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olivLaw · European equity research

Italian Exhibition Group S.p.A. IEG.MI

Italy · Euronext Milan · ISIN IT0003411417 · Vertical: Listed companies from Italy

14.25EUR−1.04% · 1 dayClose 05 Nov 2026

Italian Exhibition Group organises trade fair and congress events globally, with activity concentrated mainly in Italy. The group has been listed on Euronext Milan since 2019 and is updating its ESG strategy and Strategic Plan 2025-2030, which makes it relevant to examine how it manages impacts, risks and opportunities over 2025-2030.

At the close of 05 Nov 2026, Italian Exhibition Group S.p.A. (IEG.MI) stock was 14.25 EUR (−1.04% on the day), with market capitalisation 43.5 k EUR, P/E 13.6 on diluted EPS of 1.05 EUR over the last 12 months, dividend yield 9,819.05%, beta 0.37, 52-week range 7.90–17.75 EUR.

Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.

Market cap
43.5 k EUR
shares as of 31 Dec 2024
P/E (TTM)
13.6
Diluted EPS TTM 1.05 · TTM to 31 Dec 2024
E/P (TTM)
7.35%
TTM to 31 Dec 2024
Dividend yield
9,819.05%
DPS 12m 1,399.21
Beta (2y)
0.37
Volatility (1y) 41%
52-week range
7.9017.75

Price history

Loading chart…

Technical reading

RSI (14)
47.2
neutral
Bollinger (20, 2)
13.57 – 14.53
in the upper half of the band · %B 0.71 · band width 6.8%
SMA 50 / 200
15.17 / 13.52
mixed trend
MACD (12, 26, 9)
-0.26 / -0.38
MACD above signal

Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).

Performance

CompanyEURO STOXX 50vs EURO STOXX 50Vertical median
1 month−8.7%−0.6%−8.0 pp—
3 months−19.7%−4.2%−15.6 pp—
6 months+10.5%+4.3%+6.1 pp—
Year to date+62.3%+7.5%+54.8 pp—
1 year+75.5%+9.9%+65.6 pp−6.1%
3 years+405.3%+49.8%+355.5 pp+7.7%
5 years+381.4%+42.8%+338.6 pp—
Max drawdown (1y)
−24.2%
31 Jul 2026 → 22 Oct 2026
Max drawdown (5y)
−40.1%
09 Nov 2021 → 26 Jul 2022
Compound annual growth (5y)
+36.9%
EURO STOXX 50 +7.4%

Price returns, dividends excluded.

Quarterly results

ESEF annual reports carry no quarters: the results are annual (below).

E/P over time

E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.

Today's P/E sits at the 100 percentile of its own 2-quarter history (min 6.2, median 6.8, max 7.5; quarters with earnings only).

Fiscal years

Fiscal year20232024
Revenue212.4 m250.0 m
Revenue YoYunavailable+17.7%
Net income12.7 m32.0 m
Net income YoYunavailable+152.2%
Diluted EPS0.411.05
Diluted EPS YoYunavailable+153.3%
net %6.0%12.8%
Free cash flow39.1 m29.3 m

Balance sheet & financial health

Fiscal year 2024 · 31 Dec 2024

Cash
61.6 m EUR
Financial debt
unavailable EUR
Net debt
unavailable EUR
Equity
138.8 m EUR
Total assets
396.5 m EUR
Debt / equity
unavailable
Current ratio
0.74x
ROE
26.0%
ROA
8.4%
FCF margin
11.7%

Financial statements (source on every figure)

Revenue and net income (EUR)

