(Finance) – Group revenues Italian Exhibition Group (IEG) as at 31 March 2023 amounted to 77 million Euros, up by 39 million Euros
compared to 31 March 2022.
The Gross Operating Margin Adjusted (EBITDA) is equal to 24.7, an increase of 17.7 million compared to the same period of the previous year in which it was equal to 7.0 million euros. The Adjusted EBITDA Margin stands at 32.1% of revenues compared to 18.4% recorded in the same period of 2022.
The Operating income Adjusted (EBIT) of the Group stands at 20.5 million Euros, an improvement of 17.5 million Euros compared to the same period of the previous year, expressing a profitability percentage of 26.6% compared to 7.9% of the same period 2022.
The Result before the taxes is equal to 19.5 million euros, an improvement of 16.2 million euros compared to the same period of the previous year. The Group’s Result for the Period amounted to Euro 14 million, up by Euro 12.2 million compared to the same period of 2022.
There Net Financial Position of the Group as at 31 March 2023 is equal to 91.3 million Euros, an improvement of 4.1 million Euros compared to 31 December 2022, thanks to the generation of operating cash of approximately 6.7 million Euros
L’Chief Executive Officer of the IEG Group, Corrado Arturo Perabonicommented as follows: “In the first quarter of 2023, the Group achieved extremely positive results, with a record turnover, the return to profitability and cash flow generation. The signs of a post-pandemic restart, which had manifested themselves at the end of 2022, were further consolidated and allowed the Group to recover the volumes of some exhibitions which in the first quarter of 2022 had suffered calendar slips, but above all to record solid growth organic, together with the expansion of the product portfolio with the first editions of K.EY, after the spin off from Ecomondo, and My Plant & Garden, in its first edition after the acquisition. We will continue pursuing the strategic objectives in 2023 executing the investment and development plans, both nationally and internationally, through strategic partnerships, new acquisitions and expansion of our products, maintaining the focus on the recovery of margins”.
(Photo: Italian Exhibition Group)