The Italian Exhibition Group (IEG)’s Interim Financial Report at 31 March 2025 has revealed a new record quarter for the Group, with revenues rising €14m to €103m (+15.7% compared to the first quarter in 2024).
Growth for the period continues to be driven by the development of flagship events in the organised events portfolio, the report noted, contributing approximately €11.1m to revenue growth, as well as by the Conference division, which contributed a further €2.6m. The first quarter also benefited from changes in the scope of consolidation resulting from acquisitions, amounting to around €1.m, as well as from some scheduled events, which contributed around €2.1m to first quarter revenues. Like-for-like growth was 7.6% year on year.
The Group ended the quarter with a net profit of €21.5m, compared with €23.3m as of 31 March, 2024, despite the normalisation of the tax rate from 19.7% in the first quarter of 2024 to 33% as of 31 March, 2025, with an increase in the tax burden for the period of about €4.9m.
Adjusted EBITDA was €38.2m (+11.2% compared to the first quarter in 2024) and the IEG Board also reported “robust growth of the main trade show events and congress activities” in the period under review.
Investments in the expansion of Vicenza Expo Center continue according to schedule and other highlights of the report included the successful launch of the first edition of the Riyadh Muscle Show in Saudi Arabia, and the first geo-cloning of the Wellness & Outdoor division’s proprietary event in the Arab Emirates.
IEG Group CEO Corrado Peraboni (pictured) commented: “The Group’s excellent results achieved in the first quarter of 2025 marks a further step forward along the growth path set in the Strategic Plan. The sound organic growth of the first quarter was boosted by the contribution of the new acquisitions. In the foreign markets in 2025 we accelerated the product portfolio development with the acquisition of ‘Fenagra’ in Brazil, an international exhibition in the high potential agroindustry sector. We also launched the first edition of an event in the wellness sector in Saudi Arabia named ‘Riyadh Muscle’, cloning a similar event that we organise in the United Arab Emirates. Besides this, we strengthened the development of the Service division with the acquisition of Immaginazione, a company specialised in graphic design and staging for conference events, pursuing the vertical integration of our service’s offering. “The 2025 first quarter results show once again the strength of our portfolio’s flagship events such as SIGEP, Vicenzaoro and KEY amongst others, whose performance backed the 15% turnover growth in the first three months of the year. Expansion investments in our venues proceed according to plan allowing us to grow further in the upcoming years.”
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