Veronafiere, results above pre-Covid levels in 2023

Veronafiere closes a record balance sheet in 2023, with turnover, Ebitda and profits also higher than 2019 levels. Revenues reached 120.5 million euros, an increase of 11.8% (i.e. 12.8 million euros) compared to 2022. Ebitda was 22.3 million euros, an improvement of 25.9% compared to 2022, exceeding budget estimates by 4.6 million euros. The group’s net result shows a profit of 3.9 million euros, with a clear turnaround compared to the 5.1 million euro loss in the 2022 financial year.

As regards the parent company Veronafiere, revenues reached 93.8 million euros, with an increase of 16% (equal to 13 million euros) compared to 2022. Ebitda is 14.1 million euros, in growth of 19.4% (2.4 million euros) compared to the previous year. The net result shows a profit of 2.3 million euros, compared to a loss of 6.1 million euros in 2022.

«The numbers highlight the double-digit growth in turnover, confirming the vitality of well-managed products, as well as the services developed by the parent company and the team – comments president Federico Bricolo -. The group’s revenues are also higher than the results of 2019. An element of absolute importance, the cash generation, solid also thanks to the evolution of working capital, has significantly and virtuously reduced the size of debt: the financial structure of the Veronafiere group is solid once more” .

Furthermore, margins and profitability adjustedi.e. stripped of extraordinary and non-repeatable items, «are significantly higher than reported indications, supporting the prospect of acceleration of margins for Veronafiere in 2024» adds the CEO, Maurizio Danese.

Results made possible by a combination of factors, including the normalization of the trade fair calendar, adds Danese, «with the full resumption of the direct organization of exhibitions, events and initiatives, in addition to the conference-congress activity». In 2023, 50 events took place, of which 39 in the Verona exhibition center (with 770 thousand visitors, 11 thousand exhibitors and a net exhibition area of ​​567 thousand square metres) and 11 abroad in Brazil, China, the Netherlands, Peru, Serbia and United States. The conferences hosted in the Veronafiere conference structure were 280, for a total of 60,500 participating operators.