The Board of Directors of Italian Exhibition Group SpA (IEG), a leading Italian company in the organization of international trade fairs and listed on Euronext Milan, a regulated market organized and managed by Borsa Italiana SpA, met today and approved the consolidated interim financial report as of March 31, 2026.

The Group closed the first quarter of 2026 with revenues of €105.0 million, up €2.2 million from €102.8 million at March 31, 2025. Revenue growth was driven by the organized events business line, thanks to the organic development of its portfolio of products, which generated a contribution of approximately €4.3 million, offsetting a less favorable quarter for the conference sector, characterized by lower conference room occupancy rates. The positive performance of the organized events business was also reflected in the related services line, which recorded a revenue increase of just over €1.2 million.

Adjusted EBITDA amounted to €39.5 million, an improvement of €1.4 million compared to March 31, 2025, when the Group recorded a gross operating margin of €38.2 million.

The Adjusted EBITDA margin was 37.6%, up 0.5% from 37.1% at March 31, 2025, due to the increased contribution of the organized events business to the consolidated revenue.

Adjusted EBIT amounted to €33.8 million, up €0.5 million compared to the first quarter of 2025, to 32.2% of revenues, compared to 32.4% at March 31, 2025, due to amortization and depreciation increasing by €0.7 million, as a result of the full entry into operation of the investments developed during 2025.

The Group closed the quarter with a profit of 22.8 million euros, compared to 21.5 million at March 31, 2025, improving the result by 1.3 million, thanks to the operating result.

Net financial position as of March 31, 2026, amounted to €89.2 million, down €1.2 million from €90.4 million at December 31, 2025. The cash component improved by €9.3 million, supported by improved working capital performance compared to the first quarter of 2025 and despite the absorption of €14.9 million for investments and acquisitions. The non-cash component committed resources of €8.3 million due to the signing of new lease agreements and the recognition of a new put option.

"We are satisfied with the results achieved in the first quarter of 2026, which highlight significant growth in our core business of organized events, supported by strong volumes and positive trends in event-related activities," stated Corrado Peraboni , CEO of Italian Exhibition Group. "The performance recorded during the period confirms the Group's solid positioning and its ability to meet constantly evolving demand. During the quarter, the scheduling of some conferences resulted in their different contributions over the course of the financial year, without altering the overall expectations for annual business performance. In this context, the Group's operating trend remains positive and consistent with management's expectations."

We continue to work along the lines outlined in the 2025-2030 Strategic Plan, with a particular focus on developing our events portfolio, strengthening our international presence, and evolving our offering. The transaction completed in Brazil in the functional ingredients, health products, and supplements sector also fits into this direction, further expanding the Group's presence in markets with high growth potential and high levels of innovation. In this context, we believe that the 2026 guidance communicated to the market remains fully confirmed, despite the instability of the international geopolitical context,” concludes Peraboni .