ITALIAN EXHIBITION GROUP: FOCUS ON
Italian Exhibition Group (www.iegexpo.it) is the joint-stock company officially founded on 1st November 2016 with a merger between Rimini Fiera SpA and Fiera di Vicenza SpA. The names Rimini Fiera and Fiera di Vicenza remain, indicating the operational headquarters and respective expo centres. The Group, which has a workforce of 280 professionals, also has branches in Milan, Turin, Dubai and San Paolo.
IEG is the first example in Italy of a merger between expo companies and is the top trade fair player in the country for the number of exhibitions organized directly (90% of which are owned by the group) and second for turnover.
The company´s main objective is to highlight and internationalize some of the most important production chains of successful Italian-made products.
The shareholder structure of the Italian Exhibition Group SpA is made up directly or indirectly of: Rimini Congressi srl (which includes Rimini Municipality via Rimini Holding, Rimini Chamber of Commerce and Rimini Province), Emilia Romagna Region, GL Events, King SpA, Salini Impregilo, Fiera Invest SpA; Vicenza Municipality, Vicenza Chamber of Commerce and Vicenza Province, through Vicenza Holding and other private shareholders.
Italian Exhibition Group´s Board of Directors is formed by: Lorenzo Cagnoni (President and Managing Director), Matteo Marzotto (Vice President), Barbara Bonfiglioli, Luigi Dalla Via, Daniela Della Rosa, Maurizio Renzo Ermeti, Lucio Gobbi, Catia Guerrini and Simona Sandrini. General Manager is Corrado Facco and Deputy General Manager Carlo Costa.
Italian Exhibition Group SpA ended 2016 with a proforma* preliminary turnover of 123 million euros (118.7 million was forecast), an EBITDA** of 22.9 million (4% more than forecast) and a consolidated net profit of approximately 6.6 million.
Overall in 2016, in the expo and conference venues in Rimini and Vicenza, IEG hosted a total of 59 exhibitions and 216 conferences and events, with 14,593 exhibitors and almost 2.5 million visitors***.
The expos of Italian Exhibition Group SpA regard important production chains of Italian-made products, such as: Food & Beverage, Green Economy, Technology, Entertainment, Tourism, Transport, Wellness, Jewellery and Fashion, Lifestyle & Innovation. The Group also plays the role of national leader in the conference-convention sector, with two venues located in Rimini (riminipalacongressi.it) and Vicenza (Vicenza Convention Centre), in strategic areas Italy´s economy.
The company will act as a point of attraction for sectors that are among the most representative of Italy´s industrial platform, playing the role of a worldwide ambassador for everything Beautiful and Well-done in Italy. With the aim of further highlighting and exploiting these sectors, Italian Exhibition Group SpA will have internationalization as its priority asset, attracting foreign buyers and exhibitors to Italy and developing business on strategic foreign markets. The Group starts off with a solid presence already on the international market, in particular with a joint venture in the United Arab Emirates and presences in the USA, China and India, and with projects also well under way in South America. In 2017 in China two expos will debut, focussed on tourism (Travel Trade Market in Chengdu, already presented in Beijing) and on the environment.
A development plan is foreseen to further exploit the expo centres of Rimini and Vicenza, already Business Centres with high international standards, featuring modern technically advanced infrastructures with elegant standards from an aesthetic point of view. Investments will also regard the expo portfolio, with a rise in external lines.
RIMINI: THE EXPO CENTRE AND PALACONGRESSI
Designed by Hamburg´s GMP, Rimini Fiera covers a total area of 460,000 square metres: 173,000 of useable space - 113,000 of gross exhibit space and 60,000 for services - laid out in 16 halls. The centre has 3 entrances, parking for 11,000 cars, 24 conference rooms seating up to 730, business centres, press rooms, food service areas and services for exhibitors and visitors. Extension work began on the centre in June 2016: at the end of 2017, gross expo space will rise to 129 sq.m. The centre also has an on-site railway station on the Milan-Bari line, used by approximately 20% of the visitors.
In 2011, Rimini´s new Palacongressi conference centre was inaugurated. It was also designed by Hamburg´s GMP and built from scratch. It stands in an area of 38,000 square metres, has 39 rooms, an overall seating capacity of 9,000, service areas, catering facilities and underground parking for 500 cars.
VICENZA: THE EXPO CENTRE AND PALACONGRESSI
The Vicenza expo centre occupies an area of 80,000 sq.m. and has 9 halls. It features a technically advanced infrastructure with high aesthetic standards. In recent years, Fiera di Vicenza has invested approximately 45 million euros on expanding and upgrading the centre´s infrastructure. The work, begun in January 2014, involved the construction of the new Hall 7 (an Italian-made building, with an area of 15,000 square metres and the largest single-span wooden roof in Italy and one of the largest in Europe. It also hosts meetings, concerts, shows and sports events and has a capacity of 9,000 people standing and 6,000 seated. It also has a raised area with a food service zone and rooms for conferences and meetings), the renewal of the Convention Centre (Hall 8) and the realization of an 8-level multi-storey car park. Vicenza´s Convention Centre can host 1,500 people and includes the Palladio Theatre, which can seat over 700.
(*) The Pro-Forma balance is intended as the balance of Italian Exhibition Group SpA as if the merger between Fiera di Rimini and Fiera di Vicenza had effect from 1st January 2016 and therefore as if the balance of the profit and loss account expressed all the activity carried out by the two companies in the course of 2016. For the technical method used for the integration (the entry of Fiera di Vicenza in Rimini Fiera), the effective profit and loss account of the company shows the whole of 2016 for Rimini Fiera and the months of November and December for Fiera di Vicenza.
(**) The EBITDA is represented by the operating results (earnings) before interests, taxes, depreciation and amortization. EBITDA is an indicator defined and used by the Group to monitor and assess the Group´s operating performance, but is not defined in this context by the IFRS; so it must not be considered as an alternative indicator for the assessment of the performance of the Groups´ operating results. The company considers the EBITDA to be an important parameter for assessment of the Group´s performance, as it enables to analyze its marginality, eliminating effects due to non-recurrent economic elements. Since the EBITDA is not an indicator whose determination is regulated by the reference accounting standards for drawing up the Group´s consolidated financial statement, the criterion applied for the calculation of the EBITDA might not be homogeneous with that adopted by other groups, so might therefore not be comparable.
(***) The leading Italian Exhibition Group SpA expos are subject to certification by the ISFCERT institute, recognized by ACCREDIA, according to ISO 25639:2008 ´Exhibition Terminology and Measurement´