THE BOLOGNAFIERE BOARD HAS APPROVED THE 2019 DRAFT FINANCIAL STATEMENTS

29 May 2020

Today, BolognaFiere’s Board of Directors held its second meeting since the beginning of the Covid-19 emergency. The meeting provided the opportunity to approve the 2019 Draft Financial Statements, which will be presented for approval at the next shareholders’ meeting, and to reflect on the important results achieved during the three-year mandate of the current Board led by President Calzolari, which will be completed with the approval of the 2019 Draft Budget. 

The company’s activities have been characterized in the last three-year-cycle by the successful achievement of a series of goals that confirm the company’s profile as a consolidated player at both national and international level. 

The consolidation of economic results, the enlargement and restyling of the Exhibition Centre as outlined in the Development Plan, and the activation of new national and international initiatives and partnerships have been the goals guiding the work of the Company’s management and staff. 

The economic-financial data for the 2019 Draft Financial Statements shows a production value that has passed from 132.4 in 2016 to 195.5 million euro (+48%) in 2019. 

Also the figures for EBITDA have been markedly positive, passing from 21.2 million euros in 2016 to 34.1 million euros in 2019 (an increase of 61%). The latter figure represents 17.3% of turnover in 2019, thus confirming the Group’s capacity to generate value. 

EBIT has seen an increase of 74% passing from 6.6 million euros to 11.5 million euros in 2019. 

Pre tax profits for the financial year are estimated to be 9.1 million euros. 

Concerning the extension and restyling works at the Exhibition Centre, the demolition and reconstruction work on pavilions 29-30 was completed in just 10 months and the launch of the construction of the new pavilion 37, which is being built on the site of the former area 48, has begun on schedule. The new structure will increase the covered exhibition space at the exhibition centre by a further 15,000 square metres and is set to be inaugurated at the 2020 edition of CERSAIE, scheduled for November. 

Regarding core business, in recent years BolognaFiere has extended and further reinforced its international exhibition network that now makes the Group one of the world’s leading players with new important events: from those in the publishing sector in China, the United States and Russia, to the sophisticated exhibition circuit for the sector of Cosmetics where the company has a presence in almost every continent with the platforms Cosmoprof and Health&Beauty. 

“The results achieved in this three-year cycle,” announced President Calzolari, “reflect the reality of a company with a solid grounding of know-how that is recognised internationally. The Covid-19 emergency will, unfortunately, cause a temporary interruption to a decisively positive trend that has seen us experience constant growth in recent years. The pandemic has had a significant impact on the global economy and, consequently, also on the activities of trade fairs and national and international exhibition centres, which have been forced to postpone, suspend and even cancel the majority of events scheduled to take place during the first half of 2020. We now face a new challenge that concerns the entire economic system that will have to rethink current models, taking into account factors such as health, the environment and sustainability. In this new challenge the trade fairs will play a central role. For this reason we must continue to work alongside institutions and the business fabric with a vision that is open to new business and with a highly proactive approach, continuing to serve as a showcase for innovation and as a partner in the definition of development strategies. Our activities,” concluded Calzolari, “will recommence with these goals in mind, beginning on the international market in the month of July with the SOUTH CHINA BEAUTY EXPO event in Shenzhen, confirmed to take place from 30 July to 1 August. In the autumn activities will recommence in Bologna with CERSAIE that will see the inauguration of the new pavilion 37 and focus attention on a field of particular Italian industrial excellence.”