MCH Group | Ad hoc announcement pursuant to Art. 53 LR | Year-end Closing 2022
29 March 2023 - 4:00PM
MCH Group | Ad hoc announcement pursuant to Art. 53 LR | Year-end
Closing 2022
MCH Group: Significantly improved figures on previous
year
The key figures for MCH Group's 2022 annual results are
significantly up on the previous year. MCH Group was able to
increase both its sales and its EBITDA by over 60 % compared with
the previous year; the net loss was reduced to CHF 9.3 million.
Consolidated key figures at a glance (figures
for 2021 in brackets)
- Operating income: CHF 394.1 million (CHF 243.3 million)
- EBITDA: CHF 14.0 million (CHF 8.5 million)
- Loss for the year: CHF -9.3 million (CHF -17.3 million)
- Equity: CHF 113.3 million / 25.5% (CHF 47.8 million /
11.8%)
- Cash and cash equivalents: CHF 151.9 million (CHF 113.7
million)
- Net debt: CHF 84.6 million (CHF 132.7 million)
The first trimester of 2022 was still strongly marked by the
continuing effects of the Covid 19 pandemic. MCH Group estimates
that the negative effects of the pandemic led to a total reduction
in sales of around CHF 45 million. In addition, the portfolio of
activities and projects was subjected to an in-depth analysis in
the second half of the year under review. The MCH Group disposed of
a number of projects whose economic viability was not or no longer
given. Due to the write-offs, these decisions entailed one-off
financial effects which, in addition to the Covid effect, also had
a negative effect on the result for 2022.
Normalisation and recovery as of May 2022
From May onwards, all activities could finally take place again
practically without restrictions, and the unbroken demand for live
events and live experiences among exhibitors and visitors alike
could once again be met without restrictions – except for Asia.
Among other things, MCH Group was able to stage Art Basel in
Basel and Miami Beach very successfully, as well as the premiere of
Paris+ par Art Basel, and also recorded a strong "exhibition
autumn" in Switzerland with a further normalisation of the
exhibition and congress business. In the field of experience
marketing, there was increasing momentum in the second half of the
year, which will also have an impact on the current year,
especially in the USA.
Successful capital increase as a basis for the
future
In autumn, the capital increase, in which the two anchor
shareholders Canton of Basel-Stadt and Lupa each participated with
CHF 34.0 million, was successfully completed with a net cash inflow
of CHF 74.0 million. This secures the repayment of the CHF 100
million bond due in spring 2023. At the same time, the financial
basis for the further development of the company has been laid.
Outlook for 2023
MCH Group is optimistic for the coming year: provided that the
tense geopolitical situation does not deteriorate drastically, a
further improvement in the EBITDA is expected. The net result in
2023 is still expected to be slightly negative. From 2024 onwards,
a positive net result is expected. We are confident that with our
focus on growth, expansion and customer satisfaction, we will
master all upcoming challenges.
Changes on the Board of Directors
There will be personnel changes on the Board of Directors of MCH
Group at the General Meeting on 4 May 2023: Christoph Brutschin
(Delegate of the Canton of Basel-City), Balz Hösly (Delegate of the
Canton and City of Zurich) and Eleni Lionaki (representative of the
anchor shareholder Lupa Systems) will step down from the Board of
Directors. In consultation with the Canton of Basel-Stadt and the
Canton and City of Zurich, the Board of Directors intends to reduce
the number of members of the Board of Directors from nine to seven.
At the Annual General Meeting, Lupa Systems will limit itself to
the nomination of two members and will forego a third election
proposal. In addition, the Canton and the City of Zurich will
refrain from nominating a delegate in the period from the 2023
General Meeting to the 2024 General Meeting, to which they would be
entitled according to the Articles of Association.
Further motions to the Annual General
Meeting
At the Annual General Meeting on 4 May 2023, shareholders will
be asked to approve a number of amendments to the Articles of
Association in order to meet the requirements of the revision of
Swiss company law that came into force on 1 January 2023. At the
same time, the introduction of conditional capital with a maximum
nominal value of CHF 1,552,657 will be proposed in order to be able
to pay out compensation in the form of shares in the future.
Notes
The invitation to the Annual General Meeting on 4 May 2023 will
be sent out on 12 April 2023.
Links to MCH Group's website:
- Business Report 2022 online
Media contact
MCH Group AGCorporate CommunicationsEmanuel Kuhn+41 58 206 22
43emanuel.kuhn@mch-group.comwww.mch-group.com
About MCH Group
MCH Group, with its head office in Basel, Switzerland, is an
internationally active experience marketing company with a
comprehensive service network. It organises around 30 community
platforms in Switzerland and abroad, including Art Basel, Swissbau,
and Giardina. The Live Marketing Solutions division, with the
brands MCH Global, MC2 and Expomobilia, offers comprehensive
experiential marketing solutions ranging from strategy and creation
to implementation. The MCH Group also operates the Messe and
Congress Center Basel and Messe Zurich. The company employs over
800 people, around half of whom are based in Switzerland and the
USA. In the 2022 financial year, the group achieved consolidated
sales of CHF 394 million.
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