ITALIAN EXHIBITION GROUP: the Board of Directors approves the consolidated financial statement for 2016. Revenues have grown; Group net profits stand at Euro 6.6 million; shareholder dividend doubles
IEG's consolidated pro-forma turnover at December
31st 2016 was equal to Euro 124.8 million (+10.6% compared
to Euro 112.8 million of the pro-forma for 2015). The Gross
Operating Surplus (EBITDA) at December 31st 2016 came to Euro
21.9 million (+ 11.7% compared to 2015). Consolidated pro-forma Net Profits at December 31st 2016
equalled Euro 6.6 million (+ 20% compared to Euro 5.5 million in 2015).
At December 31st
2016 the Net Financial Position was negative for about Euro 40 million, with
an excellent business volume and debt level ratio, that is, one that can easily
be dealt with. The NFP was substantially the same as Rimini and Vicenza's
NFP at 12/31/2015, despite the payment of shareholder dividends to the
value of Euro 14 million, costs for the first instalment for expanding the
Rimini venue and deadlines for the last
payments for the construction of the new Hall 7 at the Vicenza venue.
In 2016, IEG events at its exhibition and congress sites in Rimini and Vicenza hosted a total of 59 shows, 216 congresses and events with 14,593 exhibitors and almost 2.5 million visitors.
Figures which put
IEG in second place among Italian trade show companies in terms of turnover
volume and in first place for directly organized shows and earning capacity.
The turnover volume
is an excellent result, higher than IEG
had predicted in the budget for 2016. Profits were also in line with
objectives and forecasts for shareholder dividend payments have been
maintained. An outlook which will be well accepted among the documents that
make up the future Stock Exchange listing and that, by maintaining turnover and
earning levels, is an improvement on the already optimal performances of 2015
IEG management – supported by the excellent
results of the first quarter - is therefore confident of achieving the
ambitious results forecast in the 2017 budget.
At the same meeting
on April 28th, the IEG Board of Directors deliberated the
proposal for an ordinary dividend payment of 18 cents per share (the ordinary dividend was 9.46 cents and 6.5 cents in 2015 and 2014
respectively) which is to be submitted to the next Shareholders' Meeting.