Organic growth, acquisitions and cost control were all contributing factors in the 20.8% jump in revenues announced by international exhibition organiser Easyfairs for the financial year 2023-24.
Easyfairs 2023-24 revenues grew to €229.3m (previous year: €189.m), with recurring EBITDA hit €52.3m (previous year: €35.5m), an increase of 47.1%), the group reported.
Commenting on the results, Easyfairs’ chief financial officer Marc Hellemans said: “Our previous financial year 2022-23 showed significant growth largely thanks to the post-Covid rebound. So it is especially gratifying that our figures for 2023-24 are even better. Revenues are up, thanks mainly to strong organic growth, by 22.9%, which has been characterised by significant growth in the volume of events – close to 9%. We also launched 15 new shows, contributing 4.5% to our total sales. In addition, two acquisitions in the financial year, Coiltech and Southern Manufacturing, contributed almost 5% to total sales.”
The results also underline the resilience of the Easyfairs exhibition business model. “The more the world goes digital, the more value people place on the ability to meet face to face,” commented Easyfairs’ group CEO Anne Lafère. “At the same time, people expect a personalised experience in all they do and visiting an event is no exception. That’s why, for example, we’re applying artificial intelligence, such as matchmaking algorithms, to facilitate purposeful connections and to personalise visitors’ agendas according to their preferences and objectives.”
Reflecting on three consecutive record years and the prospects for 2025, Matt Benyon, who shares group CEO responsibilities with Lafère, added: “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.”
Download Easyfairs 2023-24 Financial Report here. Easyfairs is one of the Top 20 exhibition organisers in the world with 110 event titles operating in 12 countries.
Source: www.exhibitionworld.co.uk
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