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05/07/2017

IEG SpA: Shareholders' Meeting approves 2016 Financial Statement

2016 FINANCIAL PERIOD: MAIN CONSOLIDATED FIGURES IEG's financial statement for 2016 reported a consolidated pro-forma1 turnover of Euro 124.8 million (+10.6% compared to 2015). The Gross Operating Surplus (EBITDA2) was Euro 21.9 million (+11.7%). The figures put IEG in first place among Italian trade show organizers and as the top trade show in terms of gross operating revenues. Net profits at 31st December 2016 stood at Euro 6.6 million (+20% compared to 2015). The Net Financial Position was negative for about Euro 40 million, with an easily sustainable ratio between business volume and debt level. The NFP was substantially the same compared to Rimini and Vicenza's joint NFP at 31.12.2015 despite the payment of shareholder dividends (Euro 14 million in 2016), costs for the ongoing expansion of Rimini Exhibition Centre and the new Hall 7 at Vicenza Exhibition Centre.    

OTHER SHAREHOLDERS' MEETING RESOLUTIONS: DIVIDENDS AND LAND
Furthermore, the Shareholders' Meeting confirmed IEG's BoD proposal to distribute ordinary dividends on the profits of 18 cents per share (9.46 cents in 2015, 6.5 cents in 2014). The Shareholders' Meeting then put into effect the BoD's proposal not to sell the land near the SOUTH entrance to Rimini Exhibition Centre since it is considered strategic for IEG's future development.  

THE NEW BOARD OF AUDITORS
During the Shareholders' Meeting, Italian Exhibition Group's Board of Auditors, which had come to the end of its term, was renewed. The President of the new Board is Mario Giglietti with Cinzia Giaretti and Marco Petrucci as standing auditors. The Board will remain in office until the Shareholders' Meeting that will approve the Financial Statement of the financial period ending 31st December 2019.