Rimini Fair and Vicenza Fair complete merger to become top trade show player in Italy
RIMINI, October 28, 2016 – Leading Italian Trade Show Organizer Rimini Fiera Spa and Fiera di Vicenza Spa announced the successful completion of their merger agreement, becoming the first example of this type of operation in Italy.
The integration founds a new company called Italian Exhibition Group Spa (IEG), creating a new trade fair industry group solidly positioned on the national and international market.
Italian Exhibition Group Spa becomes the top entity in Italy in terms of the number of directly organized shows with 61 products in its portfolio (90% own property) and 160 other events and congresses.
It will be Italy’s leading trade show player in the promotion and internationalization of some of the most important Made in Italy production chains, such as: Food & Beverage, Green, Technology, Entertainment, Tourism, Transport, Wellness, Jewellery e Fashion, and Lifestyle & Innovation.
For 2016, Italian Exhibition Group Spa, with its 270 professional employees, expects to achieve significant joint economic results: a turnover of about Euro 119 million, the second Italian player in terms of overall volume; EBITDA1 at 19%, equal to Euro 22.1 million, a first place position in terms of profitability; EBIT at 11%, equal to Euro 13.6 million; net assets of over Euro 100 million.
One of the Company’s aims is to be listed in the Stock Exchange and to act as the unifying element for other trade show organizations.
Other priority assets will include internationalization, by attracting foreign buyers and exhibitors to Italy and developing strategic foreign market activities (the Group is already active in the United Arab Emirates, USA, China, India and South America), and consolidating its leadership in the convention and congress segment, where Italian Exhibition Group Spa is Italy’s number one player.
The Rimini Fiera and Fiera di Vicenza names will remain as indications of their operational premises and respective trade show areas, which will be enhanced through a development plan and investments that will also regard the product portfolio with increased focus on external lines.
Italian Exhibition Group Spa’s shareholdings are directly and indirectly made up of: Rimini Congressi srl (which includes Rimini Council through Rimini Holding, the Rimini and Rimini Province Chamber of Commerce), the Emilia Romagna Region, GL Events, King Spa, Salini Impregilo, Fiera Invest Spa; Vicenza Council, the Vicenza Chamber of Commerce, Vicenza Province through Vicenza Holding and other private shareholders.
The Board of Directors is made up of: Lorenzo Cagnoni (President and Chief Executive Officer), Matteo Marzotto (Vice President), Barbara Bonfiglioli, Daniela Della Rosa, Maurizio Renzo Ermeti, Lucio Gobbi, Catia Guerrini, Simona Sandrini, Luigi Dalla Via.
The Managing Director is Corrado Facco and the Vice Managing Director is Carlo Costa.