Olympics boost Fiera Milano's first quarter results
The company closed the first three months of 2026 with revenues doubled to EUR 126.4 million, up 98.4% compared to the same period in 2025
by R.I.T.
Fiera Milano closed Q1 2026 with consolidated revenues of EUR 126.4 million, up 98.4% from EUR 63.7 million in the same period of 2025. Ebitda also recorded a record jump, marking a +315.8% increase to EUR 50.1 million, while net profit returned to positive at EUR 27.7 million, compared to the loss of EUR 3.2 million recorded a year earlier. In fact, the share price recorded significant increases during the day, even touching +11.5%.
Driving the accounts were above all the activities related to the Milan Cortina 2026 Winter Olympics, including the use of venues, temporary infrastructure in the Rho exhibition centre and the use of Allianz MiCo as the Main Media Centre.
A contribution that CEO Francesco Conci calls 'higher than expected' in a note issued by the company, which also announces the upward revision of the 2026 guidance. For the full year, the company now expects revenues between 380 and 400 million euro (from the previous range of 305-325 million) and EBITDA between 100 and 110 million (from the previous 90-100 million).
If the first-quarter results benefit from the Olympic effect, the impact of the 'progressive evolution of our operating model' is also significant, Conci points out, justifying the increase in targets. As far as the geopolitical context is concerned, the company speaks of possible 'negative impacts of an indirect nature on the business', particularly with regard to energy costs, inflationary pressures, and international mobility flows. However, for the moment, these factors appear to be contained and not significant enough to affect development forecasts. The company also announces that the new Strategic Plan will be presented in the first quarter of 2027.
Going back to the details of Q1 2026, Fiera Milano managed or hosted 20 exhibitions and 13 congress events, for a total of over 369 thousand square metres occupied. Revenues from Italian exhibition activities rose to 98.2 million from 52.8 million in the first quarter of 2025, thanks also to the presence of the biennial Mostra Convegno Expocomfort, as well as the Olympics. The congress sector recorded revenues of EUR 18.9 million, almost doubled from EUR 10.5 million in Q1 2025, thanks to the use of Allianz MiCo for Olympic broadcasting activities.
