Veronafiere: Group revenue at €125.5 million in 2024 – best results ever, net profit +150%, ebitda up 16%

Approved today unanimously by the Shareholders’ Meeting of Veronafiere the consolidated financial statements as of 31 December 2024: revenue growth, record profit and strengthened financial position

Verona, 5 May 2025 – The year 2024 marks the best financial results ever in Veronafiere’s history, both for the Group and the Parent Company. The results, previously approved by the Board of Directors and today unanimously ratified by the Shareholders’ Meeting of Veronafiere, confirm the full relaunch of trade fair activity and the effectiveness of the new strategic direction set out in the ONE Veronafiere 2024–2026 Plan.

The Group’s consolidated revenue reached €125.5 million, an increase of €5 million compared with €120.5 million in 2023. EBITDA stood at €25.8 million, up €3.5 million from €22.3 million the previous year, representing a growth rate of 15.7%.

The Group’s net profit as at 31 December 2024 totalled €9.5 million, compared with €3.8 million in 2023 – an increase of 150%.

The parent company Veronafiere S.p.A. also recorded significant results. Revenue reached €101.5 million, an increase of €7.7 million compared with €93.8 million in 2023 (+7.8%). EBITDA reached €20 million, improving on the previous year’s figure by €5.9 million (+37.3%). Net profit for the parent company rose to €9.2 million, almost quadrupling the €2.3 million recorded in 2023.

In terms of assets, working capital management showed a marked improvement, with a reduction in trade receivables of €4.2 million and other receivables of €8.3 million. Net financial debt (NFD) fell sharply from –€17.9 million to –€6.4 million, with an NFD/EBITDA ratio of –0.25 (compared to –0.80 in the previous year), confirming the progressive strengthening of the Group’s financial position.

Shareholders’ equity increased by €4.8 million, the combined effect of the year’s result and the increased shareholdings in subsidiaries.

Record results and international growth

These record results reflect Veronafiere’s strong calendar of events in 2024: 45 exhibitions, of which 35 in Italy and 10 abroad in Brazil, China, Kazakhstan, Serbia and the United States.

The Exhibition Centre welcomed 861,090 visitors and 11,867 exhibitors, across a total net exhibition area of 623,272 square metres. The congress centre hosted 342 events, attended by 62,900 professionals.

“Among the most important achievements of 2024 is the new momentum we have given to the international expansion of Veronafiere and its brands,” said Federico Bricolo, President of Veronafiere.
“In October we brought the world of wine to Chicago with the first edition of Vinitaly USA. At the same time, a new chapter opened in South America with the transformation of the historic Vitória Stone Fair into Marmomac Brazil in São Paulo. The strengthening of our operational structures in Asia and Brazil has further consolidated the global positioning of the Veronafiere brand.

The Board of Directors and the Veronafiere management team have shared objectives throughout a highly intense year, further complicated by growing geopolitical instability. In this context, we have begun to implement the strategic lines of the ONE Veronafiere Plan, achieving concrete and significant results in its first year.”

“The guiding principle of all our activities has been the 2024–2026 Strategic Development Plan, approved at the end of 2023,” confirmed Adolfo Rebughini, General Manager of Veronafiere.

“Our goal was clear: to enhance all Group companies under a single direction – from fitting and set-up services to international subsidiaries – in order to create value in terms of turnover and market know-how across the industries represented by Veronafiere’s trade shows and events worldwide.

Our growth path has been shaped around a business model in which the human factor is the key to success, built on four pillars: sustainable growth in domestic business, structured international presence, development of a comprehensive and competitive offer of services and set-ups, and data use to support business.
To support these directions, we implemented targeted actions: corporate streamlining, organisational restructuring with investments in people, technological and infrastructural interventions, and ESG policies integrated at all levels.
This evolution and growth path in 2024 once again saw the vital contribution of all our employees who, with professionalism and passion, helped reaffirm Veronafiere’s crucial role in promoting strategic Made in Italy supply chains around the world.”

