The Governing Body has approved the 2018-2020 Forecast and Planning Report. The mission of Fondazione in support of the trade-fair and congress industry is confirmed. Its new structural initiatives in synergy with Fiera Milano SpA and the Milan metropolitan area include the Fiera Parking SpA acquisition.
Milan, 1 December 2017 - The Governing Body of Fondazione Fiera Milano, during a meeting conducted by its Chairman Giovanni Gorno Tempini, has approved, pursuant to Art. 11 of its Statute, the 2018-2020 Forecast and Planning Report for Fondazione Fiera Milano, consisting of Business Plan (www.fondazionefieramilano.it/fondazione/profilo), 2018 Budget and 2017 Financial Statements.
More specifically the 2018 – 2020 Business Plan is a revisited version of the mission and lines of strategic actions defined in the previous business plan for 2017-2019, which was approved last year.
Along with the confirmed mission and strategic guidelines, this Plan includes the following updates:
- progress report on the objectives achieved as regards individual activities within the reference background, and more specifically, on the trade fair and congress market;
- action plan by Fondazione Fiera Milano as proactive Shareholder and long-term Investor.
The guidelines implemented in 2017 have made it possible, among other things, to achieve the following objectives:
- improvement of the corporate system (new rules and procedures, new sponsoring and donation policy, strengthening of competences);
- a sustainable financial strategy aimed at acquiring new resources;
- a new governance for Fiera Milano SpA;
- upgrading of exhibition facilities;
- relaunching our “core” buildings;
- starting the photovoltaic project for fieramilano;
- adjusting the trade fair system in terms of mobility and parking facilities.
More specifically, having regard to the latter objective, Fondazione Fiera Milano has acquired from Sias Parking a 99% shareholding in Fiera Parking SpA, amounting to a value of 32 million euro. Fiera Parking is the company which manages the parking facilities in fieramilano, at Rho, pursuant to an agreement which was signed in 2003 with Fondazione Fiera Milano itself.
This acquisition fully implements one of the guidelines in the Business Plan for Fondazione Fiera Milano, allowing for an improvement of its financial management which proved too onerous under the previous agreement with Sias Parking; most importantly it provides a concrete prospect for developing parking facilities in view of the imminent restructuring of the Arexpo site and of adjacent areas.