Margins

Income statement · EUR

Revenue
2023
212.4 m
2024
250.0 m

esef· 15 Apr 2025verified

Operating income
2023
25.6 m
2024
46.8 m

esef· 15 Apr 2025verified

Depreciation & amortisation
2023
23.7 m
2024
17.7 m

esef· 15 Apr 2025verified

EBITDA
2023
49.3 m ≈
2024
64.5 m ≈

esef· 15 Apr 2025derived

Interest expense
2023
6.8 m
2024
7.3 m

esef· 15 Apr 2025verified

Pre-tax income
2023
20.6 m
2024
40.7 m

esef· 15 Apr 2025verified

Income tax
2023
-7.4 m
2024
-8.2 m

esef· 15 Apr 2025verified

Net income
2023
12.7 m
2024
32.0 m

esef· 15 Apr 2025verified

Diluted EPS
2023
0.41
2024
1.05

esef· 15 Apr 2025verified

Dividend per share
2023
0.00
2024
1,399.21

esef· 15 Apr 2025derived

Balance sheet · EUR

Cash
2023
65.9 m
2024
61.6 m

esef· 15 Apr 2025verified

Receivables
2023
31.0 m
2024
36.8 m

esef· 15 Apr 2025verified

Inventories
2023
846.0 k
2024
915.0 k

esef· 15 Apr 2025verified

Current assets
2023
107.0 m
2024
111.0 m

esef· 15 Apr 2025verified

Property, plant & equipment, net
2023
196.6 m
2024
214.2 m

esef· 15 Apr 2025verified

Intangibles (excl. goodwill)
2023
43.0 m
2024
48.4 m

esef· 15 Apr 2025verified

Total assets
2023
367.0 m
2024
396.5 m

esef· 15 Apr 2025verified

Accounts payable
2023
43.3 m
2024
52.6 m

esef· 15 Apr 2025verified

Current liabilities
2023
133.7 m
2024
150.6 m

esef· 15 Apr 2025verified

Equity
2023
106.9 m
2024
138.8 m

esef· 15 Apr 2025verified

Shares outstanding at year end
2023
30.7 m
2024
3.1 k

esef· 15 Apr 2025derived

Cash flow · EUR

Operating cash flow
2023
48.6 m
2024
51.9 m

esef· 15 Apr 2025verified

Capex
2023
9.5 m
2024
22.6 m

esef· 15 Apr 2025verified

Free cash flow
2023
39.1 m ≈
2024
29.3 m ≈

esef· 15 Apr 2025derived

Investing cash flow
2023
-14.2 m
2024
-27.9 m

esef· 15 Apr 2025verified

Financing cash flow
2023
-19.1 m
2024
-28.3 m

esef· 15 Apr 2025verified

Dividends paid
2023
0
2024
4.3 m

esef· 15 Apr 2025verified

Share repurchases
2023
446.0 k
2024
424.0 k

esef· 15 Apr 2025verified

Computed indicators

Growth

Revenue growth (YoY)
17.7%
computed by olivLawFY 2024
Revenue CAGR 3Y
unavailable
input data missing
Revenue CAGR 5Y
unavailable
input data missing
EBIT growth (YoY)
83.1%
computed by olivLawFY 2024
Net income growth (YoY)
152.2%
computed by olivLawFY 2024
Net income CAGR 3Y
unavailable
input data missing
Net income CAGR 5Y
unavailable
input data missing
EPS growth (YoY)
153.3%
computed by olivLawFY 2024
EPS CAGR 3Y
unavailable
input data missing
EPS CAGR 5Y
unavailable
input data missing
FCF growth (YoY)
-25.2%
computed by olivLawFY 2024

Profitability

Gross margin
unavailable
input data missing
EBITDA margin
25.8%
computed by olivLawFY 2024
EBIT margin
18.7%
computed by olivLawFY 2024
Net margin
12.8%
computed by olivLawFY 2024
FCF margin
11.7%
computed by olivLawFY 2024

Returns

ROE
26.3%
computed by olivLawFY 2024 · balance sheet at 31 Dec 2024
ROA
8.4%
computed by olivLawFY 2024 · balance sheet at 31 Dec 2024
ROIC
unavailable
input data missing
ROCE
19.0%
computed by olivLawFY 2024 · balance sheet at 31 Dec 2024
Payout ratio (EPS)
133,665.9%
computed by olivLawFY 2024
Payout ratio (FCF)
14.6%
computed by olivLawFY 2024

Balance sheet

Net debt
unavailable
input data missing
Net debt / EBITDA
unavailable
input data missing
Debt / equity
unavailable
input data missing
Interest coverage
6.4x
computed by olivLawFY 2024

Liquidity

Current ratio
0.7x
computed by olivLawbalance sheet at 31 Dec 2024
Quick ratio
0.7x
computed by olivLawbalance sheet at 31 Dec 2024
Cash ratio
0.4x
computed by olivLawbalance sheet at 31 Dec 2024

