A first half-year period showing a profit thanks to the excellent results achieved at the beginning of the year and the efficacy of the measures that were immediately adopted to counteract the effects of this unprecedented crisis.
The results of the first half-year, together with substantial financial resources, strict safety protocols and new strategies applied to digitalization, are the strong basis with which IEG is facing the challenge of resuming its operations within a context of prolonged uncertainty in the trade fair sector.
Total revenues for the first half of 2020 amounted to € 61.8 million showing a decline (-38.1%) from € 99.9 million in the same period of the previous year due to the COVID-19 health emergency.
The indicators of operational profitability are all positive despite the substantial cessation of business activities at the end of February. EBITDA1 stood at € 15.6 million, due to lower revenues, compared with the € 26.7 million of the first half of 2019 (-41.5%). EBIT stood at € 3.4 million compared with the € 17.8 million in the same period of 2019 (-80.8%) despite a nonrecurring asset write-down of € 2.6 million.
The net profit attributable to the shareholders of the Parent Company amounted to € 9.8 million, up by 1.2% also thanks to the non-recurrent financial income of € 9.3 million compared with the € 9.7 million in the first half of 2019.