The consolidated income of Swiss Exhibition Group rose up to CHF 236.2 million over the first six months of 2008. First-half profits totalled CHF 30.3 million. Profits were below those of last year, as had been expected, since the different exhibition rotas meant that fewer exhibitions were held. Despite this, the figure still represents the second-best half-year result in the group's history.
Swiss Exhibition is able to report a highly gratifying first-half result for 2008. Consolidated income from 1 January to 30 June 2008 totalled CHF 236.2 million and constitutes an all-time high (same period previous year: CHF 221.8 million). The first-half profits are CHF 30.3 million (CHF 41.9 million). The balance-sheet structure as per 30 June 2008 shows a balance-sheet total of CHF 460.4 million (30 June 2007: CHF 472.0 million). Outside capital of CHF 248.1 million (CHF 286.2 million) is set against the group's own capital of CHF 212.3 million (CHF 185.8 million).
Gratifying course of business
Swiss Exhibition's half-yearly and annual results are always subject to a number of fluctuations, which need to be taken into account when comparing different years, since not all the group's own exhibitions are held every year, and the non-annual exhibitions are held at different intervals too. In addition to this, major differences exist in the event schedules for the first and second half of the year. The more constant business activity in the event services sector is unable to offset these traditional fluctuations.
Hence, contrary to the case for the first half of 2007, there was no Swissbau exhibition (every two years) in 2008. The Hilsa exhibition (every four years) was, however, held by contrast to 2006, although this could only partially compensate for the absence of Swissbau. The gratifying increase in income is thus due first and foremost to the good performance achieved over all the business sectors.
The different product range has also given rise to fluctuations in the profit margin. In line with expectations, group profits for the first half of 2008 are lower than for this same period of the previous year. They are, however, clearly above the like-for-like value for 2006 and constitute the second-best half-year result in the group's history.
Income in excess of CHF 300 at the end of the year again
In view of the major seasonal fluctuations, it is not possible to take the half-year result and extrapolate it on a linear basis to the end of the year. The exhibition schedule is always much more tightly packed in the first half of the year than during the second six months - which also include the months of July, August and December, where few events are held. In addition to this, maintenance and repair work on the hall infrastructure is also concentrated predominantly on the summer months. Since the second six months of even years are also somewhat weaker than in the odd years (with no Igeho), the extra sales achieved during the first half cannot be maintained through to the end of the year. Swiss Exhibtion expects income slightly below the previous record year. The profit is expected to be below the value achieved in the first half of 2008.
Media contact
Christian Jecker
Head of Corporate Communications
Phone: +41 58 206 22 52
MCH Swiss Exhibition (Holding) Ltd.
CH-4005 Basel
The press release can be downloaded from the following link:
