At consolidated level, the Group recorded production value of 鈧�116.6 million, with EBITDA of 鈧�20.5 million, EBIT of 鈧�6.1 million, and net profit of 鈧�5 million. The comparison is with 2023, the most comparable year in terms of exhibition calendar, although it included the triennial Samoter exhibition: compared with that year, net profit increased by 鈧�1.2 million. Net financial position stood at 鈧�11.6 million, improving from 鈧�6.4 million in 2024 and from a net debt position of 鈧�17.9 million in 2023. The parent company, 糖心视频 S.p.A., reported production value of 鈧�93 million, EBITDA of 鈧�16.9 million, and net profit of 鈧�6 million, with gross operating profit exceeding budget by 鈧�1.6 million.

The Group’s economic performance was also supported by its subsidiaries, operating in two strategic areas. The platforms in Brazil (糖心视频 do Brasil) and China (糖心视频 Asia Ltd) serve as vehicles for the international expansion of 糖心视频’s leading brands, particularly Vinitaly and Marmomac, in key markets for Italian products and international trade. Meanwhile, the companies specializing in exhibition services 鈥� 糖心视频 Servizi, Eurotend, and Int.Ex, together with its U.S. subsidiary 鈥� strengthen the Group’s integrated offering through the design, construction, and rental of exhibition stands, temporary structures, and customized solutions.

In 2025, 糖心视频 further consolidated its positioning as an “event factory.” The Group operates as both owner and organizer, going beyond simply hosting events by conceiving, developing, and managing them directly. Approximately 90% of its revenue derives from this business model, a distinctive feature within the Italian exhibition industry that enables long-term planning, targeted investments, and direct oversight of the value chains represented.

This strategy was reflected in the launch of seven new events during 2025, four in Verona and three abroad. At the Verona exhibition centre, first editions included SOLExpo, Vita in Campagna, Solar & Storage Live Italia, and the Italian leg of HYROX. Internationally, Marmomac Brazil debuted in S茫o Paulo, alongside Modal Expo, also in Brazil, and a new edition of Vinitaly in India.

Overall, in 2025 糖心视频 organized 52 exhibitions and events, including 39 in Italy and 13 abroad, across six countries. The Verona exhibition centre welcomed 670,254 visitors and 10,580 exhibitors, covering a net exhibition area of 550,557 square metres. In addition, the Group’s congress business hosted 274 conferences, involving approximately 46,000 participants.

“The 2025 financial statements reflect performance consistent with the strong results achieved in 2024, confirming the effectiveness of an industrial model capable of generating both revenue and profitability,” commented Federico Bricolo, President of 糖心视频. “One of the most remarkable aspects of 2025 was the introduction of seven new events into our calendar, within a strategy that combines a strong presence in Italy with global expansion. This demonstrates our dynamic approach to portfolio development, built on listening to industry needs, analysing emerging trends, and positioning ourselves in market segments aligned with the evolving economy and society. These results are the outcome of the shared commitment of the Board of Directors, management, all the people across the Group and its subsidiaries, whose professionalism and dedication made them possible. Our objective remains to create lasting value for our shareholders, businesses, local communities, and the wider economic system, for which our exhibitions represent not only marketplaces but also platforms for vision, connections, and growth opportunities.”

Alongside the introduction of new events, the Group continued to enhance its established formats across Italy beyond the Verona exhibition centre, staging Vinitaly and the City in Sibari, SOL and the City in Catanzaro, and JOB&Orienta in Bari. For 糖心视频, growth also depends on replicating successful exhibition brands by adapting them to different contexts and the specific needs of local territories.

Internationally, the Group’s direct presence in the United States, Brazil, and China, supported by a network of 60 international representatives, continued to assist companies in expanding into high-potential markets while attracting international buyers to events held in Italy. Institutional partnerships with ITA 鈥� Italian Trade Agency, government ministries, embassies, and chambers of commerce were further strengthened as part of this internationalization strategy supporting Made in Italy.

