Media Release | MCH Group | Good first-half result 2016
(Thomson Reuters ONE) -
MCH Group AG /
Media Release | MCH Group | Good first-half result 2016
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The issuer is solely responsible for the content of this announcement.
MCH Group posts a sound first-half result despite a difficult operating
environment
* Operating income CHF 335.5 million, EBITDA CHF 92.0 million, EBIT CHF 59.9
million, group profit CHF 56.1 million
* Sales and result clearly above the same period of the previous year and at
the same level as the cyclically comparable first half of 2014
* Expectations for the 2016 business year in the region of the two previous
years
The MCH Group has posted a good consolidated first-half result for the reporting
period from 1 January to 30 June 2016 in the light of the challenging market
environment.
Given the different frequencies of the non-annual exhibitions and a number of
other factors, direct comparisons with previous years are only of limited
information value. With Swissbau, which is held only in the even-numbered years,
2016 is a stronger year in terms of exhibition schedules than the previous year
and is comparable with this same period in 2014.
Stable development of sales and result
Consolidated operating income for the reporting period from 1 January to 30 June
2016 totals CHF 335.5 million. This is 8.8 % above the first six months of the
previous year (CHF 308.5 million) and at the same level as the cyclically
comparable first half of 2014 (CHF 335.8 million.).
The operating results and group profit have similarly been boosted by comparison
with the same period in 2015 due to the exhibition cycles and are almost on a
par with the record values for the first half of 2014. The EBITDA is CHF 92.0
million (up 6.9 % on 2015, down 2.9 % on 2014) and the EBIT CHF 59.9 million (up
8.9 % on 2015, down 5.2 % on 2014). The resultant consolidated group profit is
CHF 56.1 million. This is 15.2 % above the same period for 2015 and 1.1 % down
on 2014.
Group balance sheet strengthened
It proved possible to further strengthen the consolidated group balance sheet
over the first half of 2016. The balance sheet structure as per 30 June 2016
shows a balance-sheet total of CHF 864.2 million (as per 31 December 2015, CHF
914.3 million), comprising current assets of CHF 298.7 million (CHF 322.0
million) and fixed assets of 565.5 million (CHF 592.3 million). The liabilities
side shows outside capital of CHF 403.6 million (CHF 506.4 million) and equity
of CHF 460.6 million (CHF 407.9 million). Over the first six months of 2016, the
equity ratio was thus increased from 44.6 % to 53.3 %.
Half year with many events
In the first six months of 2016, the MCH Group staged 13 exhibitions of its own.
Twelve of these took place in Basel, Zurich and Lausanne, while Art Basel was
staged in Hong Kong. The group also hosted 22 third-party exhibitions at its
locations in Switzerland. Some 8 850 exhibiting companies took part in these 35
exhibitions, which registered 1 031 000 visitors.
Added to this, 150 other events were held in the MCH Group's exhibition halls
and congress/conference rooms, and the "Live Marketing Solutions" companies
implemented 850 projects.
Expectations for 2016
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. The seasonal
fluctuation is always greater in the even-numbered years than in the odd-
numbered years on account of Swissbau, which similarly takes place in the first
half of the year. This will be cushioned slightly in 2016 since two exhibitions
that are held every three years are being staged in the autumn.
In view of the seasonal fluctuations and the influence of the different
exhibition frequencies, as well as the economic environment, it is not possible
to linearly extrapolate the half-year result and draw conclusions regarding the
expected result for 2016. The MCH Group is expecting the result for 2016 to be
in the region of the results for the past two years.
The detailed half-year report with the group income statement and group balance
sheet is posted on http://www.mch-group.com/en-US/News/Reports.aspx
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/2039677/760405.pdf
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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: MCH Group AG via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 06.09.2016 - 07:15 Uhr
Sprache: Deutsch
News-ID 492722
Anzahl Zeichen: 5428
contact information:
Town:
Basel
Kategorie:
Business News
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