View ValuationFiera Milano 향후 성장Future 기준 점검 0/6Fiera Milano 의 수익과 수익은 각각 연간 0.9% 및 28.5% 감소할 것으로 예상됩니다 while EPS는 연간 0.1% 만큼 성장할 것으로 예상됩니다.핵심 정보-28.5%이익 성장률0.10%EPS 성장률Media 이익 성장29.5%매출 성장률-0.9%향후 자기자본이익률n/a애널리스트 커버리지Low마지막 업데이트15 May 2026최근 향후 성장 업데이트업데이트 없음모든 업데이트 보기Recent updatesBoard Change • May 21High number of new and inexperienced directorsThere are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. 5 experienced directors. No highly experienced directors. Independent Non-Executive Chairperson Carlo Bonomi is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.공시 • Mar 16Fiera Milano S.p.A., Annual General Meeting, Apr 22, 2026Fiera Milano S.p.A., Annual General Meeting, Apr 22, 2026, at 15:00 W. Europe Standard Time.공시 • Feb 20Fiera Milano S.p.A. (BIT:FM) signed a binding agreement to acquire 70% stake in Made In Steel S.R.L. from Siderweb S.p.A. for €9.1 million.Fiera Milano S.p.A. (BIT:FM) signed a binding agreement to acquire 70% stake in Made In Steel S.R.L. from Siderweb S.p.A. for €9.1 million on February 18, 2026. The consideration includes an upfront component of up to €7.7 million, payable at closing and subject to adjustment based on net financial position and net working capital. An earn-out mechanism of up to €1.4 million is also envisaged, equal to €0.7 million for each tranche, contingent upon the achievement of specific economic and financial targets for the 2027 and 2029 editions of the event. The transaction will be financed through available cash resources. Siderweb S.p.A. SB, the event’s founder, will retain a 30% stake in the company, ensuring full organizational and brand continuity of the exhibition. In the related transaction, Fiera Milano S.p.A. (BIT:FM) is also the acquisition of Stipa. For the period ending December 31, 2025, Made In Steel S.R.L. reported total revenue of approximately €4.9 million and EBITDA of approximately €1.7 million. The transaction is expected to close in the first quarter of 2026. Ernesto Guaragnella of KPMG Advisory S.p.A. acted as financial advisor and financial due diligence provider for Fiera Milano S.p.A. ADVANT Nctm acted as legal advisor for Fiera Milano S.p.A. Giacomo Andreoli of Sovereign Capital Advisory S.R.L. acted as financial advisor for Made In Steel S.R.L. Baker Tilly Italia Legal S.R.L. acted as legal advisor for Made In Steel S.R.L.공시 • Feb 18Fiera Milano S.p.A. (BIT:FM) entered into a binding agreement to acquire 51% stake in Stipa Spa for €12.1 million.Fiera Milano S.p.A. (BIT:FM) entered into a binding agreement to acquire 51% stake in Stipa Spa for €12.1 million on February 18, 2026. The transaction will be financed through available cash resources. The agreement also provides for option mechanisms for the potential acquisition of the remaining shares held by current shareholders, exercisable in multiple subsequent time frames. For the period ending December 31, 2025, Stipa Spa reported total revenue of €15 million and EBITDA of €3 million. The transaction is expected to be completed in the first quarter of 2026.Board Change • Dec 30High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Chairperson of the Board of Statutory Auditors Alessandro Solidoro was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.공시 • Apr 16Fiera Milano S.p.A. (BIT:FM) agreed to acquire 51% stake in Expotrans SPA for €6.3 million.Fiera Milano S.p.A. (BIT:FM) agreed to acquire 51% stake in Expotrans SPA for €6.3 million on April 15, 2025. A cash consideration of €6.3 million will be paid by Fiera Milano S.p.A. The acquisition will take place for a value of €6.3 million, to be paid at closing, with a price adjustment mechanism primarily based on the net financial position. The entire consideration will be financed through available cash resources. The agreement provides for a Put/Call option on the remaining 