Expo Milano 2015 closes books with €23m in profit

Expo's final accounts presented.

The universal exposition which made Milan the centre of world attention for six months last year presented its official, final balance sheet on Thursday 12 May, chalking up a €23 million gain.

During its operation, Expo Milano 2015 cost €2,254.7m and when it finally went into liquidation earlier this year it was valued at €2,285.4m. This works out at a gross gain of €30.7 million.

Since the gates closed to the public on 31 October 2015, dismantlement and other costs have totalled €7.7 million, leaving a net gain of €23 million.

Expo was financed by €1,258,700 in public contributions, €944,000 of management income and €169,900 “other income”. Box office income totalled €421.3m, sponsoring another €353.7m, and rental of ground space to participants some €19.2m. Exhibition space and other services in the Italy pavilion netted a further €29.2m, and royalties on food and merchandising €27.8m.

At the end of 2015, outstanding credits due to Expo Milano 2015 amounted to €279.3m, while it still owed €148.85m to be paid out. Some €38m still has to be recovered.

These figures do not take into account the spin-off business made by hotels, airlines, travel agencies and local businesses in Milan during Expo’s six-month duration.

It is estimated that about 22.5m people visited the fair over its six-month period compared with 73.8 visitors to the 2010 Shanghai fair, 22.4m to the one in Aichi (Japan) in 2005 and 18m to Hannover in 2000.