MCH Group
(Thomson Reuters ONE) -
MCH Group AG / MCH Group processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement.
Gratifying first-half result for the MCH Group
§ Operating income of CHF 242.1 million and CHF 38.6 million group profit for
the first half of 2010
§ Strong first six months for exhibitions, positive impact of Beaulieu
Exploitation SA
§ Expectations for 2010 clearly above the previous year
The MCH Group can look back on a very good first half for 2010. The group's
consolidated operating income from 1 January to 30 June 2010 totalled CHF 242.1
million (same period previous year: CHF 200.3 million, up 21%). Consolidated
first-half profits are CHF 38.6 million (CHF 15.5 million, up 149%).
The balance-sheet structure as per 30 June 2010 shows a balance sheet total of
CHF 591.2 million (30 June 2009 CHF 448.7 million), with current assets of CHF
209.0 million (CHF 73.1 million) and fixed assets of CHF 382.2 million (CHF
375.6 million) on the assets side. The liabilities side accordingly shows
outside capital of CHF 337.7 million (CHF 236.5 million) and group equity of
CHF 253.5 million (CHF 212.2 million).
Different positive influences
The result for the first half of 2010 is in the region of the exceptional record
year of 2007. There are various reasons for the increase compared with the
previous year: with Swissbau, there was a more tightly-packed exhibition
schedule in the first half of 2010 than a year earlier, on account of the
individual exhibition rotas. Despite the difficult framework conditions that are
still persisting, the exhibitions were able to hold their ground. They provided
evidence of their strong market position and are benefiting to some extent from
the signs of recovery in the economy. This also applies to the Event Services
business field, which has now passed through the lowest point of the crisis year
of 2009.
A further contribution to the good first-half results came from the initial
consolidation of Beaulieu Exploitation SA, following the acquisition of a
majority shareholding by MCH Group Ltd. The 100% acquisition of Exhibit & More
AG will only be reflected in the results for the second half year, however,
since this company's exhibitions are all held in the last six months of the
year.
§ MCH Exhibitions: The operating income from MCH's own exhibitions increased
by some CHF 40 million or 25% by comparison to the previous year and accounted
for 76% of the group's overall operating income. This gratifying development is
due, among other things, to a successful Swissbau and to the expansion of the
exhibition portfolio with the Beaulieu Exploitation SA events.
§ MCH Infrastructure: An income drop of some 10% compared with the previous
year was recorded in the infrastructure rental business - third party events -
in the period under review. A reduction in the number of events and the
associated expenditure was seen here, as a result of the economic crisis. This
business field accounted for 4% of consolidated operating income during the
first half of 2010.
§ MCH Event Services: Fewer events, smaller budgets and a marked pressure on
prices - the consequences of the economic crisis continue to be clearly felt in
the fields of event management, stand construction and furnishings, and event
technology. Despite this, it proved possible to increase operating income in
this field by some CHF 4 million or 8 % over the previous year. This business
field had a 20% share in the group's operating income.
Market position further consolidated
"We have further consolidated our market position", says René Kamm, CEO of the
MCH Group. "Our investments in the development of the group and, in particular,
in our products are paying off. We have achieved the highest operating income in
the group's history during the period under review, and the group profit is one
of the best in our sector. This clearly shows once again that we adopted the
right approach with our live-marketing strategy."
Operating income in 2010 at a record level
In view of the major seasonal fluctuations in the exhibition business, it is
impossible to extrapolate the half-year results on a linear basis and draw
conclusions regarding the expected annual result. The biggest exhibitions in the
2010 schedule took place in the first half already. In addition, the summer
months, when no exhibitions are held, fall in the second half of the year. The
second six months will thus be considerably weaker than the first half. Despite
this, the MCH Group is expecting record income at the end of the year and
profits in the order of magnitude of the half-year result.
Media contact
MCH Group Ltd.
Corporate Communications
Christian Jecker
+41 58 206 22 52
christian.jecker(at)mch-group.com
www.mch-group.com
[HUG#1442844]
--- End of Message ---
MCH Group AG
null Basel null
ISIN: CH0039542854;
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Source: MCH Group AG via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 07.09.2010 - 07:15 Uhr
Sprache: Deutsch
News-ID 41292
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contact information:
Town:
Basel
Kategorie:
Business News
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