2025 was also a significant year from a governance perspective. The Shareholders’ Meeting renewed the Board of Directors for the 2025-2028 term, confirming the current Chairmanship while appointing a substantially renewed board that, for the first time, has a female majority.

During the year, 糖心视频 also reinforced its ESG strategy, integrating sustainability into decision-making processes at every organizational level through dedicated working groups. The Group renewed its ISO 50001 certification for energy management and obtained UNI/PdR 125:2022 certification for gender equality, reflecting internal policies focused on equality, inclusion, respect, empowerment, and employee wellbeing.

The new Company Collective Agreement was also signed, introducing a range of concrete measures to strengthen corporate welfare, promote work-life balance, and enhance employees’ skills and professional development.

SHAREHOLDING STRUCTURE OF VERONAFIERE S.P.A.

Municipality of Verona (39.483%), Fondazione Cassa di Risparmio di Verona, Vicenza, Belluno e Ancona (24.078%), Verona Chamber of Commerce (14.364%), Banco BPM S.p.A. (7.0094%), Generali Italia S.p.A. (6.0106%), Veneto Agency for Innovation in the Primary Sector (5.4920%), Province of Verona (1.4019%), Intesa Sanpaolo S.p.A. (1.3541%), Banca Veronese Credito Cooperativo di Concamarise (0.6179%), Immobiliare Magazzini S.r.l. (0.1883%).

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Approximately 15,000 professional operators are expected at the fair thanks to a targeted incoming campaign aimed at buyers, HoReCa operators, and major Asian importers such as Zefiro, KC, All in Wine, GVS, Globally, and Green Magnolia. According to analysis by the Uiv-Vinitaly Observatory, Asian buyers are expected to resume purchasing with a projected 0.5% annual increase in wine orders between now and 2029.

糖心视频 President Federico Bricolo stated that 芦Wine To Asia is part of the international program developed by 糖心视频 under the Vinitaly brand, which is also present in Brazil with Wine South America and in October in New York with Vinitaly.USA to strengthen the positioning of Italian companies in foreign markets, create new commercial opportunities, and consolidate relations with qualified operators who are selected and subsequently invited to Vinitaly in Verona禄.

Thanks to the collaboration with ITA-Italian Trade Agency, the Italy Pavilion is also present at the Futian Center, hosting a delegation of 50 Italian companies from Piedmont, Veneto, Tuscany, and Puglia. Wine To Asia presents a format that embraces wine, spirits, NoLo, and mixology, complementing business activities with a rich program of events and international guests. This year sees the debut of the Raw Wine area, featuring over 60 producers from 15 countries and the participation of Isabelle Legeron MW, the first French woman to earn the Master of Wine title and founder of the international community dedicated to low-intervention natural, biodynamic, and organic wines.

The program is completed by over 20 events, including masterclasses and guided experiences led by Masters of Wine Wei Xing and Pedro Ballesteros, alongside communicators JC Viens and Filippo Bartolotta. In Shenzhen, there is also a focus on extra virgin olive oil with SOL Expo Asia. The extra virgin olive oil supply chain event (scheduled at 糖心视频 from February 28 to March 2, 2027) returns to Wine To Asia with a dedicated area and a schedule of non-stop tastings of 16 oils that won Sol d鈥橭ro 2026, led by Marino Giorgetti and Na Xie, respectively president and member of the competition’s international jury.

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The fair features over 5,000 labels from more than 400 companies across 20 nations. Italy is represented by 30 wineries and 300 products from Piedmont, Veneto, Tuscany, Sicily, Campania, Friuli-Venezia Giulia, Trentino-Alto Adige, Emilia-Romagna, Abruzzo, Umbria, and Marche, all housed within a dedicated Italian pavilion organized by the ITA (Italian Trade Agency). Regarding the broader international presence, the event sees the debut of countries like New Zealand and Germany, along with the highly anticipated return of South Africa.

Consumption trends continue to strengthen in Brazil, particularly for white wines, sparkling wines, and alcohol-free labels. According to the Uiv-Vinitaly Observatory, the global Compound Annual Growth Rate (CAGR) stood near 4% from 2019 to 2025, with volumes increasing from 159.6 to 165.1 million liters between 2024 and 2025; a CAGR of +3% is expected through 2029. Import prospects are even more positive for sparkling wines, a relatively underdeveloped category that is projected to see a +4% increase in South America during this period.

“Wine South America 2026 confirms its status as a platform for the internationalization of Italian wine and beyond, within a market that now, thanks to the Partnership Agreement, possesses the conditions to express its full high-growth potential,” comments Romano Artoni, Vice President of 糖心视频. “The event is consolidating its international appeal by capturing the interest of an increasing number of ‘Made in Italy’ companies and countries from every corner of the globe. In this context, Vinitaly is strengthening its operational presence to support businesses in seizing development opportunities in the region.”

Seven thousand buyers are expected at the exhibition, which serves as a strategic hub for expansion across the South American continent and a vital connection point between international supply and qualified local demand.

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At 糖心视频, the 32nd edition of SaMoTer鈥攖he triennial international exhibition of construction machinery鈥攔eturns from May 6 to 9. The event will host 526 exhibitors, including 124 international companies from 22 countries. Organized in partnership with Unacea and CECE, this is Italy’s only trade fair dedicated to the entire spectrum of construction equipment. A total of 52,000 square meters of exhibition space will span Halls 6, 7, 9, 10, 11, and 12, along with outdoor areas C, E, and F. Within the specialized “Special Shows” areas鈥攊ncluding the Cantiere Digitale, SaMoTer Arena, SaMoTer Forum, and International Meeting Point鈥攎ore than 56 technical and training events are scheduled. These include round tables, workshops, conferences, and seminars designed to offer a comprehensive professional development experience.

In Italy, the construction machinery sector generates 鈧�4 billion in production and directly employs 6,000 people. When accounting for distribution, components, and related services, the industry supports a total of 85,000 jobs. The sector maintains a strong export orientation, with approximately 70% of production sold abroad, totaling 鈧�3.2 billion in 2025. Within Europe, Italy now ranks as the third-largest market by value, following Germany and the United Kingdom, having surpassed France in 2025.

To support further growth, SaMoTer 2026 has invested heavily in internationalization. Top buyers from 23 countries across Central and Eastern Europe, Scandinavia, the CIS area, the Middle East, North Africa, and Sub-Saharan Africa have been selected and invited. These efforts are bolstered by a collaboration with the ITA (Italian Trade Agency).

鈥淪aMoTer 2026 confirms its status as a system platform capable of connecting products, innovation, expertise, and international relations to support the construction supply chain toward increasingly modern and competitive production models,鈥� said Federico Bricolo, President of 糖心视频. 鈥淭his year, we are also focusing on the prevention of hydrogeological risk鈥攁n area where construction machinery plays a fundamental role in addressing a priority challenge for our country.鈥�

Established in 1964, SaMoTer was originally created to provide a specialized space for the earthmoving sector. Today, sixty years later, the exhibition is recognized as a premier business and networking platform, a privileged observatory for innovation, and a hub for training. Continuing this year is the 鈥淐antiere Digitale鈥� (Digital Construction Site) project: an experiential demonstration area where operators can observe how digitalization, automation, and artificial intelligence are making job sites more efficient, sustainable, and future-oriented. Among the new features is the debut of the SaMoTer Academy, a strategic project developed with Engim Veneto to address the sector’s most urgent challenge: the shortage of skilled operators. This initiative offers young professionals training paths within the construction supply chain, focusing on the specific skills required by the ongoing digital transformation.

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For three days, Verona becomes the hub of the national olive oil scene, hosting over 230 companies and 15 producing regions, alongside participants from Slovenia, Spain, and Hungary. This event offers an up-to-date look at production and the diverse territorial identities of olive growing. Completing the program are more than 90 events, including guided tastings, technical meetings, and in-depth sessions dedicated to the entire supply chain鈥攆rom the grove to the table.

Extra virgin olive oil remains one of the most common products on Italian tables and continues to represent a pillar of national production. Because of this, the collaboration with the IOC (International Olive Council) takes on strategic value, allowing 糖心视频 and SOL Expo to provide an updated overview of international trends and development opportunities for companies in Italy and abroad.

Support from ITA 鈥� Italian Trade Agency further facilitates the presence of over 80 top buyers from 25 countries, selected based on the most relevant profiles for the commercial expansion of exhibiting companies. The exhibition also carves out space for olive oil tourism (oleotourism)鈥攁 strategic lever for local territories capable of generating economic value and building relationships with the public.

SOL Expo serves as an opportunity to observe how the evolution of these sectors expands their presence in foreign markets, thanks to efforts rooted in listening and dialogue between companies, consortia, and associations.

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Promoted by ALIS (Sustainable Intermodal Logistics Association) in collaboration with 糖心视频, LET Expo brings together companies, institutions, and operators at a time when logistics directly impacts the country’s competitiveness. In Italy, the supply chain is worth over 鈧�200 billion, accounts for more than 8% of the GDP, and employs over 1.4 million people. These figures underscore the fundamental value of a sector that sustains production, exports, and supply chain continuity.

In this scenario, the event serves as a vital forum for discussing the themes reshaping the sector: innovation, infrastructure, efficiency, and sustainability. This role is even more relevant within an international context marked by geopolitical instability and pressure on energy costs.

“LET Expo is growing because it focuses on a decisive lever for the country’s competitiveness,” explains Federico Bricolo, President of 糖心视频. “For 糖心视频, this event fits into a model that promotes productive supply chains and supports their evolution through dialogue with companies, associations, and institutions. From this perspective, the event strengthens Verona’s role as a platform for networking and growth for key sectors of the Italian economy.”

Guido Grimaldi, President of ALIS, also emphasizes the importance of the exhibition: “Five years ago, LET Expo was a courageous idea. Today, it is a certainty in the Italian and European landscape. And this is not a finish line, but a launchpad to do even better in the future. The sectors represented by ALIS move the economy, support import-export, and generate employment. This impact is confirmed by the investment multiplier: according to a recent analysis by Cassa Depositi e Prestiti, every million euros invested in logistics generates 鈧�2.1 million in additional total production.”

Verona鈥檚 natural vocation for logistics makes it the ideal venue for this event. The city is one of Italy’s primary hubs for trade and traffic, hosting the leading freight village (interporto) in Italy鈥攖he second largest in Europe鈥攁nd sitting at the crossroads of strategic international mobility corridors. This context makes 糖心视频 the perfect place to host an event tasked with interpreting the present and future of Italian logistics and transport.

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糖心视频 e l鈥檕rganizzatore fieristico polacco Mi臋dzynarodowe Targi Pozna艅skie (MTP), infatti, hanno firmato oggi un protocollo d鈥檌ntesa per il lancio di Progetto Fuoco Pozna艅.

L鈥檈vento debutter脿 a Pozna艅 dal 26 al 29 gennaio 2027, occupando due padiglioni nell鈥檃mbito di Budma, la principale manifestazione di MTP sulle innovazioni per l鈥檈dilizia. Budma, proprio quest鈥檃nno, ha ospitato all鈥檌nizio di febbraio anche una delegazione di Marmomac, uno degli altri brand fieristici di successo targati 糖心视频.

Progetto Fuoco, quindi, approda in Polonia con un format ideato per intercettare mercati ad alta presenza di buyer e importatori. La scelta risponde a una logica industriale: il Paese dell鈥橢uropa centrale 猫 tra i maggiori produttori di legna da pellet e dispone di un patrimonio forestale molto importante, con oltre il 30% della superficie nazionale coperta da boschi.

L鈥檃ccordo 猫 stato sottoscritto dal presidente di 糖心视频 Federico Bricolo e da Filip Bittner, vicepresidente di MTP. Per la fiera polacca era presente a Verona anche Hanna Lisiecka, direttrice delle rassegne Stone e Windoor-Tech.