49% of the shares, exercisable upon approval of the 2028 financial statements, with a maximum value of €13.7 million for the remaining shares, in addition to the net financial position, bringing the total maximum transaction value to €20 million. This structure is designed to ensure managerial stability and the transfer of know-how, securing the commitment of the current management and strong operational continuity. For the period ending December 31, 2024, Expotrans SPA reported total revenue of €28.7 million and EBITDA of €2.2 million. The expected completion of the transaction is the second quarter of 2025. KPMG Advisory S.p.A. acted as financial advisor for Fiera Milano S.p.A. ADVANT Nctm acted as legal advisor for Fiera Milano S.p.A. KPMG S.p.A. acted as due diligence provider for Fiera Milano S.p.A. Vitale&Co. S.P.A. acted as financial advisor for Expotrans SPA. Giliberti Triscornia e Associati Studio Legale acted as legal advisor for Expotrans SPA.공시 • Mar 14+ 1 more updateFiera Milano SpA, Annual General Meeting, Apr 23, 2025Fiera Milano SpA, Annual General Meeting, Apr 23, 2025, at 15:00 W. Europe Standard Time.공시 • Dec 20+ 3 more updatesFiera Milano SpA to Report First Half, 2025 Results on Jul 31, 2025Fiera Milano SpA announced that they will report first half, 2025 results on Jul 31, 2025Reported Earnings • Nov 14Third quarter 2024 earnings releasedThird quarter 2024 results: €0.099 loss per share. Revenue: €40.1m (down 12% from 3Q 2023). Net loss: €7.02m (loss widened 254% from 3Q 2023). Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Media industry in Germany. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings.Valuation Update With 7 Day Price Move • Oct 18Investor sentiment improves as stock rises 21%After last week's 21% share price gain to €4.02, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 14x in the Media industry in Germany. Total returns to shareholders of 17% over the past three years.Reported Earnings • Jul 30Second quarter 2024 earnings releasedSecond quarter 2024 results: Revenue: €72.0m (down 14% from 2Q 2023). Net income: €15.1m (down 13% from 2Q 2023). Profit margin: 21% (in line with 2Q 2023). Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Media industry in Germany.New Risk • Jul 22New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 12% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 12% per year for the foreseeable future. Minor Risks High level of debt (103% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.Reported Earnings • May 15First quarter 2024 earnings releasedFirst quarter 2024 results: EPS: €0.11. Revenue: €72.4m (up 50% from 1Q 2023). Net income: €7.68m (up €15.7m from 1Q 2023). Profit margin: 11% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Commercial Services industry in Germany. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Apr 22Upcoming dividend of €0.14 per shareEligible shareholders must have bought the stock before 29 April 2024. Payment date: 02 May 2024. Trailing yield: 3.9%. Lower than top quartile of German dividend payers (4.8%). In line with average of industry peers (4.2%).New Risk • Mar 15New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 9.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 9.5% per year for the foreseeable future. Minor Risk High level of debt (212% net debt to equity).Reported Earnings • Nov 12Third quarter 2023 earnings releasedThird quarter 2023 results: €0.028 loss per share. Revenue: €45.6m (flat on 3Q 2022). Net loss: €1.98m (loss narrowed 55% from 3Q 2022). Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Commercial Services industry in Germany.New Risk • Nov 11New major risk - Revenue and earnings growthEarnings have declined by 4.0% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company.