Easyfairs’ financial growth can provide a footprint for the events industry. The company posted a significant revenue increase of 20.8%, rising to €229.3m from €189.8m in the previous year.
The growth can be attributed to several factors. Easyfairs increased its volume of events by 9%, successful acquisitions led to 5% of total sales and the company won awards for its AI system at shows. A combination of a rise in events, astute implementation of AI and new acquisitions opening new markets all count as contributions for its growth. In this article, we break down how Easyfairs has achieved this success, and how you can copy their model.
The increased demand for events
Easyfairs’ financial success highlight the benefits of capitalising on the increased demand for events. Easyfairs put on 15 new shows in the previous financial year.
It pays to put on events. Marc Hellemens, chief financial officer at Easyfairs, reinforced the importance, saying that the rise in revenue is “thanks to the post-Covid rebound and organic growth characterised by significant growth in the volume of events”.
Easyfairs’ financial growth followed the general trend in the events industry in 2023-24. Chris Skeith, CEO and managing director of UFI, notes: “according to the UFI 33rd Global Exhibition Barometer, industry revenues increased by an average of 20% in 2023.”
As the demand for events increased, Easyfairs put on more events – a simple model of supply and demand executed by the company.
Emerging technologies
The quantity certainly plays a role, but quantity without quality will not result in profitability. Easyfairs successfully showed how keeping to its business model while successfully implementing new technologies will create the best opportunity for a financially successful event.
The implementation of AI, and the way in which Easyfairs utilises it, provides a strong example of how using new technologies can enhance the quality of an event. Anne Lafère, Easyfairs group CEO, highlighted the contribution AI had made: “We’re applying artificial intelligence, such as matchmaking algorithms, to facilitate purposeful connections and to personalise visitors’ agendas according to their preferences and objectives”.
Paul Woodward, exhibition organiser advisor, said: “Easyfairs deployed emerging technology sooner than others and more effectively.”
Consequently, AI has played a huge factor in Easyfairs’ growth. Easyfairs won the UFI technology awards in 2024 because of the success “for deploying artificial intelligence, which is being used to improve operations and enhance the customer experience”. Easyfairs shows the events industry should not fear AI but embrace it.
Collaboration
Easyfairs’ financial growth convey the importance of collaboration with other companies and individuals in the event sector. In 2023-24 financial year, Easyfairs were successful in its acquisitions. Companies it acquired include Colitech and Southern Manufacturing.
Crucially, acquisitions open new markets. For example, Coiltech events caters to specialised communities in the machinery industry. New markets means new business which is reflected in Easyfairs financial growth. Chris Skeith said: “Acquisitions are a key growth strategy for expanding portfolios, entering new markets and acquiring niche expertise. They enable diversification and innovation, which are critical in a competitive market”.
Paul Woodward added: “Acquisitions allow for an immediate increase in revenue when it would normally take 3-5 years for progress to show. After Easyfairs’ ownership change, it is better placed to make acquisitions following business models like Informa’s.”
The decision about who to acquire is also important. Coiltech had huge successes exhibiting previously. Coiltech’s “cost-to-benefit ratio of participation at Coiltech surpasses that of similar subject-related events”. The previous success and future potential of Coiltech was recognised by Easyfairs, resulting in a successful acquisition.
Looking ahead
Easyfairs’ ambition for growth does not look like stopping. New investments, new shows and keeping up with new technologies are all opportunities Easyfairs’, and the events industry it serves, can look forward to in 2025.
Matt Benyon, who shares CEO responsibilities with Lafère affirmed: “with the recently announced new investment from Cobepa and Inflexion, prospects for growth are greater than ever. The investment will fund both organic growth through new events and product launches and what we call geo-cloning – transplanting proven event concepts in new cities and regions – as well as sizeable acquisitions.”
Source: www.exhibitionworld.co.uk
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