Operating income CHF 416.4 million - Sales considerably above CHF 400 million once again despite the cyclically weak exhibition year. EBITDA CHF 82.8 million and EBIT CHF 40.1 million - Operating result only slightly below the cyclically strong previous year. Balance sheet further strengthened - Equity ratio increased to 44.6 % and net debt reduced by CHF 63.4 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 companies in the live marketing solutions field, has achieved a good result once again. With operating income of CHF 416.4 million, the consolidated income statement for 2015 shows an EBITDA of CHF 82.8 million (19.9 % of operating income), an EBIT of CHF 40.1 million (9.6 %) and a group profit of CHF 31.0 million (7.4 %).
The consolidated total assets at the end of the 2015 reporting year were CHF 914.3 million, with liabilities of CHF 506.4 million and shareholders' equity of CHF 407.9 million. The equity ratio is 44.6 % (previous year 43.4%). Investments totalling CHF 17.1 million (previous year CHF 19.0 million) were made in the reporting year. The net debt (loans taken up minus cash and cash equivalents) was reduced by CHF 63.4 million to CHF 91.9 million in the reporting year.
Compared with the previous years, operating income was 7.3 % below that for 2014 (CHF 449.4 million) and 11.9% below 2013 (CHF 472.6 million). The EBITDA is 2.7 % lower than in 2014 (CHF 85.1 million) and 4.2 % higher than in 2013 (CHF 79.5 million). The EBIT fell 6.3 % compared with 2014 (CHF 42.8 million) and is at the same level as for 2013 (CHF 40.1 million). The group profit is 5.5 % below the figure for 2014 (CHF 32.8 million) and 1.6 % above the figure for 2013 (CHF 30.5 million).
A number of factors must be borne in mind when drawing comparisons with previous years: 2015 was a year with fewer exhibitions than 2014, due to the individual exhibition schedules. There was no Swissbau, and none of the exhibitions that are staged every three years was held. While 2013 was also a year without Swissbau, it nonetheless had the Holz and Ilmac fairs that come round every three years. It similarly benefited from a large number of special effects in conjunction with the first Baselworld to be held in the newly competed exhibition complex. Apart from this, the economic framework conditions have noticeably worsened by comparison to the previous years – due, in particular, to the withdrawal of support for the Swiss franc.
In the light of these factors, those in charge rate the 2015 result as highly gratifying, both in terms of the absolute figures and by comparison with the previous years.
Market developments at both national and international level constitute a major challenge for the exhibition and event business too. Factors including the strength of the Swiss franc, the economic situation in the BRIC states and the consequences of the war zones in the Middle East could potentially have a negative impact on the live marketing business.
Motions to the General Meeting
The Board of Directors of MCH Group Ltd. will submit a proposal to the General Meeting on 22 April 2016 for the payment of a dividend of 5%.
On 22 April 2016, Rolando Benedick and Martin Vollenwyder will be stepping down from the Board of Directors of MCH Group Ltd. The Board of Directors will propose to the General Meeting that Marco Gadola, CEO of the Straumann Group in Basel, and Andreas Widmer, CEO Young & Rubicam Group Switzerland in Zurich, be elected as successors. (The proposal of Marco Gadola is subject to the agreement of the General Meeting of Straumann Holding AG on 8 April 2016 to modify the Statutes in respect of the number of mandates permitted outside the Straumann Group.)
In addition, the Board of Directors will propose to the General Meeting that René C. Jäggi, Dr. Karin Lenzlinger Diedenhofen and Dr. Ulrich Vischer be elected for a further term of office of one year as members of the Board of Directors. 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.
The documents for the General Meeting on 22 April 2016 will be sent out and published on 31 March 2016:
The documents for the General Meeting on 22 April 2016 will be sent out and published on 31 March 2016.