공시 • Jul 29Fiera Milano SpA to Report Q3, 2023 Results on Nov 09, 2023Fiera Milano SpA announced that they will report Q3, 2023 results on Nov 09, 2023Reported Earnings • Jul 28Second quarter 2023 earnings releasedSecond quarter 2023 results: Revenue: €84.1m (down 9.3% from 2Q 2022). Net income: €17.2m (down 5.8% from 2Q 2022). Profit margin: 21% (in line with 2Q 2022). Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Commercial Services industry in Germany. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has remained flat, which means it is significantly lagging earnings.공시 • May 12Fiera Milano SpA to Report First Half, 2023 Results on Jul 26, 2023Fiera Milano SpA announced that they will report first half, 2023 results on Jul 26, 2023Reported Earnings • May 03Full year 2022 earnings released: €0.078 loss per share (vs €0.56 profit in FY 2021)Full year 2022 results: €0.078 loss per share (down from €0.56 profit in FY 2021). Revenue: €220.3m (up 80% from FY 2021). Net loss: €5.60m (down 114% from profit in FY 2021). Revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Commercial Services industry in Germany. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings.Reported Earnings • Mar 17Full year 2022 earnings releasedFull year 2022 results: Revenue: €220.3m (up 70% from FY 2021). Net loss: €5.60m (down 113% from profit in FY 2021).공시 • Feb 08Fiera Milano SpA to Report Fiscal Year 2022 Results on Mar 15, 2023Fiera Milano SpA announced that they will report fiscal year 2022 results on Mar 15, 2023공시 • Nov 25Fiera Milano SpA (BIT:FM) acquired 25% stakes in Ge.Fi. Spa Gestione Fiere for €11.75 million.Fiera Milano SpA (BIT:FM) acquired 25% stakes in Ge.Fi. Spa Gestione Fiere for €11.75 million on November 23, 2022. Fiera Milano SpA (BIT:FM) completed the acquisition of 25% stakes in Ge.Fi. Spa Gestione Fiere on November 23, 2022.Board Change • Nov 16High number of new and inexperienced directorsThere are 8 new directors who have joined the board in the last 3 years. The company's board is composed of: 8 new directors. 4 experienced directors. No highly experienced directors. Independent Non-Executive Director Stefania Chiaruttini is the most experienced director on the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.Reported Earnings • Nov 13Third quarter 2022 earnings releasedThird quarter 2022 results: Revenue: €45.5m (up 29% from 3Q 2021). Net loss: €4.35m (down 447% from profit in 3Q 2021). Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Commercial Services industry in Germany.Reported Earnings • Jul 29Second quarter 2022 earnings releasedSecond quarter 2022 results: Revenue: €92.7m (up €89.6m from 2Q 2021). Net income: €18.3m (up €45.6m from 2Q 2021). Profit margin: 20% (up from net loss in 2Q 2021). Over the next year, revenue is expected to shrink by 6.8% compared to a 10% growth forecast for the industry in Germany.Reported Earnings • May 28First quarter 2022 earnings releasedFirst quarter 2022 results: €0.18 loss per share. Revenue: €23.5m (up €21.9m from 1Q 2021). Net loss: €12.9m (loss narrowed 46% from 1Q 2021). Over the next year, revenue is forecast to grow 26%, compared to a 16% growth forecast for the industry in Germany.Board Change • Apr 27High number of new directorsThere are 6 new directors who have joined the board in the last 3 years. Standing Statutory Auditor Piero Capitini was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.Reported Earnings • Mar 17Full year 2021 earnings: EPS in line with analyst expectations despite revenue beatFull year 2021 results: EPS: €0.62 (up from €0.47 loss in FY 2020). Revenue: €129.8m (up 76% from FY 2020). Net income: €43.2m (up €77.1m from FY 2020). Profit margin: 33% (up from net loss in FY 2020). The move to profitability was primarily driven by higher revenue. Revenue exceeded analyst estimates by 1.1%. Over the next year, revenue is