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Italian Exhibition Group: Board of Directors approves half-yearly financial report

August 27, 2019 by PressEditor

The Board of Directors of Italian Exhibition Group S.p.A (IEG), a company listed last June on the Milan Stock Exchange organized and managed by Borsa Italiana S.p.A., approved, on today’s date, the half-yearly financial report as at June 30, 2019.

Main consolidated results in the first half of 2019

The total revenues of the IEG Group amounted to € 99,932 thousand, growth of 29.3% over the € 77,309 thousand in the same period of the previous year. This result augments the significant growth already recorded at the end of 2018 (+ 22% over the previous year) and confirms IEG’s ability in development and integration projects.

EBITDA1 , following the application of IFRS 16, which generated a positive effect of approximately € 1.9 million, and EBIT reached € 26,575 thousand and € 17,691 thousand respectively, growth compared to the 2018 values, which did not reflect the effects of IFRS 16, which stood at € 17,039 and € 11,801 thousand respectively.

Without taking account of the effects of the aforementioned accounting standard, EBITDA1 and EBIT therefore recorded increases of + 44.8% and + 49.6% compared to the same period in the previous year, also confirming the further strengthening in the ability to manage operating costs and stabilise the efficiencies already achieved in the second part of the previous year.

The Group’s net result, albeit feeling the effects of the higher financial management expenses due to the application of IFRS 16 amounting to € 330 thousand and other expenses connected to the figurative payables from put options, stood at € 10,679 thousand, growth of 40.2% compared to € 7,618 thousand in the first half of 2018.

As at June 30th, 2019, the net cash financial situation, therefore without taking into account the higher payables of roughly € 32 million as a result of IFRS 16, financial payables for any future put options of € 15.8 million and derivative financial instruments for € 5.9 million, totalled € 66.5 million compared to € 66.9 million as at June 30th, 2018 and € 49.2 million as at December 31st, 2018. The latter increase is due primarily to the changes in Net Working Capital resulting from the seasonal cycle (around € 4.6 million), investments (€ 5.7 million) and the distribution of ordinary dividends which took place in May (€ 5.6 million).

The consolidated shareholders’ equity as at June 30th, 2019 came to approximately € 105.2 million, compared to € 102.5 million as at December 31st, 2018.

Results by business segment in the first half of 2019

The significant growth in revenues in the period derives from the positive results achieved by each business line and the increase of roughly € 22.6 million compared to the same period of the previous year is due to both the purely organic growth (up € 7.4 million equal to + 9.6%) and the change in the scope of consolidation. The latter takes account, for an amount of around € 15.2 million, of the revenues resulting from the acquisitions of stand fitting activities carried out last year (FB international in the US in March and Prostand – Colorcom in Italy in September 2018) and the arithmetic sum (with balance close to zero) of multiyear events or held in a different half from that of the previous year.

In particular, the Group’s “core business”, comprised of the direct organisation of trade show events, accounted for 53.7% of total revenues during the half, and recorded an increase of 6.6% compared to the previous year. This increase is attributable to the main leading products in the “Food & Beverage” and “Jewellery & Fashion” categories. The seasonal nature of the trade show calendar has a negligible impact and relates, in particular, to the Koinè event (biennial event in odd years) in February 2019.

The Convention Events business line, which accounts for 7.6% of total Group revenues, recorded an increase of 26% (up € 1.6 million) compared to the first half of 2018, thanks to the holding of larger conventions in terms of the number of participants, convention areas used and additional services required.

Revenues from related services, such as stand fitting activities, catering and cleaning, account for 35.2% of the Group’s total revenues and essentially doubled compared to the first half of the previous year (+97.8%). The growth in the revenues from catering services, driven by the development of trade show events organised and the management of new activities, was augmented by the higher revenues recorded in the event preparation services segment as a result of the already mentioned acquisitions.

Business outlook

The results achieved by IEG in the first half, although it should be noted that trade show and convention event activities are highly seasonal in nature, with the subsequent difficulty in comparing the various quarters of the year with one another, confirm the success of the organisational and management decisions made by the Company and allow the management to confirm the planned consolidation and growth objectives.

The Corporate Officer responsible for drafting the company’s accounting documents, Roberto Bondioli, hereby declares, pursuant to paragraph 2 of art. 154-bis of the Consolidated Law on Finance, that the accounting information contained in this press release corresponds to the documentary results, the books and the accounting records.

