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Day 1 of BolognaFiere’s listing on the Professional Segment of Euronext Growth Milan ("EGM-Pro"), a multilateral trading platform organised and managed by Borsa Italiana S.p.A.
At the Listing Ceremony this morning at @Palazzo Mezzanotte, Chairman Gianpiero Calzolari declared, with evident pride: "The last few years have seen us transition from an organisational body to an enterprise proper, today achieving an ambitious and fundamental goal that will, we are sure, boost our competitiveness on the international scene and enable us to pursue our business strategy.
Being listed on the capital market marks the conclusion of a challenging process, but also the start of a new growth phase for the Group that will see us fully committed to actively engage in transparent relations with the financial community to demonstrate the values, ideas and vision of BolognaFiere and all its components.
2022 and 2023 were years in which we took important steps forward after the pandemic, a period that certainly put us to the test but also heightened an awareness of our potential and the role we play.
We owe today’s result first and foremost to our current public and private shareholders who believed and invested in a business plan geared to expanding and modernising the Bologna exhibition centre, broadening our exhibition portfolio, and developing our international reach by “geo-cloning” our major events around the world.
I want to thank the Mayor of Bologna for his presence here today. It acknowledges the extent to which BolognaFiere is a strategic asset for our city, a responsibility we proudly accept.
BF is today one of the world’s major international exhibition operators and Italy’s top company for the number of events organised and revenue share generated abroad. Our Group is unique in Italy for its ability to service the full event-organisation value chain, from venue management through to the design and execution of top-quality booth fit-out and architecture by our Henoto brand. We have subsidiaries in more than 10 countries and 3 continents: Europe, Asia, America, and organise over 100 exhibitions and events worldwide. We are a world leader in the cosmetics sector with the Cosmoprof brand, and the organisers of the world’s leading international children's book fair, Bologna Children’s Book Fair. In Italy, we are present in 4 exhibition and conference centres.
In 2022, the Group posted consolidated revenues of EUR 209 million, an increase of 20% on 2019 (pre-pandemic), with an EBITDA margin of 14%.
Our decision to enter the capital market has met with widespread approval - the issue being fully underwritten even before the bell. Equally appreciated was the EUR 15 million capital increase, with the conversion into shares of the EUR 25 million bond posted by Informa Plc, the world's leading exhibition organiser, a welcome confirmation of the solidity of our project.
With its centuries-old history as a dynamic, forward-thinking, independent cultural centre, a thousand-year-old university attracting young people from all over the world, an industrial system that takes people and their community into account, and a geographical location at the crossroads of Italian and European communication routes, Bologna is a unique city where tradition and the future coexist in perfect harmony. Indeed, next door to our exhibition halls is the new Technopole and the European Weather Centre. Together we will help to change the face of this area of the city.
Bologna is a small innovative metropolis with one of the world’s best-preserved medieval centres. Alongside its 42 km of porticoes, recently designated a Unesco World Heritage Site, the city boasts museums, theatres, cinemas, more than 200 libraries, clubs and restaurants, a lively social and night life, renowned cuisine, and a spirit of hospitality and conviviality that visitors remember with affection – all features that give our city a competitive edge and will continue to attract exhibition organisers, who also know they can rely on our efficient, professional event management.
I would like to thank all the Advisors, first and foremost BPER Banca S.p.A. (Euronext Growth Advisor and Global Coordinator), ADVANT Nctm Studio Legale (the Issuer’s Legal and Tax Advisor), BonelliErede (Legal Advisor to the Euronext Growth Advisor and Global Coordinator), EY (Auditors), PWC (financial due diligence Consultants for CCN and SCG), IRTOP Consulting S.r.l. (Investor & Media Relations Advisor) and all those at BolognaFiere who gave us their support during this long and complex journey. The result will be a Group of international standing with a greater awareness of its solid values and fired with the drive to take on this new experience and its growth opportunities".