Veronafiere exercise 2023 closes with record balance sheet

Veronafiere exercise 2023
[:it]Veronafiere exercise 2023[:]

On April 24, the Veronafiere Exercise 2023 Shareholders’ Meeting unanimously approved the consolidated results for 2023, which recorded at the group and parent company level an all-time record in revenues, above expectations and higher even than 2019, the pre-Covid year. Results achieved with management alone, which generates on average 90% of revenues, and without state aid or capital gains.

Veronafiere exercise 2023: better than 2019, last year pre Covid

“The group’s revenues are significant and better even than the results of 2019, a pre covid year, and stand at €120.5 million, up 11.8% from 2022. Ebitda is 22.3 million euros, an improvement of 25.9% over 2022, exceeding budget estimates by 4.6 million euros and registering a profit of 3.9 million euros. An element of absolute importance, cash generation, which is also solid thanks to working capital evolution, has significantly and virtuously reduced the size of debt: the Veronafiere Group’s financial structure is back solid,” as stressed by the entity’s president, Federico Bricolo.

Veronafiere exercise 2023 had 50 events, 39 of them in the Veronafiere exhibition center for a total Italy of 770,000 visitors, 11,000 exhibitors and a net exhibition area of 567,000 sq. m. Eleven, on the other hand, were held abroad, namely in Brazil, China, the Netherlands, Peru, Serbia and the United States of America.
There were 280 conferences hosted in the conference facility for 60,500 participating operators.
Some of the owned trade fair brands are global benchmarks in their respective industries, for example Vinitaly and Marmomac. Or they hold leadership at the international level. These include Samoter, Fieragricola, Fieracavalli and Progetto Fuoco.

Veronafiere exercise 2023: an exhibition calendar back to normal

As for the group, CEO Maurizio Danese recalled that revenues from sales and services for the 2023 financial year reached 93.8 million euros, up 16 percent (more than 13 million euros) from 2022. Ebitda was 14.1 million euros, +19.4% (over 2.4 million euros) over the previous year. Net income as of December 31, 2023 notes a profit of 2.3 million euros. Results to be sought in the combination of several factors, first among them the normalization of the exhibition calendar, finally stable for the first time since 2019.

Veronafiere exercise 2023 “A return to normality that is reflected in the full resumption of the activity of direct organization of exhibitions, events and initiatives, together with the convention-congress activity. One example for all, the holding after 6 years of absence of Samoter dedicated to the industrial sector of construction equipment.”