The Half-yearly Financial Report as at June 30th, 2019, approved on today’s date by the Board of Directors of Italian Exhibition Group S.p.A., will be made available, together with the Independent Auditors’ Report, on the Company’s website www.iegexpo.it in the Investor Relations Section, as well as in the company’s registered office and on the authorised storage system 1INFO Storage available at the address www.1info.it managed by 1INFO – Computershare S.p.A. – Via Lorenzo Mascheroni 19, 20145 Milan.

The results of the first half of 2019 will be illustrated in a conference call with the Financial Community set for today at 17.30 (CET). The presentation will be available in the Investor Relations section of the website www.iegexpo.it from 17.15.

FOCUS ON ITALIAN EXHIBITION GROUP SPA

Italian Exhibition Group (IEG), listed on the Milan Stock Exchange organized and managed by Borsa Italiana S.p.A., is the Italian leader in the organization of trade expos and one of the main players in Europe in the expo and conference sector, with its venues in Rimini and Vicenza. The IEG Group stands out for the organization of events in five categories: Food & Beverage; Jewellery & Fashion; Tourism, Hospitality & Lifestyle; Wellness, Sports and Leisure; Green & Technology. In recent years, IEG has launched an important process of foreign expansion, also by means of joint ventures inked with local players (e.g. in the United States, Arab Emirates and China). IEG ended the 2018 financial year with a total consolidated turnover of 159.7 million euros, an EBITDA of 30.8 million and a net consolidated profit of 10.8 million euros. In 2018, IEG held an overall total of 53 exhibitions organized or hosted and 181 conferences events in its Rimini and Vicenza expo and conference venues.

MEDIA CONTACT: ITALIAN EXHIBITION GROUP S.P.A. Investor Relator Roberto Bondioli |[email protected] | +39 0541 744642 Press Contact Elisabetta Vitali |Head of media relations & corporate communication | [email protected] | +39 0541 744228

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Italian Exhibition Group returns to China to promote international tourism

April 17, 2019 by Forimmediaterelease

Italian Exhibition Group (IEG) is returning to China to promote international tourism business. The appointment is at the Shanghai World Travel Fair (SWTF), one of the major tourism industry expos of Eastern China, the 16th edition of which is being held from 18th to 21st April.

Over 750 exhibitors from 53 countries and regions of the world are awaited at the Shanghai Exhibition Center.

SWTF, co-organized by Europe Asia Global Link Exhibitions (EAGLE) – joint venture created by Italian Exhibition Group (IEG) and VNU Exhibitions Asia – and Shanghai International Convention & Exhibition Corp. Ltd (on behalf of Shanghai Municipal Administration of Culture and Tourism), offers the sector’s trade members a unique business platform and, for the general public, an all-round insight on tourism products, all in the largest tourism region of the Chinese market, Eastern China (China is the world’s largest outbound tourism market, with 149.72 million outbound journeys and a 14.7% increase in 2018).

With over 15,000 trade members expected and a public of 50,000 visitors, the 2019 edition of SWTF will host a busy calendar of appointments and new features. Visitors will explore tourist destinations from all over the world, including Argentina, Australia, Bulgaria, Cuba, Gabon, Germany, Italy, Japan, Kenya, Madagascar, Morocco, Papua New Guinea, Peru, Russia, Sri Lanka, South Korea, Tanzania, Turkmenistan and Vietnam. SWTF will highlight the entire tourism chain, starting with tourist offices, travel agencies and tour operators, OTA, hotel, airlines, theme parks and resorts, as well as travel services and insurance companies.

On a professional level, SWTF reconfirms its role as a great opportunity for matching to all effects. Over 3,000 B2B appointments with selected buyers from all over Eastern China will take part in the events and the panel scheduled on the latest trends in outbound tourism, organized in cooperation with China Travel Agent. Regarding this, an exclusive B2B area has been realized, which will be accessible to the sector’s trade members exclusively via a face detection system, in order to ensure the quality of the meetings with international suppliers.

Emerging destinations, digital marketing, developments on visa policies and MICE, are just some of the issues that will be covered in the panels by the sector’s opinion leaders, ready to share their successful case histories with the public. Plus, among the speakers, there will also be representatives of the top management of companies such as Ctrip, Tuniu, Uzai, Spring Tour and Tongshen Group, as well as the directors of the Tourism offices of New Zealand, Switzerland and Serbia with branches in Shanghai.

Travel News | eTurboNews

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IGLTA honors ITB Berlin for its commitment to LGBT+ travel segment

April 17, 2019 by Forimmediaterelease

The reward for promoting awareness and acceptance of the LGBT+ Community in the global tourism industry: at the Annual Global Convention, which will take place from 24 to 27 April at the Hilton Midtown New York City, the International LGBT+ Travel Association (IGLTA) will present ITB Berlin with the Vanguard Award.

