Fondazione Fiera Milano approves annual report: Growing turnover, profits and assets

58.2 million in sales revenue, 13.5 million in profits and over 753.3 million in shareholders' equity - an increase of 89 million over the last five years.

Over 300 million euros consolidated production value, over 56 million euros consolidated profits and 172 million euros increase in equity over the last five years. 

A commitment to foster Fiera Milano's competitiveness with a particular focus on ESG issues.

The General Council of Fondazione Fiera Milano, meeting under the chairmanship of Chairman Enrico Pazzali, has approved the Financial Statements for the year ended 31 December 2023, which show Sales Revenues of 58.2 million Eur (+7.1% compared to 2022) profit of 13.5 million Eur (+38.7%) and a growth in Shareholders' Equity of 753.3 million Eur (+1.7%), with a compound annual growth rate (CAGR) of + 2.6% over the last five years, which translates into an increase of 89 million Eur over the five-year period.

Results also increased at the consolidated group level: production value as at 31 December was 311 million Eur (+23.6%), Net Profit was 56.6 million Eur (+562%), while sales revenue rose to  296.4 million Eur (+28%).
The community of intent and the respective financial results of Fondazione Fiera and Fiera Milano also made it possible to achieve - for the first time in history - a consolidated Net Financial Position basically close to zero.

"We are also closing 2023 on a positive note," said Enrico Pazzali, President of Fondazione Fiera Milano. "The results confirm that we are doing our homework. Over the last five years, Fondazione Fiera Milano's assets have continued to grow, allowing us to strengthen investments and plan new ones for the near future. One among all, the large photovoltaic plant that covers the roofs of fieramilano and that confirms our attention, practised and not only declared, in the field of ESG. A dimension of overall concreteness, therefore, which we seek every day with the contribution of our entire team, starting with the Executive Committee and also all the other bodies, to which I extend my heartfelt thanks. Far be it from us to stop here, we are already at work on new projects of our absolute interest and also for our community: this is the mission we have given ourselves'. 

In 2023, despite a scenario characterised by economic uncertainties and geopolitical turbulence, Fondazione Fiera Milano continued with strong commitment to its activities, enhancing the value of its assets and its capital and improving important financial and governance results. Fondazione once again confirmed its ability to create a system made up of different players, both public and private, its role in fostering the conditions for the competitiveness of Fiera Milano and as an investor in the local communities, through projects for the regeneration and enhancement of the urban context, as well as an entity always ready to support projects in favour of the community, initiatives with a strong social impact and cultural and educational activities.

The investments of the Three-Year Plan, estimated at more than 350 million Eur from 2023 to 2028, point in this direction. 
The largest share is dedicated to work on the Fondazione's real estate assets, including the Portello project, which includes the transformation of some halls into congress spaces, increasing the total capacity to 30,000 participants, the building of a hotel with more than 170 rooms, and the building of a white box in which Rai will set up its new offices and its new multimedia production centre, with 8 recording rooms in the area currently occupied by MiCo Nord. A project strongly desired by the Fondazione, whose framework agreement was signed on 4 December 2023, which confirms a prospect of historical, professional and also cultural continuity in the spaces of the Fiera, which will thus host one of the country's largest cultural facilities.

Another important share of the investments has been put in place in support of the 2026 Olympic and Paralympic Winter Games - with the adaptation of the fieramilano halls that will host the speed skating rink and hockey rink, and for the media centre in the Allianz MiCo spaces - and to support the development of the entertainment business that Fiera Milano recently presented in its Strategic Plan.