Cash

Operating cash flow
51.9 m EUR
computed by olivLawFY 2024
Capital expenditure
22.6 m EUR
computed by olivLawFY 2024
Free cash flow
29.3 m EUR
computed by olivLawFY 2024
FCF conversion
91.5%
computed by olivLawFY 2024
Cash conversion
80.5%
computed by olivLawFY 2024

Efficiency

Days sales outstanding
50 days
computed by olivLawFY 2024 · balance sheet at 31 Dec 2024
Days inventory outstanding
unavailable
input data missing
Days payables outstanding
unavailable
input data missing
Cash conversion cycle
unavailable
input data missing

Market and valuation

Market capitalisation
43.5 k EUR
computed by olivLawbalance sheet at 31 Dec 2024
Enterprise value
unavailable
input data missing
Market cap / net income TTM
0.0x
computed by olivLawFY 2024
P/E (TTM)
13.6x
computed by olivLawFY 2024
Earnings yield
7.3%
computed by olivLawFY 2024
P/B
0.0x
computed by olivLawbalance sheet at 31 Dec 2024
P/S
0.0x
computed by olivLawFY 2024 · balance sheet at 31 Dec 2024
EV/EBITDA
unavailable
input data missing
EV/EBIT
unavailable
input data missing
EV/Sales
unavailable
input data missing
P/FCF
0.0x
computed by olivLawFY 2024 · balance sheet at 31 Dec 2024
FCF yield
67,192.5%
computed by olivLawFY 2024 · balance sheet at 31 Dec 2024
Dividend yield
9,819.1%
computed by olivLawFY 2024
Shareholder yield (distributions)
10,792.7%
computed by olivLawFY 2024 · balance sheet at 31 Dec 2024

1 indicators that do not apply to the sector.

Valuation

olivLaw classification

Insufficient data
What is missing
  • score weight coverage: 52.1% of at least 60%

A scoring methodology on indicators and valuation, not investment advice.

Closing price

14.25 EUR

05 Nov 2026Source: olivLaw, closing series

Market cap: 43.5 k EUR

Key indicators

Market capitalisation
43.5 k EUR
computed by olivLawbalance sheet at 31 Dec 2024
P/E (TTM)
13.6x
computed by olivLawFY 2024
P/B
0.0x
computed by olivLawbalance sheet at 31 Dec 2024
EV/EBITDA
unavailable
input data missing
ROE
26.3%
computed by olivLawFY 2024 · balance sheet at 31 Dec 2024
Net margin
12.8%
computed by olivLawFY 2024
Revenue growth (YoY)
17.7%
computed by olivLawFY 2024
Dividend yield
9,819.1%
computed by olivLawFY 2024

Coverage and freshness

28/37 reporting lines present
Latest full fiscal year: 2024
Latest reported period: 31 Dec 2024
Latest balance sheet date: 31 Dec 2024
Share count (cover of the latest filing), as of: 31 Dec 2024
Source: esefpublished 15 Apr 2025
verified 53derived 4

The data is older than the freshness threshold.

Score by group

52% · Insufficient data

Estimated value range

Low
9,517.95
EUR per share
Mid
10,985.39
EUR per share
High
12,986.50
EUR per share
Price: 14.25 EUR
The price is below the range
Potential to the central value: 76,990.5% (value / price − 1)
Margin of safety: 99.9% (1 − price / value)
Agreement between methods: low · 2 methods used · 2 independent bases

The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 6.58 – 25,949.07 EUR.

Valuation assumptions are editorial choices, not measured; beta is not measured.

Method ranges (EUR per share)

— — Mid · ▏ Price

Valuation methods

  • DCF (discounted cash flow)unavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
  • Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
  • Peers: P/E6.58 – 23.92 (Mid 13.88)
    20 companies used · median multiple 13.3x · quartiles 6.3x – 22.9x
    AC5.MI, ACE.MI, ADB.MI, AEF.MI, AMP.MI, ARN.MI, ASC.MI, BC.MI, BEC.MI, CAI.MI, CIR.MI, CLF.MI, CMB.MI, COM.MI, CRL.MI, CY4.MI, DEX.MI, DIA.MI, DLG.MI, DNR.MI
  • Dividend discount (DDM)19,029.32 – 25,949.07 (Mid 21,956.91)

Assumptions (illustrative, editorial)

Risk-free rate
3.0%
Equity risk premium
5.5%
Beta (default)
1.00
Cost of equity
8.5%
Terminal growth
2.0%

