Media Release | MCH Group | Result 2014
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MCH Group AG /
Media Release | MCH Group | Result 2014
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MCH Group: Gratifying result in the cyclically strong exhibition year of 2014
* Operating income CHF 449.4 million
Sales slightly below the exceptional 2013 business year, but significantly
above the comparable business year of 2012.
* Group profit CHF 32.8 million
Increased profit and profitability compared with the 2013 and 2012 business
years.
* Balance sheet further strengthened
Equity ratio increased to 43.4% and net debt reduced by CHF 67 million.
The MCH Group with its head office in Basel, which takes in MCH Messe Basel, MCH
Messe Zürich, MCH Beaulieu Lausanne and a number of event services companies, is
reporting a good result once again. With operating income of CHF 449.4 million,
the consolidated income statement for 2014 shows an EBITDA of CHF 84.9 million
(18.9 % of the operating income) and a group profit of CHF 32.8 million (7.3 %
of the operating income). Although operating income is 4.9 % down on the
exceptional 2013 business year, it is 15.2 % above the 2012 business year which
is comparable in terms of exhibition cycles. The EBIDTA was increased by 6.1 %
and 31.4 % respectively compared with the previous two years. The group profit
is 7.5 % above the 2013 business year and 19.7 % above the 2012 business year.
The consolidated total assets at the end of the reporting year are CHF 877.6
million with liabilities of CHF 496.3 million and shareholders' equity of CHF
381.3 million. The equity ratio was increased to 43.4 % (previous year 38.3 %).
Investments totalling CHF 19.0 million were made in fixed assets during the
reporting year. A gratifying free cash flow enabled the net debt (short and
long-term loans minus cash and cash equivalents) to be reduced to CHF 155.3
million (previous year CHF 222.3 million).
In the course of the 2014 business year, the price of the MCH Group Ltd.'s
registered shares rose 8.8 % from CHF 59.55 to CHF 64.80.
In the light of the factors that affected the result for 2014, the development
in the operating income and the group profit by comparison with the previous
years can be regarded as highly gratifying. In addition to the exhibition
schedule - including Swissbau which is only held every two years - the MCH Group
once again benefited from special effects in conjunction with the Baselworld
Watch and Jewellery Show in the 2014 reporting year, although not to the same
extent as in the exceptional previous year. Added to this came the acquisition
of the remaining 40 % of Asian Art Fairs Limited. On the negative side, the
depreciation and financing outlay for the new Messe Basel exhibition complex had
an impact over the full year for the first time. The 2014 accounts also contain
provisions of CHF 3 million for the necessary restructuring at the Lausanne
location.
In view of the weak exhibition cycle (no Swissbau, none of the exhibitions held
every three years) the MCH Group expects sales and profits for the current 2015
business year to be substantially lower than for 2014.
Motions to the General Meeting
The Board of Directors will submit a proposal to the General Meeting on 4 May
2015 for the payment of a dividend of 5%.
The Board of Directors will submit a proposal to the General meeting for Rolando
Benedick, René C. Jäggi, Dr. Karin Lenzlinger Diedenhofen, Dr. Ulrich Vischer
and Martin Vollenwyder to be confirmed in office as members of the Board of
Directors for a further term of one year. The Board will similarly propose to
the General Meeting that Dr. Ulrich Vischer be confirmed in office as Chairman
of the Board of Directors for a further year.
Sustainability report
In conjunction with the Business Report 2014, the MCH Group is publishing a
Sustainability Report for the second time, in compliance with the guidelines of
the "Global Reporting Initiative" (GRI).
Business Report 2014 (Annual Report, Financial Report, Remuneration Report) and
Sustainability Report 2014:
http://www.mch-group.com/de-CH/News/Reports.aspx
Media release:
http://www.mch-group.com/en-US/News/Medienmitteilungen.aspx
The documents for the General Meeting on 4 May 2015 will be sent out and
published on 9 April 2015.
Contact:
MCH Group Ltd.
Corporate Communications
Christian Jecker
+41 58 206 22 52
christian.jecker(at)mch-group.com
www.mch-group.com
Download pdf:
http://hugin.info/134007/R/1908008/679841.pdf
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Source: MCH Group AG via GlobeNewswire
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