forecast to grow 30%, compared to a 24% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings.Reported Earnings • Nov 10Third quarter 2021 earnings released: EPS €0.018The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €35.3m (up 213% from 3Q 2020). Net income: €1.26m (up €21.4m from 3Q 2020). Profit margin: 3.6% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 98 percentage points per year, which is a significant difference in performance.Reported Earnings • Jul 31Second quarter 2021 earnings releasedThe company reported a decent second quarter result with reduced losses and improved control over expenses, although revenues were weaker. Second quarter 2021 results: Revenue: €3.07m (down 63% from 2Q 2020). Net loss: €1.02m (loss narrowed 95% from 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance.Reported Earnings • May 12First quarter 2021 earnings releasedThe company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2021 results: Revenue: €1.53m (down 97% from 1Q 2020). Net loss: €24.0m (loss widened €24.0m from 1Q 2020).Reported Earnings • Mar 17Full year 2020 earnings released: €0.47 loss per share (vs €0.48 profit in FY 2019)The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: €73.6m (down 74% from FY 2019). Net loss: €33.9m (down 199% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 66% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings.Is New 90 Day High Low • Mar 10New 90-day high: €3.16The company is up 8.0% from its price of €2.92 on 09 December 2020. The German market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Commercial Services industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.05 per share.공시 • Dec 16+ 4 more updatesFiera Milano SpA to Report First Half, 2021 Results on Jul 28, 2021Fiera Milano SpA announced that they will report first half, 2021 results on Jul 28, 2021Is New 90 Day High Low • Dec 07New 90-day high: €2.96The company is up 11% from its price of €2.67 on 08 September 2020. The German market is up 3.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Commercial Services industry, which is up 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.09 per share.Is New 90 Day High Low • Nov 19New 90-day high: €2.81The company is up 13% from its price of €2.49 on 20 August 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.06 per share.Is New 90 Day High Low • Oct 14New 90-day low: €2.26The company is down 26% from its price of €3.07 on 16 July 2020. The German market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Commercial Services industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €0.88 per share.공시 • Sep 21Fiera Milano SpA(BIT:FM) dropped from S&P Global BMI IndexFiera Milano SpA(BIT:FM) dropped from S&P Global BMI Index공시 • Aug 01Fiera Milano SpA (BIT:FM) completed the acquisition of 60% stake in MADE eventi srl from Federlegno Arredo Eventi spa.Fiera Milano SpA (BIT:FM) signed a preliminary binding contract to acquire 60% stake in MADE eventi srl from Federlegno Arredo Eventi spa for €1.9 million on July 17, 2019. The price is based on the absence of any financial debts of MADE eventi srl. The signing of the purchase agreement is expected by the end of October 2019. As of November 14, 2019, the transaction is expected to close by end of 2019. Nicola Brunetti of Gattai Minoli Agostinelli acted as a legal advisor to Fiera Milano. Fiera Milano SpA (BIT:FM) completed the acquisition of 60% stake in MADE eventi srl from Federlegno Arredo Eventi spa on December 5, 2019.