Every year, together with the IGLTA Foundation (www.iglta.org/The-IGLTA-Foundation), the public charity subsidiary of the IGLTA, the directors’ board presents the IGLTA Honors. The recipients are individuals, companies or organizations who have improved relations within the tourism community and raised awareness of LGBT+ travel around the world. The LGBT Travel Pavilion of ITB Berlin celebrated its debut back in 2010, and since then has become a highly-regarded role model for the presentation of the gay and lesbian travel segment at an international travel show. In addition to the extensive display area with its own conference venue, supporting events such as the LGBT+ Media Brunch, networking events, informative lectures, the LGBT+ ITB Convention Seminar – which since 2 years also includes the bestowal of an ITB Pioneer Award -, and, as of this year the International LGBT+ Leadership Summit, attract many visitors.

ITB’s commitment has made it possible to also position this segment at ITB Asia in Singapore and organize international ITB Academies on this topic as recently in Malta and Japan.

”ITB Berlin is proud to occupy a pioneering role in this important subject, and to be the recipient of such a prestigious award for its continuing efforts to promote international recognition of LGBT+ travel“, said Rika Jean-François, CSR officer of ITB Berlin and responsible for this segment. ”What began as a few community pioneers exhibiting here and there around ITB Berlin has over the years become a recognized platform. Together with our partner Diversity Tourism we have created a globally unique forum.“

”We have got to the point now where at ITB Berlin we have created one of the liveliest and most diverse LGBT+ Travel Pavilions possible, with exhibitors and people taking part in discussion rounds from around the world“, is how Thomas Bömkes, LGBT+ consultant for ITB Berlin and Managing Director of Diversity Tourism GmbH described this market’s rising prospects. Rika Jean-François added: ”This award will give us the strength to continue defending LGBT+ travelers against discrimination in every country in the world and to ensure that they, just like any other travelers, can visit places where also local people are respected regardless of their sexual orientation.” Thomas Bömkes pointed out, that the economic potential of this travel market cannot be underestimated: “Studies have shown that accepting diversity can contribute significantly to a destination’s economic success.“

LGBT tourism has been represented at ITB Berlin since the Nineties. As a result of ITB Berlin’s CSR policy which promotes diversity and defends human rights in tourism and due to the keen interest expressed by exhibitors and visitors, Gay & Lesbian Travel was officially declared a segment in its own right at ITB Berlin 2010. Openness, creativity and lively interaction are the dominant features of this segment that has become one of the most wide-ranging at ITB Berlin. The LGBT Travel Pavilion currently boasts the world’s largest display of products for the gay and lesbian travel market of any trade show in the world.

Travel News | eTurboNews

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Africa Tourism Leadership Forum: Next stop Durban

April 16, 2019 by Forimmediaterelease

Themed “Stimulating intra-Africa Travel through thought leadership,” the 2019 Africa Tourism Leadership Forum (ATLF) is the only Pan-African public-private tourism leadership dialogue platform that is convened, led, and hosted by Africans in Africa. The African Tourism Board is a strategic partner for the event.

The 2019 ATLF and Awards will be hosted by Durban KwaZulu-Natal Convention Bureau in Durban, under the auspices of the Provincial Government of KwaZulu-Natal, South Africa from August 29-30, 2019. It is convened by African Tourism Partners with the support of its key strategic partners including BDO South Africa, NEPAD, Africa Travel Associations (ATA) and Voyages Afriq.

According to Mr. Sihle Zikalala, Provincial Minister for Economic Development, Tourism and Environmental Affairs in the KwaZulu-Natal, gatherings like ATLF allow thought leaders in Africa to bring into the limelight exceptional industry developments and inspiring stakeholders who work hard to build a sustainable African travel and tourism industry.

“As the proud host of ATLF 2019, we look forward to welcoming all stakeholders from across the continent and the rest of the world, not only this innovative event but, also to experience what South Africa and our beautiful Province offer the world. ATLF is an African Project that we must all be part of and support,” says Mr. Zikalala.

The 2018 ATLF and Award edition was held in Accra in Ghana. It was hosted by the Government of Ghana through Ghana Tourism Authority and its parent Ministry of Tourism, Arts and Culture. This was attended by Tourism Ministers as well as over 500 public and private sector executives. These included representatives of UNWTO, NEPAD, Diplomatic Corps, Directors-General, global hotel brands, travel management companies, associations, regional executives of airlines, tour operators, educational institutions, researchers and many other industry professionals.

