MCH Group satisfied with result

ch - Wednesday, April 1, 2020    

Financial year 2019 of MCH Group, Basel, was marked by key decisions regarding stabilisation and the future strategic orientation of the company. Implementation of the strategy – the development of exhibitions into platforms and communities – has started and it has been possible to improve the operating result. This is clearly above the result for the previous year and the forecast issued in conjunction with the first-half result, the company group reports. The EBITDA is CHF 22 million (2018: CHF 4 million). The loss for the year prior to special measures amounts to CHF 3.2 million (previous year CHF 17.6 million) The consolidated operating income in 2019 totals CHF 445.2 million. (2018: CHF 368 million). The decline in sales is primarily due to the weaker exhibition cycle, the realignment of Baselworld and the sale of Winkler Livecom. Despite the various measures to reduce costs, the corona crisis will have a serious impact on the 2020 result. The Swiss exhibition group forecasts sales losses in the range of 130-170 million Swiss francs. "The stability of the company group is not at risk, despite these negative influences", stresses Ulrich Vischer, chairman of the board of the MCH Group. CEO Bernd Stadlwieser: "And we are also working flat out on the further implementation of the strategy launched over the past few months and on assessing the financing options for the necessary investments". The development of classic exhibition and event formats into platforms and communities has now been made even more urgent, Bernd Stadlwieser stresses. One of many initiatives has already been launched: "Online Viewing Rooms" for Art Basel from March 18 to 25, 2020 have been extremely well received by the Art Basel community. (ch)


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