MCH Swiss Exhibition Ltd. can look back on a successful first half-year of 2004 and is able to present good half-year results. The consolidated earnings achieved by Swiss Exhibition from 1st January to 30th June 2004 reached CHF 126.0 million (previous year: CHF 121.0 million). The consolidated half-year profits amount to CHF 13.1 million (previous year: CHF 8.7 million).
Any comparison with the previous year should take into account the fact that the programme of events is not the same every year. For instance, 2003 was a Swissbau year, and the Hilsa exhibition in 2004 cannot fully compensate for this. On the other hand, the comparable period in the previous year was impaired by the need to provide reserves due to the Swiss government's ruling on SARS in connection with BASELWORLD 2003. These reserves were retransferred at the end of 2003 in view of the high number of exhibitors registering for BASELWORLD 2004; this exhibition, however, necessitated the construction of Hall 6 in Basle.
Furthermore, it should not be inferred that the results expected for the full year can simply be extrapolated from the results for the first half-year. The programme of events in the second half-year is less full than that in the first six months, in which, moreover, the most profitable exhibitions - especially BASELWORLD - take place. In addition, the cost of maintenance and repair to the infrastructure of the halls is disproportionately higher in the summer months in the second half-year, when there are fewer events taking place.
Despite a weaker trading year - for cyclical reasons (i.e. with no Swissbau or Igeho taking place) - and more modest expectations with regard to the second half-year, it can safely be assumed that a similar operating result to that of the previous year will be achieved.
It must be taken into account that Swiss Exhibition has to bear an additional financial burden in the form of depreciation on Hall 6 in Basle. This complex, which is at our disposal for only a limited number of years, had to be at put into operation at short notice (with considerable investments) in order to avert claims against Swiss Exhibition as a consequence of the Swiss government's problematical SARS decree in 2003.
The present half-year results prove once again that Swiss Exhibition is able to achieve success in an economic environment that is still difficult. The results are based on a good first half-year, with a particularly outstanding BASELWORLD 2004. At the same time, the positive effects of the reorganisation that was carried out in the past year are gradually taking hold.
Contact for the media:
MCH Swiss Exhibition Ltd.
Corporate Communications
Christian Jecker
Christian Jecker
Tel. +41 58 206 22 52
The press release can be downloaded from the following link:
