Media Release | MCH Group | Good result despite difficult market environment
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MCH Group AG /
Media Release | MCH Group | Good result despite difficult market environment
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MCH Group: good result despite difficult market environment
* Operating income CHF 440.3 million, EBITDA CHF 89.0 million and EBIT CHF
41.6 million.
* Key figures for 2016 similar to those for 2014 with a comparable exhibition
schedule and above the weaker exhibition year of 2015.
* Equity ratio increased to 47.9% and net debt reduced to CHF 69.1 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 "live marketing solutions"
companies, has once again posted a good result. With operating income of CHF
440.3 million, the consolidated income statement for 2016 shows an EBITDA of CHF
89.0 million (20.2% of operating income), and an EBIT of CHF 41.6 million
(9.5%). The group profit is CHF 34.3 million (7.8%).
The consolidated total assets at the end of 2016 were CHF 916.0 million with
liabilities of CHF 477.1 million and shareholders' equity of CHF 438.9 million.
The equity ratio is 47.9% (44.6%). Investments totalling CHF 14.3 million were
made in the reporting year (previous year 17.1 million). The net debt (loans
taken up minus cash and cash equivalents) was reduced by CHF 22.8 million to CHF
69.1 million during the reporting year.
Compared with previous years, the key figures are clearly above those for 2015
and of the same order of magnitude as for 2014. Operating income was increased
by 5.1% compared with 2015 but is 2.6 % below the figure for the 2014 financial
year. The EBITDA is 4.3 % and 1.6 % respectively above the previous two years,
and the EBIT 3.7% above 2015 and 2.8% below 2014. The group profit has risen
compared with the previous two years by 11.0% and 1.5% respectively.
A number of factors must be borne in mind when drawing comparisons with previous
years. One the one hand, 2016 was a year with a busy exhibition schedule
compared with the previous years, which included Swissbau, held every two years,
and the Ilmac and Holz fairs that take place every three years. On the other
hand, a noticeable deterioration came about in the national and international
economic setting within which the MCH Group operates. Market consolidations in
industries of key importance for the group, such as the watch and jewellery
sector and the automotive industry, are having an impact on the exhibition and
event business, as is the rapid advance of digitisation.
In the light of the challenging environment, the MCH Group is satisfied with the
2016 financial year. With a view to current and foreseeable market developments,
the group thus launched various strategic initiatives in the 2016 business year
and some of these have already been implemented. They include an extended range
of offerings and an improved international presence in the live marketing
solutions field and a further strengthening of the group's position in the
international art market through the development of a new portfolio of regional
art fairs. This will not, however, permit market-conditioned declines in the
course of business to be offset over the short term. In view of the economic
climate and the weak exhibition schedule, a result considerably below that of
the previous years thus has to be expected for the current 2017 business year.
Motions to the General Meeting
The Board of Directors of MCH Group Ltd. will submit a proposal to the General
Meeting on 26 April 2017 for the payment of a dividend of 5%.
In addition, the Board of Directors will propose to the General Meeting that
Marco Gadola, René C. Jäggi, Dr. Karin Lenzlinger Diedenhofen, Dr. Ulrich
Vischer and Andreas Widmer be elected for a further term of office of one year
as members of the Board of Directors. René C. Jäggi, a member of the Board of
Directors since 2003, has announced his resignation from the Board on the
occasion of the 2017 General Meeting. The Board of Directors will propose to the
General Meeting that Jean-Philippe Rochat be elected to replace him; he has been
attending Board meetings in an advisory capacity, as an observer, since 2013.
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.
Information at www.mch-group.com
Media release
Business Report 2016 and Sustainability Report 2016
Agenda of the General Meeting on 26 April 2017
Media contact
MCH Group AG
Corporate Communications
Christian Jecker
+41 58 206 22 52
christian.jecker(at)mch-group.com
www.mch-group.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
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: 05.04.2017 - 07:15 Uhr
Sprache: Deutsch
News-ID 534518
Anzahl Zeichen: 5664
contact information:
Town:
Basel
Kategorie:
Business News
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