(Tiper Stock Exchange) – Milan faira company listed on Euronext STAR Milan and active in the exhibition and congress sector, has updated EBITDA target for 2023 to better reflect in the projections the changed macroeconomic scenario with respect to the publication of the estimates in the CONN.ECT 2025 strategic plan (dating back to February 2021). The guidance has been updated by providing for an EBITDA target of 70-80 million euros as at 31 December 2023 (85-95 million euros in the February 2021 forecast).
“Confronted with a faster recovery of business for Fiera Milano than market forecasts, it is believed that this new target for 2023 is reasonable in light of the uncertainty that still persists due to the changed scenario of energy costs and ongoing geopolitical tensions”, reads a note.
With particular reference to energy booststhe company estimates that at current valuations the cost of energy in 2023 could suffer a increase of about 13 million euros compared to the previous forecasts of the Plan. The company is planning the implementation of specific risk mitigation plans and envisaging the possibility of expanding the photovoltaic system installed on the roofs of the Rho district.