With an income of CHF 151.0 million and a net profit of CHF 18.2 million, the Swiss Exhibition Group presents good results for the first half-year of 2006. Due to the periodically weaker exhibition program, the results are for sure lower than last year, however explicit above those of 2004. Swiss Exhibition and the international company Expomobilia AG decided a 40 per cent participation of Swiss Exhibition in the stand building company per 1 January 2007, subject to the due diligence. By the 1 January 2010 at the latest, Expomobilia will be integrated to a 100 per cent into the Swiss Exhibition Group.
The Swiss Exhibition Group can look back on a satisfying first half-year 2006. During the reporting period from 1 January to 30 June 2006, the consolidated result summoned up to CHF 151.0 million (compared to CHF 157.5 million in the reporting period 2005 / CHF 126.0 million in the same period 2004). The semester profit amounts to CHF 18.2 million (CHF 32.2 million / CHF 13.1 million).
Since the event program differs from year to year, the comparison to previous year's result is limited. The first half-year program of 2005 included Swissbau - organized only every two years and affecting the results considerably - and Ilmac, both not comprised in the 2006 event program due to the cyclic event calendar. Otherwise, the yield strong exhibitions of the first half-year are always of great influence on the half-year results. Fortunately, all own exhibitions could be concluded over budget.
Due to the weaker event calendar, a decline of abound CHF 17 million in surface income occurred in the first half-year 2006 compared to the same period of 2005. However, close to two thirds of this decrease could be compensated by income increases with event services.
Considering the total year, it should be taken into account that the event program of the second term is always significantly lower compared to the first one. For 2006, this trend is intensified by the fact that the industrial exhibition go.automation.technolog, normally taking place the even years, had to be shifted to the next year in order to be organized in combination with Ineltec. Furthermore, maintenance and repair costs for facilities and hall infrastructures always increase during the weaker summer months. Therefore, linearly extrapolating the expected full-year's result from this first term's result is simply impossible.
The balance sheet structure as per 30 June 2006 presents a total of CHF 431.3 million (compared to CHF 437.5 million for the same period in 2005), with CHF 76.0 million (CHF 83.8 millions) of current assets and CHF 355.3 million (CHF 353.7 million) of fixed assets. Accordingly, the passive side shows liabilities of CHF 264.9 million (CHF 263.4 million) and an equity capital of CHF 166.4 million (CHF 174.1 million).
Participation in Expomobila
MCH Swiss Exhibition (Holding) Ltd. and Expomobilia AG located in Effretikon/Switzerland decided a 40 per cent participation of Swiss Exhibition in the international stand building company per 1 January 2007, subject to the due diligence. By the 1 January 2010 at the latest, Expomobilia will be integrated to a 100 per cent into the Swiss Exhibition Group as an independent subsidiary.
With its participation in Expomobilia, Swiss Exhibition will expand its scope of activity within the event services. "Therewith we wish to consolidate our position as an internationally leading live-marketing-company", says René Kamm, CEO of the Swiss Exhibition Group. "This step enables our group to widen its business activities - not only portfolio wise, but also geographically - and to increase the share of the value chain creation in its core business. By diversifying into location-independent business fields close to the branch, new income sources are developed, benefiting in the long run to our core business - the organisation of our own exhibitions.
Hans Rudolf Taverna, owner and managing director of Expomobilia, is convinced that "integrating the Swiss Exhibitions Group will open new perspectives to the company. It will help us to strengthen customer loyalty within the exhibition market and to win new customers."
Expomobilia was founded in 1980. The company belongs to the leading exhibition building contractors in Europe and is world-wide active. Over two thirds of its turnover is made abroad. Its offer ranges from system stand construction to complex customized solutions, and from customer services at simple industrial exhibitions up to global full service packages. Expomobilia employs today approximately 80 employees. In 2005 the company generated a turnover of aobut CHF 44 million.
Swiss Exhibition Expomobilia AG Christian Jecker Hans Rudolf Taverna Corporate Communications Owner and Managing Director Phone: +41 58 206 22 Phone: +41 52 354 74 44 52 email@example.com firstname.lastname@example.org (MO 4 September, 10 - 12 am)
Address Address MCH Swiss Exhibition (Holding) Ltd. Expomobilia AG P.O.B. Im Langhag 2 CH-4005 Basel CH-8307 Effretikon-Zurich www.messe.ch www.expomobilia.ch
The press release can be downloaded from the following link:
--- End of Message --- WKN: 553176; ISIN: CH0010358494; Index: SPI, SPIEX, SSCI; Listed: SWX Local Caps in SWX Swiss Exchange;
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