MCH Group Strengthens Profitability and Advances Strategic Growth in 2025
Eva Mai
MCH Group significantly improved profitability in 2025, with EBITDA increasing by around 50% and net profit exceeding CHF 18 million. Despite exchange rate headwinds, the Group delivered growth at constant currencies and returned to strong positive cash generation.
MCH Group today published its annual results for 2025, reflecting a year of disciplined execution, improved efficiency, and tangible progress in profitability despite a challenging macroeconomic environment.
Exchange rate volatility and market uncertainty impacted reported revenues, which reached CHF 429.5 million (2024: CHF 435.7 million). Negative foreign exchange effects amounted to approximately CHF 13 million. At constant exchange rates, however, revenues grew by 2%, underlining the positive underlying business momentum.
Profitability improved significantly across all key metrics. EBITDA increased by around 50% to CHF 51.2 million (2024: CHF 34.5 million), with the margin rising to 11.9% (from 7.9%). EBIT reached CHF 27.3 million (2024: CHF 14.9 million), corresponding to a margin of 6.3% (from 3.4%). Net profit exceeded CHF 18.6 million (2024: CHF 3.0 million), despite a CHF 3 million depreciation on the Arcual IP asset.
Operating cash flow turned clearly positive at CHF 30.4 million (2024: CHF -6.6 million), including CHF 14 million from the sale of the Effretikon property and CHF 16 million generated by the core business. This strengthens liquidity and provides flexibility to invest in future growth initiatives.
The results reflect the impact of increased operational efficiency, cost discipline, and a stronger focus on higher-margin activities, as well as continued portfolio development. Early contributions from new initiatives such as Art Basel Qatar also supported performance.
The Group's three divisions performed robustly:
Art Basel delivered exceptional editions across its global platforms (Hong Kong, Basel, Paris, Miami Beach), celebrated key milestones such as the 55th anniversary in Basel with outstanding sales, and successfully premiered Art Basel Qatar. New initiatives like the Zero 10 program for digital and tech art communities were launched, building momentum for 2026.
Exhibitions & Events welcomed substantial visitor numbers in Basel and Zurich through flagship events, major own exhibitions, and high-profile activations including Eurovision in Basel, while securing a strong pipeline of corporate and tech congresses.
Live Marketing Solutions (LMS) executed thousands of projects worldwide, added new brands, earned prestigious awards (e.g., Agency of the Year in the Middle East), and demonstrated outstanding cross-brand collaboration on global campaigns such as Caterpillar's 100-year anniversary tour.
Looking ahead to 2026, MCH Group has started the year strongly with successful early events and a packed calendar of flagship fairs, large-scale activations, and record investments in technology and IT infrastructure. The focus remains on deepening internal partnerships, elevating delivery for global clients and communities, driving profitable growth, and innovating to carry the platforms forward in a dynamic market.
Andrea Zappia, Chairman of the Board of Directors, and the Executive Committee commented: "2025 was a year of consolidation and tangible progress for MCH Group. We operated with consistent discipline, strengthening both our profitability and liquidity."
The full 2025 Annual Report, including the Management Report, Financial Report, Sustainability Report, and Corporate Governance Report, is available on the MCH Group website under Investors/Reports.
For further details, please refer to the official ad hoc announcement and financial statements.
