidity, prospects, growth, strategies, or developments in the industry in which we operate. These statements are based on management's current intentions, expectations or beliefs and involve inherent risks, assumptions and uncertainties, including factors that could delay, divert or change any of them. Forward-looking statements in this Presentation regarding current trends or activities should not be taken as a statement that such trends or activities will continue in the future. Actual outcomes, results and other future events could differ materially from those expressed or implied by the statements contained herein. Such differences could adversely affect the outcome and financial effects of the plans and events described herein and could result from, among other things, changes in economic, business, competitive, technological, strategic or regulatory factors and other factors affecting the Company's business and operations. Neither Fiera Milano S.p.A. nor any of its affiliates has any obligation, and each of these entities expressly disclaims any such obligation to update, revise or modify any forward-looking statements, either as a result of new information, future events or otherwise. Undue reliance should not be placed on any of such forward-looking statements, which refer only to the date of this Presentation.
It should be noted that past performance is not indicative of future performance. It should also be kept in mind that interim results are not necessarily indicative of full-year results.




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