Fiera Milano SpA. announced consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported revenues from sales and services of EUR 65.5 million against EUR 92.9 million a year ago. Net operating loss (LBIT) was EUR 1.0 million against net operating result (EBIT) of EUR 23.1 million a year ago. Loss before income tax was EUR 2.0 million against income before income tax of EUR 22.3 million a year ago. Loss attributable to the Shareholders of the controlling entity was EUR 1.8 million against income attributable to the Shareholders of the controlling entity of EUR 22.5 million a year ago. At March 31, 2013, net debt was Euro 82.8 million compared to Euro 79.7 million at December 31, 2012, mainly due to the trend in net working capital and, in particular, to the early payment of the six-monthly rent for the two exhibition sites to the controlling shareholder, Fondazione Fiera Milano. Total cash flow in the quarter (expressed as pre-tax result plus depreciation, amortization and provisions) was negative for EUR 1.5 million compared to a positive figure of EUR 25.3 million in the same quarter of the preceding financial year. The decrease in revenues was mainly due to the absence of the exhibitions Mostra Convegno Expocomfort and Ipack-Ima, which both were held in the first quarter of 2012, and also to the trend in demand for space at the directly organized exhibitions of the Group.

Fiera Milano SpA., Q1 2013 Earnings Call, May 14, 2013

Fiera Milano SpA. reported unaudited consolidated and standalone earnings results for the year ended December 31, 2012. For the year, on consolidated basis, the company's revenues from sales and services were EUR 263,408,000 against EUR 278,000,000 a year ago. Net operating result (EBIT) was EUR 2,105,000 against EUR 15,518,000 a year ago. Loss before income tax was EUR 1,764,000 against profit before income tax of EUR 12,716,000 a year ago. Loss from continuing operations was EUR 1,936,000 against profit from continuing operations of EUR 5,149,000 a year ago. Loss attributable to the shareholders of the controlling entity was EUR 2,024,000 or EUR 0.0491 diluted per share against profit attributable to the shareholders of the controlling entity of EUR 4,927,000 or EUR 0.1193 diluted per share a year ago. Cash used in operating activities was EUR 3,715,000 against cash flow from operating activities of EUR 52,193,000 a year ago. Investments in tangible assets were EUR 2,018,000 against EUR 8,532,000 a year ago. Investments in intangible assets were EUR 964,000 against EUR 2,080,000 a year ago. Net debt as of December 31, 2012 was EUR 79.7 million against EUR 52.2 million a year ago. For the year, on standalone basis, the company's revenues from sales and services were EUR 198,099,574 against EUR 212,205,449 a year ago. Net operating loss (LBIT) was EUR 1,139,461 against net operating profit (EBIT) of EUR 12,901,504 a year ago. Loss before income tax was EUR 3,273,026 against profit before income tax of EUR 14,069,062 a year ago. Loss from continuing operations was EUR 1,821,919 against profit from continuing operations of EUR 8,848,962 a year ago. Loss for the year was EUR 1,821,919 against profit for the year of EUR 8,848,962 a year ago. Cash used in operating activities was EUR 17,832,998 against cash flow from operating activities of EUR 39,397,281 a year ago. Investments in tangible assets were EUR 571,496 against EUR 2,311,443 a year ago. Investments in intangible assets were EUR 3,232,340 against EUR 2,943,841 a year ago. Net debt as of December 31, 2012 was EUR 93.3 million against EUR 62.1 million a year ago.