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* Income in excess of CHF 200 million and profits of CHF 15.5
million in the first half of 2009
* Market position of the internationally leading events
strengthened
* Difficult forecast for the second half of 2009
The MCH Group can look back on a pleasing first half of 2009 with a
result that is in line with the expectations. The group's
consolidated income over the reporting period from 1 January to 30
June 2009 totalled CHF 200.9 million (same period previous year: CHF
236.2 million). Consolidated first-half profits are CHF 15.5 million
(previous year CHF 30.3 million).
The balance-sheet structure as per 30 June 2009 shows a balance-sheet
total of CHF 448.7 million (30 June 2008: CHF 460.4 million), with
current assets of CHF 73.1 million (CHF 82.1 million) and fixed
assets of CHF 375.6 million (CHF 378.3 million) on the assets side.
The liabilities side accordingly shows outside capital of CHF 236.5
million (CHF 248.0 million) and group equity of CHF 212.2 million
(CHF 212.4 million).
Impact of exhibition rotas and the economic climate
The fall in the figures compared with the previous year is due,
firstly, to a less tightly-packed event schedule, on account of the
individual exhibition rotas (no Hilsa, plus Swissbau shifted to the
even years) and, secondly, to the global economic crisis, which is
naturally making itself felt in the exhibition and event business
too. The recessive economic setting has affected the MCH Group's
individual business fields at a differing pace and to differing
extents:
* MCH Exhibitions: the group's own exhibitions registered a CHF 17.5
million (10%) drop in income in the first half of 2009 by
comparison to the previous year. Roughly half of this is
attributable to the fewer exhibitions that were due to be held,
while the other half can be attributed to the difficult economic
climate. Gratifyingly, the two leading international events of
BASELWORLD and Art Basel proved to be highly successful, despite
the particularly difficult setting in which they were held, and
have further strengthened their market position.
* MCH Infrastructure: a CHF 6.6 million drop in income resulted for
rental business during the period under review, by comparison to
this same period the previous year, due to the fact that there was
no equivalent to EURO 08. Apart from this, the earnings situation
during the first half has remained stable in relation to the
previous year.
* MCH Event Services: the crisis is having its most direct and severe
impact on companies in the fields of event management, stand
construction and technical services for events. First-half income
in this business field fell by CHF 12.4 million compared with the
previous year, to stand at CHF 48.2 million (20.5%), with part of
this difference similarly being due to EURO 08. In terms of the
individual sectors, the crisis in the automotive industry, in
particular, has had negative consequences for the service business.
Strengthened market position
"In view of the global economic crisis and the pronounced dependence
of the event marketing business on the prevailing economic
conditions, the MCH Group has performed well during the first half of
2009", says René Kamm, CEO of the MCH Group. The drop in income and
profits compared with the record years has been painful but we can
cope with this given the strengthened market position.
The MCH Group is optimally configured in strategic and operative
terms, stresses René Kamm. "We have a strong product portfolio and a
unique service network with a potential that is far from having been
exhausted. We will be continuing to implement our successful
strategy, just as we have been doing over the first six months of the
year, which has seen the integration of Rufener events Ltd and the
declaration of intent regarding the integration of Beaulieu
Exploitation SA in Lausanne."
Difficult forecast for the second six months
The second six months are always weaker than the first half on
account of the big international exhibitions that are held in the
first half, and because no exhibitions take place in the summer
months. This makes it impossible to extrapolate the half-year results
on a linear basis and draw conclusions regarding the expected annual
result. The second half of 2009 can also not yet be expected to
produce an economic upturn which would have positive repercussions on
the MCH Group's business activities. In addition, the threatened flu
pandemic could bring the danger of a short-term drop in exhibitor and
visitor numbers. In view of the difficult economic conditions, the
MCH Group is expecting annual profits in the second half that will be
below the first-half result.
Media contact
MCH Group Ltd.
Corporate Communications
Christian Jecker
+41 58 206 22 52
christian.jecker@mch-group.com
www.mch-group.com
The press release can be downloaded from the following link:
--- End of Message ---
MCH Group AG
Basel
WKN: 553176; ISIN: CH0010358494; Index: SPI,
SPIEX, SSCI;
Listed: SWX Local Caps in SIX Swiss Exchange;
http://hugin.info/134007/R/1338391/319285.pdf
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