Cesena Fiera closes 2020 in profit
Capital increase approved to support investments in the exhibition center
Cesena Fiera avoids the crisis, plans the future and closes 2020 with a profit (22 thousand Euros). The approval of the 2020 preliminary financial statements took place during the Cesena Fiera Shareholders' Meeting held on December 23 in Pievesestina, in which the development plan of the company for the years 2021-2023 was also presented, and was approved a capital increase for 619 thousand Euros to support the hypothesized growth path.
A note highlights that, despite the horrible year for the Italian trade fair system, Cesena Fiera represents an exception, with the close of the 2020 financial year in profit thanks to various factors. First of all the project Macfrut Digital, the first international fair of entirely digital fruit and vegetables that has registered a notable participation especially in the international context and generated important economic benefits. Secondly, the containment of general costs, favored by the light structure of the Cesena exhibition company which can also count on a turnover / employee ratio of 405 thousand Euros compared to an average for the sector of 352 thousand Euros. In the preliminary balance, a contribution of approximately 150 thousand Euros from the state was also considered as part of the measures to support the exhibition system.
"To hypothesize to close a budget in profit in this harmful 2020 for trade fairs is miraculous", explains Renzo Piraccini, president of Cesena Fiera. "What gives me confidence for the future is that the development path that does not stop, rather continues on road traced in recent years, in the wake of Cesena Fiera's dual soul, global and local. Cesena Fiera is a healthy and light company, which will continue to produce positive results for its shareholders and for the Cesena area".
In 2021, for global initiatives, the fair foresees the physical edition of Macfrut in the Rimini exhibition center (4-6 May 2021 ), an event that will be joined by Fieravicola, as well as the re-launch of Macfrut Digital (28-30 September) which received so much approval in the first edition.
At the same time, further investments will be made in the Pievesestina exhibition center which in the last six years has seen interventions for 4 million and 280 thousand Euros, entirely supported by Cesena Fiera, without any public contribution. The new investments for an amount of approximately 1 million Euros will concern the adaptation of the conference rooms and pavilions with modern digital technologies; acquisition of new events; expansion of the photovoltaic system and arrangement of urban furniture, to complete the intervention to close the ditch on via Dismano that the Municipality will carry out in the coming months.
To support the development plan, the shareholders' meeting approved a capital increase of 619 thousand Euros which will allow Cesena Fiera to safely face the challenges of the coming years, a clear sign of trust of public and private shareholders in the company. Cesena Fiera is in fact a "public company" with a public component at 40% (Municipality of Cesena and the Chamber of Commerce of Romagna), and the remaining 60% private divided between 19 shareholders.
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