공시 • Jul 23Fiera Milano SpA to Report First Half, 2020 Results on Jul 29, 2020Fiera Milano SpA announced that they will report first half, 2020 results on Jul 29, 2020이익 및 매출 성장 예측DB:FM3 - 애널리스트 향후 추정치 및 과거 재무 데이터 (EUR Millions)날짜매출이익자유현금흐름영업현금흐름평균 애널리스트 수12/31/20283953125N/A112/31/20274164849N/A112/31/202638731N/AN/A13/31/202644381N/AN/AN/A12/31/202538050148157N/A9/30/202532020N/AN/AN/A6/30/202530719119126N/A3/31/20252648N/AN/AN/A12/31/2024273195357N/A9/30/202429037N/AN/AN/A6/30/2024296426266N/A3/31/202430845N/AN/AN/A12/31/2023284299198N/A9/30/20232361N/AN/AN/A6/30/2023236-26266N/A3/31/2023245-1N/AN/AN/A12/31/2022220-62731N/A9/30/202224466N/AN/AN/A6/30/202223470155161N/A3/31/202214445N/AN/AN/A12/31/202112240108114N/A9/30/202146-20N/AN/AN/A6/30/202122-40-68-63N/A3/31/202128-52N/AN/AN/A12/31/202074-34-60-54N/A9/30/2020163-25N/AN/AN/A6/30/2020182-17514N/A3/31/202025620N/AN/AN/A12/31/201928034N/A93N/A9/30/20192382N/AN/AN/A6/30/20192438N/A60N/A3/31/201924115N/AN/AN/A12/31/201824719N/A23N/A9/30/201827244N/AN/AN/A6/30/201828037N/A29N/A3/31/201827214N/AN/AN/A12/31/20172562N/A37N/A9/30/2017220-29N/AN/AN/A6/30/2017216-25N/A27N/A3/31/2017206-28N/AN/AN/A12/31/2016221-19N/A-25N/A9/30/201628612N/AN/AN/A6/30/20162927N/A1N/A3/31/201633919N/AN/AN/A12/31/20153354N/A49N/A9/30/2015282-13N/AN/AN/A6/30/2015287-4N/A26N/A더 보기애널리스트 향후 성장 전망수입 대 저축률: FM3 의 수익은 향후 3년간 감소할 것으로 예상됩니다(연간 -28.5%).수익 vs 시장: FM3 의 수익은 향후 3년간 감소할 것으로 예상됩니다(연간 -28.5%).고성장 수익: FM3 의 수익은 향후 3년간 감소할 것으로 예상됩니다.수익 대 시장: FM3 의 수익은 향후 3년간 감소할 것으로 예상됩니다(연간 -0.9%).고성장 매출: FM3 의 수익은 향후 3년 동안 감소할 것으로 예상됩니다(연간 -0.9%).주당순이익 성장 예측향후 자기자본이익률미래 ROE: FM3의 자본 수익률이 3년 후 높을 것으로 예상되는지 판단하기에 데이터가 부족합니다.성장 기업 찾아보기7D1Y7D1Y7D1YMedia 산업의 고성장 기업.View Past Performance기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/25 09:18종가2026/05/25 00:00수익2026/03/31연간 수익2025/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스Fiera Milano S.p.A.는 3명의 분석가가 다루고 있습니다. 이 중 1명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Domenico GhilottiEquita SIM S.p.A.Emanuele GallazziEquita SIM S.p.A.Alberto FranceseIntesa Sanpaolo Equity Research
Board Change • May 21High number of new and inexperienced directorsThere are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. 5 experienced directors. No highly experienced directors. Independent Non-Executive Chairperson Carlo Bonomi is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.
공시 • Mar 16Fiera Milano S.p.A., Annual General Meeting, Apr 22, 2026Fiera Milano S.p.A., Annual General Meeting, Apr 22, 2026, at 15:00 W. Europe Standard Time.
공시 • Feb 20Fiera Milano S.p.A. (BIT:FM) signed a binding agreement to acquire 70% stake in Made In Steel S.R.L. from Siderweb S.p.A. for €9.1 million.Fiera Milano S.p.A. (BIT:FM) signed a binding agreement to acquire 70% stake in Made In Steel S.R.L. from Siderweb S.p.A. for €9.1 million on February 18, 2026. The consideration includes an upfront component of up to €7.7 million, payable at closing and subject to adjustment based on net financial position and net working capital. An earn-out mechanism of up to €1.4 million is also envisaged, equal to €0.7 million for each tranche, contingent upon the achievement of specific economic and financial targets for the 2027 and 2029 editions of the event. The transaction will be financed through available cash resources. Siderweb S.p.A. SB, the event’s founder, will retain a 30% stake in the company, ensuring full organizational and brand continuity of the exhibition. In the related transaction, Fiera Milano S.p.A. (BIT:FM) is also the acquisition of Stipa. For the period ending December 31, 2025, Made In Steel S.R.L. reported total revenue of approximately €4.9 million and EBITDA of approximately €1.7 million. The transaction is expected to close in the first quarter of 2026. Ernesto Guaragnella of KPMG Advisory S.p.A. acted as financial advisor and financial due diligence provider for Fiera Milano S.p.A. ADVANT Nctm acted as legal advisor for Fiera Milano S.p.A. Giacomo Andreoli of Sovereign Capital Advisory S.R.L. acted as financial advisor for Made In Steel S.R.L. Baker Tilly Italia Legal S.R.L. acted as legal advisor for Made In Steel S.R.L.