Sustainability, inclusion and governance

In 2024 Veronafiere continued its environmental sustainability path with the activation of a new photovoltaic plant installed on the roof of Pavilion 8, capable of generating 1,184 MWh of clean energy per year and reducing CO₂ emissions by 770 tonnes.

82% of waste generated during exhibitions was sent for recovery, and five charging stations for electric vehicles were installed at the exhibition centre.

Social commitment was reflected in numerous inclusion and shared-responsibility projects, including Riding the Blue, Si sostiene in carcere, Cantine della solidarietà, Apen’Down and the Galileo cooperative project promoting job opportunities for people with disabilities.

On the governance side, Veronafiere strengthened its internal policies focused on equality and inclusion, and promoted a corporate culture based on respect, empowerment and employee well-being.

Key milestones include obtaining the Gender Equality Certification (UNI/PdR 125:2022) and implementing continuous training programmes, as well as adopting a new Code of Values drafted with employee involvement.

Results of the 2022–2024 mandate

“Over the 2022–2024 period,” explained Maurizio Danese, Chief Executive Officer of Veronafiere, “the company, under the guidance of its shareholders, has completed a process of industrial and financial strengthening that redefined its governance model, consolidated its accounts, relaunched core operations and activated long-term strategic planning.

A General Manager was appointed, and the main operational areas (B2B, B2C and Wine & Food) were restructured, with enhanced marketing, communications and control functions.

Economically, the mandate began with a complex situation and closed with the Group’s full financial recovery: from a consolidated loss of €6.1 million in 2022 to a profit of €3.9 million in 2023, alongside revenue growth of +11.9% and a 26.2% increase in EBITDA. The 2024 results further confirmed this trajectory.

In addition, a corporate reorganisation programme was carried out, rationalising the Group perimeter through the incorporation of PMT, the disposal of VPE, Metef and Lems India, and the reorganisation of Eurotend and Intex.”

Between 2022 and 2024, Veronafiere organised 144 events (109 in Italy and 35 abroad), with 12 new products, welcoming over 2.3 million visitors across 1.77 million square metres of net exhibition space, and hosting 870 conferences attended by 165,000 professionals.

These results were made possible by a strong focus on incoming, ensuring the circulation of ideas and business opportunities.

Key achievements over the three years include:

– Fieragricola 2023, with 140,000 visitors;

– Vinitaly 2024, with 97,000 attendees and an increase in international operators from 140 countries;

– the 126th Fieracavalli, featuring over 2,200 horses and 700 exhibitors from 25 countries;

– Marmomac 2024, with 1,485 exhibitors from 55 countries and 50,000 visitors, 66% of whom were international.

In the B2C portfolio, the creation of the Entertainment Area brought major international guests such as Bob Sinclar and Sven Väth to the redeveloped Gallerie Mercatali.

Veronafiere continued to strengthen the international presence of Vinitaly with the debut of Vinitaly USA, new roadshows in emerging markets such as Almaty and New Delhi, and the expansion of its portfolio with new shows in Italy and abroad, including Marmomac Brazil, Solar & Storage, SOL2Expo and Vita in Campagna, as well as stops on the Amerigo Vespucci world tour in Tokyo, Doha and Jeddah.

A highlight of 2024 was the event The Economy of Francis and the World of Italian Wine, culminating in an audience with the Holy Father.

Since 2022, Veronafiere has implemented a clear sustainability roadmap, becoming the first Italian exhibition organiser to obtain integrated SI Rating certification.

It has established new strategic committees, obtained environmental and social certifications (ISO 45001, ISO 50001, Gender Equality), and completed key infrastructural projects.

Corporate governance of subsidiaries Eurotend, Intex and Intex US has been strengthened, appointing three parent company employees to administrative roles through a fit-and-proper process based on competence and alignment with company values.

In 2024, infrastructure investments continued for the regeneration and modernisation of the exhibition centre, including completion of the Porta L renovation, the new Scaligero Entrance and the surrounding pedestrian pathway. Work also began on upgrading food service areas to improve functionality and diversify the offer.

The long-term vision is that of a trade fair district that serves as a model of sustainability and innovation, increasingly functional to customer needs and integrated within the urban fabric, in service of citizens.