Merger between Rimini Fiera and Fiera Vicenza
Italian Exhibition Group Spa (IEG), a new company formed as a merger between Rimini Fiera Spa and Fiera di Vicenza Spa, was officially unveiled on 28 October this year.
As the first example in Italy of a merger between trade show management companies, the new organisation brings together the experience, expertise and positioning of two leading players in the Italian trade fair sector which in more than 60 years of operations have developed their shows into leading international events for major production sectors.
Italian Exhibition Group becomes the largest management company in Italy in terms of the number of directly organised events, with a portfolio of 61 exhibitions (90% wholly owned) in major Italian production sectors including Food&Beverage, Green, Technology, Entertainment, Tourism, Transport, Wellness, Jewellery, Fashion, Lifestyle&Innovation, as well as 160 events and congresses.
Based on the two exhibition companies’ financial strength and recent years’ performances, the new organisation is expected to achieve outstanding aggregate economic results in 2016, including a turnover of around 119 million euros, EBITDA of 19% (22.1 million euros), EBIT of 11% (13.6 million euros) and net equity of more than 100 million euros.
"This is a ground-breaking operation that will act as a role model. IEG brings together two robust companies with a business plan designed to exploit the clear market opportunities available in Italy and worldwide," said Lorenzo Cagnoni, Chairman of Italian Exhibition Group. "As for the future we’re looking to a stock exchange listing in spring 2018, markets permitting. By that date we will also have the financial statement for 2017, the first year following the merger."
One of the priority assets is internationalisation with the aim of attracting foreign buyers and exhibitors to Italy and developing business in strategic foreign markets. For this purpose, the Group is starting out with a solid international market presence with a joint venture in the UAE, presences in the USA, China and India, and projects that are well underway in South America. An investment plan is also envisaged to further develop the two exhibition centres in Rimini and Vicenza, already business centres of with high international profile, and to drive the product portfolio towards growth through acquisitions. The names Rimini Fiera and Fiera di Vicenza will be retained to indicate the operational headquarters and respective exhibition centres.