MCH Group | Ad hoc announcement pursuant to Art. 53 LR | Full-year closing 2023
28 March 2024 - 5:00PM
UK Regulatory
MCH Group | Ad hoc announcement pursuant to Art. 53 LR | Full-year
closing 2023
MCH Group full-year closing 2023: Further consolidation
of financial recovery
In the business year 2023, MCH Group was able to maintain its
operating income at CHF 393.7 million. It posted operating EBITDA
of CHF 16.5 million, an improvement of 18% over 2022.
However, a negative special effect in the form of a one-off
provision places a significant burden on the net result. With the
one-off special effect included, the loss for the year is CHF -14.0
million, and the adjusted EBITDA is CHF 12.3 million. Without the
negative one-off special effect, the loss for the year amounts to
CHF -9.8 million.
Thanks to the timely capital increase carried out in autumn
2022, the CHF 100 million bond was repaid in full in May 2023. This
increased the equity ratio from 25.5% to 29.4%. The Group was able
to further reduce its net debt from CHF 84.6 million to CHF 66.0
million. Cash and cash equivalents remain robust at CHF 65.7
million.
Key figures at a glance
(in CHF million; figures 2022 in parentheses)
Operating income: 393.7 (394.1)
EBITDA: 12.3 (14.0)
EBITDA excl. one-off special effect: 16.5
Loss for the year: -14.0 (-9.3)
Loss for the year excl. one-off special effect: -9.8
Equity: 98.9 (113.3)
equity ratio: 29.4% (25.5%)
Cash and cash equivalents: 65.7 (151.9)
Net debt: 66.0 (84.6)
Outlook for 2024 and beyond
Management remains optimistic for 2024, expecting EBITDA to
improve further. Most importantly, the Group will do everything in
its power to break even and ultimately become profitable again. In
doing so, the focus will not only be on growth and expansion, but
also on disciplining and cutting costs.
In order to ensure the long-term financial health of the
company, two Group-wide programmes have been launched: one to
develop the future Target Operating Model; the other to structure
and streamline the financial organization including all financial
systems.
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. 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 2023,
the Group achieved consolidated sales of CHF 394 million.
Contact:
MCH Group Ltd.
Corporate Communications
Emanuel Kuhn
+41 58 206 22 43
emanuel.kuhn@mch-group.com
www.mch-group.com
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