Fiera Milano grows by 23% in the first half and raises estimates for 2025

In the first half of 2025, Fiera Milano reported consolidated revenue of €177.9 million, up 23.2% compared to the same period in 2024, when it reached €144.4 million. Ebitda rose by 15.6% to EUR 63.1 million, while net profit from continuing operations increased by 2.1% to EUR 23.1 million.

This growth helped generate a cash flow of EUR 41.3 million in the first half of the year, bringing net cash and cash equivalents to EUR 119.1 million, up more than EUR 40 million from EUR 77.8 million at the end of 2024. In the wake of these results, the company has revised its guidance for 2025 upwards: expected revenues have been raised to a range of EUR 350-370m (up from the previously predicted EUR 320-340m), while expected EBITDA rises to EUR 115-125m (from EUR 110-120m).

'We are transforming a strategic vision into concrete results,' CEO Francesco Conci said in a statement. 'Cash generation, the contribution of all operational lines, and the results of major trade fair and conference events are the pillars of this positive half-year,' he added.

Italian trade fair activities,' the note continues, 'generated revenues of 137.4 million euro (+18 million over 2024), driven by events such as Tuttofood (95 thousand visitors), The Innovation Alliance (108 thousand attendees) and the Salone del Mobile (over 300 thousand participants). The congress segment grew by 42%, with 37.6 million euros in revenues.

Fiera Milano also finalised two acquisitions: 35% of Emac, organiser of the Milano AutoClassica event; and 51% of Expotrans, a company active in event logistics. The latter operation strengthened 'the vertical integration of the group,' the note reads, expanding the logistics offer. The company was also selected for the temporary infrastructure works of the Milan Ice Park, related to the 2026 Winter Olympic Games, for a total value of EUR 30.7 million.