Ieg (Rimini fair) goes in the red in the 1st semester
Loss of 26.2 million due to the blocking of activities due to the pandemic
Italian Exhibition Group, the holding that controls the Rimini and Vicenza fairs, closed the first half with a negative net result of 26.22 million (from the positive figure of 9.36 million in the same period last year) and revenues in decline of 88.6% to 7.043 million due to the blocking of activities imposed to contain the pandemic.
In a note, the company specified that "despite having postponed the exhibition calendar, due to the persistence of the health crisis, the Ieg group has been alongside its exhibitors through digital platforms and has had the opportunity to reopen the doors of its exhibition centers only starting from June with sporting events". The drop in turnover, despite the significant reduction in costs, led to a negative Ebitda of 14.1 million, down from 15.6 million in the same period of 2020. Ebit stood at -24, 6 million. At 30 June the net financial position amounted to 148.2 million against the 129.1 million of the situation at 31 December 2020.
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