Factor scorecard

Insufficient data

Minimum-evidence gate: score weight coverage: 52.1% of at least 60%

FactorValueScoreWeight used
ROIC · Qualityunavailableunavailable—
Net margin · Quality12.8%72 (vs peers)12%
FCF conversion · Quality91.5%88 (on a fixed band)12%
Revenue CAGR 3Y · Growthunavailableunavailable—
EPS CAGR 3Y · Growthunavailableunavailable—
Net debt / EBITDA · Balance sheetunavailableunavailable—
Interest coverage · Balance sheet6.4x76 (on a fixed band)12%
Current ratio · Balance sheet0.7x0 (on a fixed band)8%
P/E (TTM) · Valuation13.6x50 (vs peers)20%
EV/EBITDA · Valuationunavailableunavailable—
FCF yield · Valuation67,192.5%100 (on a fixed band)16%
Shareholder yield (distributions) · Returns10,792.7%100 (on a fixed band)12%
Payout ratio (FCF) · Returns14.6%100 (on a fixed band)8%

Factors without a value were dropped; the remaining weights were renormalised.

Score groups

  • Balance sheet46/100 · 2/3 factors with a value
  • Growth· partialunavailable · 0/2 factors with a value
  • Quality80/100 · 2/3 factors with a value
  • Returns100/100 · 2/2 factors with a value
  • Valuation72/100 · 2/3 factors with a value

A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.

Memo

ITALIAN EXHIBITION GROUP S.P.A. (IEG.MI). Latest full fiscal year: 2024; data up to 2024-12-31.

Figures computed from the financial statements: revenue 250.0 m EUR in 2024; YoY growth 17.7%; net margin 12.8%; ROE 26.3%.

The estimated value range is 9,517.95–12,986.50 EUR per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 10,985.39 EUR, the price of 14.25 EUR leaves a potential of 76,990.5% (value / price − 1) and a margin of safety of 99.9% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.

Insufficient data for a verdict (score weight coverage: 52.1% of at least 60%).

Text generated deterministically from the figures shown; no language model. Not investment advice.

What supports the thesis

  • Net margin: 12.8%
  • FCF conversion: 91.5%
  • Interest coverage: 6.4x
  • FCF yield: 67,192.5%
  • Shareholder yield (distributions): 10,792.7%
  • Payout ratio (FCF): 14.6%
  • The price is below the estimated value range

What contradicts it

  • Current ratio: 0.7x
  • The valuation methods diverge

Not assessed (insufficient data or a ratio without meaning): ROIC, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, EV/EBITDA.

Versus the vertical median

Listed companies from Italy · same country · compared with 39 companies

Multiples and returns vs the median

P/E
13.6x
vertical median 15.7x
below median (−13.5%)
EV/EBITDA
—
vertical median 8.1x
P/S
0.0x
vertical median 1.1x
below median (−100.0%)
P/B
0.0x
vertical median 1.1x
below median (−100.0%)
ROE
26.3%
vertical median 8.5%
above median (+209.4%)
Net margin
12.8%
vertical median 6.2%
above median (+105.9%)
EBIT margin
18.7%
vertical median 9.5%
above median (+97.5%)
Revenue YoY
17.7%
vertical median 0.4%
above median (+4,050.4%)
Net debt/EBITDA
—
vertical median 0.5x
Dividend yield
9,819.1%
vertical median 3.7%
above median (+267,469.1%)

Price rebased to 100 (monthly, 5 years)

