Veronafiere Group: upward review for 2022
Turnover and margins substantially at pre-pandemic levels. The latest meeting of the Board of Directors updated the budget forecasts for the second quarter of the year which estimate results in 2022 for Veronafiere Group above expectations. The recovery of full capacity in the second quarter and forecasts for the autumn indicate a consolidated turnover target for the Veronafiere Group of €101 million (105.5 million in 2019), up by 5.2 million compared to forecasts. The result of the overall trend will help offset higher costs arising from inflation, bringing about an increase in operating and structural costs of approximately €2.9 million, and increase the Group’s EBITDA from 12.6% to 14.1%.
There is also a positive trend in forecasts of parent company Veronafiere S.p.A., expected to close the year with turnover of €79.7 million, 2.2 million higher than the initial budget, as well as a significant improvement in Ebitda from €8.4 million (10.9%) expected to €10.2 million, despite the increase in costs due to the repositioning of certain exhibitions scheduled in January-February, two months that were still affected by the pandemic.
“The results confirm Veronafiere’s resilience and ability to plan its own restart, suggesting that 2022 will achieve turnover almost at pre-pandemic levels, even with the current inflationary and international tensions,” said Federico Bricolo, President of Veronafiere. A planning capacity that has also extended into the development the parent company’s first Sustainability Report that we will present in September. Social, economic and environmental sustainability are preliminary conditions today for access and growth on the markets, while and this new initiative will make us one of the first international trade fair operators to communicate these values correctly.”
“We have resumed generating business for our customers and wealth for our local area. This is an important result which rewards the efforts of everyone, even employees on the front line responding to the severe crisis caused by the pandemic,” said Managing Director, Maurizio Danese. If there are no other unforeseen events arising from outside causes during the year, we should close with turnover levels similar to those posted in 2019. We are also ready to intercept the resumption of activities on the international markets where we operate with subsidiary companies, first and foremost Veronafiere Asia and Veronafiere do Brasil.”