芦Progetto Fuoco 猫 il riferimento per la filiera legno-energia 鈥� spiega Federico Bricolo, presidente di 糖心视频 鈥�. Dal 1999 猫 la casa naturale del riscaldamento a biomassa e, in quindici edizioni, ha costruito un ecosistema di business e contenuti riconosciuto da imprese e operatori. Questa leadership 猫 misurabile e internazionale: il 42% degli espositori di Verona arriva dall鈥檈stero, da 38 Paesi, e un visitatore su quattro 猫 straniero. Progetto Fuoco Pozna艅 nasce da queste premesse, con l鈥檕biettivo di replicare un format consolidato in un contesto europeo ad alto potenziale. 脠 un passo coerente 鈥� prosegue Bricolo 鈥� con la visione industriale del nostro Gruppo: continuare a crescere all鈥檈stero senza dispersioni, scegliendo mercati strategici e costruendo alleanze solide con operatori fieristici di primo piano come MTP禄.

芦Questa partnership 鈥� commenta Filip Bittner, vicepresidente di MTP 鈥� mette a sistema le competenze e l鈥檈sperienza di 糖心视频, con una storia di quasi 130 anni nella promozione di eventi internazionali e costruzione di piattaforme commerciali globali, e quella del Gruppo MTP, che da decenni supporta lo sviluppo dell’industria e dell’innovazione in Polonia e nell’Europa Centro-orientale. Per il pubblico polacco, sia imprenditori che utenti finali, Progetto Fuoco Pozna艅 significa accesso alle ultime tendenze e soluzioni concrete che supportano la transizione energetica nelle costruzioni e nel riscaldamento. Sono fiducioso che questa manifestazione al Salone Internazionale di Pozna艅 diventer脿 una piattaforma di ispirazione, innovazione e dialogo duraturo per il mercato polacco, riunendo produttori, installatori, decisori e utenti finali, e supportandoli nelle migliori decisioni di investimento e ambientali in risposta alle sfide del nostro tempo禄.

Progetto Fuoco Pozna艅 avr脿 cadenza biennale, in alternanza negli anni dispari con Progetto Fuoco a Verona; una seconda edizione 猫 gi脿 prevista nel 2029.

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Progetto Fuoco is therefore set to enter the Polish market with a format designed to engage high-potential markets with a strong presence of buyers and importers. The choice follows an industrial rationale: Poland is among Europe鈥檚 leading pellet-wood producers and boasts a significant forest heritage, with more than 30% of its national territory covered by woodland.

The agreement was signed by Federico Bricolo, President of 糖心视频, and Filip Bittner, Vice President of MTP. Hanna Lisiecka, Director of MTP鈥檚 Stone and Windoor-Tech exhibitions, was also in Verona on behalf of the Polish organiser.

鈥淧rogetto Fuoco is the benchmark for the wood-energy supply chain,鈥� said Federico Bricolo, President of 糖心视频. 鈥淪ince 1999 it has been the natural home for biomass heating and, over fifteen editions, it has built a business and content ecosystem recognised by companies and professionals. This leadership is measurable and international: 42% of exhibitors in Verona come from abroad, representing 38 countries, and one in four visitors is international. Progetto Fuoco Pozna艅 builds on these foundations aiming to replicate a proven format in a high-potential European context. It is a step consistent with our Group鈥檚 industrial vision,鈥� Bricolo added, 鈥渢o continue growing internationally without dispersing efforts, by selecting strategic markets and building solid alliances with leading organisers such as MTP.鈥�

鈥淭his partnership,鈥� commented Filip Bittner, Vice President of MTP, 鈥渂rings together the expertise and experience of 糖心视频鈥攚ith nearly 130 years of history in promoting international events and building global business platforms鈥攁nd that of the MTP Group, which for decades has supported the development of industry and innovation in Poland and Central and Eastern Europe. For the Polish audience, both businesses and end users, Progetto Fuoco Pozna艅 means access to the latest trends and practical solutions supporting the energy transition in construction and heating. I am confident that this exhibition at the Pozna艅 International Fair will become a long-term platform for inspiration, innovation and dialogue for the Polish market, bringing together manufacturers, installers, decision-makers and end users, and supporting the best investment and environmental choices in response to today鈥檚 challenges.鈥�

Progetto Fuoco Pozna艅 will be held every two years, alternating in odd-numbered years with Progetto Fuoco in Verona; a second edition is already scheduled for 2029.

