Media Release | MCH Group | Result 2014

MCH Group AG / Media Release | MCH Group | Result 2014 . Processed and transmitted by NASDAQ OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.

MCH Group: Gratifying result in the cyclically strong exhibition year of 2014

• Operating income CHF 449.4 million
  Sales slightly below the exceptional 2013 business year, but significantly above the comparable business year of 2012.
• Group profit CHF 32.8 million
  Increased profit and profitability compared with the 2013 and 2012 business years.
• Balance sheet further strengthened
  Equity ratio increased to 43.4% and net debt reduced by CHF 67 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 event services companies, is reporting a good result once again.  With operating income of CHF 449.4 million, the consolidated income statement for 2014 shows an EBITDA of CHF 84.9 million (18.9 % of the operating income) and a group profit of CHF 32.8 million (7.3 % of the operating income). Although operating income is 4.9 % down on the exceptional 2013 business year, it is 15.2 % above the 2012 business year which is comparable in terms of exhibition cycles. The EBIDTA was increased by 6.1 % and 31.4 % respectively compared with the previous two years. The group profit is 7.5 % above the 2013 business year and 19.7 % above the 2012 business year.

The consolidated total assets at the end of the reporting year are CHF 877.6 million with liabilities of CHF 496.3 million and shareholders' equity of CHF 381.3 million. The equity ratio was increased to 43.4 % (previous year 38.3 %). Investments totalling CHF 19.0 million were made in fixed assets during the reporting year. A gratifying free cash flow enabled the net debt (short and long-term loans minus cash and cash equivalents) to be reduced to CHF 155.3 million (previous year CHF 222.3 million).

In the course of the  2014 business year, the price of the MCH Group Ltd.'s registered shares rose 8.8 % from CHF 59.55 to CHF 64.80.

In the light of the factors that affected the result for 2014, the development in the operating income and the group profit by comparison with the previous years can be regarded as highly gratifying. In addition to the exhibition schedule - including Swissbau which is only held every two years - the MCH Group once again benefited from special effects in conjunction with the Baselworld Watch and Jewellery Show in the 2014 reporting year, although not to the same extent as in the exceptional previous year. Added to this came the acquisition of the remaining 40 % of Asian Art Fairs Limited. On the negative side, the depreciation and financing outlay for the new Messe Basel exhibition complex had an impact over the full year for the first time. The 2014 accounts also contain provisions of CHF 3 million for the necessary restructuring at the Lausanne location.