Companies in the vertical

Market capP/EROENet marginRevenue YoY1A / 3A
DLG.MIDe' Longhi S.p.a.6.8 bn21.515.4%8.4%+8.7%+24% / +60%
ACE.MIAcea S.p.a.4.6 bn9.618.2%16.6%+0.2%−4% / +73%
DIA.MIDiasorin S.p.a.4.3 bn28.39.2%13.0%+0.8%+31% / −7%
CRL.MICarel Industries S.p.a.2.9 bn39.516.1%11.7%+8.7%+3% / +10%
AMP.MIAmplifon S.p.a.2.7 bn29.98.5%3.8%−0.6%−9% / −58%
CMB.MICembre S.p.a.1.3 bn27.020.6%18.9%+6.7%+11% / +108%
COM.MIComer Industries S.p.a.1.3 bn18.612.8%7.1%−23.0%+8% / +64%
DNR.MIIndustrie De Nora S.p.a.1.1 bn13.48.6%9.4%+1.4%−22% / −62%
ARN.MIAlerion Clean Power S.p.a. In Forma Abbreviata Alerion S.p.a.969.2 m10.423.5%41.0%+1.8%−5% / −23%
AVIO.MIAvio S.p.a.883.6 m86.82.1%1.8%+21.5%+18% / +291%
CIR.MICir S.p.a. - Compagnie Industriali Riunite783.3 m6.017.1%7.3%+1.6%+4% / +72%
ASC.MIAscopiave S.p.a.646.3 m18.04.2%17.5%+13.4%−8% / +33%
AC5.MIAcinque S.p.a.412.6 m19.64.1%3.6%+0.2%−6% / +8%
BAN.MIBasic Net S.p.a.348.0 m—-4.9%-3.5%+0.4%−30% / +5%
ADB.MIAeroporto Guglielmo Marconi Di Bologna S.p.a.324.7 m13.111.1%13.7%+9.2%−2% / +12%
CAI.MICairo Communication S.p.a.289.2 m6.48.1%4.4%−1.3%−22% / +28%
ECNL.MIAquafil S.p.a.129.6 m—-3.2%-0.9%−3.9%−1% / −52%
BEC.MIB&C Speakers S.p.a.118.7 m11.718.5%10.2%−1.3%−26% / −32%
ABT.MIAbitare In S.p.a.76.0 m276.00.4%0.4%+39.8%−6% / −47%
ELC.MIElica S.p.a.64.3 m—-7.8%-2.2%+1.9%−34% / −48%
DEX.MIDexelance S.p.a.50.7 m2.811.0%5.4%+12.6%−63% / −78%
CLE.MIClass Editori S.p.a.35.1 m—-29.2%-3.8%−0.7%−9% / +106%
CLF.MICaleffi - S.p.a.11.6 m5.210.9%3.8%−2.5%−4% / −10%
AEF.MIAeffe S.p.a.10.1 m0.521.9%7.7%−21.3%−59% / −86%
BC.MIBrunello Cucinelli S.p.a.6.2 m0.026.5%75,526.1%0.0%−5% / +15%

1- and 3-year price returns: for IEG.MI from daily closes (the same as the performance table), for the other companies from month-end closes.

olivLaw engine forecast

The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.

The engine has no published run for this company yet.

Valuation scenarios (editable assumptions)

Illustrative scenarios

Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.

Bear
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Base
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Bull
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Nothing is saved.

Estimated price (EUR)

Estimated priceBearBaseBull
1 years
93,109.47
Total return 717,298% · Per year 717,298%
163,858.57
Total return 1,234,255% · Per year 1,234,255%
245,787.85
Total return 1,826,091% · Per year 1,826,091%
3 years
110,442.57
Total return 984,546% · Per year 2,043%
216,702.95
Total return 1,813,945% · Per year 2,528%
353,934.50
Total return 2,852,616% · Per year 2,956%
5 years
131,002.36
Total return 1,301,545% · Per year 565%
286,589.66
Total return 2,580,585% · Per year 663%
509,665.69
Total return 4,330,813% · Per year 746%
What moves the 3-year price the most
  • Exit P/E± 54,175.74
  • Net margin± 37,923.02
  • Annual revenue growth± 28,283.41
  • Annual dilution± 3,186.60

AI analysis

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

In brief

Italian Exhibition Group organises trade fair and congress events globally, with activity concentrated mainly in Italy. The group has been listed on Euronext Milan since 2019 and is updating its ESG strategy and Strategic Plan 2025-2030, which makes it relevant to examine how it manages impacts, risks and opportunities over 2025-2030 1.

SWOT

Strengths

  • The group has a multi-line business structure and a strong presence in Italy, where its main activity is concentrated 1.
  • Management experience in the trade fair sector and participation in international industry bodies support relationships with the industry 1.
  • Its own exhibition venues give control over the spaces where events take place 1.

Weaknesses

  • Dependence on key staff and exhibition directors could affect project continuity if they leave 1.
  • The concentration of activity in Italy creates high geographic exposure 1.
  • The source indicates that some ESG policies are not clearly linked to the declared objectives 1.

