Half-year Financial Report
at 30 June 2023
(First half of FY2023)
This document is available in the Investors section of the Company website,
www.fieramilano.it
This document contains a faithful translation in English of the original report in Italian "Relazione finanziaria semestrale al 30 giugno 2023 ".
However, for information about Fiera Milano Group reference should be made exclusively to the original report in Italian. The Italian version of the Relazione finanziaria semestrale al 30 giugno 2023 shall prevail upon the English version.
Fiera Milano SpA
Registered office: Piazzale Carlo Magno, 1 - 20149 Milan
Operational and administrative office: SS del Sempione, 28 - 20017 Rho (Milan)
Share Capital: Euro 42,445,141.00 fully paid up.
Companies Register, Tax Reference and VAT no. 13194800150
Economic Administrative Register 1623812
Rho (Milan), 26 July 2023
Contents
Page | |
CORPORATE BODIES AND INDEPENDENT AUDITOR | 3 |
BUSINESS MODEL | 4 |
GROUP STRUCTURE | 5 |
HIGHLIGHTS OF THE FIRST SEMESTER 2023 | 6 |
FIERA MILANO GROUP HALF-YEARFINANCIAL REPORT
- Interim report on operations
• | Summary of results and significant events in the first half of the year | 7 |
• | Business performance by operating segment and by geographic area | 17 |
• | Information on related-party transactions | 22 |
• | Group personnel | 22 |
• | Risk factors affecting the Group | 22 |
• | Key data of the companies of the Group | 32 |
• | Significant events after the end of the reporting period | 34 |
• | Business outlook | 34 |
- Interim Condensed Consolidated Financial Statements at 30 June 2023
• | Consolidated Statement of Financial Position | 36 |
• | Consolidated Statement of Comprehensive Income | 37 |
• | Consolidated Cash Flows | 38 |
• | Consolidated Statement of Changes in Equity | 39 |
• | Illustrative notes: | |
− Accounting standards and consolidation criteria | 40 | |
− Disclosure on subsidiaries, joint ventures and associates | 45 | |
− Segment information | 49 | |
− Notes to the Interim Condensed Consolidated Financial Statements | 52 | |
− Attachment 1 - List of companies included in the consolidation area and other investments | 83 | |
at 30 June 2023 |
Declaration relating to the Interim Condensed Consolidated Financial Statements in | |
accordance with Article 154-bis paragraph 5 of Legislative Decree 58/98 | 84 |
Independent Auditor's Report | 85 |
2
Corporate Bodies and Independent Auditor
_______________________________________________________________________________
BOARD OF DIRECTORS
Carlo Bonomi | Chairman° |
Francesco Conci | Chief Executive Officer |
Michaela Castelli | Director* |
Regina De Albertis | Director* |
Paola Annamaria Petrone | Director* |
Monica Poggio | Director* |
Ferruccio Resta | Director* |
Agostino Santoni | Director* |
Elena Vasco | Director* |
- Independent director pursuant to art. 148, paragraph 3 of Legislative Decree 58 of 24 February 1998.
- Independent Director under Art. 148, paragraph 3 of Italian Legislative Decree 58 of 24 February 1998 and the Corporate Governance
Code of Borsa Italiana
CONTROL AND RISK COMMITTEE | APPOINTMENTS AND | SUSTAINABILITY |
REMUNERATION COMMITTEE | COMMITTEE | |
Michaela Castelli | Agostino Santoni | Ferruccio Resta |
Paola Annamaria Petrone | Regina De Albertis | Michaela Castelli |
Ferruccio Resta | Monica Poggio | Elena Vasco |
BOARD OF STATUTORY AUDITORS | FINANCIAL REPORTING OFFICER | |
Monica Mannino | Presidente | Massimo De Tullio |
Piero Antonio Capitini | Sindaco effettivo | |
Daniele Federico Monarca | Sindaco effettivo | |
Livia Amidani Aliberti | Sindaco supplente | |
Simone Bruno | Sindaco supplente |
SUPERVISORY BOARD, LEGISLATIVE DECREE 231/01
Enrico Maria Giarda
Luigi Bricocoli
Basilio Postiglione
---
The Board of Directors was appointed by the Shareholders' Meeting of 27 April 2023. The Directors' mandates will expire at the Shareholders' Meeting to approve the Financial Statements at 31 December 2025.
The Board of Directors is invested with the broadest powers for the ordinary and extraordinary management of the Company; it has the power to carry out all acts it deems appropriate or useful to attain the corporate objectives, except for those which, pursuant to law, are reserved for the Shareholders' Meeting.
Under the law and the Company Articles of Association, the Chairman is the company's legal representative. He is also vested with all powers over Fiera Milano's institutional external relations.
The Shareholders' Meeting appointed the Board of Statutory Auditors on 28 April 2021, and its mandate expires at the Shareholders' Meeting to approve the Financial Statements on 31 December 2023.
INDIPENDENT AUDITORS
PWC SpA
The mandate, given by the Shareholders' Meeting of 27 April 2023, is for the financial years 2023-2031.
3
Business model
_______________________________________________________________________________
The Fiera Milano Group is active in all the key areas of the exhibition and congress industry and is one of the largest integrated exhibition companies worldwide.
Under the current management approach, the operating segments have been re-defined as follows:
-
Italian Exhibitions Business: organisation and hosting of exhibitions and other events in
Italy: through the use, promotion and offer of furnished exhibition spaces; through the provision of stand-fitting, technical and site services associated with exhibition and congress business; and through the provision of project support and ancillary services; the production of content and provision of advertising and digital services, as well as the organisation of conferences and training courses. Specifically, this segment includes all activities associated with exhibitions (including end services for exhibitors and visitors) that are: - directly organised by the Group or in partnership with third-parties;
- organised by third parties, through the hiring out of spaces and services.
- Foreign Exhibitions Business: this segment covers all activities for the organisation of exhibitions and other events abroad through the use, promotion and offer of furnished exhibition spaces, project support, and ancillary services. It covers all activities associated with exhibitions (including end services for exhibitors and visitors) that are directly organised by the Group or in partnership with third-parties or acting as agents.
- Congresses: this segment covers the organisation of congresses and events and destination management services.
4
Group structure
5
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Fiera Milano S.p.A. published this content on 26 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2023 12:43:58 UTC.