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Italian Exhibition Group, Q1 2022 exceeds expectations

IEG -Italian Exhibition Group,a company listed on Euronext Milan, closed the first three months of 2022 brilliantly. Just recently, in fact, IEG’s Board of Directors approved an interim management report at 31st March 2022 that exceeded expectations.
Revenues amounted to EUR 38 million, an increase of EUR 35.6 million compared to the first quarter of 2021 during which events had only taken place in digital format due to the pandemic.

According to Corrado Peraboni, CEO of IEG: “The participation recorded during the events of this first quarter and the results achieved, both in terms of volume and in maintaining the pricing applied, suggest that we can put the darkest period of this pandemic, which dealt a severe blow to trade shows all over the world, behind us. In March, we organised international trade fairs of primary importance for the Group, such as Vicenzaoro and Sigep, standard-bearers of Made in Italy in the world for jewellery and food respectively. The figures show that we were able to look beyond in order to achieve our objectives and further growth.”

The Group’s EBITDA, equal to EUR 7.0 million, is also on the rise: + EUR 14.2 million compared to the same quarter in 2021 when it recorded a loss of EUR 7.2 million.
“The coming months,” Peraboni adds, “will see the successive staging of every event in IEG’s portfolio, including the biennial events, and this is yet another good sign.” Upcoming events include RiminiWellness, TTG Travel Experience and Ecomondo.
The congress area also performed well: in the first quarter of 2022, 12 congresses were held at the two venues of Rimini’s Palacongressi and the Vicenza Convention Centre, generating joint revenues of 1.5 million euros and showing a recovery of 1.3 million euros compared to the same period in 2021.

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About the author

Harry Johnson

Harry Johnson has been the assignment editor for eTurboNews for mroe than 20 years. He lives in Honolulu, Hawaii, and is originally from Europe. He enjoys writing and covering the news.

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