On 16 March, the Board of Directors of Italian Exhibition Group 2022 approved the draft statutory financial statements and the consolidated financial statements as at 31 December 2022.
A year that closes with excellent results, as underlined by the CEO Corrado Arturo Peraboni, with a recovery compared to the pre-pandemic context by recording, in the second half of the year, a performance in terms of turnover higher than 2019. A result due to organic growth in all business lines and a progressive improvement in margins, still affected from inflationary phenomena.
“Despite the elements of uncertainty in the macroeconomic context on global GDP growth expectations, the persistence of inflation and the rise in interest rates, we see good signs of growth in the sector in which we operate. Signals also confirmed by the success of the first events organized at the beginning of 2023, some of which achieved the best performances ever. We are therefore confident that the objectives of the industrial plan will be achieved, pursuing the investment and development strategy, both nationally and internationally, through strategic partnerships, new acquisitions and the expansion of our products”.
Italian Exhibition Group 2022: a difficult start to the year
Revenues as at 31 December 2022 amounted to 161.9 million euros, up by 59.4 million (+58.0%) compared to 2021. In the previous year non-recurring income was recognized for approximately 28.2 million for the Covid-19 contributions received. The increase in turnover net of the Covid refreshments is equal to 87.6 million.
The 2022 financial year was characterized by a beginning of the year negatively impacted by economic factors. Starting with the resurgence of the pandemic, which forced the suspension of activity for most of the first quarter. Instead, from the second half of the year, the sectors in which the group operates showed strong signs of recovery, higher than expected, recording sales volumes, participation and satisfaction on the part of operators, in some cases, higher than those of the pre- scenario -pandemic.
Organic growth in turnover in 2022 amounted to €26.5 million (+25.9% compared to 2021), driven in particular by higher volumes on exhibitions in the second half and partly by price effects.
Italian Exhibition Group 2022: recovery and acquisitions
The recovery of turnover relating to the post-Covid restart (so-called “Restart” effect) with the scheduling of events cancelled, suspended, held in digital or reduced format in 2021 amounted to 53.4 million euros (+52.1%) , while the incremental turnover for the two-year period of some exhibitions contributed to revenues for 2022 for 4.3 million (+4.2%).
During the financial year, Italian Exhibition Group 2022 https://www.iegexpo.it/en/ finalized both corporate transactions and acquisition and international development transactions.
For example, in March 2022 the company IEG Deutschland was established for the development of the group’s international sales network. While at the end of May, 75% of the capital of the company V Group which organizes MyPlant & Garden was acquired.