An air of novelty for ModenaFiere Srl. In fact, based on the legislation on shareholdings of local authorities, the Municipality of Modena will have to leave ModenaFiere Srl and for this reason it has started a rationalization process.
The objective, as commented in a press release by the mayor Gian Carlo Muzzarelli, “to save the presence of the Fair in Modena, maintaining the most important, strategic events for our economic system, thanks to the collaboration with Bologna Fiere, already today the entity that controls the company Modenese, in agreement with the Region and with financial support from local institutions”.
Given the economic difficulties of ModenaFiere Srl, with 4 consecutive financial years in the “red” due to the difficulties caused by Covid throughout the exhibition sector, the situation necessarily sanctions the exit of the Municipality from the company.
The Municipality currently owns 14.6% of the company, the same share is owned by the Province, while the Chamber of Commerce has 19.7% and Bologna Fiere 51%.
Continue with the trade fair activities
“We are defining the methods for applying the regulatory indication in the most correct way – continued Mayor Muzzarelli -. But above all we must create the conditions to ensure that the activity of the fairgrounds continues in the city, even if we are no longer members. On the contrary, as externals we will have fewer regulatory constraints, those of the so-called Madia law. Therefore we will be able to contribute, also economically, to the support of the Fair, together with the Province and the Chamber of Commerce”.
Before the crisis in the sector due to the emergency, ModenaFiere Srl https://www.modenafiere.it/ was facing a moment of difficulty which, both in 2018 and 2019, had recorded slight losses (54 thousand and 120 thousand euros). However, with plans launched for the recovery and a turnover that in 2019 had reached over 7 million euros.
Unfortunately due to the interruption of activities in 2020, the turnover collapsed to 2.5 million with losses that exceeded one million euros.
In 2021 the recovery began thanks also to the fact that Modena was the first Italian fair to reopen in June. The year therefore ended with a turnover that came close to 4 million euros and a “red” contained in 427 thousand euros.
“However, the consequences of the war are slowing down the recovery process this year – adds the mayor – and government help is needed, as requested by many, for the entire national trade fair system. Something was done last year, but limited to metropolitan cities”.