공시 • Feb 18Fiera Milano S.p.A. (BIT:FM) entered into a binding agreement to acquire 51% stake in Stipa Spa for €12.1 million.Fiera Milano S.p.A. (BIT:FM) entered into a binding agreement to acquire 51% stake in Stipa Spa for €12.1 million on February 18, 2026. The transaction will be financed through available cash resources. The agreement also provides for option mechanisms for the potential acquisition of the remaining shares held by current shareholders, exercisable in multiple subsequent time frames. For the period ending December 31, 2025, Stipa Spa reported total revenue of €15 million and EBITDA of €3 million. The transaction is expected to be completed in the first quarter of 2026.
Board Change • Dec 30High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Chairperson of the Board of Statutory Auditors Alessandro Solidoro was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.
공시 • Apr 16Fiera Milano S.p.A. (BIT:FM) agreed to acquire 51% stake in Expotrans SPA for €6.3 million.Fiera Milano S.p.A. (BIT:FM) agreed to acquire 51% stake in Expotrans SPA for €6.3 million on April 15, 2025. A cash consideration of €6.3 million will be paid by Fiera Milano S.p.A. The acquisition will take place for a value of €6.3 million, to be paid at closing, with a price adjustment mechanism primarily based on the net financial position. The entire consideration will be financed through available cash resources. The agreement provides for a Put/Call option on the remaining 49% of the shares, exercisable upon approval of the 2028 financial statements, with a maximum value of €13.7 million for the remaining shares, in addition to the net financial position, bringing the total maximum transaction value to €20 million. This structure is designed to ensure managerial stability and the transfer of know-how, securing the commitment of the current management and strong operational continuity. For the period ending December 31, 2024, Expotrans SPA reported total revenue of €28.7 million and EBITDA of €2.2 million. The expected completion of the transaction is the second quarter of 2025. KPMG Advisory S.p.A. acted as financial advisor for Fiera Milano S.p.A. ADVANT Nctm acted as legal advisor for Fiera Milano S.p.A. KPMG S.p.A. acted as due diligence provider for Fiera Milano S.p.A. Vitale&Co. S.P.A. acted as financial advisor for Expotrans SPA. Giliberti Triscornia e Associati Studio Legale acted as legal advisor for Expotrans SPA.
공시 • Mar 14+ 1 more updateFiera Milano SpA, Annual General Meeting, Apr 23, 2025Fiera Milano SpA, Annual General Meeting, Apr 23, 2025, at 15:00 W. Europe Standard Time.
공시 • Dec 20+ 3 more updatesFiera Milano SpA to Report First Half, 2025 Results on Jul 31, 2025Fiera Milano SpA announced that they will report first half, 2025 results on Jul 31, 2025
Reported Earnings • Nov 14Third quarter 2024 earnings releasedThird quarter 2024 results: €0.099 loss per share. Revenue: €40.1m (down 12% from 3Q 2023). Net loss: €7.02m (loss widened 254% from 3Q 2023). Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Media industry in Germany. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings.
Valuation Update With 7 Day Price Move • Oct 18Investor sentiment improves as stock rises 21%After last week's 21% share price gain to €4.02, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 14x in the Media industry in Germany. Total returns to shareholders of 17% over the past three years.
Reported Earnings • Jul 30Second quarter 2024 earnings releasedSecond quarter 2024 results: Revenue: €72.0m (down 14% from 2Q 2023). Net income: €15.1m (down 13% from 2Q 2023). Profit margin: 21% (in line with 2Q 2023). Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Media industry in Germany.
New Risk • Jul 22New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 12% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 12% per year for the foreseeable future. Minor Risks High level of debt (103% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.
Reported Earnings • May 15First quarter 2024 earnings releasedFirst quarter 2024 results: EPS: €0.11. Revenue: €72.4m (up 50% from 1Q 2023). Net income: €7.68m (up €15.7m from 1Q 2023). Profit margin: 11% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Commercial Services industry in Germany. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Apr 22Upcoming dividend of €0.14 per shareEligible shareholders must have bought the stock before 29 April 2024. Payment date: 02 May 2024. Trailing yield: 3.9%. Lower than top quartile of German dividend payers (4.8%). In line with average of industry peers (4.2%).
