MCH Swiss Exhibition Ltd. can look back on a very successful first half-year of 2005. During the reporting period from 1 January to 30 June 2005, the consolidated result summoned up to CHF 157.5 million (compared to CHF 126.0 million in previous year's reporting period an increase of more than 25 %). Cash flow amounts to CHF 58.8 million (CHF 35.6 million plus an increase of 65 %) and semester profit reaches CHF 32.2 million (CHF 13.1 million plus an increase of 145 %).
The balance sheet structure per 30 June 2005 shows total assets of CHF 437.5 million (CHF 491.8 million per 31 December 2004), divided on the active side into current assets of CHF 83.8 million (CHF 122.4 million) and fixed assets of CHF 353.7 million (CHF 369.4 million). The passive side shows liabilities of CHF 263.4 million (CHF 348.0 million) and equity capital amounting to CHF 174.1 million (CHF 143.8 million).
Winkler Veranstaltungstechnik AG taken over on 1 July 2005 is not yet included in these balance sheet figures.
A strong exhibition year and a gratifying business development
The increase of this half-year result, compared to last year, is primarily due to two reasons: spring 2005 exhibition program included Swissbau - only taking place every two years and having been organized this year for the first time in its previous integrated form - and the new Ilmac (in future also to be held in the odd years) as well as the new Orbit/iEx. In addition, most of the yearly exhibitions could produce satisfactory increases in revenue too.
Since the exhibition program differs from year to year, only limited comparison to previous year's result is possible. Furthermore, the density of the exhibition calendar and the yield of strong exhibitions of the first term have an extremely high impact on this half-year's result. The event calendar of the second term is likewise significantly weaker, without forgetting the increasing exhibition hall facilities maintenance and repair costs during the weak summer period.
Therefore linearly extrapolating the expected full-year's result from this first term's result is simply impossible. However, based upon the result achieved per 30 June 2005 as well as the expectations for the second term, one might assume that 2005 will largely surpass last year's figures, leading to a record result.
Change in presidency of the Board of Directors in spring 2006
On the occasion of the General Meeting of MCH Swiss Exhibition (Holding) Ltd. to be held on 11 May 2006, Robert A. Jeker, the acting Chairman of the Board, will resign from his assignment after 11 years, related to his age. The Board of Directors will propose Dr. Ueli Vischer (Basel) to be elected Member of the Board by the General Assembly of Shareholders at the above-mentioned meeting. Subject to his election by the General Assembly, he will then be elected Chairman by the self-constituting Board of Directors.
Dr. Ueli Vischer, lawyer and nominated Chairman knows Swiss Exhibition pretty well: as Head of the Finance Department of Canton Basel-City he was already Member of the Board of the former Basel Exhibition since 1992 and Member of the Board of Swiss Exhibition since 2001 until his resignation as senior civil servant in the beginning of 2005. Today he is partner in a lawyers' practice acting in Basel and Zurich.
The Board of Directors of Swiss Exhibition is glad to present Dr. Ueli Vischer, an extremely competent and highly esteemed colleague, as successor of Robert A. Jeker. He will be immediately invited to join the Board's meetings as a "guest" in order to allow him to familiarize himself (again) with the current activities and to guarantee a seamless and smooth change over in spring 2006.
"A successful, strong earnings generating business"
Dr. Ueli Vischer will take over the presidency of a business having enormously evolved and positively progressed during the last ten years. Under the presidency of Robert A. Jeker, the former cooperative society "Schweizer Mustermesse" in Basel has become a joint stock company, thus setting more realistic assessments of company value, extending the scope of action and enabling the merger with Zurich Exhibition to Swiss Exhibition in 2001.
At the same time the Basel location facilities were seriously modernized: by the construction of Hall 1 in a record time of only 10 months, the improvement of transport logistics and thereby the reduction of exhaust emissions in the surroundings of the Exhibition Center and finally by the project development as well as promoting and selling of the Exhibition Tower.
The presidency of Robert A. Jeker was also marked by the further development of the portfolio of own exhibitions - amongst others by the setting up of the Art Basel Miami Beach - the management of the SARS-crises in the context of BASELWORLD 2003 and the strategic extension of core business activities by the take over of Winkler Veranstaltungstechnik AG. "Today's Swiss Exhibition is a successful, strong earnings generating business, quoted on the SWX Swiss Exchange and able to distribute regularly dividends," affirms Robert A. Jeker who will still assume the presidency of the group until May 2006.
The New Chairman of our Zurich Subsidiary
Dr. Thomas Wagner, previous Lord Mayor of Zurich-City, has been elected as the new Chairman of the Board of the subsidiary MCH Swiss Exhibition (Zurich) Ltd. In this function he succeeds at Hanspeter Meyer, who resigned from his assignment by the end of 2004. Dr. Thomas Wagner will support Swiss Exhibition by looking after its interests at its Zurich location and also take over some representational tasks for the Board of Directors and the Group Management.
Attachment:
Organizational Structure of the Company
Further information for the media
Further information about the change of presidency:
Robert A. Jeker, Chairman of the Board
Further information about the first half-year's result:
René Kamm, Chief Executive Officer
Markus Haering, Chief Financial Officer
Contact
Christian Jecker
Head of Corporate Communications
Phone: +41 58 206 22 52
Fax: +41 58 206 21 82
MCH Swiss Exhibition (Holding) Ltd.
CH-4005 Basel
The press release can be downloaded from the following link:
