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Fiera Milano

DB:FM3
Snowflake Description

Outstanding track record with adequate balance sheet and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FM3
DB
€197M
Market Cap
  1. Home
  2. DE
  3. Commercial Services
Company description

Fiera Milano SpA, together with its subsidiaries, operates in the exhibition and congress industry in Italy and internationally. The last earnings update was 27 days ago. More info.


Add to Portfolio Compare Print
  • Fiera Milano has significant price volatility in the past 3 months.
FM3 Share Price and Events
7 Day Returns
3.8%
DB:FM3
-1.9%
DE Commercial Services
-0.6%
DE Market
1 Year Returns
-50.4%
DB:FM3
-32.9%
DE Commercial Services
-20.9%
DE Market
FM3 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Fiera Milano (FM3) 3.8% -28.5% -48.8% -50.4% 85.4% -58.4%
DE Commercial Services -1.9% -23.9% -35.4% -32.9% -36.8% -47.7%
DE Market -0.6% -18.6% -26.2% -20.9% -25.8% -31.8%
1 Year Return vs Industry and Market
  • FM3 underperformed the Commercial Services industry which returned -32.9% over the past year.
  • FM3 underperformed the Market in Germany which returned -20.9% over the past year.
Price Volatility
FM3
Industry
5yr Volatility vs Market

Value

 Is Fiera Milano undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Fiera Milano to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Fiera Milano.

DB:FM3 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Dividend Discount Model
Dividend Per Share Company Filings (2019-12-31) in EUR € 0.15143
Payout Ratio Company Filings (2019-12-31) 6888.6%
Discount Rate (Cost of Equity) See below 11.5%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:FM3
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 8.2%
Commercial Services Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.588 (1 + (1- 24%) (240.45%))
1.443
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.44
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.443 * 8.23%)
11.49%

Discounted Cash Flow Calculation for DB:FM3 using Dividend Discount Model Model

The calculations below outline how an intrinsic value for Fiera Milano is arrived at by discounting future dividends to their present value. This approach is used for finance firms where free cash flow is difficult to estimate (e.g. Banks/ Insurance firms).

If the firm does not pay the majority of its earnings out as a dividend this method will often arrive at a value significantly lower than the share price.

See our documentation to learn about this calculation.

DB:FM3 Gordon Growth Model
Calculation Result
Value per share = Expected dividends per share / (Discount Rate - Perpetual growth rate)
= €0.15 / (11.49% - -0.39%)
€1.23
DB:FM3 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:FM3 represents 0.98022x of BIT:FM
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.98022x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 1.28 x 0.98022
€1.25
Value per share (EUR) From above. €1.25
Current discount Discount to share price of €2.73
= -1 x (€2.73 - €1.25) / €1.25
-118%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Fiera Milano is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Fiera Milano's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Fiera Milano's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:FM3 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in EUR €0.49
BIT:FM Share Price ** BIT (2020-04-03) in EUR €2.78
Germany Commercial Services Industry PE Ratio Median Figure of 6 Publicly-Listed Commercial Services Companies 94.45x
Germany Market PE Ratio Median Figure of 401 Publicly-Listed Companies 16.57x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Fiera Milano.

DB:FM3 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BIT:FM Share Price ÷ EPS (both in EUR)

= 2.78 ÷ 0.49

5.73x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Fiera Milano is good value based on earnings compared to the DE Commercial Services industry average.
  • Fiera Milano is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Fiera Milano's expected growth come at a high price?
Raw Data
DB:FM3 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 5.73x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
-6.8%per year
Europe Commercial Services Industry PEG Ratio Median Figure of 48 Publicly-Listed Commercial Services Companies 1.09x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.17x

*Line of best fit is calculated by linear regression .

DB:FM3 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 5.73x ÷ -6.8%

-0.84x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Fiera Milano earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Fiera Milano's assets?
Raw Data
DB:FM3 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in EUR €1.51
BIT:FM Share Price * BIT (2020-04-03) in EUR €2.78
Germany Commercial Services Industry PB Ratio Median Figure of 9 Publicly-Listed Commercial Services Companies 2.23x
Germany Market PB Ratio Median Figure of 572 Publicly-Listed Companies 1.44x
DB:FM3 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BIT:FM Share Price ÷ Book Value per Share (both in EUR)

= 2.78 ÷ 1.51

1.84x

* Primary Listing of Fiera Milano.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Fiera Milano is good value based on assets compared to the DE Commercial Services industry average.
X
Value checks
We assess Fiera Milano's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Commercial Services industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Commercial Services industry average (and greater than 0)? (1 check)
  5. Fiera Milano has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Fiera Milano expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-6.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Fiera Milano expected to grow at an attractive rate?
  • Fiera Milano's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Fiera Milano's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • Fiera Milano's revenues are expected to decrease over the next 1-3 years, this is below the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:FM3 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:FM3 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts -6.8%
DB:FM3 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts -0.5%
Germany Commercial Services Industry Earnings Growth Rate Market Cap Weighted Average 21%
Germany Commercial Services Industry Revenue Growth Rate Market Cap Weighted Average 2.8%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:FM3 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:FM3 Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 256 1
2023-12-31 269 1
2022-12-31 260 4 17 2
2021-12-31 320 74 48 2
2020-12-31 244 7 14 3
2020-04-06
DB:FM3 Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-12-31 280 93 34
2019-09-30 238 2
2019-06-30 243 67 8
2019-03-31 241 15
2018-12-31 247 23 19
2018-09-30 272 44
2018-06-30 280 29 37
2018-03-31 272 14
2017-12-31 256 37 2
2017-09-30 220 -29
2017-06-30 216 27 -25
2017-03-31 206 -28

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Fiera Milano's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Fiera Milano's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:FM3 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Fiera Milano Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:FM3 Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31 0.23 0.26 0.21 2.00
2021-12-31 0.66 0.68 0.64 2.00
2020-12-31 0.20 0.26 0.15 3.00
2020-04-06
DB:FM3 Past Financials Data
Date (Data in EUR Millions) EPS *
2019-12-31 0.49
2019-09-30
2019-06-30 0.12
2019-03-31
2018-12-31 0.27
2018-09-30
2018-06-30 0.52
2018-03-31
2017-12-31 0.02
2017-09-30
2017-06-30 -0.35
2017-03-31

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Fiera Milano is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Fiera Milano's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Fiera Milano has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Fiera Milano performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Fiera Milano's growth in the last year to its industry (Commercial Services).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Fiera Milano has delivered over 20% year on year earnings growth in the past 5 years.
  • Fiera Milano's 1-year earnings growth exceeds its 5-year average (82.6% vs 41%)
  • Fiera Milano's earnings growth has exceeded the Europe Commercial Services industry average in the past year (82.6% vs 8.9%).
Earnings and Revenue History
Fiera Milano's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Fiera Milano Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:FM3 Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 279.71 34.43 51.37
2019-09-30 237.84 2.34 62.76
2019-06-30 243.38 8.32 75.53
2019-03-31 240.96 14.73 87.88
2018-12-31 247.22 18.85 100.08
2018-09-30 272.25 43.93 103.14
2018-06-30 280.18 37.01 102.82
2018-03-31 271.54 13.58 103.64
2017-12-31 256.35 1.64 104.08
2017-09-30 219.53 -28.92 101.48
2017-06-30 216.35 -24.96 101.32
2017-03-31 206.22 -28.29 101.30
2016-12-31 221.04 -18.62 99.51
2016-09-30 285.72 12.01 98.16
2016-06-30 292.23 7.33 104.11
2016-03-31 339.14 18.64 111.81
2015-12-31 335.17 4.49 118.28
2015-09-30 281.56 -12.84 118.86
2015-06-30 286.65 -4.22 113.58
2015-03-31 240.87 -20.78 109.65
2014-12-31 242.71 -18.48 106.85
2014-09-30 263.02 -8.52 110.84
2014-06-30 249.93 -17.82 113.81
2014-03-31 257.68 -10.48 112.61
2013-12-31 245.06 -16.50 110.91
2013-09-30 229.48 -28.80 109.08
2013-06-30 235.49 -26.19 109.11

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Fiera Milano has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Fiera Milano used its assets more efficiently than the DE Commercial Services industry average last year based on Return on Assets.
  • Fiera Milano has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess Fiera Milano's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Commercial Services industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Fiera Milano has a total score of 6/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Fiera Milano's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Fiera Milano's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Fiera Milano's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Fiera Milano's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Fiera Milano's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 105.8x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Fiera Milano Company Filings, last reported 3 months ago.

DB:FM3 Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 107.86 1.06 68.03
2019-09-30 93.09 33.61 51.62
2019-06-30 96.88 2.14 57.75
2019-03-31 96.64 35.23 61.09
2018-12-31 82.10 4.81 28.41
2018-09-30 99.67 2.14 23.73
2018-06-30 94.83 7.93 30.66
2018-03-31 81.13 14.24 34.83
2017-12-31 63.04 21.53 17.92
2017-09-30 56.45 47.25 20.29
2017-06-30 67.40 36.81 28.06
2017-03-31 67.86 51.72 37.17
2016-12-31 61.68 63.01 20.90
2016-09-30 88.08 61.20 16.94
2016-06-30 92.55 53.70 14.87
2016-03-31 100.17 39.50 16.67
2015-12-31 85.27 68.30 56.09
2015-09-30 13.73 102.64 19.89
2015-06-30 22.63 110.47 17.19
2015-03-31 21.64 126.14 16.69
2014-12-31 19.69 133.56 12.28
2014-09-30 28.58 142.33 16.39
2014-06-30 34.36 127.79 13.18
2014-03-31 41.97 130.23 17.29
2013-12-31 37.46 113.33 11.42
2013-09-30 38.92 125.91 22.48
2013-06-30 54.73 107.46 19.11
  • Fiera Milano's level of debt (1%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (677.2% vs 1% today).
  • Debt is well covered by operating cash flow (8802.5%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.1x coverage).
X
Financial health checks
We assess Fiera Milano's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Fiera Milano has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Fiera Milano's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.68%
Current annual income from Fiera Milano dividends. Estimated to be 5.45% next year.
If you bought €2,000 of Fiera Milano shares you are expected to receive €94 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Fiera Milano's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.7%).
  • Fiera Milano's dividend is below the markets top 25% of dividend payers in Germany (4.86%).
Upcoming dividend payment

Purchase Fiera Milano before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:FM3 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
Germany Commercial Services Industry Average Dividend Yield Market Cap Weighted Average of 5 Stocks 5.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 316 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:FM3 Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31 0.13 2.00
2021-12-31 0.23 2.00
2020-12-31 0.12 3.00
2020-04-06
DB:FM3 Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2020-03-10 0.130 4.725
2019-03-12 0.130 2.901
2014-11-14 0.000 0.000
2014-07-28 0.000 0.000
2014-05-12 0.000 0.000
2014-03-31 0.000 0.000
2012-08-02 0.200 4.507
2012-07-30 0.200 6.267
2012-03-12 0.200 5.852
2011-05-09 0.000 0.000
2011-03-30 0.000 0.000
2011-03-15 0.000 0.000
2010-07-30 0.000 0.000
2009-04-16 0.080 1.751

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Fiera Milano's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.8x coverage).
X
Income/ dividend checks
We assess Fiera Milano's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Fiera Milano afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Fiera Milano has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Fiera Milano's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Fabrizio Curci
AGE 47
TENURE AS CEO 2.6 years
CEO Bio

