13.5
million €operating
profit
Generate value for the country
In 2023, despite a scenario still characterized by economic uncertainties and geopolitical turmoil, Fondazione Fiera Milano continued with commitment all its activities, enhancing the value of its assets and capital and consolidating important financial and governance results. Assets continued to grow with an increase of 89 million over the five-year period, enabling it to strengthen investments and plan new ones for the near future.
Fondazione confirms its ability to create a system between different players, public and private, its role in fostering the conditions for the competitiveness of Fiera Milano being one of the local investors, through projects for the regeneration and enhancement of the urban context, as well as an entity always ready to support projects in favor of the community - those initiatives have a strong social impact and are major cultural and educational values.
753.3
milion €shareholders'
equity
58.2
millionin Sales
revenue
New investments
The largest share of the investments in the Three-Year Plan, estimated at more than 350million euros from 2023 to 2028, is dedicated to interventions on Fondazione's real estate assets.
These include the project for the Portello, which includes the transformation of some of the pavilions into congress spaces, increasing the total capacity to 30 thousand participants, the construction of the hotel with more than 170 rooms, and the construction of a white box in which Rai will build, through its own fit-out works, its new offices and its new multimedia production center, with 8 recording rooms in the area now occupied by MiCo Nord.
Another major portion of the investments was put in place to support the 2026 Olympic and Paralympic Winter Games - with the adaptation of the fieramilano pavilions that will host the speed skating rink and field hockey rink and for the media center in the Allianz MiCo spaces - and to support the development of the entertainment business that Fiera Milano recently presented in its Strategic Plan.
Reporting template
Inspired by the virtuous models of reporting and transparency adopted by listed companies, Fondazione Fiera Milano's Annual Report 2023 integrates for the second year economic reporting with sustainability reporting in a single document, in line with the European Union's new Corporate Sustainability Reporting Directive (CSRD), which will be in force from 2025 to spread the culture of transparency and legality as much as possible.
The goal is to provide its stakeholders not only with information useful for understanding the key characteristics of the organization-systems of corporate governance, business ethics, economic performance-but also with information about the most significant impacts resulting from the management of its economic activities.