Kwakye Donkor, Africa Tourism Partners’ (ATP) CEO congratulates KwaZulu-Natal Province for winning the bid to host the 2019 ATLF and Awards. “The Provincial Leadership has truly exemplified true values of thought leadership by aiming to bring together industry leaders in Africa to Durban, to once again advance their commitment to promote intra-Africa travel, dialogue and recognize change-makers in Africa’s tourism development as a collective,” says Donkor.

Among the key focus areas of dialogue during the 2019 ATLF and Awards are:

  • The present and future imperatives of Visa Openness, E-visas and Air Connectivity
  • Outlook on the impact Business and MICE Tourism on national economies
  • What it takes for Africa to harness the multi-level Chinese outbound travel market
  • How to embrace and optimize disruptive technological innovation for intra-Africa travel
  • Delivering critical travel and tourism infrastructure with Development Finance Institutions
  • Spotlight on wildlife and biodiversity conservation as strategic tourism assets in Africa
  • Skills Development and Capacity Building across the sector value chain and more
  • Practicalities of Measuring the Return on Destination Marketing Investment

The Africa Tourism Leadership Awards recognizes the best African travel and tourism industry change-makers and innovators. For strategic partnerships, attendance or more information, please contact Ms. Nozipho Dlamini at: [email protected] and +27 81303 7030.

Travel News | eTurboNews

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African Tourism Board Launch was a success: A new era just started for African Travel & Tourism

April 12, 2019 by Forimmediaterelease

The two arms of the African Tourism Board had their official launch event yesterday at the Cape Town International Convention Center Conference Theatre during World Tavel Market Africa.

The African Tourism Board Association and the African Tourism Board Marketing Association are joining under the brand African Tourism Board and are now seen as a new Chapter on how Africa becomes one tourism destination. Both arms have access to the “ATB friends of the media group”, and are coordinating activities and events whenever possible.

The Association is fully under African Leadership. It’s based in South Africa, and is forming an initial group of directors to work with newly appointed President Alain St. Ange from Seychelles.

On his team of supporters are Cuthbert Ncube, Regional Vice-Chair UNWTO Affiliate Membership and Chief Executive Director Kwela Fleet Management. The Hon. Minister or Tourism for the Kingdom of Eswatini, formerly Swaziland, Kwakye Donker, CEO African Tourism Partners in Ghana and South Africa, Francoise Kameni Lele, AFBS Cameron, the Hon. Minister Madam Memunatu B. Pratt, the Minister of Tourism and Cultural Affairs for Sierra Leone, among many others.

African Tourism Board Marketing Association is based in the United States and is providing overseas marketing support for Africa under the leadership of Juergen Steinmetz of the eTN Group in Hawaii, USA and Doris Woerfel in Pretoria, South Africa. Together with a team of global supporters, the marketing arm of ATB will explore new opportunities and cost-sharing projects for inbound tourism for the African Continent.

As a start at the ATB launch last night Dov Kalmann explained the potential of travelers from Israel for Africa and introduced the new African Tourism Board office in Tel Aviv.

Arjun Mukund from Delhi, India said 1.2 billion Indians are current and future potential travelers and he wanted to make sure the African Tourism Board in India will help to achieve growing interest for Indian tourists.

Additional ATB offices are planned in the United States and Germany to start with.

Chairman Juergen Steinmetz explained: “Sharing resources, going after potential niche markets, sharing costs and giving both destinations and stakeholders representation in key markets will help to raise awareness for the African continent. We like to open a window for large, medium and small businesses in a sustainable way.”

Newly appointed CEO Doris Woerfel sees huge potential for Africa from China and will be concentrating to build a broad membership base in Africa for ATB.

The launch was an action-packed event in Capetown hosted by Carol Weaving, Managing Director of Reed Exhibition Africa. She pledged the support of the World Travel Market for African Tourism Board.

Cape Town Tourism CEO Enver Duminy supported the need for an African Tourism Board in his welcome remark.

The highlight of the event was a 30-minute presentation by Dr. Peter Tarlow on security and safety. There is no tourism without security, he said in an engaging session last night. Dr. Tarlow was appointed as the new Travel & Security advisor for African Tourism Board Marketing Association. He is leading safertourism.com

The launch started with a dinner sponsored by Tony Smith of the HongKong based iFREE Group . The group also provided free ATB sim cards to everyone attending.

Professor Geoffrey Lipman introduced the African Lung initiative by video.

More information on African Tourism Board please visit www.africantourismboard.com 

Travel News | eTurboNews

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