Mr. Fabrizio Curci has been Executive Directora at Fiera Milano SpA since 1 September 2017. Mr. Curci has been Chief Executive Officer and General Manager of Fiera Milano S.p.A since 1 September 2017. He graduated in Economics, with a specialisation in marketing, from the Università Commerciale Luigi Bocconi in Milan and then attended its Intensive Managerial Programme in General Management. At FCA – FIAT Chrysler Automobiles he headed up the EMEA after sales business unit and was responsible for the international launch of the Alfa Romeo brand and for Brand Operations in Europe, the Middle East and Africa. At Olivetti – Tecnost he held several marketing and sales roles; in the Fiamm S.p.A. group, he was involved in sales, marketing & communication, and modern distribution for the automotive division.

CEO Compensation
  • Insufficient data for Fabrizio to compare compensation growth.
  • Insufficient data for Fabrizio to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team

Fabrizio Curci

TITLE
CEO, GM & Director
AGE
47
TENURE
2.6 yrs

Gianna La Rana

TITLE
Investor Relations Manager
TENURE
12.5 yrs

Francesco Conci

TITLE
Managing Director of Fiera Milano Congressi SpA

Antonio Greco

TITLE
Managing Director of Fiera Milano Media SpA
Board of Directors Tenure

Average tenure and age of the Fiera Milano board of directors in years:

3
Average Tenure
57.5
Average Age
  • The tenure for the Fiera Milano board of directors is about average.
Board of Directors

Lorenzo Caprio

TITLE
Independent Chairman
AGE
62
TENURE
3 yrs

Fabrizio Curci

TITLE
CEO, GM & Director
AGE
47
TENURE
2.6 yrs

Stefania Chiaruttini

TITLE
Independent Non-Executive Director
AGE
57
TENURE
3 yrs

Elena Vasco

TITLE
Independent Non-Executive Director
AGE
55
TENURE
3 yrs

Riccardo Bauer

TITLE
Chairperson of Statutory Auditors
AGE
68
TENURE
2 yrs

Marina Natale

TITLE
Non-Executive Director
AGE
57
TENURE
3 yrs

Alberto Baldan

TITLE
Independent Non-Executive Director
AGE
59
TENURE
3 yrs

Gianpietro Corbari

TITLE
Independent Non-Executive Director
AGE
58
TENURE
3 yrs

Francesca Golfetto

TITLE
Independent Non-Executive Director
AGE
69
TENURE
3 yrs

Angelo Meregalli

TITLE
Independent Non-Executive Director
AGE
52
TENURE
3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Fiera Milano's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Fiera Milano has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Fiera Milano SpA, together with its subsidiaries, operates in the exhibition and congress industry in Italy and internationally. It operates through Italian Exhibitions Business, Foreign Exhibitions Business, Media, and Congresses segments. The company is involved in organizing and hosting exhibitions and other events; and providing associated services, including end services for exhibitors and visitors. It also produces content; and offers online and offline publishing, conference and event management, destination management, stand-fitting, technical, and other exhibition site services. The company was founded in 1920 and is headquartered in Rho, Italy.

Details
Name: Fiera Milano SpA
FM3
Exchange: DB
Founded: 1920
€197,321,094
70,978,811
Website: http://www.fieramilano.it
Address: Fiera Milano SpA
Strada Statale del Sempione, 28,
Rho,
Milan, 20017,
Italy
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BIT FM Ordinary Shares Borsa Italiana IT EUR 12. Dec 2002
DB FM3 Ordinary Shares Deutsche Boerse AG DE EUR 12. Dec 2002
LSE 0EGH Ordinary Shares London Stock Exchange GB EUR 12. Dec 2002
BATS-CHIXE FMM Ordinary Shares BATS 'Chi-X Europe' GB EUR 12. Dec 2002
Number of employees
Current staff
Staff numbers
689
Fiera Milano employees.
Industry
Diversified Support Services
Commercial Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/06 01:39
End of day share price update: 2020/04/03 00:00
Last estimates confirmation: 2020/04/03
Last earnings filing: 2020/03/10
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.