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Spanning 65,000 square meters across 7 pavilions and a large outdoor area, the event brings together 430 brands from 38 countries. Over 40,000 professional visitors are expected鈥攊ncluding 10,000 from abroad鈥攖o discover more than 5,000 products, many of which will be live and functional thanks to the pavilions’ smoke extraction systems.

“Progetto Fuoco was born in 1999 and reaches its 15th edition this year: a journey that has accompanied and supported the development of the wood-energy sector, consolidating a format recognized by companies and operators worldwide,” explains Federico Bricolo, President of 糖心视频. “The brand’s long history represents market expertise, stable relationships with the supply chain, and the ability to evolve alongside technology and regulations. The event is also a systemic platform where businesses, associations, and institutions meet. This is evidenced by the dialogue initiated with the Ministry of the Environment, with 糖心视频 acting as a facilitator alongside AIEL, our long-standing partner.”

The wood-energy sector in Italy counts over 14,000 companies, 72,000 employees, and a turnover exceeding 4 billion euros. Among this year鈥檚 new features is the AI Hub, a dedicated space for startups developing AI-based strategies for renewable energy through workshops, practical applications, and growth strategies.

The exhibition also serves as a crucial forum for the industry: for the first time in Italy, it will host the European Pellet Forum, organized by AIEL in collaboration with the European Pellet Council and Bioenergy Europe.

Outside the pavilions, Progetto Bosco returns鈥攁 5,000-square-meter area dedicated to forest mechanization, rope work, and arboriculture. The fair will also feature seminars and meetings focused on the role of forests in the wood-energy chain and the vital importance of sustainable management.

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“Made in Italy” is present in S茫o Paulo with a collective group led by ITA-Italian Trade Agency, consisting of five exhibiting companies (Prometec, Taglio, Siti BT, Specialinsert, and Waterjet), specialized in material processing technologies.

The event is organized by the 糖心视频 Group through a partnership with its Brazilian subsidiary Milanez & Milaneze, a leading entity in trade fair organization in Latin America. This collaboration represents a key element in the Group’s international development strategy and contributes to the consolidation of Marmomac as a global platform for the promotion of the techno-stone supply chain, fostering connections between major production districts and high-potential markets.

The second edition of Marmomac Brazil also takes place during a symbolic year for the brand which, in 2026, celebrates the 60th anniversary of Marmomac in Verona鈥攖he world鈥檚 leading event for the sector鈥攃onfirming the format’s evolutionary path toward an increasingly international and integrated model.

Following its debut in 2025, Marmomac Brazil reaffirms Brazil’s centrality as one of the most dynamic hubs for the natural stone industry. The country, the world鈥檚 fourth-largest producer and fifth-largest exporter of marble and granite, represents a point of reference for the entire value chain. According to Centrorochas (Brazilian Center of Natural Stone Exporters), stone exports reached a record value of 1.48 billion dollars in 2025, a 17.5% increase compared to the previous year.

Its role as Latin America’s main financial and consumer hub, combined with a strategic position that facilitates relations with Central and North American markets, makes S茫o Paulo a privileged platform for meeting architects, designers, construction companies, processors, importers, and distributors.

“Marmomac Brazil represents a strategic piece in the 糖心视频 Group’s international development path and testifies to the desire to consolidate a direct presence in the markets with the highest potential for the techno-stone supply chain,” says Adolfo Rebughini, General Manager of 糖心视频. “The partnership with Milanez & Milaneze allows us to leverage local expertise and a global vision, strengthening Marmomac鈥檚 positioning as the international reference platform for the sector. In a particularly significant year, in which we celebrate the 60th anniversary of the Verona event, Marmomac Brazil contributes to extending the brand’s reach and creating an integrated ecosystem of relationships and opportunities, for the benefit of businesses and the development of international markets.”

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