(Alliance News) - On Wednesday, the board of directors of Fiera Milano approved the draft financial statements for the 2023 fiscal year, which closed with a net isult result of EUR45.5 million, marking a sharp turnaround from the minus EUR5.8 million recorded in 2022.

The board proposed the staco of a dividend of EUR0.14 per share. This had been missing since 2020 and was EUR0.13 per share.

Consolidated revenues in 2023 stood at EUR283.8 million, putting it 29 percent higher than the previous year and surpassing the revenues reported in 2019, confirming how Fiera Milano exceeded pre-pandemic levels ahead of Italian market expectations.

During the year, 73 exhibitions were held - 44 in Italy and 29 abroad, 43 directly organized and 30 hosted - 132 conference events for a total of 1.88 million total square meters occupied.

In 2023, consolidated Ebitda stood at EUR97.1 million, an improvement of EUR38.7 million over 2022.

Ebit for the year is EUR44.8 million compared to EUR9.2 million in 2022. The increase amounts to EUR35.6 million and mainly reflects the trend in Ebitda partially offset by higher depreciation on the right to use leased assets resulting from currency revaluation.

Net financial debt amounted to EUR80.9 million, a significant increase - amounting to EUR51 million - compared to EUR29.8 million as of December 31

December 2022, "exceeding both previous guidance and analysts' consensus estimates by approximately EUR20 million," the company writes in the released note.

Fiera Milano on Tuesday advanced 5.6 percent to EUR3.30 per share.

By Maurizio Carta, Alliance News reporter

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