IFEMA MADRID consolidates the growth in its activity in 2023, confirming its strong financial position

IFEMA MADRID has demonstrated a substantial boost in its various business sectors in 2023, with revenues reaching 177.6 million euros. This impressive performance led to a 34.1% increase in EBITDA, amounting to 27.3 million euros, and a net profit of 7.1 million euros. These figures represent a remarkable growth of 265.4% compared to the previous year.

The article IFEMA MADRID consolidates the growth in its activity in 2023, confirming its strong financial position first appeared in TravelDailyNews International.

MADRID – The Chairman of the Governing Board and the Chairman of the Executive Committee of IFEMA MADRID, Ángel Asensio and José Vicente de los Mozos, accompanied by Daniel Martinez, Executive Vice President, presented the 2023 economic and activity results of the institution.

Some data show a consolidation of the healthy reactivation of the previous year, as well as a notable increase in its capacity to generate resources. In 2023, IFEMA MADRID achieved a turnover of 177.6 million euros, raising EBITDA to 27.3 million and earning a net profit of 7.1 million euros, with growth of 34.1% and 265.4%, respectively. This is evidence of the strength of the business of an institution with proven financial solvency that allows it to face its ambitious future projects while keeping its debt to zero.

According to the Chairman of the Executive Committee of IFEMA MADRID, José Vicente de los Mozos, 2023 showcased “the remarkable ability of IFEMA MADRID’s excellent team of professionals. Their dedication and hard work have not only improved earnings from our current activities compared to previous years but also significantly enhanced profit and profitability”.

“The success of our major fairs, such as FITUR, ARCOmadrid, and FRUIT ATTRACTION, along with the development of new projects like the Christmas by STARLITE festival in Madrid, have validated our Strategic Plan. This is a testament to our commitment to diversification, a commitment that will be further exemplified by future emblematic projects such as the F1”.

Likewise, the Chairman of the Governing Board, Ángel Asensio, said that “the figures we approved today show the importance of this institution in promoting the economy and employment of Madrid, and confirm its major contribution to key sectors such as transport, hotels and commerce.” “The member bodies are firmly committed, and its development is another example of the strength of this region and its international leadership in the field of fairs, congresses and meetings. For yet another year, the fifth consecutive one, the company will promote the development of this. We hold the position as the world’s leading destination of congress tourism, and IFEMA MADRID is recognised as Europe’s best congress centre.”

Consolidating activity growth

In 2023, IFEMA MADRID’s various business lines grew, adding a total of 585 events held on its facilities, including 96 fairs and congresses, of which 30 were also digital; four projects abroad; 40 cultural and leisure events; and 445 conventions and professional events. These figures represent an important increase in activity despite the fact that odd-numbered years have no large biennial events in their calendars, confirming the sector’s full recovery. It is also significant to highlight the significant growth in business participation. In total, throughout the year, IFEMA MADRID invited 33,978 exhibiting companies, 59% more than in 2022, and 3.8 million visitors, up by 2.7%, and 28.6% more professional visitors.

“With this solid base of business and activity, said José Vicente de los Mozos, we are building a year that will greatly surpass IFEMA MADRID’s previous records, with a record estimated revenue in 2024 of 206 million euros, an EBITDA of 28.4 million and a result of 11.3 million; all this adding together an activity that will exceed 730 events, 38,125 exhibitors and 4.1 million visitors”.

Leader in international congresses

IFEMA MADRID continues to maintain its position as a leading venue for hosting large congresses and professional events by organisers from around the world. Thus, the MICE sector confirmed its full recovery in 2023, holding 16 events that attracted 75,000 attendees and the return to IFEMA MADRID of five major international congresses attended by professionals and experts from all over the world. The ESMO Congress was particularly noteworthy, as it was the largest global congress on cancer research and welcomed 33,000 experts and 600 speakers.

Internationalisation

Internationalisation is one of the three main objectives of the Strategic Plan roadmap. IFEMA MADRID has made a qualitative leap in its international expansion strategy in 2023, with four projects abroad. For the first time, it participated in a consolidated fair in Latin America together with Corferias, a leading trade fair organiser in Colombia, and PAFYC, ESS+ International Safety Fair of Colombia, under the powered by SICUR umbrella, the great Spanish safety fair.

In addition, it ran its international projects ARCOlisboa in May, Motortec Chile in September, and Salon Look Madrid-Santiago in November, the latter two organised in collaboration with Espacio Riesco in Santiago de Chile.

Diversification

The great new addition, Christmas by STARLITE, put the finishing touch on the year 2023 when around 1.2 million visitors attended the 40 different events in the leisure programme, concerts, and festivals hosted on the IFEMA MADRID facilities.

Digitalisation

In 2023, in the framework of the digital transformation strategy, IFEMA MADRID continued to promote its LIVE Connect platform as a key tool to enhance the experience of exhibitors and visitors at its fairs and events. It achieved a record attendance of 290,583 active visiting users, 109,223 contacts established, 7,827 products presented, and 6,360 meetings and activities created.

The IFEMA MADRID website has also been updated with the main information, purchasing, accreditation, and ticket management tool. There were more than 13.7 million users, more than 20.8 million sessions, and more than 45.4 million pages viewed throughout the year.

Investments

In 2023, IFEMA MADRID implemented the Strategic Plan and undertook transformations such as diversification, internationalisation, and digitalisation of the business worth 11 million euros. Among these were technological applications such as digital platforms, CRM implementation, IoT networks, Red LoRa, and Web 3.0.

Sustainability

Finally, it is worth mentioning IFEMA MADRID’s commitment to sustainability with the aim of mitigating the impact of its activity and achieving the zero-emissions target. In this area, 2023 saw progress in several environmental achievements, such as the reduction of the greenhouse gas emission ratio (carbon footprint) by 90.3% in the last seven years in scopes 1-2.; of electricity consumption by 27.2% compared to 2018; the natural gas consumption ratio was 42.4% compared to 2018; the total drinking water consumption ratio was 33.7% compared to 2018. The paper consumption ratio was 77.3% compared to 2018, and the waste generation ratio was 63.9% compared to 2018. Likewise, in 2023, 79.1% of all waste generated was recycled, and for the fourth consecutive year, electricity consumption was sustainable in all facilities with 100% certified renewable origin. The consumption of 100% recyclable carpet was achieved, and the certification “Calculate and reduce” of MITERD’s carbon footprint in scopes 1 and 2 of the institution was obtained for the fourth consecutive year.

The article IFEMA MADRID consolidates the growth in its activity in 2023, confirming its strong financial position first appeared in TravelDailyNews International.