Media Release | MCH Group | First-half resultet
(Thomson Reuters ONE) -
MCH Group AG /
Media Release | MCH Group | First-half resultet
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MCH Group posts a gratifying first-half result
* Operating income CHF 308.5 million -
Sales only slightly below the strong and exceptional previous years, despite
fewer exhibitions staged.
* EBITDA CHF 84.1 million and group profit CHF 48.7 million -
Highest operating result and profit ever achieved for a year without
Swissbau.
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,
has posted a consolidated first-half result for the reporting period from 1
January to 30 June 2015 which once again is highly gratifying for a year in
which fewer exhibitions are staged and in the light of the market environment.
Given the different frequencies of the non-annual exhibitions and a number of
other factors, direct comparisons with the previous years are only of limited
information value. Without Swissbau, which is held in the even-numbered years,
2015 is a weak year in terms of exhibition schedules compared with the previous
year. And the same reporting period in 2013, which is comparable in terms of the
number of exhibitions staged, was strongly characterised by exceptional sales
effects in conjunction with the first Baselworld to be held in the newly
completed hall complex.
Stable development of sales and result
Operating income for the reporting period from 1 January to 30 June 2015 totals
CHF 308.5 million. This is 8.1 % below the first six months of the previous
year, with its busy exhibition schedule (CHF 335.8 million) and 10.6 % below the
first half of 2013, which was an exceptional year (CHF 344.9 million).
At CHF 84.1 million, the EBITDA - the operative result before interest, taxes,
depreciation and amortisation - is 11.2 % below the figure for this same period
in 2014 (CHF 94.7 million) but 16.2 % above the same six months of 2013 which is
comparable in terms of the number of exhibitions staged (CHF 72.4 million).
The group's consolidated profit for the first half of 2015 is CHF 48.7 million.
This is 14.1 % below the same reporting period for 2014 (CHF 56.7 million) and
29.5 % above the first half of 2013 (CHF 37.6 million).
The EBITDA and group profit for the first six months of 2015 are the highest
values ever recorded for a year without Swissbau. While the EBITDA margin and
the profit margin of 27.3 % and 15.8 % respectively are also slightly below the
previous year, they are considerably higher than the figures for 2013.
Group balance sheet strengthened
The balance sheet structure as per 30 June 2015 shows a balance-sheet total of
CHF 824.3 million (as per 31 December 2014, CHF 877.7 million), comprising
current assets of CHF 226.7 million (CHF 257.7 million) and fixed assets of
597.6 million (CHF 620.0 million). The liabilities side shows outside capital of
CHF 399.4 million (CHF 496.3 million) and equity (including minority interests)
of CHF 424.9 million (CHF 381.4 million). Compared to 30 June 2014, the equity
ratio was increased by 47.2 % to 51.5 % and the net debt reduced from CHF 213.6
million to CHF 173.8 million, thus further strengthening the group balance
sheet.
39 exhibitions, 200 additional events and 750 event services projects
In the first six months of 2015, the MCH Group staged 12 exhibitions of its own.
Eleven of these took place in Basel, Zurich and Lausanne, while Art Basel was
staged in Hong Kong. The group also hosted 27 third-party exhibitions, which
were held at the MCH Group's locations by various organisers. Some 7,200
exhibiting companies took part in these 39 exhibitions, which attracted around
900,000 visitors.
Added to this, 200 other events were held in the MCH Group exhibition halls and
congress/conference rooms, and the event services companies completed 750
projects.
Expectations for 2015
The MCH Group's exhibition schedule in the first half of the year is always more
tightly packed and generates more income than in the second half, which
similarly takes in the summer months when no events are held. A large number of
national trade fairs are also being staged in autumn 2015 which will feel the
consequences of the EUR-CHF exchange rate more keenly than the big international
trade fairs and consumer shows which took place in the spring. It is also to be
assumed that the strong franc will further influence the course of business in
the events services sector, having an increasingly negative effect.
In view of the seasonal fluctuations and the influence of the different
exhibition frequencies, as well as the increasingly negative influence of the
strong franc, it is impossible to linearly extrapolate the half-year result and
draw conclusions regarding the expected result for 2015. The MCH Group is
expecting a result for 2015 that will be substantially below both the result for
2014 with its strong exhibition schedule and the exceptional financial year of
2013.
The detailed half-year report with the group income statement and group balance
sheet is posted on
www.mch-group.com / Reports
Media contact
MCH Group Ltd.
Corporate Communications
Christian Jecker
+41 58 206 22 52
christian.jecker(at)mch-group.com
www.mch-group.com
Download:
http://hugin.info/134007/R/1950278/709021.pdf
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Source: MCH Group AG via GlobeNewswire
[HUG#1950278]
Unternehmensinformation / Kurzprofil:
Datum: 08.09.2015 - 07:15 Uhr
Sprache: Deutsch
News-ID 418340
Anzahl Zeichen: 6644
contact information:
Town:
Basel
Kategorie:
Business News
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