New Risk • Mar 15New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 9.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 9.5% per year for the foreseeable future. Minor Risk High level of debt (212% net debt to equity).
Reported Earnings • Nov 12Third quarter 2023 earnings releasedThird quarter 2023 results: €0.028 loss per share. Revenue: €45.6m (flat on 3Q 2022). Net loss: €1.98m (loss narrowed 55% from 3Q 2022). Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Commercial Services industry in Germany.
New Risk • Nov 11New major risk - Revenue and earnings growthEarnings have declined by 4.0% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company.
공시 • Jul 29Fiera Milano SpA to Report Q3, 2023 Results on Nov 09, 2023Fiera Milano SpA announced that they will report Q3, 2023 results on Nov 09, 2023
Reported Earnings • Jul 28Second quarter 2023 earnings releasedSecond quarter 2023 results: Revenue: €84.1m (down 9.3% from 2Q 2022). Net income: €17.2m (down 5.8% from 2Q 2022). Profit margin: 21% (in line with 2Q 2022). Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Commercial Services industry in Germany. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has remained flat, which means it is significantly lagging earnings.
공시 • May 12Fiera Milano SpA to Report First Half, 2023 Results on Jul 26, 2023Fiera Milano SpA announced that they will report first half, 2023 results on Jul 26, 2023
Reported Earnings • May 03Full year 2022 earnings released: €0.078 loss per share (vs €0.56 profit in FY 2021)Full year 2022 results: €0.078 loss per share (down from €0.56 profit in FY 2021). Revenue: €220.3m (up 80% from FY 2021). Net loss: €5.60m (down 114% from profit in FY 2021). Revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Commercial Services industry in Germany. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings.
Reported Earnings • Mar 17Full year 2022 earnings releasedFull year 2022 results: Revenue: €220.3m (up 70% from FY 2021). Net loss: €5.60m (down 113% from profit in FY 2021).
공시 • Feb 08Fiera Milano SpA to Report Fiscal Year 2022 Results on Mar 15, 2023Fiera Milano SpA announced that they will report fiscal year 2022 results on Mar 15, 2023
공시 • Nov 25Fiera Milano SpA (BIT:FM) acquired 25% stakes in Ge.Fi. Spa Gestione Fiere for €11.75 million.Fiera Milano SpA (BIT:FM) acquired 25% stakes in Ge.Fi. Spa Gestione Fiere for €11.75 million on November 23, 2022. Fiera Milano SpA (BIT:FM) completed the acquisition of 25% stakes in Ge.Fi. Spa Gestione Fiere on November 23, 2022.
Board Change • Nov 16High number of new and inexperienced directorsThere are 8 new directors who have joined the board in the last 3 years. The company's board is composed of: 8 new directors. 4 experienced directors. No highly experienced directors. Independent Non-Executive Director Stefania Chiaruttini is the most experienced director on the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.
Reported Earnings • Nov 13Third quarter 2022 earnings releasedThird quarter 2022 results: Revenue: €45.5m (up 29% from 3Q 2021). Net loss: €4.35m (down 447% from profit in 3Q 2021). Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Commercial Services industry in Germany.
Reported Earnings • Jul 29Second quarter 2022 earnings releasedSecond quarter 2022 results: Revenue: €92.7m (up €89.6m from 2Q 2021). Net income: €18.3m (up €45.6m from 2Q 2021). Profit margin: 20% (up from net loss in 2Q 2021). Over the next year, revenue is expected to shrink by 6.8% compared to a 10% growth forecast for the industry in Germany.
Reported Earnings • May 28First quarter 2022 earnings releasedFirst quarter 2022 results: €0.18 loss per share. Revenue: €23.5m (up €21.9m from 1Q 2021). Net loss: €12.9m (loss narrowed 46% from 1Q 2021). Over the next year, revenue is forecast to grow 26%, compared to a 16% growth forecast for the industry in Germany.
