Italy’s Fiera Milano has posted record revenues of €380m, up 39% on €273.2m for 2024. The group also reported a record operating cash generation of €115m. The 2025 dividend increased €18m (€0.25 per share).
The consolidated results at 31 December 2025, approved by the Board, also showed a net profit of €50m, up 165.3% compared to €19.1m in 2024.
The company reported CO₂ emissions dropping, equal to 4,162 tCO₂eq, down 57% compared to 9,686 tCO₂eq in 2024. Energy from renewable sources was equal to 95% of total consumption, compared to 65% in 2024, the group said.
CEO and general manager of Fiera Milano, Francesco Conci, commented: “2025 represents an extraordinary year for Fiera Milano and marks the best result since the company’s listing, confirming the strength and effectiveness of our growth model. The Group closed the year with revenues of €380m, the highest level ever achieved, up 39% compared to the previous year, and with an EBITDA of €132m, an increase of 57%. Net profit nearly tripled, reaching €51m.”
Conci said the results were “built on the strength of our exhibition portfolio, our ability to attract and organise internationally relevant exhibitions and congresses and the progressive development of value-added services, which enables us to increasingly support industrial supply chains and companies in their growth and internationalisation paths. Above all, it is the result of the work, expertise and passion of our people.”
Conci noted the Group’s ability to combine growth, diversification and financial solidity. “This path also includes the external growth transactions carried out over the past year, from the entry of Expotrans and Emac to the more recent acquisitions of Stipa and Made in Steel, which further strengthen our positioning along the value chain of events, services and industrial supply chains,” he said, adding that the Milano Cortina 2026 Winter Olympic and Paralympic Games had represented a milestone for the Group.
“For the first time in the history of the Games, some Olympic competitions took place within an exhibition district, and our infrastructure system hosted key functions for the organisation and communication of the event. It was an extraordinary opportunity for global visibility and a concrete demonstration of the quality of our venues and organisational capabilities,” he noted. “At the same time, we continue to invest with determination in environmental and social sustainability, with the aim of making our venues and events increasingly responsible, efficient and capable of generating value for the local area and for communities. We look to the future with very solid foundations and with the determination to continue our growth path, despite the macroeconomic and geopolitical environment continuing to present elements of uncertainty. We will focus on innovation, internationalisation and services, as well as on the further development of the entertainment business line. In the fourth quarter we will present the new Strategic Plan, which will define the directions for the next phase of Fiera Milano’s development.”
The Congress Business recorded revenues of €59.m for 2025, a slight drop compared to €60.5m in the previous year. The group attributed the decrease compared to the previous year to the absence of revenues from several major congresses, including IAC 24 – International Astronautical Congress 2024, EASL CONGRESS 2024 – European Association for the Study of the Liver, and SIRM – società Italiana di radiologia Medica e Interventistica. This effect was partially offset by revenues related to the use of the venue for the organisation of the XXV Milano Cortina 2026 Winter Olympic Games.
During the 2025 financial year, a total of 105 congress events were held, including the Asian Development Bank Annual Meeting 2025 and the European Hematology Association Congress, as well as medical-scientific congresses such as EAPC 2025 – ESC Preventive Cardiology, ESH 2025 – European Meeting on Hypertension and Cardiovascular Protection and FIF – Salone Professionale di Fisioterapia.