Opportunities

  • The Strategic Plan 2025-2030 and the ESG update could open new growth and efficiency directions 1.
  • Integrating IT infrastructure through the Unity project could reduce operational complexity 1.
  • Extending the ESG incentive system to top management could strengthen accountability 1.

Threats

  • Interruptions caused by natural or accidental events could affect venues and operating activity 1.
  • Cyber attacks remain a threat even with existing protection measures 1.
  • Violations of health and safety rules could lead to sanctions and litigation 1.

Risks

  • Business interruptionhigh

    Natural or accidental events, fires, floods or plant malfunctions could cause damage and venue unavailability 1.

  • Cyber securitymedium

    Cyber threats could affect data and IT system availability, even with protection measures in place 1.

  • Dependence on key staffmedium

    Losing managers or exhibition directors could affect product development and client relationships 1.

  • Health and safety compliancemedium

    Breaches of workplace health and safety rules could lead to significant sanctions and litigation 1.

  • Sustainability reportinglow

    Reporting procedures are being formalised for 2026, which could lead to inconsistencies in reported data 1.

Investment thesis

What would need to be true (bull case)

  • If the 2025-2030 strategy and ESG update translate into execution, the group could consolidate its position as a trade fair organiser with diversified business lines 1.
  • Investments in IT infrastructure and security could reduce operational and continuity risks 1.
  • If its owned venues remain well maintained, the group could keep control over exhibition spaces and event quality 1.

What would break the thesis

  • Geographic concentration in Italy could limit revenue diversification if the local market contracts 1.
  • Dependence on key staff could become a problem if talent cannot be retained or attracted 1.
  • If ESG objectives are not clearly linked to declared policies, the credibility of reporting could be affected 1.

What to watch

  • Progress of the ESG Strategy 2025-2030 and the extension of the ESG incentive system2026
  • Completion of the Unity project integrating IT infrastructure and network modernisation2026
  • Formalisation of sustainability reporting procedures and internal controls2026
  • Evolution of average headcount and of the transitional reporting arrangementsnext 10-K

Products, market & competition

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

The business

The IEG group is active in organising trade fair and congress events globally and operates through five business lines: organised events, hosted events, congress events, related services, and publishing, sporting and other events 1. The parent company operates mainly in Italy, where most of revenue and staff are concentrated 1. The company has been listed on the regulated market Euronext Milan since 19 June 2019 and follows the traditional administration and control model 1.

The governance structure includes the Shareholders' Meeting, the Board of Directors, the Board of Statutory Auditors and an external auditor 1. At 31/12/2025 the board had 10 members, of whom 3 held executive roles, and 60 percent of members were independent 1. The chairman and the chief executive have significant experience in the trade fair sector both nationally and internationally 1.

Segments

Organised and hosted events

The group runs its own shows and hosts third-party events in its exhibition venues, activities that form the core of the business model 1.

Congress events and related services

The congress line and related services complement the exhibition offer, using the group's own infrastructure and relationships with clients across represented industries 1.

Market context

The analysed source describes the group's activity in the trade fair and congress sector and mentions participation in international industry bodies, without giving a market size or market share estimate 1. The market is shaped by geographic presence, particularly in Italy, where most activity is concentrated 1.

Trends

  • Cyber security riskstailwind

    The group has strengthened its IT infrastructure and security measures, which could reduce exposure to cyber threats in an increasingly digital environment 1.

  • Exposure to operational risksheadwind

    Business interruption, venue unavailability and dependence on key staff remain relevant and could affect results if they materialise 1.

Competitive position

The provided source does not identify the group's competitors and does not compare its position with other trade fair operators 1. Therefore any competitive assessment would need additional sources.

  • European trade fair organisers

    The source names no competitors; the group could be compared with other trade fair organisers in Europe, but the analysed document does not support this comparison.

  • Congress venue operators

    For the congress line, competition could come from other congress centres, but the source does not identify them.

  • Publishers and sports event organisers

    For the publishing and sports lines there could be specialised competitors, but the source does not name them.

  • Other operators with owned venues

    The group manages its own venues; other operators with similar infrastructure could be competitors, without being identified in the source.

News & filings

In the press

No news in our archive over the last 180 days.

Annual reports (ESEF)

Sources

  1. [1] Annual report, fiscal year ended 2025-12-31 (ESEF) · SEC / Italian Exhibition Group S.p.A. · 31 Dec 2025

Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.