Board Change • Apr 27High number of new directorsThere are 6 new directors who have joined the board in the last 3 years. Standing Statutory Auditor Piero Capitini was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.
Reported Earnings • Mar 17Full year 2021 earnings: EPS in line with analyst expectations despite revenue beatFull year 2021 results: EPS: €0.62 (up from €0.47 loss in FY 2020). Revenue: €129.8m (up 76% from FY 2020). Net income: €43.2m (up €77.1m from FY 2020). Profit margin: 33% (up from net loss in FY 2020). The move to profitability was primarily driven by higher revenue. Revenue exceeded analyst estimates by 1.1%. Over the next year, revenue is forecast to grow 30%, compared to a 24% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings.
Reported Earnings • Nov 10Third quarter 2021 earnings released: EPS €0.018The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €35.3m (up 213% from 3Q 2020). Net income: €1.26m (up €21.4m from 3Q 2020). Profit margin: 3.6% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 98 percentage points per year, which is a significant difference in performance.
Reported Earnings • Jul 31Second quarter 2021 earnings releasedThe company reported a decent second quarter result with reduced losses and improved control over expenses, although revenues were weaker. Second quarter 2021 results: Revenue: €3.07m (down 63% from 2Q 2020). Net loss: €1.02m (loss narrowed 95% from 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance.
Reported Earnings • May 12First quarter 2021 earnings releasedThe company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2021 results: Revenue: €1.53m (down 97% from 1Q 2020). Net loss: €24.0m (loss widened €24.0m from 1Q 2020).
Reported Earnings • Mar 17Full year 2020 earnings released: €0.47 loss per share (vs €0.48 profit in FY 2019)The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: €73.6m (down 74% from FY 2019). Net loss: €33.9m (down 199% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 66% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings.
Is New 90 Day High Low • Mar 10New 90-day high: €3.16The company is up 8.0% from its price of €2.92 on 09 December 2020. The German market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Commercial Services industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.05 per share.
공시 • Dec 16+ 4 more updatesFiera Milano SpA to Report First Half, 2021 Results on Jul 28, 2021Fiera Milano SpA announced that they will report first half, 2021 results on Jul 28, 2021
Is New 90 Day High Low • Dec 07New 90-day high: €2.96The company is up 11% from its price of €2.67 on 08 September 2020. The German market is up 3.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Commercial Services industry, which is up 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.09 per share.
Is New 90 Day High Low • Nov 19New 90-day high: €2.81The company is up 13% from its price of €2.49 on 20 August 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.06 per share.
Is New 90 Day High Low • Oct 14New 90-day low: €2.26The company is down 26% from its price of €3.07 on 16 July 2020. The German market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Commercial Services industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €0.88 per share.
공시 • Sep 21Fiera Milano SpA(BIT:FM) dropped from S&P Global BMI IndexFiera Milano SpA(BIT:FM) dropped from S&P Global BMI Index
공시 • Aug 01Fiera Milano SpA (BIT:FM) completed the acquisition of 60% stake in MADE eventi srl from Federlegno Arredo Eventi spa.Fiera Milano SpA (BIT:FM) signed a preliminary binding contract to acquire 60% stake in MADE eventi srl from Federlegno Arredo Eventi spa for €1.9 million on July 17, 2019. The price is based on the absence of any financial debts of MADE eventi srl. The signing of the purchase agreement is expected by the end of October 2019. As of November 14, 2019, the transaction is expected to close by end of 2019. Nicola Brunetti of Gattai Minoli Agostinelli acted as a legal advisor to Fiera Milano. Fiera Milano SpA (BIT:FM) completed the acquisition of 60% stake in MADE eventi srl from Federlegno Arredo Eventi spa on December 5, 2019.
공시 • Jul 23Fiera Milano SpA to Report First Half, 2020 Results on Jul 29, 2020Fiera Milano SpA announced that they will report first half, 2020 results on Jul 29, 2020